The Latin America, Middle East and Africa Electronic Contract Manufacturing and Design Market would witness market growth of 12.3% CAGR during the forecast period (2021-2027).
As contract manufacturers provide a wide range of functionalities like engineering, component assembly, and design of printed circuit boards, functional testing, and sub-assembly manufacturing, thereby would open new growth avenues for the overall market. Moreover, electronic contract manufacturing falls within engineering and manufacturing outsourcing services that offer numerous core manufacturing abilities. In addition, outsourcing ancillary activities assists OEMs to focus on high-value tasks, which eventually assists them to drive up their operational efficiencies, declining production costs, and decreasing fixed capital investment needs.
OEMs are willing to outsource their design and engineering to remarkably bring down costs and enhance flexibility. They are substantially putting investments in R&D activities and other initiatives to smooth their production processes with an aim to survive in the stiff competition. Though, the installation of next-generation technologies by electronic contract manufacturing and design services vendors like 3D printing, Artificial Intelligence (A) for automation leads to heavy investments from the OEMs.
The Brazil market dominated the LAMEA 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 $12,601.1 million by 2027. The Argentina market is exhibiting a CAGR of 12.9% during (2021 - 2027). Additionally, The UAE market would experience a CAGR of 12% 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 Global Electronic Contract Manufacturing and Design Market is Predict to reach $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.
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