(EMS) Electronic Manufacturing Services Market Revenue & Regional Analysis | 2019-2024: Global Market Insights Inc. Accordingly to Global Market Insights research report Electronic Manufacturing Services Market is projected to surpass USD 650 billion by 2024. The industry is expected to witness a significant growth due to the growing need of manufacturers to reduce the Time-To-Market (TTM). Reducing TTM, particularly for new products, allows OEMs to reach the customers faster than their competitors, enhancing their share in the industry. For the new products, the reduced time-to-market allows OEMs to gain advantages such as premium pricing, driving the EMS market growth. Electronic Manufacturing Services market is gaining momentum due to an increasing focus on electronic OEMs to enhance the quality of products. The quality of products is the key factor that differentiates the offerings of the company in a highly competitive electronics industry. To ensure the quality, the vendors in the industry are undertaking several testing procedures such as X-ray inspection, in-circuit testing, Automated Optical Inspection (AOI), and shock test. Enhanced capabilities of players in the industry will propel the industry growth.
Electronic Manufacturing Services Market
1|Page
The margins in the business are low and the companies are highly sensitive to fluctuations in material prices and labor costs, restraining the electronic manufacturing services market growth. Furthermore, to achieve economy of scale, these companies are required to produce large volumes to satisfy customer needs. The strong competition among the players in the industry restrains the small players from procuring orders with large volumes. These factors are expected to hinder the industry growth over the forecast timespan. The electronic manufacturing services market is expected to grow significantly due to the rapidly-growing consumer electronics sector. In 2016, the consumer electronics industry was valued at USD 1,100 billion. Increasing adoption of smartphones is encouraging the manufacturers to opt for these services to meet the demand-supply gap. Also, technological advancements in consumer electronics such as speakers, smart homes, and other intelligent devices are rapidly increasing the demand for these devices. To enhance productivity, OEMs are outsourcing the electronics manufacturing, thus propelling the EMS market. The Asia Pacific electronic manufacturing services market is expected to grow rapidly in the next six years due to the presence of a large number of OEMs in the region. Low cost and the availability of raw materials and workforce bodes well for the industry in the region. The companies in the region provide services to OEMs in countries including Germany, the U.S., and France. The companies in the region are rapidly digitizing their businesses to achieve end-to-end integration of their operations. This is further encouraging the OEMs from North America and Europe to outsource their services to Asia Pacific, propelling the EMS market growth in the region. Browse key industry insights spread across 250 pages with 130 market data tables & 26 figures & charts from the report, “Electronics Manufacturing Services (EMS) Market Size By Product (Electronic Manufacturing, Engineering Services, Test & Development Implementation, Logistics Services, Others), By Application (Computer, Consumer Electronics, Aerospace & Defense, Medical & Healthcare, Automotive, Others) Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, China, India, Japan, South Korea, Brazil, Mexico, UAE, Saudi Arabia, South Africa), Growth Potential, Competitive Market Share & Forecast, 2018 - 2024� in detail along with the table of contents: http://bit.ly/2r1QWSz
2|Page
Key players in the electronic manufacturing services market include: Kimball International, Celestica, Inc., Integrated Microelectronics, Inc., Flex Ltd., Key Tronic EMS, Foxconn, Venture Corporation, Benchmark Electronics, Inc., Creation Technologies, API Technologies Corp., and Sanmina Corporation. The industry is characterized by strong competition among the players due to low entry barriers. The companies are undertaking strategies such as acquisition to gain industry share and expand their businesses. For instance, in October 2018, Celestica, Inc. acquired Impakt holdings, LLC, a specialized manufacturer that provides solutions to OEMs in semiconductor and OLED display industries. The acquisition allows Celestica to expand in the U.S. and South Korea. About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology. Contact Us:
Arun Hegde Corporate Sales, USA Global Market Insights, Inc. Phone: 1-302-846-7766 Toll Free: 1-888-689-0688 Email: sales@gminsights.com Web: https://www.gminsights.com Blog: http://groundalerts.com
3|Page