Sellbyville, DE -- (SBWire) -- 05/16/2019 --The U.S. electronics manufacturing services (EMS) market dominates the global industry; the electronic manufacturing services demand in the country is estimated to exceed USD 70 billion by 2024. The emergence of several manufacturing companies across all industry verticals in the U.S. has increased competition and enforced OEMs to partner with the EMS providers. Additionally, increasing government rules to produce safe and tested electronic products to be used in industrial applications, such as medical devices and automobiles, supports EMS market growth. To save the labor costs involved in manufacturing and logistics operations, OEMs in the U.S. are shifting toward electronics contract services. These factors coupled with the growth in outsourcing activities account for the rapid development in the industry.
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With increasing need for cost-effective production of automobiles and consumer electronics, the electronics manufacturing services (EMS) market has gained enormous momentum over the last twenty years. Consistent rise in the consumption of mobile phones, portable electronics and connected devices overall has helped the growth of several small EMS players to meet the global demand. Vast opportunities in the aerospace, industrial and medical devices segment have also boosted the electronic manufacturing services industry. More recently, the communication and consumer electronics segment have driven EMS providers to pursue key expansion strategies and technological developments.
Electronics manufacturing services (EMS) 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.
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The electronics manufacturing services (EMS) market 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 electronics manufacturing services (EMS) market.
Automotive electronics manufacturing services (EMS) market will grow at a CAGR of around 5% in the coming years owing to the penetration of electronic devices and components in vehicular systems. Increasing utilization of automotive electronics including electronic systems, sensors, and ECUs in the safety, comfort, and infotainment devices creates a demand for EMS. Auto manufacturers develop contracts with the EMS providers for a continual supply of the electronic components. EMS market players have developed specialized design, manufacture, and diagnostic services for the automotive companies. For instance, Actia Group offers automotive industry-specific services to its vehicle manufacturing customers by supporting the production standards such as ISO TS 16949.
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The steady demand for EMS across numerous industrial sectors will thus considerably encourage electronics manufacturing services (EMS) market players to improve their product sales in the future. The development of adequate software solutions and enhanced abilities of EMS companies to expand their product offerings will also help major companies gain competitive benefits. Aided essentially by rapid technological transformations, electronics manufacturing services (EMS) market will surpass revenue collection of USD 650 billion by the end of 2024.
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U.S. Electronics Manufacturing Services (EMS) Market to Accrue Appreciable Proceeds by 2024
Automotive electronics manufacturing services (EMS) market will grow at a CAGR of around 5% in the coming years owing to the penetration of electronic devices and components in vehicular systems