Electronic Manufacturing Services Market to Hit USD 895.90 Billion by 2032, Driven by Rapid Growth in Automotive and Consumer Electronics Sectors | S&S Insider

The industry’s shift towards electrification and digitalization necessitates that EMS companies deliver high-reliability components that adhere to stringent quality and safety standards throughout the EMS supply chain.

Austin, Oct. 28, 2024 (GLOBE NEWSWIRE) — Market Size & Growth Analysis:

As per the S&S Insider Report,“The Electronic Manufacturing Services (EMS) Market was valued at USD 553.51 Billion in 2023 and is expected to reach USD 895.90 Billion by 2032, growing at a CAGR of 5.55% over the forecast period 2024-2032.”

The electronic manufacturing services (EMS) market has experienced robust growth in recent years, primarily due to the escalating demand for electronics manufacturing across various sectors, including heavy industrial manufacturing, automotive electronics, healthcare devices, consumer electronics, and industrial automation. Among these, the automotive sector stands out as a major application area. the automotive industry is highlighted as a significant field of application. In 2024, over 40 million electric vehicles (EVs) are currently being driven globally, a substantial rise from less than 200,000 in 2012. This increase includes both battery electric vehicles (BEVs) and plug-in hybrid electric vehicles (PHEVs), showing notable expansion in the past ten years. In 2010, the number of electric vehicles was only 17,368, while in 2023 it has increased to 40.8 million. With the automotive industry’s focus turning towards electrification, autonomous driving technologies, and connected car systems, there has been a significant increase in the need for specialized electronic components. EMS providers play a crucial role in producing the various electronic components needed for modern automobiles, such as ECUs, battery management systems, sensors, and in-vehicle infotainment systems. This change requires components in the EMS supply chain to meet strict quality and safety standards with high reliability.

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Dominant Market Players with their Products Listed in this Report are:

• Foxconn Technology Group (iPhone Assemblies, Motherboards)
• Jabil Inc. (Medical Devices, Automotive Electronics)
• Flex Ltd. (Consumer Electronics, Industrial Automation Solutions)
• Celestica Inc. (Heavy Industrial Manufacturings Equipment, Aerospace Components)
• Sanmina Corporation (High-Performance Computing, Defense Electronics)
• Benchmark Electronics (Industrial Control Systems, Networking Products)
• Korea’s Samsung Electronics (Smartphones, Semiconductor Products)
• Plexus Corp. (Healthcare Devices, Heavy Industrial Manufacturings Equipment)
• Nexstar Broadcasting Group (Broadcast Equipment, Video Transmission Solutions)
• Venture Corporation Limited (Medical Technology, Automotive Electronics)
• MiTAC Holdings Corporation (PCs, Cloud Computing Solutions)
• SIIX Corporation (Electronic Components, Automotive Electronics)
• Envision AESC (Battery Modules, Energy Storage Solutions)
• TTM Technologies (Printed Circuit Boards, RF Components)
• Zollner Elektronik AG (Medical Devices, Industry 4.0 Solutions)
• Wistron Corporation (Laptops, Servers)
• Viasystems Group (Printed Circuit Boards, Electronic Assemblies)
• Lite-On Technology Corporation (LED Products, Power Supplies)
• Cypress Semiconductor Corporation (Microcontrollers, Memory Chips)
• AT&S (Austria Technologie & Systemtechnik AG) (Printed Circuit Boards, IC Substrates)

Segment Analysis

By Service: The Electronics Manufacturing Services segment held a dominant position in the market with 38% market share in 2023, due to the growing demand for outsourced manufacturing solutions. The growth in this sector has been fueled by an increased need for tailor-made solutions, quick production times, and cost savings. With the advancement of technology and changing consumer preferences towards more advanced electronics, EMS providers are upgrading their capabilities with advanced manufacturing technologies like automation and AI to cater to the changing requirements of industries such as consumer electronics, automotive, and healthcare.

By Industry: The consumer electronics industry dominated the EMS market in 2023 with a 32% market share, driven by the high demand for innovative electronic devices. Due to fast technological advancements and growing consumer demand for smarter, more connected devices, EMS providers are concentrating on providing high-quality manufacturing solutions that can adapt to the rapidly changing environment. There has been substantial growth in this industry, especially with the increase in smart home devices, wearables, and other personal electronics. Businesses are more and more teaming up with EMS providers to utilize their skills in design and production, guaranteeing that products are both affordable and up to consumer standards.

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Key Market Segments:

By Service

• Electronics Manufacturing Services
• Engineering Services
• Test & Development Implementation
• Logistics Services
• Others

By Industry

• Consumer Electronics
• Automotive
• Heavy Industrial Manufacturing
• Aerospace and Defense
• Healthcare
• IT and Telecom
• Others

“Regional Dynamics and Growth Trends in the Global Market: A Comprehensive Analysis”

In 2023, APAC had the largest market share of 35.37% because of its strong manufacturing facilities, affordable labor, and advanced technology accessibility. Countries like China, Japan, and South Korea are essential in this dominance, providing large manufacturing capacities and strong supply chain connections. Global EMS providers prefer APAC because of its large number of semiconductor and electronics manufacturing centers.

Europe is anticipated to become the fastest-growing region between 2024 to 2032, due to the rising need for sophisticated electronics in industries such as automotive, aerospace, and industrial automation. The region is investing heavily in sustainable production methods and cutting-edge manufacturing technologies such as Industry 4.0, creating opportunities for EMS providers. Germany, France, and the UK lead in automotive electronics by prioritizing electric vehicles and renewable energy within the region.

Recent Developments:

Date	Development/Product Launch
Aug-24	Zetwerk Manufacturing Businesses, a contract manufacturing marketplace, has joined forces with SMILE Electronics, an electronics manufacturing services (EMS) company, to establish three factories in India for producing IT hardware.
Feb-24	NEOTech, a top EMS provider, will soon open a cutting-edge NPI and electronics manufacturing center at its Fremont, CA location, catering to high-tech industrial, medical device, and aerospace/defense markets.
Sep-24	Valeo, a mobility technology company, revealed on Friday that they are expanding their capabilities by opening a new facility in Pune for manufacturing power electronics products.

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Future Trends:

• Increased Automation: The adoption of advanced robotics and automation technologies will streamline manufacturing processes, reducing costs and improving efficiency.
• Sustainability Focus: EMS providers will increasingly prioritize sustainable practices, including recycling, energy efficiency, and eco-friendly materials in their manufacturing processes.
• Digital Transformation: The integration of IoT, AI, and data analytics will enable EMS companies to optimize operations and enhance product quality, allowing for predictive maintenance and real-time monitoring.
• Reshoring Initiatives: Companies may increasingly shift manufacturing operations closer to end markets to enhance supply chain resilience, particularly in North America and Europe.
• Customization and Flexibility: As consumer preferences evolve, EMS providers will focus on delivering tailored solutions that meet specific industry requirements, enabling quicker responses to market changes.

Table of Contents – Key Points Analysis

1. Introduction

2. Executive Summary

3. Research Methodology

4. Market Dynamics Impact Analysis

5. Statistical Insights and Trends Reporting

5.1 R&D Expenditure (2023)

5.2 Quality Control Metrics, by Region

5.3 Technological Adoption Rates, by Region

5.4 Supply Chain Metrics

6.  Competitive Landscape

7. Electronic Manufacturing Services Market Segmentation, by Service

8. Electronic Manufacturing Services Market Segmentation, by Industry

9. Regional Analysis

10. Company Profiles

11. Use Cases and Best Practices

12. Conclusion

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