Electronic Manufacturing Services Market: Trends, growth opportunities and forecast to 2026

Electronic Manufacturing Services Market size will expand lucratively during the forecast period due to rising investments and innovation in technologies like IoT & AI.

Selbyville, United States – July 20, 2021 /MarketersMedia/ —

The electronic manufacturing services (EMS) market is anticipated to witness exponential growth on account of rising investments and innovation in technologies like IoT & AI. Manufacturing companies are steadily adopting automation and smart manufacturing techniques to enhance their production capabilities, reduce operational costs and develop high-quality products.

Incorporation of industrial robots for smart production could enhance operational performance of industrial unit and minimize human intervention. In November 2017, Asteelflash introduced a pilot program for its production facility in California for the creation of smart factory. The program would include installation of collaborative robots and connected equipment to increase productivity and generate real-time data.

Growing inclination towards smart home devices coupled with increasing integration of Internet of Things (IoT) & artificial intelligence (AI) solutions in consumer appliances may drive electronic manufacturers to adopt EMS. Considering these aspects, Global Market Insights, Inc., estimates that the electronic manufacturing services market could reach USD 650 billion by the year 2026.

Listed below are a few of the ongoing trends stimulating the demand for electronic manufacturing services:

1) Rising demand in the medical and healthcare sector –

Rapid digitalization of medical devices and surgical equipment could propel the demand for EMS in medical & healthcare sector. Estimates suggest the application segment might register a compound annual growth rate of more than 4% within the predicted timeframe. EMS solutions would help medical institutions to deliver secure and safer treatment options.

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Shifting trends toward developing real-time monitoring devices and solutions in the healthcare sector could drive the sales of efficient PCB assembly products. Prominent companies like Philips Healthcare, Johnson & Johnson Medical Devices Companies, Fresenius Medical Care, and GE Healthcare are working on forming strategic relations with EMS providers to develop cost-effective healthcare devices. For instance, back in August 2018, Johnson & Johnson’s Medical Device Division joined forces with Jabil to manufacture invasive surgical and orthopaedical devices.

2) Promising opportunities across North America –

Rising imminence of portable diagnostic systems and smart wearable devices like Fitbit could strengthen the North America electronic manufacturing services market size. The region earlier accounted for more than 20% of the overall market share and is expected to record a growth rate of almost 6% by the end of 2026.

Rapid integration of smart sensors into diagnostic systems could accelerate the demand for EMS in North America. With the advent of integrating chips and microprocessors, medical devices have become significantly compact.

3) Implementation of lucrative business strategies –

Companies operating in the electronic manufacturing services market are emphasizing on strategic collaboration and acquisition deals to expand their production capabilities and consumer base. Taking July 2020 for instance. Amara Raja Group announced that it has partnered with Blaze Automation to build a joint venture dubbed, Amara Raja Blaze Technologies Pvt. Ltd. (ARBT) to manufacture and develop IoT devices for global markets.

About Global Market Insights, Inc.

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.

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