The global electronic manufacturing services market is expected to be valued at US$ 541554.4 million in 2023. Growth is attributed to the increasing demand and sales of consumer electronics. The overall demand for electronic manufacturing services is projected to grow at a CAGR of 4.7% between 2023 and 2033, totalling around US$ 859959.3 million by 2033.
| Data Points | Key Statistics |
|---|---|
| Growth Rate (2018 to 2022) | 2.6% CAGR |
| Projected Growth Rate (2023 to 2033) | 4.7% CAGR |
| Expected Market Value (2023) | US$ 541554.4 million |
Electronic manufacturing services (EMS) are provided by companies that design, assemble, produce, and test electronic components and printed circuit board (PCB) assemblies for original equipment manufacturers (OEMs). EMS companies may provide a variety of manufacturing services, including design, assembly, and testing
Electronic manufacturing services have eliminated the need for companies, to manufacture and store huge inventories of electronic components and products. Electronic Manufacturing Services provider offers enhanced flexibility by responding to sudden demands quickly and efficiently.
The services provided include product management, supply chain management services, design engineering services, test engineering services, box build services, and others.
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The global demand for electronic manufacturing services is projected to increase at a CAGR of 5% during the forecast period between 2022 and 2032, reaching a total of US$ 856,201 million in 2032, according to a report from Future Market Insights (FMI). From 2017 to 2021, sales witnessed significant growth, registering a CAGR of 4.5%.
The electronic manufacturing industry is considered a front-runner in terms of leading technological advances, both in presenting new ideas and implementing them in their products. The recent advancement of medical devices and the adoption of sustainable equipment have gushed the demand for electronic manufacturing services.
The extensive growth in the IT & Telecom sector has reflected the overall increase in connectivity throughout the world. With the increasing adoption of smart devices, technologies like IoT & Big data are playing an imperative role in the electronic manufacturing industry. Smart devices improve efficiency, reducing human error and the time from design to final production. The improved analytics allow EMS companies to create intelligent solutions and fine-tune their processes with real-time data. Solutions are rapidly being implemented in manufacturing facilities. Owing to these factors, the electronic manufacturing services market is projected to witness significant growth throughout the forecast period.
Extensive Application in Several End-use Industries is anticipated to Accelerate Market Growth
Electronic manufacturing services offer flexibility aligned with market demand, provides a continuous supply of services, mitigate risk, and reduce the overall operational cost of a company. These factors are expected to, drive the growth of the electronic manufacturing services market in the forecasting period.
Continuously increasing demand and sales of consumer electronics globally are expected to rise in the forecast period. This demand correspondingly increases the adoption and implementation of electronic manufacturing services, which as a result, drives the global Electronics Manufacturing Services market.
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Rising Preference for Latest Technology & Product Updating May Restrict the Market Expansion
No market is devoid of challenges and the global electronic manufacturing services market is no exception. One of the primary factors restraining market growth is the rising trend toward short product lifecycles is critically affecting the EMS industry.
Also, rapidly changing consumer preferences require EMS companies to maintain fast and effective New Product Introduction processes which may hinder the growth of the electronic manufacturing services market.
Robust Growth in Electronics Industry is likely to Catalyse Regional Sales
North America was the largest market for the electronic manufacturing services market and the trend is expected to continue into the forecast period owing to the rapid technological advancement in the region and continuously increasing demand from the end-user industries for continuous improvements are expected to augment the electronic manufacturing services market. The region is forecast to have a 26.7% total share of the electronic manufacturing services market.
Prominent players in the region are making technological advancements in electronic manufacturing services which are anticipated to boost the market growth. For instance, IN Sept 2021, Sanmina Corporation, a leading integrated manufacturing solutions company announced that it is strengthening its focus on its extensive optical, radio frequency (RF), and microelectronics (micro) design and manufacturing capabilities to capitalize on the growing demand for highly-integrated technology products.
Increasing Adoption of Advanced Technologies like Big data, IoT, and Machine Learning is anticipated to Expand European Market Share
Europe is likely to dominate the global electronic manufacturing services market due to fairly mature markets in terms of technology progression and is likely to display a steady growth rate during the forecast period.
With an increase in R&D activities and growing consumption of consumer electronics, the Europe region is anticipated to showcase a significant growth rate in the electronic manufacturing services market in forthcoming years.
