Contract Manufacturing and Design Service Market to Hit USD 1312.70 Billion by 2032 | SNS INSIDER

The Market is expanding with demand for cost-efficient, scalable production in electronics, healthcare, and automotive industries, driven by outsourcing trends.

AUSTIN, TX, UNITED STATES, February 14, 2025 /EINPresswire.com/ -- Market Size & Industry Insights

According to the SNS Insider Report,“The Contract Manufacturing and Design Service Market¹ was valued at USD 565.90 billion in 2023 and is expected to grow to USD 1312.70 billion by 2032, at a CAGR of 9.8% over the forecast period of 2024-2032.”

Factors such as increasing demand for cost-efficient production, rising complexity in product designs, and the need for specialized expertise are fueling the growth of the Contract Manufacturing and Design Services market. Various companies are outsourcing manufacturing and design to lower operational costs, increase efficiency, and concentrate on their strong sides. Moreover, rapid technological advancements, and increasing production of medical devices, electronics, and automotive are expected to further propel the market growth.

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SWOT Analysis of Key Players as follows:
- Benchmark Electronics Inc.
- Celestica Inc.
- Compal Electronics Inc.
- Creating Technologies
- Flextronics International Ltd.
- Hon Hai Precision Industry Co. Ltd.
- Jabil Circuit Inc.
- Plexus Corporation
- Fabrinet
- Venture Corporation Limited

Key Market Segmentation:

By Services: Electronic manufacturing held the highest market share in 2023 and also remains the fastest growing segment with a CAGR from 2024 to 2032 within the Contract Manufacturing and Design Services market. Rising demand for miniaturized devices, continuous technological advancements along with expanding adoption of sophisticated electronics across various industry verticals like consumer electronics, automotive, and healthcare are some of the key factors expected to drive the market. Due to the cost saving, efficiency improvement, and core competencies maintenance benefits associated with outsourcing manufacturing and design, companies are increasingly choosing to do so. Moreover, heightened product life cycle tendencies, coupled with global supply chain optimization promote market growth. This is because product designs are becoming more complex and would require specialists to work on them.

By End Use: The IT & Telecom segment accounted for a larger Contract Manufacturing and Design Services market share in 2023 due to the rising need for advanced networking equipment, data centers, and cloud computing solutions; growth in several cloud computing technologies and emerging new realms of IT & telecom spectrum. Factors such as the rapid expansion of 5G infrastructure and IoT devices, as well as high-performance computing, have led to an increase in specialized contract manufacturing. To cut costs, speed up time-to-market, and capitalize on contract-manufactured expertise in advanced electronics and precision engineering, firms in the sector are outsourcing production

The healthcare segment is projected to show the fastest CAGR over the forecasted period (2024-2032) due to increasing medical device, wearable, and diagnostic equipment demand. The key factors that are responsible for boosting the demand for high-quality manufacturing and design services include advances in healthcare technology, an aging population, and increasing regulatory requirements.

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KEY MARKET SEGMENTS:

By Services
Electronic Design & Engineering
Electronic Assembly
Electronic Manufacturing
Others

By End-use
Healthcare
Automotive
Industrial
Aerospace & Defense
IT & Telecom
Power & Energy
Consumer Electronics

Others

Asia-Pacific Leads Contract Manufacturing Market While North America Grows Fastest

Asia-Pacific holds the largest share of the Contract Manufacturing and Design Services market in 2023. This market is characterized by its mature manufacturing ecosystem, low wages, and robust supply chain. Nations such as China, India, and Vietnam have transformed into the epicenter for electronics, automotive, and medical device manufacturing, where organizations with a prudent supply chain strategy can meet mass production. The technological advancements, government support, and rising investments in industrial automation in the region provide it with robust leadership in the market.

North America is likely to register the fastest CAGR during the forecast period of 2024-2032 owing to increasing demand for advanced manufacturing solutions, reshoring initiatives, and growing adoption of Industry 4.0. The region has a strong presence in healthcare, aerospace, and IT & telecom sectors, which drives high demand for quality, specialized contract manufacturing services.

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Recent Developments:

-In July 2024, Benchmark Electronics expanded its Brașov, Romania facility, doubling manufacturing capacity and adding 500 jobs to meet growing demand in industrial, medical, and semiconductor sectors.

-In November 2024, Celestica Inc. acquired NCS Global Services LLC for up to USD 59.6 million, enhancing its IT asset management and disposal capabilities. The move strengthens Celestica’s end-to-end lifecycle services in IT infrastructure.

-In November 2024, Jabil and Cyferd launched ID8 Global, a joint venture introducing an AI-driven, fully autonomous supply chain platform. The solution enhances real-time decision-making and optimizes procurement processes for global businesses.

TABLE OF CONTENT - Key Points

Chapter 1. Introduction

Chapter 2. Executive Summary

Chapter 3. Research Methodology

Chapter 4. Market Dynamics Impact Analysis

Chapter 5. Statistical Insights and Trends Reporting

Chapter 6. Competitive Landscape

Chapter 7. Contract Manufacturing and Design Services Market Segmentation, by Material

Chapter 8. Contract Manufacturing and Design Services Market Segmentation, by End-User

Chapter 9. Contract Manufacturing and Design Services Market Segmentation, by Application

Chapter 12. Regional Analysis

Chapter 13. Company Profiles

Chapter 14. Use Cases and Best Practices

Chapter 15. Conclusion

Continued…

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Akash Anand
SNS Insider
+1 415-230-0044
info@snsinsider.com

¹ https://www.snsinsider.com/reports/contract-manufacturing-and-design-services-market-4119