The electronics manufacturing services market is projected to record a lucrative rate of growth over the forecast timespan, with the advancement of emerging technologies like IoT and AI, which is fostering investments towards industrial automation. The addition of industrial robots for the purpose of smart manufacturing effectively increases operational performance while also limiting the level of human intervention thereby achieving cost-effectiveness, which would complement industry outlook.
With the advent of new technologies and innovations, various new trends are being introduced that are likely to drive the proliferation of EMS across different industrial sectors. With many industries embracing automation, the demand for smart devices is likely to go up tremendously and promote growth of the market landscape. The rise in smart devices enhances efficiency by decreasing human error as well as the time required for moving the product from design to final production. Moreover, improved analytics is further enabling EMS companies to develop smart solutions and also fine-tuning their respective processes with real-time data.
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Rapid digitalization of medical devices and surgical equipment could propel the demand for EMS in medical & healthcare sector. Estimates suggest the application segment might register a compound annual growth rate of more than 4% within the predicted timeframe. EMS solutions would help medical institutions to deliver secure and safer treatment options.
Shifting trends toward developing real-time monitoring devices and solutions in the healthcare sector could drive the sales of efficient PCB assembly products. Prominent companies like Philips Healthcare, Johnson & Johnson Medical Devices Companies, Fresenius Medical Care, and GE Healthcare are working on forming strategic relations with EMS providers to develop cost-effective healthcare devices. For instance, back in August 2018, Johnson & Johnson’s Medical Device Division joined forces with Jabil to manufacture invasive surgical and orthopaedical devices.
Companies operating in the electronics manufacturing services market are emphasizing on strategic collaboration and acquisition deals to expand their production capabilities and consumer base. Taking July 2020 for instance. Amara Raja Group announced that it has partnered with Blaze Automation to build a joint venture dubbed, Amara Raja Blaze Technologies Pvt. Ltd. (ARBT) to manufacture and develop IoT devices for global markets.
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North America electronics manufacturing services market accounted for over 20% market share and is estimated to record a growth rate of over 6% by the end of the forecast timeline. The regional growth is mainly ascribed to the growing consumers inclination towards the adoption for portable diagnostic systems like Fitbit. The rising preference toward incorporation of smart sensors into diagnostic systems has further driven the demand for EMS in the region.
The competitive landscape of electronics manufacturing services market includes Sanmina Corporation, Foxconn Electronics, Inc., ASE Group, Compal Electronics, Inc., Jabil, Inc., and Benchmark Electronics, Inc. among many others.
Major Key Points from Table of Content:
Chapter 5. Electronics Manufacturing Services Market, By Service
5.1. Key trends, by service
5.2. Electronics manufacturing services
5.2.1. Electronics manufacturing services market estimates and forecast, 2015 - 2026
5.2.2. Engineering services
184.108.40.206. Market estimates and forecast, 2015 - 2026
5.2.3. Test & development implementation
220.127.116.11. Market estimates and forecast, 2015 - 2026
5.2.4. Logistics services
18.104.22.168. Market estimates and forecast, 2015 - 2026
22.214.171.124. Market estimates and forecast, 2015 - 2026
Chapter 6. Electronics Manufacturing Services Market, By Application
6.1. Key trends, by application
6.2.1. Market estimates and forecast, 2015 - 2026
6.3. Consumer Electronics
6.3.1. Market estimates and forecast, 2015 - 2026
6.4. Aerospace & Defense
6.4.1. Market estimates and forecast, 2015 - 2026
6.5. Medical & Healthcare
6.5.1. Market estimates and forecast, 2015 - 2026
6.6.1. Market estimates and forecast, 2015 - 2026
6.7.1. Market estimates and forecast, 2015 - 2026
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