New York, Feb. 23, 2023 (GLOBE NEWSWIRE) -- According to the research report by Reports Insights, the Electronic Manufacturing Services (EMS) Market is expected to grow at a CAGR of 6.9% from 2023 to 2030, reaching USD 878.02 Million by 2030. The market was valued at USD 501.58 Million in 2022. The market analysis includes a detailed study of the market size, share, and trends based on services, industry, and regions. The services covered include electronics manufacturing services, engineering services, logistics services, test & development implementation, and others.
The industries covered are aerospace & defense, automotive, consumer electronics, healthcare, heavy industrial manufacturing, and IT & telecommunication. The report provides a comprehensive analysis of the market trends and drivers, challenges, opportunities, and competitive landscape of the market.
The growth of the market is attributed to the increasing demand for customized electronics products and rising outsourcing of manufacturing services by OEMs. The consumer electronics industry is expected to hold the largest market share due to the increasing demand for electronics products such as smartphones, laptops, and tablets.
The Asia Pacific region is expected to witness significant growth due to the presence of a large number of electronic manufacturers and increasing government initiatives to promote electronics manufacturing in countries such as China, Japan, and India.
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List of Major Electronic manufacturing services Market Players
The market research report examines various market factors to determine the key drivers, limitations, and opportunities affecting market players. The report includes a SWOT analysis, regional analysis, and segment analysis to give a complete view of the market situation. This evaluation helps to identify possible growth opportunities through the implementation of technology, product utilization, business strategies, and the launch of new products. The following are major market players operating in the market environment —
- Sanmina Corporation
- Hon Hai Precision Industry Co. Ltd (Foxconn),
- Benchmark Electronics Inc.
- Flex Ltd
- Jabil Inc.
- Celestica Inc.
- Wistron Corporation
- Plexus Corporation
- Fabrinet
- COMPAL Inc.
Recent Developments
- In October 2022, Rockwell Automation announced to acquire CUBIC, a leading provider of industrial automation and power management solutions. The goal of this acquisition is to enhance Rockwell Automation's portfolio of low-voltage electrical components.
- In June 2022, Flex Ltd. announced the expansion of its regional strategic automotive manufacturing hub in Jalisco, Mexico. The expansion is aimed at enabling the development and production of next-generation mobility solutions, including electric vehicles and autonomous driving technologies.
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Electronic Manufacturing Services (EMS) is the term used to describe companies that offer a range of electronic manufacturing services to other companies. EMS companies provide a variety of services, including design, assembly, testing, packaging, and distribution of electronic products among others. Further, EMS companies typically work with clients who require electronic products in large quantities, such as consumer electronics, automotive, medical, and aerospace industries.
Additionally, EMS companies provide a range of services to clients, including printed circuit board (PCB) design & assembly, surface mount technology (SMT) assembly, cable & harness assembly, final assembly, testing, and quality control among others. EMS companies also offer value-added services including product customization, packaging, and logistics support.
Moreover, companies are increasingly outsourcing their electronics manufacturing operations to EMS providers in order to focus on their core competencies. For instance, in March 2022, Sanmina Corporation and Reliance Industries Limited announced the creation of a joint venture for electronics manufacturing services in India. The goal of the joint venture is to bring together Sanmina's expertise in electronics manufacturing and Reliance's experience in creating world-class manufacturing infrastructure in India.
| Report Attributes | Report Details |
| Market Size By 2030 | USD 878.02 Million |
| Forecast Period | 2023-2030 |
| CAGR (2023-2030) | 6.9% |
| Base Year | 2022 |
| Study Timeline | 2017-2030 |
| Key Players | Sanmina Corporation, Hon Hai Precision Industry Co. Ltd (Foxconn), Benchmark Electronics Inc., Flex Ltd, Jabil Inc., Celestica Inc., Wistron Corporation, Plexus Corporation, Fabrinet, COMPAL Inc. |
| By Service | Electronics Manufacturing Services, Engineering Services, Logistics Services, Test & Development Implementation, and Others |
| By Industry | Aerospace & Defense, Automotive, Consumer Electronics, Healthcare, Heavy Industrial Manufacturing, and IT & Telecommunication |
| Report Coverage | Company Ranking and Market Share, Growth Factors, Total Revenue Forecast, Regional Competitive Landscape, Business Strategies, and more. |
| By Geography | Asia-Pacific, Europe, North America, South America, Middle East & Africa |
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Key Market Highlights
- The global electronic manufacturing services Market size is estimated to exceed USD 878.02 million by 2030 and grow at a CAGR of 6.9% during the forecast period (2023-2030).
- Globally, electronic manufacturing services are divided based on the services into electronics manufacturing services, engineering services, logistics services, test & development implementation, and others.
- On the basis of application, the market is categorized into aerospace & defense, automotive, consumer electronics, healthcare, heavy industrial manufacturing, and IT & telecommunication.
- The market is geographically divided into five regions: Europe, Latin America, the Asia-Pacific, North America, and the Middle East and Africa.
- Asia Pacific and North America are estimated to support the market growth during the forecast period in terms of the large presence of market players along with technological advancements in manufacturing services.
Electronic manufacturing services Market Segmentation Details:
Based on service, the electronic manufacturing services is anticipated to offer substantial shares to the electronic manufacturing services market growth during the forecast period. EMS helps companies in cost saving, increasing efficiency, and flexibility which boosts market growth. Further, the companies are turning to EMS providers to design and manufacture customized products that meet customers' specific needs.
Based on application, the growing IT and Telecommunication contributed the market growth of EMS in 2022. The growth of IT and telecommunication industry is attributed to the increasing adoption of cloud computing, the growth of the Internet of Things (IoT), and the rise of 5G networks. Further, there has been for instance, in April 2022, Viking Enterprise Solutions (Sanmina Corporation) launched a new Cloud Native Obsidian (CNO) solution. The new solution is designed to provide customers with a highly scalable and cost-effective storage option. Furthermore, growing demand for consumer electronic products including smartphones, wearables, and laptops among others is further boosting the market growth.
Based on region, Asia Pacific accounted for the largest share contribution to the market growth in 2022. Factors including the availability of a skilled workforce and supportive government policies are boosting the electronic manufacturing services market in the region. Further, the Asia-Pacific region is home to a large and growing consumer electronics market. As demand for electronic products continues to increase, the EMS industry is well-positioned to meet the growing demand. Furthermore, North America is anticipated to witness significant growth owing to the large and established technology sector, with many major companies including Apple, Google, and Microsoft.
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Global electronic manufacturing services Market Segmentation:
- By Service
- Electronics Manufacturing Services
- Engineering Services
- Logistics Services
- Test & Development Implementation
- Others
- By Application
- Aerospace & Defense
- Automotive
- Consumer Electronics
- Healthcare
- Heavy Industrial Manufacturing
- IT & Telecommunication
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