The global electronics manufacturing services market is anticipated to grow at a CAGR of nearly 7.5% during the forecast period (2022-2028). The major factor expected to drive the market growth is the rising demand for electronic manufacturing services in healthcare, industrial, and automotive sectors. The service providers are heavily focusing on providing features such as sub-assembly manufacturing, designing printed circuit boards (PCBs), testing, and component assembly and re-engineering, which in turn, is driving the growth of the market. Furthermore, there is an increased investment in electronics manufacturing services companies for the implementation of new technologies. For instance, the growing trend of high-volume manufacturing of advanced safety systems among automotive sector such as adaptive cruise control, parking assistance systems, lane departure warning systems, and advanced telematics are supporting the demand for EMS. The rising need for fast delivery of products in the market and managing logistics services, companies that manufacture consumer electronics such as computers are switching towards EMS providers. This aims to improve their mass production of computing solutions such as desktops, laptops, and portable PCs.
Some major players in the market include Sanmina Corp., Flex Ltd., and Benchmark Electronics, Inc., among others. The market players are contributing significantly to the growth of the market by the adoption of various strategies including mergers & acquisitions, geographical expansion, partnerships and collaborations, and new product launches, to stay competitive in the market. For instance, in March 2021, Ouster, Inc. and Benchmark Electronics, Inc. partnership to scale up the production of its high-resolution digital LIDAR sensors for smart infrastructure, automotive industries, robotics, and industrial automation. Ouster Inc. add that the company is utilizing Benchmark Electronics Inc.’s expertise in PCB assemblies, microelectronics, optics, and automated testing to scale production. In addition, in November 2021, Hon Hai Precision Industry Co., Ltd. and Lordstown Motors Corp. entered a partnership agreement. According to the agreement Lordstown Motors Corp. sold the Lordstown facility to the Hon Hai Precision Industry Co., Ltd. for $230 million.
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Market Coverage
The market number available for – 2021-2028
Base year- 2021
Forecast period- 2022-2028
Segment Covered-
By Service
By Industry
Regions Covered-
North America
Europe
Asia-Pacific
Rest of the World
Top Major Key Players:
Sanmina Corp., Flex Ltd., and Benchmark Electronics, Inc., among others.
Key questions addressed by the report
What is the market growth rate?
Which segment and region dominate the market in the base year?
Which segment and region will project the fastest growth in the market?
How has COVID-19 impacted the market?
Deviation from the pre-COVID-19 forecast
Most affected region and segment
Who is the leader in the market?
How players are addressing challenges to sustain growth?
Where is the investment opportunity?
A full report of electronics manufacturing services market is available at:
https://orionmarketreports.com/global-electronics-manufacturing-services-ems-market/97111/
Global Electronics Manufacturing Services Market Report by Segment
By Service
Electronics Manufacturing Services
Engineering Services
Test and Development Implementation
Logistics Services
Others
By Industry
Consumer Electronics
Automotive
Heavy Industrial Manufacturing
Aerospace and Defense
Healthcare
IT and Telecom
Others
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