Electronic Manufacturing Services Market Is Expected To Generate A Revenue Of USD 689.15 billion By 2028

The latest market report published by Credence Research, Inc. is “Global Electronic Manufacturing Services Market: Growth, Future Prospects, and Competitive Analysis, 2016 – 2028”. The Global Electronic Manufacturing Services Market generated revenue of around USD 472.3 billion in 2021 and is anticipated to grow a CAGR of over 6.5% during the forecast period from 2022 to 2028 to reach around USD 689.15 billion in 2028.
Electronics Manufacturing Services (EMS) is the term used to describe businesses that create, produce, distribute, test, and offer repair/return services for electronic components and assemblies for original equipment manufacturers (OEMs). EMS refers to the entire industry and a particular group of businesses or subcontractors. In short, electronics manufacturing services companies offer original equipment manufacturers a wide range of value-added manufacturing and engineering outsourcing services, enhancing operational efficiencies, reducing production costs, and focusing on core activities such as research and development (R&D). Contract manufacturers' expanding functionalities, such as component assembly, design, and engineering of printed circuit boards (PCBs), sub-assembly manufacturing, and functional testing, are propelling the electronic manufacturing service industry forward. However, maintaining quality, cost control, and production volumes are expected to be challenging for contract electronic equipment manufacturers and design services contract provider companies.
The is bifurcated into Services, End-User Industry Types, and Geography. Based on the services, the market is categorized into the design, testing, manufacturing & production, and others. Based on the end-user industry type, the market is segmented into telecom & IT, consumer electronics, industrial, automotive, aerospace & defense, and others. The market is categorized geographically into North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.
The Asia Pacific dominated the global electronic manufacturing services market in 2021 due to major electronic manufacturing service providers such as China, Japan, South Korea, and India serving consumer electronics, semiconductors, and telecommunication device manufacturers. Besides, the rising usage of 3D and IoT technologies in many end-user industries pushes the growth of the region's electronic manufacturing services market outlook. The widespread availability of low-cost labor and raw materials is likely to favor the regional electronics manufacturing services companies.
Key driver of growth in the EMS market is the rising demand for outsourcing from original equipment manufacturers (OEMs). This is particularly true in developed markets such as North America and Europe, where OEMs are under pressure to reduce costs and improve efficiency. By outsourcing their manufacturing operations to EMS providers, OEMs can benefit from economies of scale and access to world-class facilities and expertise.
Finally, another driver of growth in the EMS market is the growing trend for companies to set up their own in-house manufacturing capabilities. This is often done in order to gain greater control over the manufacturing process and ensure a high level of quality. However, it can also be a costly exercise, which is why many companies choose to partner with an EMS provider instead.
Why to Buy This Report-
· The report examines the global electronic manufacturing services market by segment, current trends, drivers, restraints, opportunities, challenges, and market dynamics from 2016 to 2020, with 2021 as the base year and 2022-2028 as the projected period.
· The report provides competitive landscape information, such as how the market's key players operate at the global, regional, and country levels.
· In-depth analysis of the global electronic manufacturing services market segmentation by services and end-user industry type.
· The report contains comprehensive and authentic data for all factors, including CAGR, consumer purchasing trends, supply and demand, and major regional countries' import/export statistics.
· The electronic manufacturing services market report includes global, regional, and country-level market analysis, key market trends, market growth strategies, major players analysis, and key application areas.
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