BANGALORE, India, June 25, 2024 /PRNewswire/ -- Electronics Manufacturing Services (EMS) Market is Segmented by Type (Electronic Manufacturing, Engineering Services, Test Development and Implementation, Logistics Services), by Application (Consumer Electronics, Computer, Communications, Industrial, Automotive Electronics).
The Electronics Manufacturing Services (EMS) Market was estimated to be worth USD 509100 Million in 2023 and is forecast to a readjusted size of USD 735390 Million by 2030 with a CAGR of 4.8% during the forecast period 2024-2030.
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Major Factors driving the growth of Electronics Manufacturing Services (EMS) Market
The expansion of consumer electronics, automotive electronics, and industrial automation is driving the steady growth of the Electronics Manufacturing Services (EMS) market. EMS suppliers serve a variety of industries worldwide by providing a range of services, such as design, assembly, testing, and logistics management. Companies are spending more and more on EMS suppliers to shorten product life cycles, lower manufacturing costs, and preserve production volume flexibility due to the quick speed of technological innovation. Furthermore, the EMS environment is changing due to the shift towards smart devices, IoT solutions, and sustainable manufacturing processes. This is encouraging innovation and rivalry among industry players.
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TRENDS INFLUENCING THE GROWTH OF THE GLOBAL ELECTRONICS MANUFACTURING SERVICES MARKET:
One of the main factors propelling the growth of the Electronics Manufacturing Services (EMS) market is the demand for computers, including desktops, laptops, and servers. All industries are becoming more and more dependent on digital technology, which has increased demand for dependable, high-performance computing equipment. By providing specialized manufacturing skills that guarantee the successful and economical production of computer hardware, EMS providers are essential in addressing this need. Their services, which assist computer makers in maintaining high levels of quality and accelerating time-to-market, include component sourcing, PCB assembly, system integration, and rigorous testing. The complex and extensive manufacturing of computers depends on EMS suppliers, which has a substantial positive impact on the expansion of the EMS sector.
Because engineering services are essential to the design, development, and optimization of electronic products, they are propelling the Electronics Manufacturing Services (EMS) market's expansion. EMS businesses assist original equipment manufacturers (OEMs) in improving product functionality, cutting time-to-market, and increasing cost efficiency by providing comprehensive engineering solutions that include product design, prototyping, testing, and validation. Companies may ensure that their goods fulfill strict technical and regulatory standards while concentrating on innovation and core skills by utilizing the superior engineering capabilities of EMS suppliers. The EMS framework's integration of engineering services quickens the pace of product creation and stimulates market expansion as a whole.
Another major factor propelling the EMS market is the growing complexity of electrical gadgets. Advanced technologies like IoT connectivity, AI integration, and improved user interfaces are frequently found in modern devices, necessitating complex manufacturing procedures. The technological know-how, specialized tools, and quality control systems required to manufacture these intricate devices are possessed by EMS suppliers. They provide services including comprehensive testing, fast prototyping, and design for manufacturability (DFM) to make sure high-tech goods adhere to strict performance and quality standards. The market for EMS is being driven by the increasing complexity of electronic devices, which drives up demand for EMS providers' advanced manufacturing skills.
Among the main reasons why businesses outsource to EMS providers are cost effectiveness and a strategic focus on core capabilities. Businesses can limit inventory risks, cut labor expenses, and save capital expenditures on manufacturing buildings and equipment by utilizing EMS services. Businesses are able to devote more resources to marketing, customer service, and innovation because of this financial efficiency. Further lowering costs are provided by EMS providers' economies of scale, improved supply chain management, and procurement know-how. With the help of this outsourcing approach, businesses may take use of the affordable manufacturing solutions provided by EMS providers while concentrating on their key skills, such as product design and market strategy.
The need for specialized EMS providers is being driven by the electronics industry's escalating regulatory and quality standards. To guarantee dependability, safety, and compliance with environmental regulations, regulatory agencies from all over the world place strict standards on electronic equipment. With services like compliance testing, certification procedures, and adherence to industry standards like ISO and RoHS, EMS companies are prepared to handle these intricate requirements. Companies may guarantee that their products fulfill these strict criteria and lower the risk of non-compliance penalties and recalls by outsourcing to EMS providers. EMS providers are essential partners because of their capacity to continuously produce compliant, high-quality products, which drives the expansion of the EMS sector.
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ELECTRONICS MANUFACTURING SERVICES MARKET SHARE
HONHAI, Luxshare, and Pegatron are some of the major global participants in the electronics manufacturing services (EMS) industry. Over 40% of the market is occupied by the top three companies.
With a market share of almost 45%, Asia-Pacific is the largest, followed by North America and Europe, with respective market shares of 27% and 21%.
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Key Companies:
- Jabil
- Pegatron
- Venture
- Plexus
- Kaifa
- Celestica
- Sanmina
- SIIX
- HonHai
- Flex Ltd
- Wistron
- LUXSHARE
- Byd Electronics.
- Quanta
- Qisda Corporation
- USI
- New Kinpo
- Zollner
- Fabrinet
- Mitac
- Longcheer
- UMC
- Benchmark
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