Europe Electronic Contract Manufacturing And Design Services Industry Overview
The Europe electronic contract manufacturing and design services market size is projected to reach USD 68.61 billion by 2028, expanding at a CAGR exceeding 7.1%, according to a new report by Grand View Research, Inc. The growth of the market can be attributed to the growing trend among OEMs to opt for contact manufacturing services owing to the growing pricing pressure associated with manufacturing electronic components in-house. While the outbreak of the COVID-19 pandemic triggered the demand for healthcare devices, the strong emphasis organizations are putting on rolling out the work-from-home model increased the demand for computing devices, thereby driving the growth of the market.
The market witnessed a slump in 2020 as a result of the pandemic, which triggered supply chain disruptions and resulted in a shortage of semiconductor components. However, order backlogs and the increase in demand for contract manufacturing services from Eastern and Central European countries helped in offsetting the slump.
Europe Electronic Contract Manufacturing And Design Services Market Segmentation
Grand View Research has segmented the Europe electronic contract manufacturing and design services market based on end-use and region:
Based on the End-use Insights, the market is segmented into Healthcare, Automotive, Industrial, Aerospace Defense, IT Telecom, Power Energy, Consumer Electronics, Others.
- The industrial segment accounted for the largest market share of over 25% in 2020. The growing adoption of industrial robotics has triggered the need for miniaturized electronic components, thereby driving the need for specialized expertise in electronics manufacturing.
- At this juncture, the pricing pressure OEMs are increasingly confronting is prompting them to consider outsourcing electronics manufacturing. Advances in the Industrial Internet of Things (IIoT) and telecommunications are also driving the need among the OEMs to approach EMS vendors.
- The healthcare segment is anticipated to expand at the highest CAGR exceeding 9% over the forecast period. The growth of the segment can be attributed to the rising demand for advanced medical devices, including Computed Tomography (CT) scanner assemblies, ultrasound imaging systems, and blood analyzers.
- The increasing geriatric population in European countries, such as Italy, Greece, and Portugal, is typically driving the demand for ambient assisted devices. The high costs associated with the manufacturing of these devices are prompting healthcare OEMs to opt for contract manufacturing.
Europe Electronic Contract Manufacturing And Design Services Regional Outlook
- U.K.
- Germany
- Rest of Europe
Key Companies Profile Market Share Insights
The companies are encountering intense competition from small companies, which are trying aggressively to gain a considerable share in the market. At this juncture, market players are putting a strong emphasis on adopting the latest, advanced technologies, such as AI, factory automation, and robotics, as part of the efforts to offer enhanced electronics manufacturing services to their customers.
Some prominent players in the Europe electronic contract manufacturing and design services market include
- Cicor Management AG
- Enis
- Flex Ltd
- Hon Hai Precision Industry Co., Ltd (Foxconn Technology Group)
- Jabil Inc.
- Kitron ASA
- Neways
- NORBIT ASA
- NOTE AB
- Sanmina Corporation
- Scanfil
- USI
- VIDEOTON HOLDING ZRt
- Zollner Elektronik
Order a free sample PDF of the Europe Electronic Contract Manufacturing And Design Services Market Intelligence Study, published by Grand View Research.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc.
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Email: sales@grandviewresearch.com
