Market Research Future (MRFR) has published on the “Global Electronic Manufacturing Services Market”.
The electronic manufacturing services market is estimated to register a CAGR of 5.20% during the forecast period of 2023 to 2032.
MRFR recognizes the following companies as the key players in the global Electronic Manufacturing Services market— Sanmina Corporation (U.S.), Hon Hai Precision Industry Co. Ltd (Foxconn) (Taiwan), Benchmark Electronics Inc. (U.S.), Flex Ltd (Singapore), Jabil Inc. (U.S.), Celestica Inc. (Canada), Wistron Corporation (Taiwan), Plexus Corporation (U.S.), Fabrinet (Thailand), COMPAL Inc. (Taiwan) and others.
The global electronic manufacturing services market is accounted to register a CAGR of 5.20% during the forecast period and is estimated to reach USD 813.2 Billion by 2032.
A vibrant sector of the economy, the electronic production services (EMS) market offers electronic product production and design services that are outsourced. EMS providers provide a wide range of services, including as supply chain management, PCB assembly, and product testing. The need for electronics is rising, and this is causing tremendous growth and innovation in the EMS business.
The global electronic manufacturing services market has been segmented into service and industry.
On the basis of service, the market is segmented into electronics manufacturing services, engineering services, test & development implementation, logistics services and others. The engineering services segment dominated the market in 2022. When developing new products, EMS providers place a lot of attention on DFM and DFT ideas.
Based on Industry, the global electronic manufacturing services market has been segmented into consumer electronics, automotive, heavy industrial manufacturing, Aerospace and defense, healthcare, IT and telecom & others. The IT and telecom category generated the most income in 2022. Because of regulations put in place by governmental bodies in the United States, India, and other countries. This endeavour is driving the market for IT and telecom applications, which has also raised demand for consumer gadgets, laptops, and communication devices.
The global electronic manufacturing services market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe Electronic Manufacturing Services market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The Electronic Manufacturing Services market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World Electronic Manufacturing Services market comprises of Middle East, Africa, and Latin America.
The market share that belongs to the North American electronic manufacturing services market is second-largest. In North America, there is a huge demand for linked devices, smart home products, and IoT gadgets. The local EMS suppliers assist in the manufacturing of these electronics, which fosters market expansion.
Moreover, the market for electronic manufacturing services in Europe is anticipated to see the quickest CAGR between 2023 and 2032. In Europe, collaborations in research and development (R&D) between EMS providers and OEMs are highly regarded. This collaboration promotes cutting-edge approaches to electronic manufacturing and technical advancement.
Additionally, the Asia-Pacific electronic manufacturing services market dominated this market in 2022 (45.80%). Businesses from all over the world now outsource their production to EMS providers in Asia Pacific, which has emerged as a hub for cost-effective manufacturing. Affordable manufacturing solutions can be offered by countries like China, Vietnam, Thailand, and Malaysia thanks to their developed infrastructure and ample labour resources.
Furthermore, offering outsourced manufacturing and design services for electronic devices, the Latin American EMS business is a sector that is constantly growing. Due to the region's rising demand for electronics, EMS firms are essential in offering PCB assembly, testing, and supply chain solutions, which promotes development and technological improvement.
Key Findings of the Study