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The electronic manufacturing services (EMS) market is poised to hit USD 1 trillion by 2032 driven by the surging penetration of smart devices and smartphones, production shift to APAC countries along with notable opportunities in medical device manufacturing in Europe and North America.
Overview
According to a study by Global Market Insights Inc., the ** electronic manufacturing services (EMS) market ** is estimated to exceed USD 1 trillion in revenue by 2032. The surging penetration of smart devices and smartphones, production shift to APAC countries, and notable opportunities in medical device manufacturing in Europe and North America are among the key growth factors.
Electronic manufacturing services are provided by companies that offer contract-based production services to original equipment manufacturers (OEMs) for manufacturing processes, such as product development, printed circuit board assembly (PCBA), final assembly, and testing of electronic components and devices. With the burgeoning demand for smartphones, wearable technology, and other electronic devices, the need for EMS has grown rapidly. For instance, in December 2022, Apple, a smart technology firm, inked a USD 260 million deal with Compal Electronics, Inc., a Taiwanese ODA company, to lease 40 hectares of land in Thai Binh province to build a new factory for expanding its iPad and Apple Watch production.
** Electronic Manufacturing Services Market Report Coverage -**
| Required Fields | Format |
|---|---|
| Market Size in 2022 | USD 500 billion |
| Value Projection by 2032 | USD 1 Trillion |
| **Compound Annual Growth Rate (CAGR) ** | 5% |
| Electronic manufacturing segment by 2032 | USD 600 billion |
| PCB assembly segment in 2022 | USD 300 billion |
| Medical & healthcare segment in 2022 | 5% Market Share |
| Consumer Electronics size in 2032 | USD 1.5 Billion |
| Asia Pacific Market in 2022 | 40% Market Share |
| No. Of Tables | 299 |
| Figures & Charts | 38 |
| No. Of Report Pages | 140 |
| Countries covered in the report | U.S., Canada, UK, Germany, France, Italy, Spain, Russia, Austria, Switzerland, Poland, Slovakia, Czech Republic, Norway, Finland, Sweden, Denmark, Benelux, China, Japan, India, Taiwan, Australia, Indonesia, Vietnam, Cambodia, Brazil, Mexico, South Africa, Saudi Arabia, UAE. |
| Segments covered | Service, Application and Region |
| Companies covered in the report | Advanced Semiconductor Engineering Inc., All Shore Industries, Inc, Benchmark Electronics, Inc., Celestica, Inc., Compal Electronics, Inc., East West Manufacturing (Compass Electronics Group, LLC.), Fabrinet, Foxconn (Hon Hai Precision Industry Co., Ltd.), Integrated Microelectronics, Inventec Corporation, Jabil Inc., KeyTronic, Kimball Electronics, Inc., Plexus Corporation, Quanta Computer, Sanmina Corporation, SIIX Corporation, Sparton Corporation, TJM Electronics, TPV Technology Limited, TT Electronics Plc, VIRTEX (Altron, Inc), Wistron Corporation. |
**Mentioned below are some of the major trends propelling the EMS market expansion: **
Breakthroughs in manufacturing technologies
Ongoing advancements in engineering technologies, including automation, robotics, and 3D printing, are improving the efficiency and cost-effectiveness of the EMS business, which, in turn, is fostering the electronic manufacturing services market outlook. The advent of 5G technology has significantly altered the way EMS companies produce, design, and assemble electronic devices. In January 2022, Wistron Corporation, a smart devices manufacturer, announced the implementation of Ansys’s simulation software to automate its 5G cellular antenna power density analysis and optimize signal coverage.
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Moreover, innovations in 3D printing solutions by electronic manufacturers are also impelling service uptake as it reduces the time of manufacturing and saves operational costs. To cite an instance, in April 2022, Foxconn partnered with Spanish start-up Triditive, to create a new metal binder jetting 3D technology for mass-producing parts of metal and polymers.
Growing focus on sustainability
Many companies are looking for ways to reduce their environmental impact and are turning to EMS providers to help them achieve their sustainability goals through responsible manufacturing practices. Thus, market players are emphasizing the introduction of eco-friendly substances and materials to attain a unique position in contract manufacturing, which is foreseen to supplement industry expansion through 2032. In May 2022, Jabil, Inc., an American EMS firm, launched PK 5000, an eco-friendly, powder-based additive material engineered to offer improved strength, chemical resistance, and resilience in contrast to general-purpose nylon substances such as PA 12.
Rising popularity of e-commerce and electric vehicles
Another trend that is anticipated to positively impact the electronic manufacturing services market is the boom of the e-commerce sector, which is slated to fuel the demand for electronic gadgets viz., wearable technologies and smart home devices, as more consumers switch to e-shopping. As a result, electronic manufacturers are likely to outsource designing and NPI processes that cater to changing consumer needs. In March 2022, Reliance Strategic Business Ventures Limited, a subsidiary of Reliance Industries, partnered with Sanmina Corporation, a U.S.-based integrated manufacturing solutions provider, to establish an electronic manufacturing hub in India.
The recent upsurge in the demand for electric vehicles on account of a positive inclination toward carbon-neutral automobiles is also bolstering the need for EMS. With increased fuel prices and environmental concerns, EVs have gained an optimistic response in the last decade. The total sales of EVs surpassed 10.3 million in 2022 compared to 6.5 million in 2021 and are projected to reach 13.6 million by the end of 2023. To that effect, automotive manufacturers are partnering with EMS firms to boost production, supporting overall market growth. In January 2023, Hon Hai Technology Group, announced a strategic alliance with NVIDIA, a software firm, to develop automated and autonomous electric vehicles.
Compal Electronics, Inc., Fabrinet, Jabil, Inc., Wistron Corporation, Sanmina Corporation, Sparton Corporation, Foxconn (Hon Hai Precision Industry Co., Ltd.), Keytronic, and Inventec are some of the major EMS market players. These firms are engaging in several alliances and contract manufacturing deals to stay ahead in the competitive landscape. Lastly, the globalization of the electronics industry and the requirement for minimal investments in production lines and skilled professionals is set to augment EMS demand.
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.
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You get access to the electronic manufacturing services market research report. It covers market sizing, forecasts through 2034, segmentation by product and application, regional breakdowns, competitive analysis, and industry trends. The report is delivered in PDF and Excel formats along with a structured dataset.
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The report segments the market by product, such as PCB assembly, engineering services, testing, and logistics. It also breaks down applications like consumer electronics, automotive, and semiconductor manufacturing. Regional data spans North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa, with country-level detail.
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