Contract Manufacturing And Design Services Market To Reach USD 1312.70 Billion By 2032, Motivated By Growing Reliance On Outsourcing By OEMs | Report by SNS Insider
“Empowering Innovation: The Contract Manufacturing and Design Services Market is driven by the growing demand for cost-effective production and specialized expertise. With opportunities in diverse sectors like electronics, healthcare, and automotive, the market is set to expand as companies seek flexible and scalable solutions for product development and manufacturing.”
Austin, Aug. 08, 2024 (GLOBE NEWSWIRE) — The Contract Manufacturing and Design Services Market Share was valued at USD 565.90 billion in 2023 and is expected to grow to USD 1312.70 billion by 2032 and grow at a CAGR of 9.8% over the forecast period of 2024-2032.
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KEY PLAYERS
- 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
The Contract Manufacturing and Design Services (CMDS) Market growth is driven by complex products, cost pressures, and rapid technological advancements. CMDS providers offer a range of services, from product design to supply chain management, allowing companies to focus on core competencies. The biopharmaceutical sector is a key growth driver, with the rise of complex therapies like biologics and cell and gene therapies demanding specialized handling and cold chain solutions. To meet this need, companies like Almac and Catalent have invested in advanced infrastructure, including cryogenic storage facilities.
The CMDS market is driven by personalized medicine, with printers and packaging companies adopting digital technologies for customized short production runs. This improves quality and reduces cycle times. Additionally, miniaturization in electronics and medical devices is increasing demand for specialized CMDS providers.
Contract Manufacturing And Design Services Market Report Scope & Overview:
| Report Attributes | Details |
| Market Size in 2023 | USD 565.90 billion |
| Market Size in 2032 | USD 1312.70 billion |
| CAGR (2024-2032) | 9.8% |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Market Driver |
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“EMS Dominates CMDS Market, Driven by IT and Telecom Demand in 2023”
In 2023, Electronic Manufacturing Services (EMS) held the largest market share at 44% in the contract manufacturing and design services market. The demand for advanced circuit boards has been boosted by the rise of complex and smaller electronic devices, such as smartphones and tablets, leading to the growth of EMS providers. These companies are experts in producing high-density interconnect (HDI) boards and providing a variety of electronic manufacturing services. One such company is Jabil Inc., which focuses on innovation and efficiency to address changing industry requirements.
In 2023, the IT and telecom industry led the contract manufacturing and design services market, representing 30% of the total market share. Defined by quick technological progress and an increasing need for intricate electronic parts, this sector heavily depends on contract manufacturers. Key companies such as Foxconn and Celestica offer various services like assembly, design, and logistics to assist in manufacturing telecom devices, networking equipment, and consumer electronics for top brands.
“CMDS Market Dominated by Asia-Pacific and North America in 2023”
In 2023, the Asia-Pacific region took the lead in the Contract Manufacturing and Design Services (CMDS) market, securing a significant 39% market share. The region’s growing popularity as a place for outsourcing is fueled by its abundant workforce, plenty of raw materials, and cost-effective manufacturing. Nations such as China, India, and Vietnam have become major centers for manufacturing, enticing international companies like Flex Ltd. and Jabil Inc. to set up extensive operations. These companies utilize the advantageous business environment in the area to minimize production expenses and access the expanding consumer market.
In 2023, North America was the leading region in the Contract Manufacturing and Design Services (CMDS) market with a 26% market share. The healthcare and automotive industries played crucial roles, with the healthcare sector profiting from high-mix-low-volume manufacturing. Celestica and Plexus Corp. are meeting this demand by offering sophisticated manufacturing services to research and medical facilities. Anticipated growth in the North American CMDS market is expected to be fueled by the emphasis on high-margin, technologically advanced products.
“CMDS Market Boosted by Biopharma and Medical Device Demand, AI Investment to Drive Future Growth”
- The biopharmaceutical industry is a major driver for the CMDS market, with a growing demand for specialized clinical supply solutions due to the rise of complex therapies like biologics and cell and gene therapies. Companies like Almac and Catalent are investing in advanced infrastructure, such as Almac’s cryogenic service capable of storing over 40,000 vials at -196°C.
- Knowles Corp. has expanded its services to include micro-molding and other precision manufacturing capabilities for medical devices, highlighting the growth opportunities in this area.
- The U.S. government has recently announced a USD 70 million initiative to establish a new Manufacturing USA institute focused on AI applications in manufacturing. This public-private collaboration aims to enhance manufacturing capabilities, workforce development, and supply chain resilience within the CMDS market.
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Key Takeaways
- Recognize potential for growth by analyzing market trends and demographics.
- Comprehend the competitive environment and compare your results.
- Improve supply chain and manufacturing procedures for maximum efficiency.
- Make well-informed choices regarding outsourcing and forming partnerships.
- Create methods to overcome obstacles and take advantage of positive situations.
- Informed about the most recent advances in technology and the most effective methods used in the industry.
Table of Contents – Major Key Points
1. Introduction
2. Industry Flowchart
3. Research Methodology
4. Market Dynamics
4.1 Drivers
4.2 Restraints
4.3 Opportunities
4.4 Challenges
5. Porter’s 5 Forces Model
6. Pest Analysis
7. Contract Manufacturing And Design Services Market Segmentation, By Services
- Electronic Design & Engineering
- Electronic Assembly
- Electronic Manufacturing
- Others
8. Contract Manufacturing And Design Services Market Segmentation, By End-use
- Healthcare
- Automotive
- Industrial
- Aerospace & Defense
- IT & Telecom
- Power & Energy
- Consumer Electronics
- Others
9. Regional Analysis
10. Company Profiles
11. Competitive Landscape
12. Use Case and Best Practices
13. Conclusion
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