The global electronic manufacturing services market was valued at USD 476.9 billion in 2022 and it is anticipated to grow further till USD 832.8 billion by 2032, at a CAGR of 5.7% during the forecast period.
An Electronic Manufacturing Services (EMS) provider is a company that offers a comprehensive set of services to design, manufacture, test, and deliver electronic components and assemblies for original equipment manufacturers (OEMs).
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The EMS industry has evolved over the past few decades in response to the needs of OEMs. In the early days of electronics manufacturing, OEMs typically designed their own products and then outsourced the manufacturing to third-party contract manufacturers. However, as electronics became more complex and the manufacturing process more specialized, OEMs began to focus on their core competencies and outsourced an increasing number of manufacturing functions to EMS providers.
Market Drivers and Trends
The key drivers of the EMS market are the continued outsourcing of manufacturing by Original Equipment Manufacturers (OEMs), the trend towards miniaturization of electronics, and the need for speed to market.
OEMs are increasingly outsourcing manufacturing to EMS providers in order to focus on their core competencies and reduce costs. The EMS industry has benefited from the trend towards the miniaturization of electronics, as the miniaturization of components has led to increased demand for EMS services.
The need for speed to market is another driver of the EMS market, as OEMs are under pressure to bring new products to market quickly in order to stay competitive.
Major Players in the Global Electronic Manufacturing Services Market
The key players studied in the market are Creation Technologies, Flextronics International, Integrated Microelectronics, Inc., Jabil Circuit, Inc., Key Tronic EMS, Celestica, Kimball Electronics, Inc., Plexus Corp, ESCATEC, and Sanmina Corporation among others.
COVID-19 Impact
In particular, the COVID-19 pandemic has accelerated the adoption of digital technologies in the healthcare industry, leading to new innovations and a rise in the use of virtual care at hospitals and other healthcare organizations. These innovations concentrate on enhancing patient outcomes, speeding the rate of digital innovation and presenting business prospects. Players in the market for electronic manufacturing services. Regular corporate processes have also been impacted by the pandemic, necessitating substantial digitalization. The growing reliance of consumers on technology for daily tasks, entertainment, and communication has benefited industrial development.
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Market Segmentation
By Services
- Design
- Testing
- Manufacturing & Production
By End-User
- Telecom & IT
- Consumer electronics
- Industrial
- Others
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