Selbyville, Delaware , March 10, 2022 (GLOBE NEWSWIRE) --
The electronic manufacturing services market size is expected to record a valuation USD 750 billion by 2028, according to the most recent study by Global Market Insights Inc. The market growth is attributed to the increasing demand for advanced robotics, avionic sub-systems, and drones across the aerospace & defense sector. The OEMs operating in the aerospace & defense sector depend upon EMS providers to procure engineering services, logistics, and availing aftermarket services of high-end electronics used in aircraft. The proliferation of Unmanned Aerial Vehicles (UAVs) across developed economies, such as the U.S., China, Germany, and Japan, will further enhance the market expansion.
Request for a sample of this research report @ https://www.gminsights.com/request-sample/detail/2971
The test & development implementation segment captured more than 10% of the electronic manufacturing services market share in 2021 and is estimated to attain 4.5% growth rate through 2028 led by the increasing demand for reliable & efficient components production to avoid failures and uneven functioning. This service helps firms to provide high-quality products to their end-customers in the market. The growing complexities of devices are driving the demand for test & development of implementation equipment in the industry. Various players are focusing on launching electronic testing equipment, which can be integrated into electronic manufacturing facilities.
The consumer electronics application segment in the electronic manufacturing services market accounted 20% of revenue share in 2021 and is anticipated to register 5.5% CAGR by 2028. The growth is owing to the increasing demand for consumer electronics devices across developing economies. Various consumer electronic devices, such as smartphones, tablets, smartwatches, smart TVs, and wearable electronics, are witnessing high penetration because of a rise in consumer awareness and decreasing product prices.
Europe electronic manufacturing services market is predicted to grow at more than 5.5% CAGR till 2028 propelled by the increasing gaming hardware industry across the UK. According to the March 2021 press release by Association for UK Interactive Entertainment (UKIE), the UK video games industry held USD 9.33 billion in 2020, with a y-oy growth rate of over 29.9% compared to 2019. The gaming console hardware segment exceeded USD 1.13 billion in 2020, with a y-o-y growth rate of 74.8% in 2020 compared to 2019. The large-scale acceptance of digital PCs, VR/AR, gaming consoles, and other gaming hardware across the UK will foster the market.
Some of the major participants operating in the market are Foxconn, Compal Electronics, Inc., Jabil, Inc., FLEX LTD, Inventec, Quanta Computer lnc., Fabrinet, Keytronic, Sparton Corporation, Sanmina Corporation, and Wistron Corporation. These companies are constantly focusing on gaining new contracts and manufacturing orders from OEMs to outperform their competition
Request for customization of this research report @
https://www.gminsights.com/roc/2971
Some of the major findings of the electronic manufacturing services market report include:
- The growing adoption of advanced safety systems in passenger cars will create high growth opportunities in the market. The industry leaders focus on high-volume manufacturing of advanced safety systems, such as lane departure warning systems, adaptive cruise control, and advanced telematics, which will boost the market value during the forecast timeframe.
- The engineering services segment is projected to observe a high growth rate during the forecast timeline on account of the increasing demand for application-specific and customized electronic devices by OEMs. The establishment of dedicated engineering centers across various geographies by EMS vendors will spur the industry expansion.
- The rising demand for medical robots in the healthcare sector due to COVID-19 is one of the major factors fueling the industry growth. Hospitals are incorporating advanced medical robots to monitor patients remotely & effectively to avoid the spread of the virus. These robots are integrated with several ICs, sensors, PCBs, and other semiconductor components, further supporting the market demand for EMS providers.
- The COVID-19 pandemic has had a moderate impact on the electronic manufacturing services market. The increasing trend of online education and work-from-home policies has increased the demand for various computing hardware including laptops, desktops/PCs, and tablets during the pandemic. The computer OEMs outsourced manufacturing services from EMS vendors to expedite the required customer orders during the pandemic.
- The Asia Pacific region is observing a high industry share driven by the presence of several raw material and component providers in the region. Favorable government policies to support the consumer electronics manufacturing in countries, such as India, Japan, Taiwan, and China, will stimulate the industry progression.
Table of Contents (ToC) of the report:
Chapter 3 Electronic Manufacturing Services Market Insights
3.1 Industry segmentation
3.2 Impact analysis of corona virus (COVID-19) pandemic on market
3.2.1 Global outlook
3.2.2 Impact by region
3.2.3 Industry value chain
3.2.4 Competitive landscape
3.3 Industry ecosystem analysis
3.3.1 Raw material and component supplier
3.3.2 EMS providers
3.3.3 OEMs
3.3.4 Vendor matrix
3.4 Technology & innovation landscape
3.4.1 Production design outsourcing
3.4.2 Manufacturing integration
3.4.3 Big Data & IoT
3.4.4 3D printing
3.5 Regulatory landscape
3.6 Industry impact forces
3.6.1 Growth drivers
3.6.2 Industry pitfalls and challenges
3.7 Growth potential analysis
3.8 Porter’s analysis
3.9 PESTEL analysis
Browse Complete Table of Contents (ToC) @
https://www.gminsights.com/toc/detail/electronic-manufacturing-services-ems-market
About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
