NAICS Code 334 - Computer and Electronic Product Manufacturi...

NAICS 334 - Computer and Electronic Product Manufacturing

NAICS 33 - Manufacturing
NAICS 11 - Sector 11--Agriculture, Forestry, Fishing and Hunting NAICS 21 - Sector 21--Mining NAICS 22 - Sector 22--Utilities NAICS 23 - Sector 23--Construction NAICS 31 - Sector 31-33--Manufacturing NAICS 42 - Sector 42--Wholesale Trade NAICS 44 - Sector 44-45--Retail Trade NAICS 48 - Sector 48-49--Transportation and Warehousing NAICS 51 - Sector 51--Information NAICS 52 - Sector 52--Finance and Insurance NAICS 53 - Sector 53--Real Estate and Rental and Leasing NAICS 54 - Sector 54--Professional, Scientific, and Technical Services NAICS 55 - Sector 55--Management of Companies and Enterprises NAICS 56 - Sector 56--Administrative and Support and Waste Management and Remediation Services NAICS 61 - Sector 61--Educational Services NAICS 62 - Sector 62--Health Care and Social Assistance NAICS 71 - Sector 71--Arts, Entertainment, and Recreation NAICS 72 - Sector 72--Accommodation and Food Services NAICS 81 - Sector 81--Other Services (except Public Administration) NAICS 92 - Sector 92--Public Administration
- NAICS 334 - Computer and Electronic Product Manufacturing
  NAICS 311 - Food Manufacturing NAICS 312 - Beverage and Tobacco Product Manufacturing NAICS 313 - Textile Mills NAICS 314 - Textile Product Mills NAICS 315 - Apparel Manufacturing NAICS 316 - Leather and Allied Product Manufacturing NAICS 321 - Wood Product Manufacturing NAICS 322 - Paper Manufacturing NAICS 323 - Printing and Related Support Activities NAICS 324 - Petroleum and Coal Products Manufacturing NAICS 325 - Chemical Manufacturing NAICS 326 - Plastics and Rubber Products Manufacturing NAICS 327 - Nonmetallic Mineral Product Manufacturing NAICS 331 - Primary Metal Manufacturing NAICS 332 - Fabricated Metal Product Manufacturing NAICS 333 - Machinery Manufacturing NAICS 334 - Computer and Electronic Product Manufacturing NAICS 335 - Electrical Equipment, Appliance, and Component Manufacturing NAICS 336 - Transportation Equipment Manufacturing NAICS 337 - Furniture and Related Product Manufacturing NAICS 339 - Miscellaneous Manufacturing

Industries in the Computer and Electronic Product Manufacturing subsector group establishments that manufacture computers, computer peripherals, communications equipment, and similar electronic products, and establishments that manufacture components for such products. The Computer and Electronic Product Manufacturing industries have been combined in the hierarchy of NAICS because of the economic significance they have attained. Their rapid growth suggests that they will become even more important to the economies of all three North American countries in the future, and in addition their manufacturing processes are fundamentally different from the manufacturing processes of other machinery and equipment. The design and use of integrated circuits and the application of highly specialized miniaturization technologies are common elements in the production technologies of the computer and electronic subsector. Convergence of technology motivates this NAICS subsector. Digitalization of sound recording, for example, causes both the medium (the compact disc) and the equipment to resemble the technologies for recording, storing, transmitting, and manipulating data. Communications technology and equipment have been converging with computer technology. When technologically-related components are in the same sector, it makes it easier to adjust the classification for future changes, without needing to redefine its basic structure. The creation of the Computer and Electronic Product Manufacturing subsector will assist in delineating new and emerging industries because the activities that will serve as the probable sources of new industries, such as computer manufacturing and communications equipment manufacturing, or computers and audio equipment, are brought together. As new activities emerge, they are less likely therefore, to cross the subsector boundaries of the classification.

Industry trends:

The Computer and Electronic Product Manufacturing industry, under NAICS 334, is experiencing several significant qualitative trends driven by technological advancements, supply chain dynamics, and changing consumer demands. One prominent trend is the increasing focus on sustainability and eco-friendly practices. Manufacturers are investing in greener technologies and materials to meet both regulatory requirements and consumer preferences for sustainable products. This trend is expected to continue as environmental regulations tighten and consumers become more environmentally conscious.

Another key trend is the rapid advancement in semiconductor technology. The continuous development of smaller, more efficient, and powerful chips is leading to innovations not only in consumer electronics but also in industrial applications, such as automation and artificial intelligence. The demand for semiconductors is forecasted to grow, driven by the proliferation of Internet of Things (IoT) devices, 5G technologies, and electric vehicles.

Furthermore, there is a growing emphasis on reshoring and supply chain resilience. The disruptions caused by global events have prompted companies to reconsider their supply chain strategies, with many looking to diversify their sources and increase domestic production. This shift could lead to increased investment in local manufacturing capabilities, boosting employment and innovation within North America.

Lastly, the adoption of Industry 4.0 technologies, including robotics, machine learning, and cloud computing, is transforming manufacturing processes. These technologies are enhancing productivity, reducing costs, and enabling customization, providing a competitive edge to companies that effectively implement them. In the near future, expect these trends to drive growth and shape the strategic directions of companies within the computer and electronic product manufacturing industry.