At 9.7% CAGR, the North America Electronic Contract Assembly Market is projected to be worth US$ 74,421.73 million by 2028, says The Business Market Insights

According to the Business Market Insights’ research, the North America electronic contract assembly market was valued at US$ 46,761.83 million in 2023 and is expected to reach US$ 74,421.73 million by 2028, registering a CAGR of 9.7% from 2023 to 2028. Growth of semiconductor industry and integration of advanced technologies in electronic manufacturing are the critical factors attributed to the North America electronic contract assembly market expansion.

The rising consumption of consumer electronics, computing technology, data storage technology, and wireless devices is contributing to the semiconductor industry's growth. Semiconductors play an essential role in a wide range of products across all segments of the North America economy as a key technology enabler. As a result, various governments are focusing on enhancing their semiconductor production capabilities. Such government initiatives are attracting North America market players to expand their manufacturing facilities in India. Thus, the growing semiconductor industry is contributing to the growth of the electronic contract assembly market.  

On the contrary, growing concerns about information leaks and intellectual property theft, and instability hurdles the growth of North America electronic contract assembly market. 

Based on service, the North America electronic contract assembly market is segmented into electronic design & engineering, electronic assembly, and electronic manufacturing. The electronic manufacturing segment held 41.9% share of North America electronic contract assembly market in 2023, amassing US$ 19,571.17million. It is projected to garner US$ 30,637.36 million by 2028 to expand at 9.4% CAGR during 2023–2028.

Based on end user, the North America electronic contract assembly market is segmented into aerospace, industrial/automation, semiconductor/robotics, IT and telecom, and others. the industrial/automation segment held 25.8% share of North America electronic contract assembly market in 2023, amassing US$ 12,050.46million. It is projected to garner US$ 20,900.66 million by 2028 to expand at 11.6 % CAGR during 2023–2028.  

Based on country, the North America electronic contract assembly market has been categorized into the US, Canada, and Mexico.  Our regional analysis states that the US captured 46.5% share of North America electronic contract assembly market in 2023. It was assessed at US$ 21,759.32 million in 2023 and is likely to hit US$ 35,841.51 million by 2028, exhibiting a CAGR of 10.5% during the forecast period.      

Key players dominating the North America electronic contract assembly market are Benchmark Electronics Inc; Celestica Inc; Creation Technologies LP; Fabrinet Co Ltd; Flex Ltd; Jabil Inc;  Matric Group Inc; and Precision Manufacturing Company Inc among others.   

• In March 2023, Benchmark Electronics' new Precision Technologies facility in Mesa, Arizona, is a strategic move to support the semiconductor industry's growth in the United States. With a focus on providing engineering and manufacturing solutions for semiconductor capital equipment building blocks and solutions, the company is investing USD 20 million. It plans to hire up to 100 people to support the facility. This move will allow Benchmark to expand its capabilities and better serve its customers in the region while contributing to the growth of the domestic semiconductor industry.
• In July 2019, Lindsay Goldberg, a global private equity firm, has announced its plans to acquire Creation Technologies, one of the leading electronics manufacturing services providers. The move is expected to drive continued growth and award-winning customer solutions for Creation, which has been operating for 28 years. The acquisition is subject to court, shareholder approvals, and regulatory approvals.

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