The global electronic manufacturing services (EMS) market was worth US$ 525 Billion in the year 2022 and is expected to reach US$ 856 Billion by the year 2032 at a CAGR of 5% between 2022 and 2032.
Electronic manufacturing service providers do invest handsomely to obtain increased industrial output along with the implementation of novel technologies; thereby contributing to establish global standards.
Green electronic devices are amongst the ongoing trends and the status quo is expected to remain unchanged even in the forecast period. This could be credited to need for non-toxic chemicals with recyclable parts in the wake of environmentally-friendliness.
At the same time, violation of IP rights by SMEs is expected to restrain the electronic manufacturing services market; as developing economies do face challenges in devotion of resources to strengthen IP systems.
Future Market Insights has walked through these facets in its latest market study entitled ‘Electronic Manufacturing Services Market’. It has its line of expertise in the form of analysts and consultants to deploy a bottom-up approach in its primary, secondary, and tertiary modes of research.
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“With an exorbitant demand for electronic manufacturing services in healthcare, industrial, and automotive applications, the global electronic manufacturing services market is slated to grow on an impertinent note going forward”, says an analyst from Future Market Insights.
Key Takeaways from Electronic Manufacturing Services Market
- North America holds a sizable market share. This could be credited to low-cost consumer electronic products being made available to include smartphones, smart home products, and TVs from a wide spectrum of local manufacturers.
- Europe holds the second-largest market share with the region being home to various numerous manufacturers of automobiles. On these grounds, FCA (Fiat Chrysler Automobiles), in January 2020, entered into collaboration with Foxconn for producing and constructing electric automobiles for the market of China.
- The Asia-Pacific is expected to grow at the fastest rate in the electronic manufacturing services market with China, India, Japan, South Korea to lead from the front.
Competitive Services
- Foxconn, in May 2022, inked a contract with LMC (Lordstown Motors) as a joint venture or manufacturing agreement for development of products.
- Celestica Inc., in August 2021, did mark opening of its AbelConn Electronics facility at Maple Grove, Minn – an entirely owned subsidiary. The facility is known for providing volume manufacturing, rapid prototyping, and engineering support to aerospace and defense verticals.
- Foxconn, since August 2022, started looking at producing electric vehicles all over India as a portion of bigger diversification plan for expanding manufacturing facility outside China.
- Plexus Corp., in March 2021, did declare constructing 400,000 feet square production facility with the production and office space up to 4-levels and warehouse space of 2-levels in Bangkok.
- Ouster, Inc., in March 2021, entered into partnership with Benchmark Electronics, Inc. for scaling up production of high-resolution digital LiDAR sensors for enabling industrial automation, robotics, and automotive industries. The former would be leveraging the latter’s expertise in optics, PCB assemblies, automated testing, and microelectronics for scaling production.
- Jabil Healthcare, in March 2021, did enter into strategic collaboration with E3D for expanding the pharmaceutical services and offerings. This agreement implies that the former would develop auto-injectors to dose volumes and patient-centric advantages by engineering and designing new-fangled digital drug delivery devices all through.
- Hon Hai Precision Industry Co., Ltd., in November 2021, entered into an asset buying agreement with Lordstown Motors Corp.
- DYNICS, in October 2022, did announce extension of its partnership with SNCI for helping in installation of ProViewDS suite (a DYNICS product collection designed for easing data transparency as well as analysis with the systems’ operations; whereas SINCI plans increasing its usage in the projects inclusive of the ones helping in pharmaceutical businesses.
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What does the Report serve?
- The research study is based on industry (Electronic Manufacturing Services for Medical and Healthcare, Electronic Manufacturing Services for Defense and Aerospace, Electronic Manufacturing Services for Industrial Applications, Electronic Manufacturing Services for IT and Telecommunication, and Electronic Manufacturing Services for other Applications).
- With Electronic Manufacturing Services offering improvised flexibility by responding abrupt demands efficiently and quickly, the global electronic manufacturing services market is expected to grow on a good note in the forecast period.
Key Segments Covered in the Electronic Manufacturing Services Industry Analysis
Electronic Manufacturing Services Market by Industry:
- Electronic Manufacturing Services for Medical and Healthcare
- Electronic Manufacturing Services for Defence and Aerospace
- Electronic Manufacturing Services for Industrial Applications
- Electronic Manufacturing Services for IT and Telecommunication
- Electronic Manufacturing Services for Other Applications
Electronic Manufacturing Services Market by Region:
- North America Electronic Manufacturing Services Market
- Latin America Electronic Manufacturing Services Market
- Europe Electronic Manufacturing Services Market
- Asia Pacific Electronic Manufacturing Services Market
- Middle East & Africa Electronic Manufacturing Services Market
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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