In a recent published report, Kenneth Research has updated the market report for Electronic Manufacturing Software Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Electronic Manufacturing Software Market products.
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According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019. Additionally, exports of ICT services increased from 5.61% of service exports (BoP) in 2001 to 10.37% of service exports (BoP) in 2017. On the other hand, growing awareness amongst individuals for using the internet is also anticipated to contribute to the market growth. For instance, the total number of individuals using the internet grew from 8% of total population in 2001 to 49% of total population in 2017.
Global Electronic Manufacturing Software Market Analysis – 2018-2027
Electronic manufacturing software is referred to the software used for designing and manufacturing electronic components in the electronic industry, and further testing these components, followed by distribution and servicing. This software is used across many electrical manufacturers for manufacturing components including chips, PCBs, and other electrical components. The global electronic manufacturing software market is anticipated to achieve a CAGR of around 1.5% across the globe over the forecast period, i.e. 2019-2027. Factors such as increasing advancements in technology, growing need of organizations to rapidly shift their existing work platforms into the cloud, industrial automation, rising trends of industry 4.0 concepts, and others.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
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Additionally, growing need for automation across industries to lower their operational costs and enhance work process efficiency and further understand the business product line processes is anticipated to drive the growth of the global electronic manufacturing software market.
The global electronic manufacturing software market consists of various segments that are segmented by product, services, end user and by region. The services segment is further sub-divided into design & development, supply chain solutions, new product introduction, manufacturing, assembly and aftermarket. Out of these, the new product introduction segment is anticipated to hold the largest market share of around 27% in the year 2027. Additionally, the segment is anticipated to cross a value of around USD 7200 million by the end of 2027 by registering a CAGR of around 0.5% over the forecast period.
Based on region, the global electronic manufacturing software market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa. The market in Asia Pacific, which had accounted for around 22% share in the year 2018, is estimated to witness the highest CAGR of around 2% over the forecast period and cross a value of around USD 6400 million by the end of 2027.
Study on Leading Companies Mentioned in This Report
Some of the affluent industry leaders in the global electronic manufacturing software market are Plexus Corp., Jabil Inc., Flextronics International, Ltd., Foxconn Electronics Inc., PEGATRON Corporation, Celestica Inc., Sanmina Corporation, Universal Scientific Industrial, Benchmark Electronics, Inc., and SIIX Corporation.
Key Answers Captured in Report?
- Which geography would have better demand for products/services?
- What are the strategies adopted by big players in the regional market?
- Which country would see the steep rise in CAGR & year-on-year (Y-O-Y) growth?
- What is the current & expected market size in the next five years?
- What is the market feasibility for long term investment?
- What opportunity the country would offer for existing and new players in the market?
- What is the risk involved for suppliers in the geography?
- What factors would drive the demand for the product/service in the near future?
- What is the impact analysis of various factors in market growth?
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