At 5.6% CAGR, the South & Central America Electronic Contract Assembly Market is projected to be worth US$ 11,575.41 million by 2028, says The Business Market Insights

According to the Business Market Insights’ research, the South & Central America electronic contract assembly market was valued at US$ 8,808.74 million in 2023 and is expected to reach US$ 11,575.41 million by 2028, registering a CAGR of 5.6% from 2023 to 2028. Growth of semiconductor industry and integration of advanced technologies in electronic manufacturing are the critical factors attributed to the South & Central America electronic contract assembly market expansion.

The automobile industry is projected to be one of the fastest-growing industries over the forecast period. Moreover, the growing demand for autonomous vehicles and EVs is anticipated to fuel the growth of the automobile industry in the coming years. The aggregate value of the utilization of semiconductors in EVs is more than that of an internal combustion engine; hence, the growing demand for EVs is expected to boost the use of semiconductors. Furthermore, the EV market is witnessing the ever-increasing trend of outsourcing electronic contract assembly and manufacturing to achieve cost-effectiveness. Thus, the shift toward EVs and autonomous vehicles is expected to be a trend in the electronic contract assembly market during the forecast period.

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

Based on service, the South & Central America electronic contract assembly market is segmented into electronic design & engineering, electronic assembly, and electronic manufacturing. The electronic manufacturing segment held 42.7% share of South & Central America electronic contract assembly market in 2023, amassing US$ 3,762.73million. It is projected to garner US$ 4,940.48 million by 2028 to expand at 5.6% CAGR during 2023–2028.

Based on end user, the South & Central America electronic contract assembly market is segmented into aerospace, industrial/automation, semiconductor/robotics, IT and telecom, and others. The others segment held 31.3% share of South & Central America electronic contract assembly market in 2023, amassing US$ 2,755.00 million. It is projected to garner US$ 3,468.76 million by 2028 to expand at 4.7 % CAGR during 2023–2028.  

Based on country, the South & Central America electronic contract assembly market has been categorized into Brazil, Argentina, and the Rest of South & Central America.  Our regional analysis states that Brazil captured 47.1% share of South & Central America electronic contract assembly market in 2023. It was assessed at US$ 4,144.55 million in 2023 and is likely to hit US$ 5,583.98 million by 2028, exhibiting a CAGR of 6.1% during the forecast period.      

Key players dominating the South & Central America electronic contract assembly market are Benchmark Electronics Inc; Celestica Inc; Flex Ltd; and Jabil Inc among others.   

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