An increase in the number of key players, and rapid development in the technology infrastructure boost the growth of the market in the region. Europe accounts for a total 24.9% share of the global electronic dictionary market.
The Presence of Prominent Players in the region is projected to Propel Regional Market Growth
The Asia Pacific accounts for a higher share of the global electronic manufacturing services market in forecasting years owing to the presence of large electronic manufacturing service providers like china, India serving consumer electronics, semiconductors, and telecommunication devices manufacturers.
However, in recent times, with an increment in labor cost in the region, several countries such as China and other Southeast Asian countries are concentrating on re-inventing themselves as manufacturers of complex products. For instance, Vietnam is anticipated to emerge as the next epicenter of electronics component production due to funds offered by tech giants such as Samsung Electronics and LG Electronics, which have augmented the country’s prominence in this supply chain. All these factors are poised to enhance the regional market.
Besides, the increasing usage of IoT and 3D technologies in many end-user industries pushes the growth of the electronic manufacturing services market in the region.
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The global electronic manufacturing services market is segmented into Applications and regions. Based on the application segment, the IT & Telecom subtype captures the highest share in 2022 and is expected to be the fastest growing segment of the Electronic Manufacturing Services market during the forecast period.
The upward trend of IoT and its extensive adoption is estimated to support the telecom industry in terms of revenue generation and infrastructure expansion, which is subsequently projected to drive the market over the forecast years. Besides, mobile connectivity has improved tremendously during the past four to five years and penetration of wireless devices has witnessed robust growth over the years. This trend is poised to continue over the next few years and positively impact the telecom EMS market growth.
With such exceptional growth in the telecom world, players are often challenged to keep pace with their products as well as service offerings. Yet, with changing market dynamics in the telecom sector and growing emphasis on offering higher customer value, equipment vendors are aiming to make it big in the service offering field. Therefore, the industry has been experiencing a shift toward outsourcing activities. This is, in turn, fuelling the growth of the market.
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 4.7% from 2023 to 2033 |
| Market Value in 2023 | US$ 541554.4 million |
| Market Value in 2033 | US$ 859959.3 million |
| Base Year for Estimates | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in US$ million and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segments Covered |
|
| Regions Covered |
|
| Key Countries Profiled |
|
| Key Companies Profiled |
|
In 2023, the electronic manufacturing services market holds a valuation of US$ 541554.4 million.
The global electronic manufacturing services market's growth trajectory points toward US$ 859959.3 by 2033.
The electronic manufacturing services market is anticipated to exhibit a CAGR of 4.7% through 2033.
North America is anticipated to contribute 26.7% of the global revenue in 2023.
The IT and telecom sector segment is expected to maintain its dominance through 2033.
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Investment Feasibility Matrix
3.5. PESTLE and Porter’s Analysis
3.6. Regulatory Landscape
3.6.1. By Key Regions
3.6.2. By Key Countries
3.7. Regional Parent Market Outlook
4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033
4.1. Historical Market Size Value (US$ Million) Analysis, 2018 to 2022
4.2. Current and Future Market Size Value (US$ Million) Projections, 2023 to 2033
4.2.1. Y-o-Y Growth Trend Analysis
4.2.2. Absolute $ Opportunity Analysis
5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Industry
5.1. Introduction / Key Findings
