Electronic Manufacturing Services Market 2019 Outlook | Recent Market Developments to 2024

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Global EMS Market Latest trends 2019 Recent
Industry Analysis to 2024 Global Market Insights
Inc.
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Industry Overview

• Accordingly to Global Market Insights research
  report Electronic Manufacturing Services Market
  is projected to surpass USD 650 billion by 2024.
  The industry is expected to witness a significant
  growth due to the growing need of manufacturers
  to reduce the Time-To-Market (TTM). Reducing TTM,
  particularly for new products, allows OEMs to
  reach the customers faster than their
  competitors, enhancing their share in the
  industry. For the new products, the reduced
  time-to-market allows OEMs to gain advantages
  such as premium pricing, driving the EMS market
  growth.
• Electronic Manufacturing Services market is
  gaining momentum due to an increasing focus on
  electronic OEMs to enhance the quality of
  products. The quality of products is the key
  factor that differentiates the offerings of the
  company in a highly competitive electronics
  industry. To ensure the quality, the vendors in
  the industry are undertaking several testing
  procedures such as X-ray inspection, in-circuit
  testing, Automated Optical Inspection (AOI), and
  shock test. Enhanced capabilities of players in
  the industry will propel the industry growth.
• The margins in the business are low and the
  companies are highly sensitive to fluctuations in
  material prices and labor costs, restraining the
  electronic manufacturing services market growth.
  Furthermore, to achieve economy of scale, these
  companies are required to produce large volumes
  to satisfy customer needs.

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• The electronic manufacturing services market is
  expected to grow significantly due to the
  rapidly-growing consumer electronics sector. In
  2016, the consumer electronics industry was
  valued at USD 1,100 billion. Increasing adoption
  of smartphones is encouraging the manufacturers
  to opt for these services to meet the
  demand-supply gap. Also, technological
  advancements in consumer electronics such as
  speakers, smart homes, and other intelligent
  devices are rapidly increasing the demand for
  these devices. To enhance productivity, OEMs are
  outsourcing the electronics manufacturing, thus
  propelling the EMS market.
• The Asia Pacific electronic manufacturing
  services market is expected to grow rapidly in
  the next six years due to the presence of a large
  number of OEMs in the region. Low cost and the
  availability of raw materials and workforce bodes
  well for the industry in the region. The
  companies in the region provide services to OEMs
  in countries including Germany, the U.S., and
  France. The companies in the region are rapidly
  digitizing their businesses to achieve end-to-end
  integration of their operations. This is further
  encouraging the OEMs from North America and
  Europe to outsource their services to Asia
  Pacific, propelling the EMS market growth in the
  region.

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Growth Drivers

• Growing need to shorten the time to market
• Increasing demand for consumer electronics
• Shift of electronic companies from traditional
  products to niche product manufacturing
• Growing penetration of smartphones and smart
  devices
• Growing trend of outsourcing by OEMs to enhance
  productivity
• Growing opportunities in medical device
  manufacturing in North America and Europe
• Increasing demand for connected technology in
  Europe
• Growing trend of industrial automation in India
  and China
• Production shift to countries in Asia Pacific
  with low labor cost

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• Key players in the electronic manufacturing
  services market include Kimball International,
  Celestica, Inc., Integrated Microelectronics,
  Inc., Flex Ltd., Key Tronic EMS, Foxconn, Venture
  Corporation, Benchmark Electronics, Inc.,
  Creation Technologies, API Technologies Corp.,
  and Sanmina Corporation. The industry is
  characterized by strong competition among the
  players due to low entry barriers. The companies
  are undertaking strategies such as acquisition to
  gain industry share and expand their businesses.
  For instance, in October 2018, Celestica, Inc.
  acquired Impakt holdings, LLC, a specialized
  manufacturer that provides solutions to OEMs in
  semiconductor and OLED display industries. The
  acquisition allows Celestica to expand in the
  U.S. and South Korea.

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