Pune, India, Sept. 11, 2023 (GLOBE NEWSWIRE) -- Global electronic manufacturing services market size was valued at USD 503.91 billion in 2022 and is projected to reach USD 856.20 billion by 2030, exhibiting a CAGR of 7.0% during the forecast period. This information is provided by Fortune Business Insights™ in its report, titled “Electronic Manufacturing Services (EMS) Market Forecast, 2023-2030.”
Rising Inclination Toward R&D Activities to Propel the Demand for Engineering Services. The surge in adoption of Electronic Manufacturing Services (EMS) is propelled by increasing product adoption across industrial, automotive, and healthcare applications. Additional factor favoring industry growth is the rising investments by industry players toward the implementation of new technologies.
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Key Industry Development:
May 2023 – Hon Hai Precision Industry Co Ltd signed a partnership agreement with Infineon Technologies AG, an Electric Vehicle (EV) manufacturer. The partnership is aimed to provide the Electronic Manufacturing Services (EMS) for manufacturing activities.
Key Takeaways:
- Increasing Awareness of E-Waste Recycling is a Growing Trend
- Improvement of Greener Electronic Devices to Strengthen Market Prospects
- Engineering Services to Show Strong Growth Backed by Rising R&D by Electronic Assembly Materials Manufacturers
- Consumer Electronics Industry to Experience High Growth Owing to Favorable Government Initiatives
Discover the Leading Players Featured in the Report:
“Companies leading the Electronic Manufacturing Services Market are 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)”
Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2023 to 2030 |
| Forecast Period 2023 to 2030 CAGR | 7.0% |
| 2030 Value Projection | USD 856.20 Billion |
| Base Year | 2022 |
| Electronic Manufacturing Services Market Size in 2022 | USD 503.91 Billion |
| Historical Data for | 2019 to 2021 |
| No. of Pages | 196 |
| Segments covered | Service, Industry and Geography |
Browse Complete Report Details:
https://www.fortunebusinessinsights.com/electronic-manufacturing-services-ems-market-105519
Drivers and Restraints:
Rise in Industry Share Owing to Enhancements in Greener Electronic Devices
One of the significant factors propelling the Electronic Manufacturing Services (EMS) market growth is the escalating emergence of green electronic devices. The industry expansion is further propelled by the surging focus of industry players on the adoption of sustainable plans focused on the reduction of carbon emissions.
However, the industry expansion could be hampered by the lack of intellectual property rights and concerns of violation.
Segmentation:
By Service
- Electronics Manufacturing Services
- Engineering Services
- Test & Development Implementation
- Logistics Services
- Others
By Industry
- Consumer Electronics
- Automotive
- Heavy Industrial Manufacturing
- Aerospace and Defense
- Healthcare
- IT and Telecom
By Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
Regional Insights:
Asia Pacific to Emerge Prominent Driven by Rising Consumer Electronics Demand
The Asia Pacific Electronic Manufacturing Services (EMS) market share is estimated to depict appreciable growth over the study period. The surge is driven by the growing demand for consumer electronic devices in Australia, India, China, and Japan.
The North America market is anticipated to exhibit a considerable upsurge over the estimated period. The rise is propelled by the escalated availability of low-cost consumer electronic products.
Quick Buy - Electronic Manufacturing Services Market Research Report:
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Competitive Landscape:
Major Companies Enter into Strategic Deals to Strengthen Industry Position
Leading industry participants are focused on the adoption of a series of strategic initiatives for consolidating their market positions. These include an increase in research activities, growing participation in trade conferences, and the formation of alliances. Other steps include partnerships and collaborative agreements.
FAQ’s
How big is the Electronic Manufacturing Services Market?
Electronic Manufacturing Services Market size was USD 503.91 billion in 2022
How fast is the Electronic Manufacturing Services Market growing?
The Electronic Manufacturing Services Market will exhibit a CAGR of 7.0% during the forecast period, 2023-2030
Related Reports:
Engineering Services Outsourcing Market: Size, Trends, Growth 2030
EMS and ODM Market: Size, Share, Trends, Forecast 2030
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