5.2. Historical Market Size Value (US$ Million) Analysis By Industry, 2018 to 2022
5.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Industry, 2023 to 2033
5.3.1. Medical and Healthcare
5.3.2. Defence and Aerospace
5.3.3. Industrial Applications
5.3.4. IT and Telecommunication
5.3.5. Other Applications
5.4. Y-o-Y Growth Trend Analysis By Industry, 2018 to 2022
5.5. Absolute $ Opportunity Analysis By Industry, 2023 to 2033
6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region
6.1. Introduction
6.2. Historical Market Size Value (US$ Million) Analysis By Region, 2018 to 2022
6.3. Current Market Size Value (US$ Million) Analysis and Forecast By Region, 2023 to 2033
6.3.1. North America
6.3.2. Latin America
6.3.3. Western Europe
6.3.4. Eastern Europe
6.3.5. South Asia and Pacific
6.3.6. East Asia
6.3.7. Middle East and Africa
6.4. Market Attractiveness Analysis By Region
7. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
7.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
7.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
7.2.1. By Country
7.2.1.1. USA
7.2.1.2. Canada
7.2.2. By Industry
7.3. Market Attractiveness Analysis
7.3.1. By Country
7.3.2. By Industry
7.4. Key Takeaways
8. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
8.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
8.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
8.2.1. By Country
8.2.1.1. Brazil
8.2.1.2. Mexico
8.2.1.3. Rest of Latin America
8.2.2. By Industry
8.3. Market Attractiveness Analysis
8.3.1. By Country
8.3.2. By Industry
8.4. Key Takeaways
9. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
9.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
9.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
9.2.1. By Country
9.2.1.1. Germany
9.2.1.2. UK
9.2.1.3. France
9.2.1.4. Spain
9.2.1.5. Italy
9.2.1.6. Rest of Western Europe
9.2.2. By Industry
9.3. Market Attractiveness Analysis
9.3.1. By Country
9.3.2. By Industry
9.4. Key Takeaways
10. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
10.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
10.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
10.2.1. By Country
10.2.1.1. Poland
10.2.1.2. Russia
10.2.1.3. Czech Republic
10.2.1.4. Romania
10.2.1.5. Rest of Eastern Europe
10.2.2. By Industry
10.3. Market Attractiveness Analysis
10.3.1. By Country
10.3.2. By Industry
10.4. Key Takeaways
11. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
11.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
11.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
11.2.1. By Country
11.2.1.1. India
11.2.1.2. Bangladesh
11.2.1.3. Australia
11.2.1.4. New Zealand
11.2.1.5. Rest of South Asia and Pacific
11.2.2. By Industry
11.3. Market Attractiveness Analysis
11.3.1. By Country
11.3.2. By Industry
11.4. Key Takeaways
12. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
12.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
12.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
12.2.1. By Country
12.2.1.1. China
12.2.1.2. Japan
12.2.1.3. South Korea
12.2.2. By Industry
12.3. Market Attractiveness Analysis
12.3.1. By Country
12.3.2. By Industry
12.4. Key Takeaways
13. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
13.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
13.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
13.2.1. By Country
13.2.1.1. GCC Countries
13.2.1.2. South Africa
13.2.1.3. Israel
13.2.1.4. Rest of MEA
13.2.2. By Industry
13.3. Market Attractiveness Analysis
13.3.1. By Country
13.3.2. By Industry
13.4. Key Takeaways
14. Key Countries Market Analysis
14.1. USA
14.1.1. Pricing Analysis
14.1.2. Market Share Analysis, 2022
14.1.2.1. By Industry
14.2. Canada
14.2.1. Pricing Analysis
14.2.2. Market Share Analysis, 2022
14.2.2.1. By Industry
14.3. Brazil
14.3.1. Pricing Analysis
14.3.2. Market Share Analysis, 2022
14.3.2.1. By Industry
14.4. Mexico
14.4.1. Pricing Analysis
14.4.2. Market Share Analysis, 2022
14.4.2.1. By Industry
14.5. Germany
14.5.1. Pricing Analysis
14.5.2. Market Share Analysis, 2022
14.5.2.1. By Industry
14.6. UK
14.6.1. Pricing Analysis
14.6.2. Market Share Analysis, 2022
14.6.2.1. By Industry
