Authored By: Sarah
11 Jul 2024

 Electronics Manufacturing Service Market to grow by USD 164.6 billion between 2024-2028

According to a research report “ Electronics Manufacturing Service Market” by End-user (Computing and consumer appliances, Telecommunication, Industrial, Automotive, Others) Service Type (Electronics design and engineering, Electronics assembly, Electronics manufacturing, Others) Geography (APAC, North America, Europe, South America, Middle East and Africa)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 164.6 billion at a CAGR of almost 6.21% during the forecast period. The global Electronics Manufacturing Services (EMS) market experiences robust growth due to substantial cost savings obtained by outsourcing production to EMS providers in economies with lower labor costs. These savings stem from reduced expenses related to technology infrastructure, manufacturing facilities, operations, and workforce. EMS companies capitalize on labor arbitrage by maintaining lean workforces and minimizing employee recruitment and retention costs. Additionally, effortless access to a skilled labor pool and advanced technologies in low-cost economies bolsters the market's expansion in these regions..

Browse market data tables, figures, and in-depth TOC on “Electronics Manufacturing Service Market” by End-user (Computing and consumer appliances, Telecommunication, Industrial, Automotive, Others) Service Type (Electronics design and engineering, Electronics assembly, Electronics manufacturing, Others) Geography (APAC, North America, Europe, South America, Middle East and Africa) Global Forecast to 2028.

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By End-user, the Computing and consumer appliances segment is projected to dominate the market size in 2024.

The Electronics Manufacturing Services (EMS) market witnesses continuous growth, driven by the increasing demand for advanced technology and miniaturization in electronic devices. EMS providers offer specialized services, including design, manufacturing, testing, and after-sales support, enabling businesses to focus on their core competencies while reducing costs and improving time-to-market. Key players in this sector invest heavily in research and development to stay competitive and meet evolving customer needs.

By Service Type, Electronics design and engineering  segment is expected to hold the largest market size for the year 2024.

The Electronics Manufacturing Services (EMS) market witnesses continuous growth, driven by the increasing demand for advanced technology and miniaturization in electronic devices. EMS providers offer specialized services, including design, manufacturing, testing, and after-sales support, enabling businesses to focus on their core competencies while reducing costs and improving time-to-market. Key players in this sector invest heavily in research and development to stay competitive and meet evolving customer needs.

APAC is forecasted to hold the largest market size by region in 2024.

The Electronics Manufacturing Services (EMS) market witnesses continuous growth, driven by the increasing demand for advanced technology and miniaturization in electronic devices. EMS providers offer specialized services, including design, manufacturing, testing, and after-sales support, enabling businesses to focus on their core competencies while reducing costs and improving time-to-market. Key players in this sector invest heavily in research and development to stay competitive and meet evolving customer needs.

The Electronics Manufacturing Service Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:

  • Accton Technology Corp.
  • Benchmark Electronics Inc.
  • Celestica Inc.
  • Compal Electronics Inc.
  • Creation Technologies LLC
  • Data IO Corp.
  • Elbit Systems Ltd.
  • ESCATEC Sdn. Bhd.
  • First International Computer Inc.
  • Flex Ltd.
  • Hon Hai Precision Industry Co. Ltd.
  • Integrated Micro Electronics Inc.
  • Jabil Inc.
  • Key Tronic Corp.
  • Kimball Electronics Inc.
  • Kitron ASA
  • Neo Tech Inc.
  • Plexus Corp.
  • Sanmina Corp.
  • Venture Corp. Ltd.
.

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Research Analysis Overview

The Electronics Manufacturing Services (EMS) market caters to various industries, including low-income individuals seeking affordable smartphones, as well as automotive, healthcare, and smart home product sectors. Structural electronics, such as LCD panels, connectors, capacitors, and new technologies like 3D printing, virtual reality, and engineering services, play a significant role in this industry. OEMs (Original Equipment Manufacturers) rely on EMS providers for component assembly and re-engineering, testing, sub-assembly manufacturing, and industrial output enhancement. E-waste recycling is another crucial aspect, ensuring sustainability and reducing environmental impact. The electronics manufacturing industry continues to evolve, integrating advanced technologies and productivity levels to meet diverse market demands.

Market Research Overview

The Electronics Manufacturing Services (EMS) market encompasses a broad spectrum of industries, including automotive electronics manufacturers, electric car sales, and high-end autos. Structural electronics demand is on the rise, with IoT-enabled cars becoming increasingly common. EMS providers play a crucial role in the production of electronic equipment manufacturing for various sectors, such as consumer electronics, IT and Telecom, and Aerospace & Defense. The electronics manufacturing industry is undergoing a transformation, driven by new technologies like 3D printing, virtual reality, and the circular economy. Productivity levels are being enhanced through component assembly & re-engineering, testing, and sub-assembly manufacturing. The automotive sector is a significant contributor, with OEMs relying on engineering services and logistics providers to ensure zero-waste nation goals and maintain industrial output. Moreover, the penetration of structural electronics in low-income individuals' daily lives, driven by population and urban growth, is expanding the market. Key components, such as LCD panels, connectors, and capacitors, are in high demand. Cybersecurity concerns are increasingly important in the electronics supply chain, especially amid the coronavirus pandemic. E-waste recycling is a critical aspect of the industry, as outlined in the Global E-waste Monitor 2020, and the push for greener electronic devices continues.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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