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Global Electronics Manufacturing Services (EMS) Market size was valued at USD 476.88 billion in 2021 and is poised to grow from USD 504.22 billion in 2022 to USD 797.94 billion by 2030, growing at a CAGR of 6.8% in the forecast period (2023-2030).

Due to the rising use of these services across industries and the existence of several market players internationally, the electronics manufacturing services market is starting to fragment. Product innovations and advances are seen by industry participants as a lucrative route to market growth. 'Foxconn Technology Group', 'Pegatron Corporation', 'Flex Ltd.', 'Jabil Inc.', 'Quanta Computer Inc.', 'New Kinpo Group', 'Sanmina Corporation', 'Wistron Corporation', 'Celestica Inc.', 'Benchmark Electronics Inc.', 'Plexus Corp.', 'Universal Scientific Industrial Co., Ltd. (USI)', 'Inventec Corporation', 'Zollner Elektronik AG', 'Venture Corporation Limited', 'FIH Mobile Limited', 'SMTC Corporation', 'Elcoteq SE', 'VTech Holdings Limited', 'Beyonics Technology Limited'

The key driving factors behind the global market for electric manufacturing services are rising functionalities, including Engineering, component assembly, and design of premium circuit boards, functional testing provided by contract manufacturers, and sub-assembly production    Additionally, engineering and manufacturing outsourcing services that offer a wide range of core production skills are provided through electronic contract manufacturing procedures. Moreover, outsourcing auxiliary tasks enables OEMs to concentrate on their core capabilities, which supports them in increasing operational effectiveness, lowering production costs, and needing less fixed capital investment.

The market is expanding as a result of the rising public awareness of e-waste recycling. Global e-waste volume increased by almost 21% in 2019, according to the UN's Global E-waste Monitor 2020, which was published in July 2020. Additionally, it is anticipated that by 2030, there will be 74 Mt of wasted electronic garbage worldwide, nearly doubling in just 16 years. Government agencies and OEMs have created a number of e-waste recycling policies and programs as a result of this. For instance, Singapore's national electronic and electrical waste (e-waste) management system began operations in July 2021. Customers are finding it difficult to recycle their e-waste as a result. This system serves as a circular economy strategy for achieving zero waste as a country.

During the projection period, the Asia-Pacific area is anticipated to increase rapidly. Government policies that assist medical device production across Asia Pacific economies, including India, China, and South Korea, are credited with advancing the industry. Due to its dominance in the production of consumer electronics, semiconductors, and other telecommunications equipment and gadgets, China is one of the key EMS markets in the world.

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Global Electronics Manufacturing Services (EMS) Market

Product ID: SQSG45L2002