PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1299742
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1299742
EMS Market size was valued at USD 470,941.3 Million in 2022, expanding at a CAGR of 6.3% from 2023 to 2030.
Electronic Manufacturing Services (EMS) is the term that is used to describe companies that manufacture, test, distribute, design, and offer repair/return services for electronic components, assemblies for original equipment manufacturers (OEMs), and printed circuit board (PCB) assemblies. Additionally, EMS companies commonly work with clients who need a large quantity of electronic products such as automotive, medical, consumer electronics, and aerospace industries.
Factors that allow manufacturers to capitalize on current trends include modernizing technological advancements and rising demand for consumer electronics. Additionally, medium-tier companies growing competition has led key manufacturers to enhance their production capacity by endorsing various technological changes including the Internet of Things (IoT), augmented reality, and 3D printing. This in turn projected to drive the EMS market growth. However, the violation of intellectual property rights, etc. is a restraining factor that may hamper the market growth over the forecast period.
Moreover, the development of green End-Use to create positive environmental impacts offers a lucrative opportunity for the electronic manufacturing services market. The COVID-19 pandemic has adversely impacted the demand for electronic manufacturing services. The restriction imposed by the government has severely affected the electronics industry supply chain globally, under the observation of fixed cost, and limited End-Use moment & worksite coordination.
The global EMS market is segmented on the basis of Service, application, end-use, and region.
The market is divided into four categories based on Service: electronic manufacturing, electronics assembly, electronic design & engineering, supply chain management, and others. The electronic manufacturing sector is likely to possess market share. It includes microelectronics devices, optoelectronics services, and wireless devices & radio frequency for current smart home trends.
The market is divided into two categories based on application: small & medium enterprises and large enterprises. The large enterprises' sector is expected to hold the largest market share. EMS companies prefer to work with clients who require products in large quantities including medical, aerospace industries, and automotive.
The market is divided into eight categories based on end-use: automotive, aerospace & defense, commercial aviation, computer, communication, consumer electronics, industrial, medical & healthcare, and others. Communication is likely to maintain its dominance. The communication electronic segment is being driven due to the increasing use of wearable & networking technologies and improved cell phone penetration.
To focus on core competencies market players are increasingly outsourcing their electronics manufacturing operations to EMS providers. Additionally, rising development & research, continuous innovation, improved product quality, improve supply chain system, and high-performance services & products are major drivers of the EMS market. Moreover, key players are focusing to adopt strategies to enhance their market share including mergers & acquisitions, collaborations, partnerships, new product launches, and R&D spending. For instance, in October 2022, a company Rockwell Automation, INC. (NYSE: ROK), a leading company dedicated to digital transformation and industrial automation, announced to acquisition of CUBIC, a company that specializes in modular systems for the construction of electrical panels.
This proposed research study on EMS market provides market size (US$ million), compound annual growth rate (CAGR %) and forecast estimation (2023-2030), considering 2022 as the base year.
The research report elucidates potential growth opportunities across different segments/countries and explains attractive investment proposition matrix for EMS market
The overall report identifies new investment opportunities, challenges faced by established players, and growth factors to sustain in the EMS market.
Impact of COVID-19 on EMS market size, forecast, CAGR, and market dynamics are discussed in detail under the research scope. Detailed insight on EMS market post-COVID will also be covered.
In order to give the users of this report a comprehensive view on the EMS market, we have also included competitive landscape and key innovator analysis for the EMS market.
The study encompasses a growth prospect mapping analysis, wherein all the industry segments are benchmarked based on their market size, growth rate and attractiveness.
The report offersdetailed company profiling featuring major market participantswhich will help users to understand their financial information and strategic initiatives of players operating in the EMS market.
In addition, the report also unveil the important acquisitions & mergers, collaborations & joint ventures, new launch, research & development, regional expansion of major participants involved in the market on global as well as regional level.
The global EMS market report primarily caters to various stakeholders in this industry including suppliers, investors, new entrants, distributors, and financial analysts.
The scope of this report covers the market by its major segments, which include as follows: