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The report published in WGR on the global electronics manufacturing services (EMS) market revealed the growth of the market to be at a notable pace. The valuation of the electronics manufacturing services (EMS) market was further stated to surpass its previous valuation.
Rapid-paced advancements in technologies, increasing price pressure in the market, and diversified portfolios are forcing OEMs to outsource their manufacturing as well as assembling needs and requirements to the EMS providers. The shift was reported to be due to the increasing focus of OEMs towards innovation in terms of product offerings and marketing strategies to gain a competitive edge in the market. OEMs are increasingly realizing that outsourcing can help them use the latest designing trends and leverage proficient engineering capabilities at a significantly lower cost without having to hamper the quality side of the things. Hence, increasing outsourcing trend by OEMs is anticipated to boost the global electronics manufacturing services (EMS) market in the coming years.
Additionally, the increasing usage of blockchain technology is reported to be one of the key market trends that is influencing the growth to tilt towards a far more positive direction. EMS providers have begun adopting this disruptive technology to track the entire purchase order, payment process, invoices, and soon.
The global electronics manufacturing services (EMS) market comprises a host of key players. This includes names like Flextronics, Hon Hai/Foxconn, FIH Mobile, Pegatron, Jabil, Zollner Elektronik, Venture, Universal Scientific Industrial, Plexus, Kinpo, Benchmark Electronics, Kaifa, SIIX, Celestica, Sanmina, and others.
The global electronics manufacturing services (EMS) market has been segmented in terms of product and applications.
By product, the market segments into test development & implementation, electronic manufacturing, logistics services, engineering services, and others. The test development & implementation market segment is gaining increasing popularity and moving at a noteworthy pace. The growth of this service segment is due to the increasing quality as well as safety guidelines that are being applied to product manufacturing.
By application, the market comprises consumer, computer, communication, industrial, and others.
The global electronics manufacturing services (EMS) market is geographically distributed across the following key regions: Japan, Taiwan, Asia Pacific, Southeast Asia, United States of America, Europe, and China.
The Asia Pacific market for EMS is enjoying notable growth and is expected to continue doing so in the coming years. This is due to the heightening demand and production rate of consumer electronic devices and various other electronic components in countries like Japan, Taiwan, and China. The companies present in this region primarily provide outsourcing services regions like the US and parts of Western Europe due to the high demand and minimal labor wages herein. Add to this, various favorable government initiatives being integrated towards infrastructure and technical development of the manufacturing industry is also driving the growth in this region.
Elsewhere, the US market for EMS is another lucrative are, majorly due to the burgeoning demand for consumer electronics, automotive, and computer products in the nation. Herein, the high spending capacity of the consumers and increasing awareness concerning the usage of technically-advanced and sound quality products are pushing the market consumption rate.