Pune, India, Nov. 16, 2022 (GLOBE NEWSWIRE) -- The global market for electronic manufacturing services market size was valued at USD 476.88 billion in 2021. The market is projected to grow from USD 504.22 billion in 2022 to USD 797.94 billion by 2029, exhibiting a CAGR of 6.8% during the forecast period. Fortune Business Insights, provide this information in its report titled, “Electronic Manufacturing Services Market Forecast, 2022-2029.”
Industry Developments:
- March 2021: Geophysical Technologies Inc. selected Benchmark Electronics, Inc. for volume production of next-gen seismic sensors ‘NuSeis NRU 1C’. Benchmark Electronics, Inc. provides high-volume manufacturing for NuSeis NRU 1C without scarifying production quality.
- November 2021: Celestica Inc. acquired PCI Private Limited, a Singapore-based electronics manufacturing services (EMS) provider, to expand its telematics, IoT, embedded systems, and human-machine interface (HMI).
Request a Sample Copy of Report:
Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2022 to 2029 |
| Forecast Period 2022 to 2029 CAGR | 6.8% |
| 2029 Value Projection | USD 797.94 Billion |
| Base Year | 2021 |
| Electronic Manufacturing Services Market Size in 2021 | USD 476.88 Billion |
| Historical Data for | 2018 to 2020 |
| No. of Pages | 120 |
| Segments covered | Service, Industry and Geography |
| Electronic Manufacturing Services Market Growth Drivers | Rising Demand for Electronic Vehicles to Propel Growth |
Restricted Electronic Manufacturing Services Market Growth Amid Pandemic
The outbreak of COVID-19 pandemic has affected various industries, including the electronics and technology sectors. Government imposed stringent restrictions on import/export policies interrupted the supply chain in the market. These factors and restrictions limited customers' production and supply of products. The companies faced reduced production and sales rate during the pandemic period. For instance, Jabil Inc. stated that its factories operated at 65-70% capacity due to the COVID-19 pandemic.
Click here to get the short-term and long-term impact of COVID-19 on this Market:
https://www.fortunebusinessinsights.com/electronic-manufacturing-services-ems-market-105519
Drivers & Restraints:
Rising Demand for Electronic Vehicles to Propel Growth
The market is expected to witness significant growth during the forecast period, owing to the rising demand for recyclable energy. The increasing demand for electronic vehicles is expected to boost the market during the projected period. Also, the development of greener electronic devices is expected to bolster market development and improve market share globally. These factors are likely to ensure the electronic manufacturing services (EMS) market growth in the coming years.
However, violation and intellectual property rights may hamper the market growth.
Segments:
Consumer Electronics Dominates electronic manufacturing services market To Acquire Global Reach
By service, the market is segregated into electronics manufacturing services, engineering services, test & development implementation, logistics services, and others.
Based on industry, the market is segmented into consumer electronics, automotive, heavy industrial manufacturing, aerospace & defense, healthcare, IT & telecom, and others.
By region, the electronic manufacturing services market is categorized into North America, South America, Europe, Asia Pacific, and the Middle East & Africa.
Regional Insights:
Asia Pacific Holds Highest Market Share Due to Emerging Technological Advancements
During the forecast period, Asia Pacific dominates the global electronic manufacturing services (EMS) market share due to rising demand for consumer electronics and telecommunication devices. Also, adopting technological advancements is expected to drive the market during the projected period. The region stood at USD 171.66 billion in 2021.
Europe holds the second-highest global market share. Electronic manufacturing service companies cooperate with major European automobile manufacturers such as Volkswagen, BMW, and Renault for PCBA assembly, research, prototype, and building. As a result, it is expected to drive the market in the coming years.
Have Any Query? Ask Our Experts:
Report Coverage:
The report provides complete information regarding market development and recent trends in the industry. Also, key developments implemented by major players in the market are discussed further in this report. Drivers & restraints affecting the market growth are elaborated along with potential development scope in the coming years. The impact of COVID-19 pandemic is highlighted in this report further.
Competitive Landscape:
Innovative Product Development Allow Companies to Attract Global Customers
The key market players focus on forming strategic alliances and supporting companies to expand their business globally. Also, implementing innovative product development strategies allows companies to enhance their product portfolio by adopting technological advancements in the industry. These strategies will enable key players to expand their business and attract global customers.
Access Full Report - Electronic Manufacturing Services Market:
https://www.fortunebusinessinsights.com/checkout-page/105519
Key Players Profiled in the 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)
Major Table of Contents:
- Global Electronic Manufacturing Services Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2018-2029
- Key Findings
- By Service (USD)
- Electronics manufacturing services
- Engineering services
- Test & Development Implementation
- Logistics Services
- Others
- By Industry (USD)
- Consumer Electronics
- Automotive
- Heavy Industrial Manufacturing
- Aerospace and Defense
- Healthcare
- IT and Telecom
- Other
- By Region (USD)
- North America
- South America
- Europe
- Middle East & Africa
- Asia Pacific
- North America Electronic Manufacturing Services Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2018-2029
- Key Findings
- By Service (USD)
- Electronics manufacturing services
- Engineering services
- Test & Development Implementation
- Logistics Services
- Others
- By Industry (USD)
- Consumer Electronics
- Automotive
- Heavy Industrial Manufacturing
- Aerospace and Defense
- Healthcare
- IT and Telecom
- Other
- By Country (USD)
- United States
- Canada
- Mexico
- South America Electronic Manufacturing Services (EMS) Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2018-2029
- Key Findings
- By Service (USD)
- Electronics manufacturing services
- Engineering services
- Test & Development Implementation
- Logistics Services
- Others
- By Industry (USD)
- Consumer Electronics
- Automotive
- Heavy Industrial Manufacturing
- Aerospace and Defense
- Healthcare
- IT and Telecom
- Other
- By Country (USD)
- Brazil
- Argentina
- Rest of South America
About Us:
Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.
Contact Us:
Fortune Business Insights™ Pvt. Ltd.
US: +1 424 253 0390
UK: +44 2071 939123
APAC: +91 744 740 1245
Email: sales@fortunebusinessinsights.com
