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Over 2018 – 2024, Asia Pacific Region in Electronic Manufacturing Services Market to Register Extensive Growth from Presence of a Large Number of OEMs in the region

Author : Ronak Bora | Published Date : 2019-03-27 

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.

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The demand for green and energy-efficient devices & components that creates a need for these services further contributes to the electronic manufacturing services market growth. To cater to these demands, OEMs are developing strategic partnerships with the service providers that aids them in controlling manufacturing costs. The service providers offer product design, development, and manufacturing operations according to the demand from OEMs. Due to these facilities, OEMs achieve appropriate product supplies and save major development costs. This trend allows the EMS market players to develop green manufacturing facilities and energy-efficient products that support the global sustainable goals.

The electronic manufacturing services market is expected to grow significantly due to the rapidly-growing consumer electronics sector. 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 electronic manufacturing services market.

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Automotive electronic manufacturing services 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. electronic manufacturing services 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.

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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All in all, with unprecedented growth in the demand for consumer electronics over the next few years, the electronic manufacturing services market will witness tremendous inflow of capital for expanding production capacities. Constant innovations, for instance EMS company New Kinpo Group’s AI-powered manufacturing robots and autonomous manufacturing capabilities, will further attract OEMs towards Asian companies. Key players dominating the global EMS market share include Foxconn, Integrated Microelectronics, Inc., Benchmark Electronics, API Technologies Corp., Celestica, Inc., New Kinpo Group, Venture Corporation and Sanmina Corporation.

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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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