DUBLIN--(BUSINESS WIRE)--The "Electronic Manufacturing Services Market - Forecasts from 2021 to 2026" report has been added to ResearchAndMarkets.com's offering.
The electronic manufacturing services market is projected to witness a compound annual growth rate of 11.94% to grow to US$364.215 billion by 2026, from US$165.354 billion in 2019.
Companies Mentioned
- Benchmark Electronics
- Flex Ltd.
- Plexus Corp
- Jabil Inc.
- Celestica Inc.
- Compal Inc.
- Creation Technologies
- Foxconn Electronics Inc.
- Sanmina Corporation
- Venture Corporation Limited
- Jabil Inc.
The market is expected to surge in the coming years due to the rise in the number of electric vehicles, cost reduction in the manufacturing process, and increasing investments in R&D. With the increasing innovation and advancement of emerging technologies, such as 5G and the IoT, electronic component manufacturing and designing had been revolutionized. There has been a surge in the demand for electronics manufacturing services in the consumer electronics industry, because of its growing connectivity among its products, like gaming, audio, wearable, and virtual reality. The increasing investments in the semiconductor industry are expected to play a major role in the overall market growth.
According to the semiconductor industry association, the total sales of semiconductors was US$439 billion in the year 2020, with a rise of 6.5%, from the previous year. There have been a plethora of novel initiatives and developments in the market, in the past few years. For instance, in June 2021, Microart Services, a key electronic manufacturing services provider, announced that it had joined forces with an engineering firm, Berlin KraftWorks Inc., intending to bridge the gap between ideation and total volume commercial production. This development is expected to have a positive impact on the market in the coming years. In June 2021, PG Electroplast, one of the key players in the electronic manufacturing services market, announced that it had approved an investment worth INR766 million, and would use the investment to enhance India's manufacturing capabilities.
COVID-19 Impact on electronic manufacturing services market.
The global outbreak of the COVID-19 pandemic resulted in bringing several key industries to a standstill and leaving the others with a severe negative impact during the period. Electronics and the electronics manufacturing industry was one of them. Further, the impact resulted in the delay of the introduction of several new products for many months to come. The key impact was the disruptions of the supply chain caused due to strict lockdowns and curfews imposed by the governments in order to curb the widespread of the disease during the period.
Rising sales of electric vehicles.
The market is expected to surge in the coming years, due to the rise in the sales and number of electric vehicles, worldwide. The electrification of the automobile has been one of the most disruptive and innovative changes in the automobile sector, globally. In the transition towards complete electrification, auto producers and manufacturers have been matching the pace in innovation and advances in component and technical capabilities. This has given the rise in the demand for advancement in electronic manufacturing services (EMS) in electronic component manufacturing and process, developing electronics in the automotive industry more reliable, cost-efficient, and smaller.
Good growth opportunities in the United States.
The United States electronic manufacturing services market is set to expand throughout the forecast period to attain a notable market size by the end of the forecast period. The prime factor for growth in the region is the presence of major market players in the country like Benchmark Electronics, Flex Ltd., Plexus Corp, Jabil Inc., and Celestica Inc. The increasing demand for electronics in the country is further facilitating the growth of the market. Moreover, increasing services provided by the key market players are propelling the wide adoption of contractual services by OEMs to increase their focus on the core operations and further invest in improving their productivity.
Key Topics Covered:
1. INTRODUCTION
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1. Market Drivers
4.2. Market Restraints
4.3. Porter's Five Force Analysis
4.4. Industry Value Chain Analysis
5. ELECTRONIC MANUFACTURING SERVICES MARKET BY SERVICES
5.1. Introduction
5.2. Design & Engineering
5.3. Manufacturing
5.4. Assembly
5.5. Testing
5.6. Others
6. ELECTRONIC MANUFACTURING SERVICES MARKET BY INDUSTRY VERTICAL
6.1. Introduction
6.2. Healthcare
6.3. Aerospace & Defense
6.4. Automotive
6.5. Telecom & IT
6.6. Consumer Electronics
6.7. Others
7. ELECTRONIC MANUFACTURING SERVICES MARKET BY GEOGRAPHY
8. COMPETITIVE ENVIRONMENT AND ANALYSIS
8.1. Major Players and Strategy Analysis
8.2. Emerging Players and Market Lucrativeness
8.3. Mergers, Acquisitions, Agreements, and Collaborations
8.4. Vendor Competitiveness Matrix
9. COMPANY PROFILES
For more information about this report visit https://www.researchandmarkets.com/r/755pus
