Telecom Electronic Manufacturing Service Market
Asia-Pacific contributed the highest revenue in 2019 and is expected to grow at the same rate during the forecast period, owing to the demand for small equipment rising exponentially and the expansion efforts taken by the major EMS provider companies, which indicates the signaling growth for new EMS players who wish to penetrate the segment. Moreover, increased investments by several companies in the form of facility expansions, R&D investments, and all these factors are collectively contributing toward the growth of the telecom electronic manufacturing service market in Asia-Pacific. Allied Market Research, titled, “Telecom Electronic Manufacturing Service Market by Product Type and Service: Global Opportunity Analysis and Industry Forecast, 2020-2027” the global telecom electronic manufacturing service market size was $137.37billion in 2019 and is projected to reach $209.17 billion by 2027, to register a CAGR of 6.50% during the forecast period. Asia-Pacific is expected to be the leading contributor to the global telecom electronic manufacturing service market, followed by North America and Europe.
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Electronics manufacturing service (EMS) refers to an overall industry and also to a specific class of subcontractors or companies. EMS is also often used interchangeably with the more generic term contract manufacturing (CM). EMS companies also provide value-added engineering and manufacturing outsourcing services to original equipment manufacturers (OEMs), which allows them to improve effective productivity and focus on core activities such as R&D. The telecom EMS market is dynamic, and the demand for electronic components and outsourced manufacturing services is witnessing rapid growth.
As a leader in mixed low-volume manufacturing, the EMS industry is witnessing a critical role in the electronics value chain. Rapid innovation is initiating the need for speed and disrupting the supply chain model that creates growth opportunities for the telecom electronic manufacturing service market share. Forces such as the digital age, customization, globalization, software integration, complexity, and environmental changes have driven the need for a robust supply chain backed up with complete traceability and transparency. Dynamic electronic manufacturing service (EMS) works with customers and the supply chain at both the design stage and throughout the life-cycle of a product.
The most prominent factors that drive the telecom electronic manufacturing service market growth are increasing demand for EMS technology in the telecom sector, rising demand for electronic devices in developed and developing nations, and government initiatives. However, high labor costs in the manufacturing sector are expected to hinder the market growth. Conversely, the rising adoption of 5G technology and the emerging Internet of Things (IoT) technology are expected to offer lucrative opportunities for the market globally.
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Competitive Analysis:
The Telecom Electronic Manufacturing Service industry’s key market players adopt various strategies such as product launch, product development, collaboration, partnership, and agreements to influence the market. It includes details about the key players in the market’s strengths, product portfolio, market size and share analysis, operational results, and market positioning.
Some of the major key players in the global Telecom Electronic Manufacturing Service Market include,
FLEX LTD
CREATION TECHNOLOGIES
PLEXUS CORP
CELESTICA INC.
PEGATRON CORP
HON HAI TECHNOLOGY GROUP (FOXCONN)
JABIL INC.
WISTRON CORP
BENCHMARK ELECTRONICS INC.
SANMINA CORPORATION
The electronic manufacturing segment contributed the maximum in terms of revenue to the market and accounted for a 40% share in 2019. Factors such as increasing demand for communication devices, continuously developing trend, and the expansion of wireless communication technology is expected to create growth opportunities for electronic manufacturing service companies to manufacture more electronic components However, electronic manufacturing is expected to grow at a rate of 5.80%. Original equipment manufacturers (OEMs) are also tapping into the trend of outsourcing product design and development to subcontractors to subsequently gain major advantages, including a shift from fixed to variable cost and a reduction in the overall cost. The supply chain management segment was the contributor to maximum revenue in 2019 and is expected to grow at a CAGR of 7.90% from 2020 to 2027. Rapid innovation is initiating the need for speed and disrupting the supply chain model that creates growth opportunities for the telecom electronic manufacturing service industry.
By region, the telecom electronic manufacturing service market trends have been analyzed across North America, Europe, Asia-Pacific, and LAMEA. The analysis identified that Asia-Pacific contributed the maximum revenue in 2019. The telecom electronic manufacturing service market growth in LAMEA is expected to grow at a faster rate as compared to other regions. Telecom service is anticipated to be hosted enormously on the cloud, due to many mobile users in every area.
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Key Findings of the Study:
– In 2019, the electronic manufacturing segment accounted for the maximum revenue and is projected to grow at a notable CAGR of 5.80% during the forecast period.
– The Electronic manufacturing segment accounted for more than 40.0% of the telecom electronic manufacturing service market share in 2019.
– The supply chain management segment witnessed the highest growth rate during the forecast period.
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