14.7. France
14.7.1. Pricing Analysis
14.7.2. Market Share Analysis, 2022
14.7.2.1. By Industry
14.8. Spain
14.8.1. Pricing Analysis
14.8.2. Market Share Analysis, 2022
14.8.2.1. By Industry
14.9. Italy
14.9.1. Pricing Analysis
14.9.2. Market Share Analysis, 2022
14.9.2.1. By Industry
14.10. Poland
14.10.1. Pricing Analysis
14.10.2. Market Share Analysis, 2022
14.10.2.1. By Industry
14.11. Russia
14.11.1. Pricing Analysis
14.11.2. Market Share Analysis, 2022
14.11.2.1. By Industry
14.12. Czech Republic
14.12.1. Pricing Analysis
14.12.2. Market Share Analysis, 2022
14.12.2.1. By Industry
14.13. Romania
14.13.1. Pricing Analysis
14.13.2. Market Share Analysis, 2022
14.13.2.1. By Industry
14.14. India
14.14.1. Pricing Analysis
14.14.2. Market Share Analysis, 2022
14.14.2.1. By Industry
14.15. Bangladesh
14.15.1. Pricing Analysis
14.15.2. Market Share Analysis, 2022
14.15.2.1. By Industry
14.16. Australia
14.16.1. Pricing Analysis
14.16.2. Market Share Analysis, 2022
14.16.2.1. By Industry
14.17. New Zealand
14.17.1. Pricing Analysis
14.17.2. Market Share Analysis, 2022
14.17.2.1. By Industry
14.18. China
14.18.1. Pricing Analysis
14.18.2. Market Share Analysis, 2022
14.18.2.1. By Industry
14.19. Japan
14.19.1. Pricing Analysis
14.19.2. Market Share Analysis, 2022
14.19.2.1. By Industry
14.20. South Korea
14.20.1. Pricing Analysis
14.20.2. Market Share Analysis, 2022
14.20.2.1. By Industry
14.21. GCC Countries
14.21.1. Pricing Analysis
14.21.2. Market Share Analysis, 2022
14.21.2.1. By Industry
14.22. South Africa
14.22.1. Pricing Analysis
14.22.2. Market Share Analysis, 2022
14.22.2.1. By Industry
14.23. Israel
14.23.1. Pricing Analysis
14.23.2. Market Share Analysis, 2022
14.23.2.1. By Industry
15. Market Structure Analysis
15.1. Competition Dashboard
15.2. Competition Benchmarking
15.3. Market Share Analysis of Top Players
15.3.1. By Regional
15.3.2. By Industry
16. Competition Analysis
16.1. Competition Deep Dive
16.1.1. Benchmark Electronics Inc.
16.1.1.1. Overview
16.1.1.2. Product Portfolio
16.1.1.3. Profitability by Market Segments
16.1.1.4. Sales Footprint
16.1.1.5. Strategy Overview
16.1.1.5.1. Marketing Strategy
16.1.2. Creation Technologies LP
16.1.2.1. Overview
16.1.2.2. Product Portfolio
16.1.2.3. Profitability by Market Segments
16.1.2.4. Sales Footprint
16.1.2.5. Strategy Overview
16.1.2.5.1. Marketing Strategy
16.1.3. Celestica Inc
16.1.3.1. Overview
16.1.3.2. Product Portfolio
16.1.3.3. Profitability by Market Segments
16.1.3.4. Sales Footprint
16.1.3.5. Strategy Overview
16.1.3.5.1. Marketing Strategy
16.1.4. Venture Corporation Limited
16.1.4.1. Overview
16.1.4.2. Product Portfolio
16.1.4.3. Profitability by Market Segments
16.1.4.4. Sales Footprint
16.1.4.5. Strategy Overview
16.1.4.5.1. Marketing Strategy
16.1.5. Sparqtron Corporation
16.1.5.1. Overview
16.1.5.2. Product Portfolio
16.1.5.3. Profitability by Market Segments
16.1.5.4. Sales Footprint
16.1.5.5. Strategy Overview
16.1.5.5.1. Marketing Strategy
16.1.6. NATEL ENGINEERING CO., INC.
16.1.6.1. Overview
16.1.6.2. Product Portfolio
16.1.6.3. Profitability by Market Segments
16.1.6.4. Sales Footprint
16.1.6.5. Strategy Overview
16.1.6.5.1. Marketing Strategy
16.1.7. API Technologies Corp
16.1.7.1. Overview
16.1.7.2. Product Portfolio
16.1.7.3. Profitability by Market Segments
16.1.7.4. Sales Footprint
16.1.7.5. Strategy Overview
16.1.7.5.1. Marketing Strategy
16.1.8. FLEX LTD
16.1.8.1. Overview
16.1.8.2. Product Portfolio
16.1.8.3. Profitability by Market Segments
16.1.8.4. Sales Footprint
16.1.8.5. Strategy Overview
16.1.8.5.1. Marketing Strategy
16.1.9. Foxconn Electronics Inc.
16.1.9.1. Overview
16.1.9.2. Product Portfolio
16.1.9.3. Profitability by Market Segments
16.1.9.4. Sales Footprint
16.1.9.5. Strategy Overview
16.1.9.5.1. Marketing Strategy
16.1.10. Integrated Micro-Electronics, Inc.
16.1.10.1. Overview
16.1.10.2. Product Portfolio
16.1.10.3. Profitability by Market Segments
16.1.10.4. Sales Footprint
16.1.10.5. Strategy Overview
16.1.10.5.1. Marketing Strategy
17. Assumptions & Acronyms Used
18. Research Methodology
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Electronic Manufacturing Services Market
