The electronic contract manufacturing services market is expected to experience significant growth over the forecast period. Need to optimize resources is one of the key factors contributing to market growth. Increasing number of mergers and acquisitions is one of the emerging trends in the electronic contract manufacturing services market. Owing to varied functionalities offered by electronic contract manufacturers, the market is expected to witness significant growth over the forecast period. Various services such as component assembly, engineering design fabrication of printed circuit boards (PCB), sub-assembly manufacturing, and functional testing are expected to be carried out by electronic contract services manufacturers.
Growing purchasing power of customers coupled with rising need for consumer electronics is expected to boost electronic contract manufacturing services market growth. Technological advancements, increasing internet penetration and shift in consumer preferences are anticipated to positively impact the electronic manufacturing services market. Increasing need for wireless technology software may positively impact the global market through the forecast period.
Increased outsourcing operations by OEMs catering to end-use industries such as medical, automotive, aerospace, industrial and defence is expected to drive market growth over the next six years. Inclination towards more software oriented services which have a major extension of the operating system is expected to be a key market opportunity for the manufacturers. Electronic contract manufacturing services market consists of original design manufacturing services and electronic manufacturing services.
Asia-Pacific is expected to grow at a considerable rate owing to strong vendor base as well as infrastructure for electronics supply chain. Steady economic growth, low cost labor, increasing disposable income, increased per capita spending and rising standards of living are expected to fuel electronic contract manufacturing services market growth.
Europe are expected to dominate the electronic contract manufacturing services market owing to early adoption of the technology, followed by North America. Additionally, increasing adoption in broadband users in the emerging countries such as India, China and Japan is expected to positively impact market growth through the forecast period. Major vendors in the electronic contract manufacturing services markets are focusing on mergers and acquisitions activities in order to enhance their market presence. Market consolidation is expected to fuel the market owing to the alliances of original equipment makers with small, regional and large electronics contract manufacturers. The market is expected to witness entry of Chinese smart manufacturers which would result in intensified competition in the electronic contract manufacturing services market.
Key market participants in the electronic contract manufacturing services market include Flextronics International Ltd., Jabil Circuit Inc., Hon Hai Precision Industry Co. Ltd. and Celestica Inc. Other vendors are Plexus Corp., Sanmina Corp., Onyx EMS LLC., Electronics Inc. and Elcoteq SE.
Avail customized purchase options to meet your research needs:
Get your queries resolved from an industry expert. Request for a free product review before report purchase.
Speak to the report author to design an exclusive study to serve your research needs.
A testimonial for service excellence represented in the form of BBB "A" Accreditation.
Your personal and confidential information is safe and secure.