“Electronic Contract Manufacturing Services market to present promising growth prospects through the forecast period” says Visiongain report
23 July 2019
Visiongain has launched a new Electronic Contract Manufacturing Services Market: Forecasts by End-use (Healthcare, Automotive, Industrial, Aerospace & Defense, IT & Telecom, Power & Energy, Consumer Electronics), by Service (Electronic Design & Engineering, Electronics Assembly, Electronic Manufacturing) PLUS Profiles of Leading Companies and Regional and Leading National Market Analysis.
The global electronic contract manufacturing market is expected to present promising growth prospects during the forecast period. Some of the factors responsible for the growth of the market include functional testing offered by contract manufacturers and increasing functionalities such as sub-assembly manufacturing, design and engineering of printed circuit boards, and component assembly.
Electronics manufacturing services (EMS) can be defined as a type of manufacturing outsourcing services in the field of engineering, which offer a broad array of core manufacturing competences. Additionally, outsourcing of ancillary activities aids original equipment manufacturers to target their core capabilities. This further helps the OEMs in reduction of production related expenses, improvement of their operational productivity, and lowering the requirement for fixed capital investment. Contract manufacturer generally specialize in procurement of raw material, pooling resources, industrial design expertise, and economics of scale in services. In addition, they provide value-added services including warranty & repairs, which enables OEMs to bypass complex large-scale industrial procedures. Companies also outsource the request for circuit assembly to decrease the time-to-market and time-to-volume production by utilizing manufacturing services, technology solutions, and engineering & design services by EMS providers. The electronic manufacturing services market is anticipated to gain traction during the forecast period because of these factors
Electronic contract manufacturing services allows OEMs to reduce the cost associated with equipments and to accelerate the R&D activities. The market is witnessing intense competition due to the presence of key players such as Flextronics International, Ltd., Hon Hai Precision Industry Co., Ltd., Sanmina Corporation, Benchmark Electronics, Inc., Venture Corporation, and Jabil Circuit, Inc. Companies are continuously trying to increase their production capacity. For instance, Flextronics International, Ltd., Jabil Circuit, Inc. and Sanmina Corporation are planning expansion of their manufacturing facilities in Europe. These key players engage in mergers and acquisitions as well as offer low cost outsourced services to the designing and production sectors so as to gain a competitive advantage.
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