May 09, 2022 (AmericaNewsHour) -- Research Nester has released a report titled " Electronic Manufacturing Software Market - Global Demand Analysis & Opportunity Outlook 2027" which delivers detailed overview of the global electronic manufacturing software market in terms of market segmentation by product, services, end user and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter's five force model.
The global electronic manufacturing software market is segmented by product into component, devices and others, out of which, the component segment is anticipated to hold the largest market share by the end of 2027 and cross a value of around USD 10,300 million by the end of 2027. The segment further held a market share of around 40% in the year 2018 and is anticipated to register a CAGR of around 1% over the forecast period, i.e. 2019-2027. On the other hand, the devices segment is estimated to grow with the highest CAGR of around 2% over the forecast period.
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The global electronic manufacturing software market is anticipated to achieve a CAGR of around 1.5% across the globe over the forecast period. Growing need of organizations to rapidly shift their existing work platforms into the cloud, increasing advancements in technology, growing industrial automation and rising trends of industry 4.0 concepts and the increasing need to develop smart manufacturing technologies in organizations are some of the factors anticipated to promote significantly towards the growth of the global electronic manufacturing software market. The market is further anticipated to garner a value of around USD 26000 million by the end of 2027 from a value of around USD 23000 million in the year 2018 and achieve an incremental $ opportunity of around USD 370 million in the year 2027 as compared to the previous year.
Regionally, the global electronic manufacturing software market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Among these regions, North America is anticipated to hold the largest market share owing to the presence of nations, such as U.S. and Canada, where U.S. held the dominant market share of around 65% during the year 2018 owing to the presence of numerous manufacturing companies in the nation especially in the Southeastern United States. The North America electronic manufacturing software market, which held a market share of around 34% in the year 2018, is further expected to expand by observing the growth rate of around 1.05x over the forecast period and cross a value of around USD 8400 million in 2027.
Growing Trends of Industrial Automation
Advancement in technology and the growing IT infrastructure around the world has influenced massively for the greater adoption of automation technologies in industries that help business owners to enhance their work efficiency and more than that, contribute significantly to lower the operational cost. The sensors and the interconnected devices that are deployed for automation in the industries across different sectors, continuously send signals and data to remote systems for constant monitoring and control of equipment. Moreover, backed by the increasing funding for research and development, followed by advancements in technology and development of advanced microprocessors, modern automated systems are designed to work smartly with greater workloads and enhanced data processing capabilities. As a result, organizations can better understand their businesses and factory lines in-depth from the data collected by the sensors. All of these are possible by the deployment of advanced electronic manufacturing software, which interconnects all these sensors and manages these interconnected devices. The growing need to lower operational cost of organizations and optimize processes by the integration of technological advancements are some of the factors anticipated to drive the growth of the global electronic manufacturing software market.
However, concerns regarding the presence of numerous software companies around the world which lowers down the return on investment is anticipated to limit the growth of the global electronic manufacturing software market.
This report also provides the existing competitive scenario of some of the key players of the global electronic manufacturing software market, which includes company profiling of Plexus Corp. /zigman2/quotes/208217351/composite PLXS -0.47% , Jabil Inc. /zigman2/quotes/203847835/composite JBL -1.12% , Flextronics International, Ltd. /zigman2/quotes/203929784/composite FLEX -0.63% , Foxconn Electronics Inc. (tpe:2354), PEGATRON Corporation (tpe:4938), Celestica Inc. /zigman2/quotes/208427519/composite CLS -2.08% , Sanmina Corporation /zigman2/quotes/207312436/composite SANM -0.89% , Universal Scientific Industrial (sha:601231), Benchmark Electronics, Inc. /zigman2/quotes/201136259/composite BHE -1.27% , and SIIX Corporation (tyo:7613).
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The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global electronic manufacturing software market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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