Electronic Manufacturing Services Market revenue to reach USD 1200 Billion by 2036, says Research Nester

Major electronic manufacturing services (EMS) market players include General Electric Company, Hon Hai Precision Industry Co., Ltd., Benchmark Electronics, Inc, WISTRON CORPORATION, Koninklijke Philips N.V., Quanta Computer lnc., ams-OSRAM International GmbH., Kimball Electronics Jabil Inc., and Plexus Corp.


New York, Oct. 24, 2023 (GLOBE NEWSWIRE) -- The global electronic manufacturing services market size is projected to grow at a CAGR of over ~7% from 2024 to 2036. The market is expected to garner a revenue of USD 1200 billion by the end of 2036, up from a revenue of ~USD 534 billion in the year 2023.The demand for consumer electronics has been steadily increasing over the past few years, with no signs of slowing down. As people become more connected and reliant on technology, the need for devices such as smartphones, laptops, and tablets continue to grow.

Request Free Sample Copy of this Report @ https://www.researchnester.com/sample-request-4833

In 2022 it was expected that consumer electronics generated more than USD 80 million[R1] , in sales through ecommerce showing a growth of 6% compared to the previous year. This increase in demand has led to a surge in the EMS market, as companies scramble to keep up with production needs.

Advancements in Technology to Boost Market Growth

The EMS market has been experiencing significant growth due to advancements in technology. With the rise of Industry 4.0, EMS providers are adopting new technologies like automation, artificial intelligence, and robotics to improve their operations. These technologies are not only helping them to reduce costs but also increasing efficiency and quality. According to a survey conducted in 2019[R2]  the majority of respondents (over 87%) expressed their belief that smart factory initiatives will play a role, in driving the growth of the EMS industry over the next five years.

One of the latest technologies that is being used in the EMS industry is the Internet of Things (IoT). IoT devices are being integrated into manufacturing processes to provide real-time data and insights. This is enabling EMS providers to optimize their production processes and reduce downtime. Additionally, machine learning algorithms are being used to analyze this data and identify patterns that can be used to further improve the manufacturing process.

Electronic Manufacturing Services Market: Regional Overview

The market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa region. 

Rising Demand For Consumer Electronics to Drive the Growth in the Asia Pacific Region

The electronic manufacturing services market in the Asia Pacific region is estimated to garner the largest revenue by 2036. This can be attributed to the rising demand for consumer electronics in emerging economies such as India and China, as well as the increasing use of automated technologies in the manufacturing process. Additionally, the presence of a large number of semiconductor manufacturers in the region, coupled with the growing penetration of smartphones, tablets, and other connected devices, is driving the demand for EMS services in the region. For instance, the Asia Pacific region holds the title for being the market for semiconductors making up around 60[R3] % of global semiconductor sales. China alone contributes to, over 30% of this market share.

Make an Inquiry Before Buying this Report @ https://www.researchnester.com/inquiries-before-buying-4833

High Concentration Of Semiconductor And Electronic Component Manufacturers to Drive the Growth in the North America Region

The North America electronic manufacturing services market is estimated to garner the largest revenue by the end of 2036. This is due to the region's high concentration of semiconductor and electronic component manufacturers, as well as the increasing demand for products such as sensors, solar devices, and conductors from the automotive and aerospace industries. Furthermore, the region's strong research and development activities are expected to contribute to the future growth of the market. North America's financial position allows it to invest heavily in research and development with a R&D expenditure of USD[R4]  706.1 billion, in 2019. This investment has allowed companies in the region to develop innovative solutions that are driving the growth of industries such as artificial intelligence, machine learning, and robotics, which are all key drivers of the electronics manufacturing services market.

Electronic Manufacturing Services Segmentation by Service Type

  • Electronics Manufacturing
  • Engineering Services
  • Test & Development
  • Implementation
  • Logistics Services

The electronics manufacturing segment in electronic manufacturing services market is anticipated to hold the largest revenue by 2036. This growth is driven by increasing demand for electronic devices due to population growth, technological advances, and increasing disposable incomes. As the number of electronics devices increases, so does the demand for the components that make them, such as semiconductors, printed circuit boards, and other components. This increased demand will drive demand for Electronic Manufacturing Services, as companies will need to outsource the production of these components. Furthermore, the electronics manufacturing segment is also witnessing an increase in demand for automation, miniaturization, and other advanced features, which are expected to further drive the electronics manufacturing segment's growth.

Electronic Manufacturing Services Segmentation by Application

  • Consumer Electronics
  • Industrial
  • Medical and Instrumentation
  • Aerospace & Defense
  • IT & Telecom
  • Automotive
  • Semiconductor Manufacturing
  • Robotic

The industrial segment is anticipated to hold the largest revenue by the end of 2035. The demand for industrial products is growing at a rapid pace, and this is expected to continue in the coming years. In August 2023[R5]  there was a 0.4 percent increase in production, within the United States while manufacturing output saw a slight uptick of 0.1 percent. Additionally, the research and development of new technologies is driving the demand for more complex and specialized products, which is further increasing demand for industrial products and services. Furthermore, the rapidly developing industrialization and increasing automation of different industrial processes are driving the growth of the market.

Request for Customization of this Report @ https://www.researchnester.com/customized-reports-4833

A few of the well-known industry leaders in the electronic manufacturing services market that are profiled by Research Nester are General Electric Company, Hon Hai Precision Industry Co., Ltd., Benchmark Electronics, Inc, WISTRON CORPORATION, Koninklijke Philips N.V., Quanta Computer lnc., ams-OSRAM International GmbH., Kimball Electronics Jabil Inc., Plexus Corp., and other key market players.

Recent Development in the Electronic Manufacturing Services Market

  • Yield Engineering System has partnered with Benchmark Electronics Inc., a established company known for its expertise in global manufacturing, design and engineering services. As a result of this collaboration Benchmark Electronics Inc. has expanded the capacity of their production line in Malaysia.
  • Plexus Corp. has recently announced their intention to develop a manufacturing facility in Bangkok, Thailand. This facility will cover an area of 400,000 square feet and will consist of four levels dedicated to office space two levels for production and warehousing as well, as two additional levels specifically designed for production purposes.

About Research Nester

Research Nester is a one-stop service provider with a client base in more than 50 countries, leading in strategic market research and consulting with an unbiased and unparalleled approach towards helping global industrial players, conglomerates and executives for their future investment while avoiding forthcoming uncertainties. With an out-of-the-box mindset to produce statistical and analytical market research reports, we provide strategic consulting so that our clients can make wise business decisions with clarity while strategizing and planning for their forthcoming needs and succeed in achieving their future endeavors. We believe every business can expand to its new horizon, provided a right guidance at a right time is available through strategic minds.

 

Coordonnées