The global electronic manufacturing services market was valued at around USD 440 billion in 2016 and is expected to surpass USD 600 billion by 2021.
Procurement market intelligence analysts have announced its latest market research report on electronic manufacturing services for the period 2017-2021. This market analysis considers the major drivers and main developing trends that will influence the growth of the electronic manufacturing services market during the forecast period. Some of the top vendors listed in this industry analysis include Foxconn Electronics, Flex, Jabil Circuit, PEGATRON, and Sanmina.
In terms of geographical analysis, APAC is the largest shareholder in the global market, with a market share of around 67%. China emerging as the dominant hub for the electronics manufacturing of phones, computer devices, and TVs will fuel the growth of the APAC region.
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According to Angad Singh, a procurement specialist at Technavio for research on category spend intelligence, “The growing adoption of green electronics manufacturing will boost the demand in the global electronics manufacturing services market. These innovative manufacturing methods will provide additional cost-saving opportunities for suppliers, and the end-products will be relatively inexpensive for consumers due to low energy demand and usage. The EMS suppliers are developing eco-friendly manufacturing solutions that have minimum impact on the environment. Some of these initiatives include carbon capping and carbon trading plans that contribute to green manufacturing.”
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The new procurement market intelligence report analyzes some of the key drivers and trends responsible for the growth of this market and its sub-segments.
Transformation of operating model to integrate features of IoT
IOT is providing businesses across industries with opportunities to revamp their existing business models, alternate channels for delivering core products and adjacent services to end-customers, and meeting the needs of product personalization. The need for smoother processes and improved business application is encouraging EMS suppliers to split their manufacturing process by performing the product integration in production hubs closer to demand zones. These initiatives are driving the ease of customization and differentiated set of offerings that are centered around customer demand and help improve EMS suppliers’ long-term growth and profitability.
Industrial automation driving productivity and efficiency in electronics manufacturing
The advent of industrial automation is leading to the revolutionization of manufacturing and engineering processes. The organizations are using digital technologies to create smart manufacturing facilities and improve the productivity of the businesses. EMS suppliers are adopting industrial automation for maintaining the highest degree of accuracy in different production processes. Automating a certain amount of processes allows labor to focus on value-added activities that require innovative thinking and skill. The different industries that are using personalized products and services include defense, retail, manufacturing, and medical equipment.
Increase in outsourcing of manufacturing processes by OEMs
The OEMs are formulating specific, short-term strategy, or as a long-term forward-looking strategy by outsourcing their manufacturing processes to EMS suppliers. The increasing focus on core and value-added activities, overcoming capacity constraints, and controlling operating costs are factors driving outsourcing of EMS to third party vendors. EMS suppliers have the capability to offer OEMs greater flexibility, cost-effectiveness, and reduction in production cycle time and time to market.
A comprehensive analysis is available in the procurement market intelligence report titled, ‘Global Electronic Manufacturing Services Market – Procurement Market Intelligence Report 2017-2021.’
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