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Economic Outlook: Joe O’Neil Has More Optimism than Concerns
December 27, 2023 | I-Connect007 Editorial TeamEstimated reading time: 1 minute
Joe O’Neil’s background includes operating both printed circuit fabrication and printed circuit assembly companies. In his current role, Joe contributes to the strategic initiatives at IPC, including his involvement in developing advanced fabrication technologies demonstration facilities in the U.S.
For 2024, how would you describe the economic outlook for the industry? What are you optimistic about? What are you worried about?
The global economic outlook for the electronics industry in 2024 presents a mixed landscape. While there's a sense of flatness, several opportunities are emerging. One notable trend is the relocation of manufacturing from China to regions like Southeast Asia, Mexico, and the U.S., fostering a more diversified supply chain. I am particularly optimistic about the renewed focus on building a robust domestic electronics manufacturing base. New domestic activities across the value chain are on the rise and are expected to continue in the coming year.
There are, however, valid concerns. Rising interest rates, inflation, and other economic headwinds have the potential to delay these projects. Geopolitical tensions and increasing complexities in the industry are also worrisome factors.
What concerns you most in your growth plans: capabilities, capacity, or competition?
Actually, workforce is my main concern. I believe that there are talented, extremely bright young people coming up through our education system and entering the workforce. Can the electronics industry attract them? If so, I am not worried about developing and sustaining domestic capabilities and capacities and competing on a global scale. Without the workforce, none of that is possible. I see massive opportunities for bright, young engineers in our industry. The challenges are large, but the opportunities are large as well.
To read this entire conversation, which appeared in the December 2023 issue of SMT007 Magazine, click here.
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11/21/2024 | Andy Shaughnessy, I-Connect007At PCB West, I spoke with Jess Hollenbaugh, a recent college graduate who has now joined Polar Instruments. In this interview, she shares her journey from a physics student focused on high-energy astrophysics to her new role at Polar. Her insights provide a glimpse into the dynamic opportunities awaiting those who venture into this evolving industry.
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IPC Issues Clarion Call for EU to Reclaim Leadership in Electronics Manufacturing
11/21/2024 | IPCIPC released a synopsis of its recent white paper, Securing the European Union’s Electronics Ecosystem. This condensed document presents a comprehensive overview of the current challenges in Europe’s electronics manufacturing industry and shares actionable steps to help the EU achieve a stronger, more autonomous ecosystem.
ViTrox Americas Expands Reach in Southern U.S. with MaRCTex
11/21/2024 | ViTroxViTrox Americas Inc. is pleased to announce the appointment of MaRCTex Inc. as its new representative for the states of Texas, Louisiana, Oklahoma and Arkansas. Led by industry veteran Mike Gunderson, MaRCTex has a proven track record of supplying essential tools and solutions for the electronics manufacturing and high-tech industry across the United States. Additionally, demos are available at the ViTrox Americas Demo Center in Hutto, Texas.
Innovation Advisory Team Launches: Advancing WHMA’s Strategic Vision for Industry Growth
11/21/2024 | IPCThe Wiring Harness Manufacturers Association (WHMA) announces the launch of its Innovation Advisory Team (IAT), a strategic initiative aimed at driving technological advancements, enhancing industry practices, and elevating quality and efficiency within the wire harness sector.