According to a new report, published by KBV research, The Global Electronic Manufacturing Services (EMS) Market size is expected to reach $796.3 billion by 2030, rising at a market growth of 7.1% CAGR during the forecast period.
The global landscape of these services has undergone a profound transformation, evolving into a dynamic and integral component of the electronics industry. Electronic management system (EMS) providers are of utmost importance in designing, producing, testing, and managing electronic devices and components. The services rendered by the organization are tailored to suit the requirements of original equipment manufacturers (OEMs).
Additionally, electronic manufacturing services (EMS) have become indispensable in various industries, providing crucial support in designing, manufacturing, testing, and distributing electronic components and devices. The versatility of EMS is reflected in its applications across a wide array of industries, each with unique requirements and challenges. This section explores some major applications of EMS across industries, highlighting the pivotal role EMS providers play in shaping technological advancements.
Moreover, the automotive industry is a key beneficiary of EMS services, relying on these providers to produce advanced electronic components and systems. EMS is vital in manufacturing electronic control units (ECUs), sensors, infotainment systems, and safety features. As vehicles become more connected and autonomous, the demand for sophisticated electronic components in areas like advanced driver assistance systems and electric vehicle components has surged. EMS providers collaborate with automotive OEMs to ensure the reliability and performance of these electronics, contributing to the overall innovation in the automotive sector.
The Electronics Manufacturing segment led the Global Electronic Manufacturing Services (EMS) Market by Service in 2022; thereby, achieving a market value of $350.8 billion by 2030. The growing complexity of electronic products, such as IoT devices, wearables, and smart appliances, has led to a greater demand for specialized engineering services. EMS providers offering comprehensive engineering solutions become crucial for companies looking to design and manufacture advanced electronic products. As a result, the segment will grow rapidly in the coming years.
The Consumer Electronics segment is growing at a CAGR of 6.2 % during the forecast period. Consumer electronics is a sector known for its constant innovation, with manufacturers frequently introducing new and advanced products to meet evolving consumer needs. EMS providers play a crucial role in rapidly prototyping, designing, and manufacturing these innovative electronic devices, ranging from smartphones and tablets to wearables and smart home devices. Thus, the segment will witness enhanced growth in the coming years.
Full Report: https://www.kbvresearch.com/electronic-manufacturing-services-market/
The Asia Pacific region dominated the Global Electronic Manufacturing Services (EMS) Market by Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $306.9 Billion by 2030. The Europe region is anticipated to grow at a CAGR of 6.7% during (2023 - 2030). Additionally, The North America region would witness a CAGR of 6.9% during (2023 - 2030).
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