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).
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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.
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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.
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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
