In a recent published report, Kenneth Research has updated the market report for Electronic Contract Assembly 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 Contract Assembly Market products.
Download Sample of This Strategic Report:- https://www.kennethresearch.com/sample-request-10151452
Moreover, increase in ICT spending around the globe for hardware, software, services, new technologies and telecom among others is also anticipated to contribute to the growth of the market in the coming years. The spending on new technologies recorded around USD 0.6 million in 2018 and is further estimated to reach close to USD 1.3 million by 2023. The total ICT spending around the globe further recorded close to USD 5 million in 2019 and is further projected to touch USD 6 million by 2023.
Market Synopsis:
The global electronic contract assembly market was valued at USD 88.40 billion in 2017 and is expected to reach USD 157 billion by the end of the forecast period with a CAGR of 10%.Electronic contract assembly are offered by companies that design, assemble, manufacture, distribute, electronic test components and printed circuit boards assemblies and provide return/repair services for these electronic components and assemblies for original equipment manufacturers. The concept is also referred to as electronics contract manufacturing. Additionally, an original design manufacturer is a company that designs and manufactures a product based on the existing design and specifications.
Download Sample of This Strategic Report:- https://www.kennethresearch.com/sample-request-10151452
ODM companies acquire original specifications from another company and then design the product accordingly. Such companies offer the supplier or other companies, the capability to get their product built without having to design the hardware and invest in production facilities completely. The high proportion of new start-up businesses, the introduction of new products and technologies, high demand for consumer electronics, automotive electronics and medical electronics is fueling the growth of electronic contract assembly market. Electronic contract assembly companies provide manufacturing capacity, however, the company creating or supplying the specifications retains the ownership of the design.
Segmentation:
The global electronic contract assembly market is segmented into service, end-user, and region.
By service, the electronic contract assembly market is segmented into electronic design & engineering, electronic assembly, electronic manufacturing, and others.
By end-user, the electronic contract assembly is segmented into aerospace, industrial/automation, semiconductor/robotics, government, IT & telecom, and others.
By region, the electronic contract assembly market is segmented into North America, Europe, Asia-Pacific, and rest of the world.
Regional Analysis:
The global market for electronic contract assembly is estimated to grow at a significant rate during the forecast period from 2018 to 2023. The geographical analysis of electronic contract assembly market is studied for North America, Europe, Asia-Pacific, and the rest of the world (including the Middle East, Africa, and Latin America).
With technological advancements and presence of key players, the US has experienced significant growth in the electronic contract assembly market. The high demand for consumer electronics and smartphones owing to robust, economic landscape is triggering the growth of electronic contract assembly market in this region. The market in the US is currently dominated by aerospace, telecommunications, and industrial.
On the other hand, the European market has seen significant growth due to increasing demand in electronic and semiconductor industry. The presence of various industrial electronics providers and medical electronics providers have resulted in more business opportunities for small suppliers across the region. Moreover, strong economies such as the UK, Germany, France, and Italy are investing in research and development of advanced semiconductor technologies, which is triggering the growth of electronic contract assembly market in this region.
The major factors contributing to market growth include growing semiconductor industry, and high penetration of EMS suppliers. However, the complex installation process, and downside risk of economy pose challenge to the market.
Download free Sample of This Strategic Report:- https://www.kennethresearch.com/sample-request-10151452
Global Electronic Contract Assembly Market, USD Million:
Electronic Contract Assembly Market Research Report – Global Forecast till 2023
Key Players:
The key players in the electronic contract assembly market are identified across all the major regions based on their country of origin, presence across different regions, recent key developments, product diversification, and industry expertise. Some of them are—Altadox Inc (US), Benchmark Electronics Inc (US), Celestica Inc (Canada), Compal Electronics Inc (Taiwan), Creation Technologies LP (Canada), Fabrinet (Thailand), Flex Ltd (Singapore), Hon Hai Precision Industry Co Ltd (Taiwan), Jabil Circuits Inc (US), Plexus Corporation (US). These players contribute a major proportion towards market growth.
Apart from the top key players, the other players contribute nearly 30–35 % in the electronic contract assembly market. These include Sanmina SCI (US), New Kinpo Group (Taiwan), Shenzhen Kaifa Technology (China), Universal Scientific Industrial Co Ltd (Taiwan), Venture (Singapore), Elcoteq (Luxembourg), SIIX (Japan), Zollner Elektronik (Germany), Beyonics Technology (Singapore), Sumitronics (Japan), UMC Electronics Co Ltd (Japan), Orient Semiconductor Electronics (Taiwan), Kimball Electronics Group (US), AsteelFlash Group (France), and others.
Download free Sample of This Strategic Report:- https://www.kennethresearch.com/sample-request-10151452
Intended Audience:
Equipment Manufacturers
Design Manufacturers
Investors and consultants
Semiconductor Equipment Manufacturers
Smartphone & Computer Manufacturers
System Integrators
Government Organizations
Research/Consultancy firms
Technology solution providers
About Kenneth Research
Kenneth Research is a reselling agency providing market research solutions in different verticals such as Automotive and Transportation, Chemicals and Materials, Healthcare, Food & Beverage and Consumer Packaged Goods, Semiconductors, Electronics & ICT, Packaging, and Others. Our portfolio includes set of market research insights such as market sizing and market forecasting, market share analysis and key positioning of the players (manufacturers, deals and distributors, etc), understanding the competitive landscape and their business at a ground level and many more. Our research experts deliver the offerings efficiently and effectively within a stipulated time. The market study provided by Kenneth Research helps the Industry veterans/investors to think and to act wisely in their overall strategy formulation
Contact Us
Name: Kenneth research
Email:sales@kennethresearch.com
Phone: +1 313 462 0609