The Asia Pacific Electronic Contract Manufacturing and Design Market would witness market growth of 9.4% CAGR during the forecast period (2021-2027).
Due to the capacity of contract manufacturers to specialize in economies of scale in services, raw materials procurement, industrial design expertise, and pooling resources along with providing value-added services like warranty and repairs, the electronic contract manufacturing and design services would witness lucrative growth opportunities. Additionally, it enables OEMs to prevent undertaking repetitive or complicated industrial activities. These factors would act as growth catalysts for the overall electronic contract manufacturing and design market during the forecasting period.
The APAC region has become conducive for electronic contract manufacturing services due to the low labor cost and high availability of the workforce. However, the major countries of this region were hit hard by the global pandemic, as a result hampering the growth & demand for electronic contract manufacturing and design in the regional market. Moreover, the adoption of electronic contract manufacturing and design market among end-use industries has significantly increased due to the higher requirement to optimize resources and technological advancements in manufacturing plants. Hence, these factors are set to create lucrative growth opportunities for the players operating in the regional electronic contract manufacturing and design market during the forecast period.
The China market dominated the Asia Pacific Electronic Contract Manufacturing And Design Services Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $87,579.2 million by 2027, growing at a CAGR of 7.5 % during the forecast period. The Japan market is exhibiting a CAGR of 8.7% during (2021 - 2027). Additionally, The Taiwan market would witness a CAGR of 10.2% during (2021 - 2027).
Based on Services Type, the market is segmented into Electronic Manufacturing, Electronics Assembly, Electronic Design & Engineering, Others. Based on Industry Vertical, the market is segmented into IT & Telecom, Consumer Electronics, Healthcare, Industrial, Automotive, Aerospace & Defense, Power & Energy and Others.
Free Valuable Insights: The Worldwide Electronic Contract Manufacturing and Design Market is Projected to reach USD 730.5 Billion by 2027, at a CAGR of 9.4%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Benchmark Electronics, Inc., Plexus Corporation, Flextronics International, Ltd., Hon Hai Precision Industry Co., Ltd., Celestica, Inc. (Onex Corporation), Sanmina Corporation, Fabrinet, Jabil, Inc., Venture Corporation Limited, and Compal Electronics, Inc.
By Services Type
By Industry Vertical
By Country
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