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August 9, 2024 | Globe NewswireEstimated reading time: 1 minute
The worldwide electronics manufacturing services (EMS) market is a determining force in the production of electronics products and 2023 accounted for 42 percent of all assembly completed. However, outsourcing grew negatively in 2023 from the previous year as a result of an economic downturn in the computer and communication industries. This resulted in an industry decline of approximately approximately 8.1 percent in 2023. Both EMS and ODMs suffered equally, particularly those serving the top tier.
The Worldwide Electronics Manufacturing Services Market - 2024 Edition is the most comprehensive market research report on the EMS industry. This analysis focuses on the leading players, growing market segments, total available market (TAM), and emerging manufacturing opportunities and technologies by numerous products and countries.
The report begins with an analysis of the worldwide electronics assembly market, giving a baseline for the manufacturing value of electronics product assemblies. A forecast is checked against 46 individual product segments that make up the majority of electronics assembly (automotive, consumer, industrial, medical, aviation and aerospace and defense industries).
Some segments such as transportation and industrial are strong sources for outsourcing demand. The research team estimates that total electronics assembly value (OEM+EMS+ODM) was $1.3 trillion in 2023 and will grow to approximately $1.5 trillion in 2028 at a CAGR of 4.6 percent, mostly fueled by the demand for EMS services.
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