DUBLIN--(BUSINESS WIRE)--The "Global Electronic Manufacturing Services Market - Forecasts from 2020 to 2025" report has been added to ResearchAndMarkets.com's offering.
The global electronics manufacturing services market is estimated at US$165.354 billion for the year 2019 growing at a CAGR of 14.17% to reach the market size of US$366.208 billion by 2025
- Benchmark Electronics
- Flex Ltd.
- Plexus Corp
- Jabil Inc.
- Celestica Inc.
- Compal Inc.
- Creation Technologies
- Foxconn Electronics Inc.
- Sanmina Corporation
- Venture Corporation Limited
The major factor driving the growth of the market is the wide adoption of contractual services by OEMs on account of an increase in the number of service offerings by the providers. The adoption of these services further enhances the capabilities of the OEM manufacturers to expand their focus in the core capabilities and further invest in enhancing their efficiency and stay determined to achieve operational excellence also.
The growth of the numerous end-user industries coupled with the growing complexity of operations is further boosting the adoption of the contract manufacturing services and leading to increased investments by major companies in the form of facility expansions, investments in R&D, all these factors are collectively contributing towards the growth of the market significantly throughout the forecast period. The rising penetration of smart and handheld devices such as smartphones and tablets is also bolstering the growth of the market.
The growing penetration of the latest and advanced medical devices is projected to significantly boost the growth of the market due to a strict regulatory environment for the manufacturing of the devices coupled with the requirements for highly advanced manufacturing technology. This is further leading to the wide adoption of contractual services by OEMs to stay focused more on their core competencies and invest more in the R&D with an aim to reduce the costs and gain a competitive edge over other players.
Growing focus of industry players towards cost reduction
The rising focus of major industry players across the different industry verticals towards the reduction of costs and maximization of profits is one of the key factors to boost the adoption of contractual services and thereby amplify the growth of the market throughout the forecast period. Furthermore, the rising competition in the industries is further leading to the dilution of the profits which is leading to the high adoption of these services for the cost reductions and the expansion of profits.
Increasing investments in electric and hybrid vehicles
The growing demand for electric vehicles is one of the prime opportunities for electronic manufacturing service providers. A surge in the demand is anticipated to propel the production of electric and hybrid cars, thereby complement the growth of electric components. In addition, favorable government policies regarding the promotion of electric vehicles is further projected to augment the demand for these services by major EV manufacturers throughout the forecast period and beyond. Moreover, the deployment of electric vehicles has also been growing at a remarkable pace during the past years.
Aerospace and Defence industry is projected to witness decent growth over the forecast period
On the basis of industry vertical, the global electronics manufacturing services market has been classified into healthcare, aerospace and defense, automotive, telecom and IT, consumer electronics and others. The aerospace and defense sector is anticipated to show good growth over the forecast period owing to a steady increase in the investments by major countries in the defense sector to mitigate the numerous levels of security threats and strengthening the defense capabilities in major developing economies such as China, India, and Indonesia among others.
Europe holds good growth opportunities during the forecast period
By geography, the global electronics manufacturing services market is segmented into North America, South America, Europe, Middle East, and Africa and Asia Pacific. The European region is anticipated to show decent growth over the forecast period on account of rising investments by market players for the expansion of facilities in this region due to the rising demand from numerous end-user industries. North America is anticipated to hold a decent market share on account of the early adoption of technology and the availability of a well-established infrastructure. The Asia Pacific is anticipated to grow substantially during the next five years due to the significant growth of industries in the major emerging countries such as India, China, Indonesia, and Vietnam.
Key Topics Covered:
2. Research Methodology
3. Executive Summary
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.4. Industry Value Chain Analysis
5. Global Electronics manufacturing services market Analysis, By Services
5.2. Design & engineering
6. Global Electronics Manufacturing Services market Analysis, By Industry Vertical
6.3. Aerospace and Defense
6.5. Telecom and IT
6.6. Consumer Electronics
7. Global Electronics Manufacturing Services market Analysis, By Geography
7.2. North America
7.3. South America
7.5. Middle East and Africa
7.6. Asia Pacific
8. Competitive Environment and Analysis
8.1. Major Players and Strategy Analysis
8.2. Emerging Players and Market Lucrativeness
8.3. Mergers, Acquisitions, Agreements, and Collaborations
8.4. Vendor Competitiveness Matrix
9. Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/wts6q1