Global Electronics Manufacturing Services Market to Surpass USD 945.67 Billion by 2031 | CAGR of 7.3%
Category : Semiconductor And Electronics | Published Date : Nov 2024 | Type : Press Release
Electronics Manufacturing Services Market Scope & Overview:
As per the Consegic Business Intelligence newly published report, the Electronics Manufacturing Services Market was valued at USD 537.10 Billion in 2023 and is projected to reach USD 945.67 Billion by 2031, growing at a CAGR of 7.3% from 2024 to 2031. Electronics Manufacturing Services encompass a range of outsourced solutions provided by specialized companies, including design, production, testing, and logistics for electronic components and assemblies. EMS providers streamline the manufacturing processes for original equipment manufacturers (OEMs) across industries such as consumer electronics, automotive, healthcare, and telecommunications, enhancing efficiency, scalability, and product quality.
The report comprises the Electronics Manufacturing Services Market Share, Size & Industry Analysis, By Service Type (Design & Engineering Services, Manufacturing Services, Logistics Services, Testing & Quality Control Services), By Service Provider Type (Tier 1 EMS Providers, Tier 2 EMS Providers, Tier 3 EMS Providers), By End-User Industry (Electronics, Automotive, Healthcare, Telecommunications), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East & Africa), and Forecast, 2024–2031.
The report contains detailed information on Electronics Manufacturing Services Market Trends, Opportunities, Value, Growth Rate, Segmentation, Geographical Coverage, Company Profile, In-depth Expert Analysis, Revenue Forecast, Competitive Landscape, Growth Factors, Restraint or Challenges, Environment & Regulatory Landscape, PESTLE Analysis, PORTER Analysis, Key Technology Landscape, Value Chain Analysis, and Cost Analysis.
Increasing demand for high-mix, low-volume production capabilities and the rising adoption of advanced surface-mount technology (SMT) are key drivers, while complex multi-tier supply chain management poses challenges to market growth.
Segmental Analysis :
By Service Type, the market is segmented into Design & Engineering Services, Manufacturing Services, Logistics Services, and Testing & Quality Control Services.
- Manufacturing Services held the largest share in 2023, driven by high demand for scalable production solutions and the trend towards outsourcing manufacturing to EMS providers.
- Logistics Services are anticipated to exhibit the fastest CAGR, supported by the increasing complexity of global supply chains and the need for efficient inventory management and distribution solutions.
By Service Provider Type, the market includes Tier 1, Tier 2, and Tier 3 EMS providers.
- Tier 1 EMS Providers accounted for the largest revenue share of 70.28% in 2023, owing to their extensive capabilities, global supply chains, and partnerships with major OEMs.
- Tier 2 EMS Providers are expected to grow at the fastest CAGR, driven by their focus on mid-sized projects, offering specialized, flexible solutions for niche applications.
By End-User Industry, the market is divided into Electronics, Automotive, Healthcare, and Telecommunications.
- Electronics dominated the market in 2023, driven by high demand for consumer devices like smartphones, wearables, and home entertainment products.
- The Automotive segment is projected to register the fastest CAGR, fueled by increasing demand for electric vehicles (EVs), advanced driver-assistance systems (ADAS), and autonomous driving technologies.
Based on regions, the global market is segmented into North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
- Asia-Pacific is anticipated to exhibit the highest growth, with China leading the market due to its strong electronics manufacturing base and cost advantages.
- North America remains a significant market, driven by the presence of major technology companies and increasing adoption of advanced electronics in aerospace, defense, and healthcare.
| Report Attributes | Report Details |
| Study Timeline | 2018-2031 |
| Market Size in 2031 | USD 945.67 Billion |
| CAGR (2024-2031) | 7.3% |
| By Service Type | Design & Engineering Services, Manufacturing Services, Logistics Services, Testing & Quality Control Services |
| By Service Provider Type | Tier 1 EMS Providers, Tier 2 EMS Providers, Tier 3 EMS Providers |
| By End-User Industry | Electronics, Automotive, Healthcare, Telecommunications |
| By Region | North America(U.S., Canada, Mexico) Europe(U.K., Germany, France, Spain, Italy, Russia, Benelux, Rest of Europe) APAC(China, South Korea, Japan, India, Australia, ASEAN, Rest of Asia-Pacific) Middle East & Africa(GCC, Turkey, South Africa, Rest of MEA) LATAM(Brazil, Argentina, Chile, Rest of LATAM) |
Top Key Players & Competitive Landscape :
The competitive landscape features leading industry players focusing on product innovation, R&D, and strategic partnerships to enhance market position. Analysis covers strengths, market share, and recent developments of key players.
List of prominent players in the Electronics Manufacturing Services Industry:
- Hon Hai Precision Industry Co., Ltd. (Foxconn) (Taiwan)
- Pegatron Corporation (Taiwan)
- Wistron Corporation (Taiwan)
- Flex Ltd. (Singapore)
- Jabil Inc. (USA)
- BYD Electronic (International) Company Limited (China)
- Universal Scientific Industrial Co., Ltd. (USI) (China)
- Sanmina Corporation (USA)
- New Kinpo Group (Taiwan)
- Celestica Inc. (Canada)
Recent Industry Developments :
- In October 2024, Cyient DLM acquired a U.S.-based EMS provider, enhancing its capabilities in complex, low-to-medium volume manufacturing for aerospace, defense, medical, and industrial applications.
- In June 2024, TVS Electronics expanded its EMS capabilities, aligning with India's "Make in India" initiative, to offer comprehensive design, manufacturing, and product lifecycle management solutions.
- In February 2024, Neotech launched an NPI and Electronics Manufacturing Center of Excellence in Silicon Valley, focusing on advanced electronics for aerospace, defense, and medical devices.
