The emergence of green electronic devices is driving the electronics manufacturing services market growth.
Global Electronic Manufacturing Services (EMS) Market Size, Share and COVID-19 Impact Analysis, By Service (Electronics Manufacturing Services, Engineering Services, Test and Development Implementation, Logistics Services, and Others), By Industry (Consumer Electronics, Automotive, Heavy Industrial Manufacturing, Aerospace and Defense, Healthcare, IT and Telecom, and Others), and Regional Forecast, 2022-2029
Electronic Manufacturing Services (EMS) Market Overview:
USD 25.85 billion by 2029
USD 1.68 billion in 2021
CAGR: (2022-2029) 40.8%
Base Year: 2021
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DRIVING FACTORS
Improvement of Greener Electronic Devices in Brightening Market Prospects
The emergence of green electronic devices is driving the electronics manufacturing services market growth. These devices are manufactured with recyclable parts, non-toxic chemicals, and reduced carbon emissions during production. It helps reduce carbon footprints, lower energy consumption, and improve process control.
The growing concerns about the rising e-waste across the globe have led to the innovation of greener electronic products. According to the Global E-waste Monitor 2020, a report published in collaboration with the UN Environment Program (UNEP), in 2019, around 53.6 million metric tons of e-waste were produced. Raw materials contained in that e-waste were valued at USD 57 billion.
Research Methodology:
We follow a robust research methodology that involves data triangulation based on top-down, bottom-up approaches, and validation of the estimated market numbers through primary research. The information used to estimate the market size and forecast for various segments at the global, regional, and country-level is derived from the most credible published sources and through interviews with the right stakeholders.
The Growth rate or CAGR exhibited by a market for a certain forecast period is calculated on the basis of various factors and their level of impact on the market. These factors include market drivers, restraints, industry challenges, market and technological developments, market trends, etc.
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KEY INDUSTRY DEVELOPMENTS:
November 2021: Hon Hai Precision Industry Co., Ltd. and Lordstown Motors Corp. entered into an asset purchase agreement with a strategic partnership. The Lordstown Motors Corp. sold the Lordstown facility to the company for USD 230.0 million.
LIST OF KEY COMPANIES PROFILED:
- Sanmina Corporation
- Hon Hai Precision Industry Co. Ltd
- Benchmark Electronics Inc.
- Flex Ltd
- Jabil Inc.
- Celestica Inc.
- Wistron Corporation
- Plexus Corporation
- Fabrinet
- COMPAL Inc.
Scope of the Report:
This market study covers the global and regional market with an in-depth analysis of the overall growth prospects in the market. Furthermore, it sheds light on the comprehensive competitive landscape of the global market. The report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, recent developments in both historic and present contexts.
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Press Release Distributed by The Express Wire
To view the original version on The Express Wire visit By 2029 Electronic Manufacturing Services (EMS) Market USD 25.85 billion
