Electronic Manufacturing Services Market in Automotive Application is Growing At A CAGR of 5% by 2024 | ASE Group Global, Benchmark Electronics, Celestica, Foxconn, Jabil, Kimball Electronics, Plexus Corp., Sanmina, Sparton Corporation, TT Electronics plc

Electronic Manufacturing Services Market is gaining momentum due to an increasing focus on electronic OEMs to enhance the quality of products. The quality of products is the key factor that differentiates the offerings of the company in a highly competitive electronics industry. To ensure the quality, the vendors in the industry are undertaking several testing procedures such as X-ray inspection, in-circuit testing, Automated Optical Inspection (AOI), and shock test. Enhanced capabilities of players in the industry will propel the industry growth.

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Automotive electronic manufacturing services market will grow at a CAGR of around 5% in the coming years owing to the penetration of electronic devices and components in vehicular systems. Increasing utilization of automotive electronics including electronic systems, sensors, and ECUs in the safety, comfort, and infotainment devices creates a demand for EMS. Auto manufacturers develop contracts with the EMS providers for a continual supply of the electronic components. Electronic manufacturing services market players have developed specialized design, manufacture, and diagnostic services for the automotive companies.

The electronic manufacturing services market is expected to grow significantly due to the rapidly-growing consumer electronics sector. In 2016, the consumer electronics industry was valued at USD 1,100 billion. Increasing adoption of smartphones is encouraging the manufacturers to opt for these services to meet the demand-supply gap. Also, technological advancements in consumer electronics such as speakers, smart homes, and other intelligent devices are rapidly increasing the demand for these devices. To enhance productivity, OEMs are outsourcing the electronics manufacturing, thus propelling the electronic manufacturing services market.

The key players covered in this study: -
• ASE Group Global
• Altadox, Inc.
• Benchmark Electronics
• Celestica
• Compal Electronics, Inc.
• Delta Group Electronics, Inc.
• Fabrinet
• Flextronics International Tecnologia Ltda.
• Foxconn
• Integrated Micro-Electronics, Inc. (IMI Global)
• Jabil
• KeyTronicEMS
• Kimball Electronics
• Plexus Corp.
• Sanmina
• SiiX Corporation
• Sparton Corporation
• TT Electronics plc

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Electronic manufacturing services market will be driven by the electronic manufacturing, which is expected to exceed 55% of the revenue share due to the continuous demand for electronic components in various industry verticals such as automotive, consumer electronics, and others. The products include manufacturing of printed circuit boards, microelectronics, optoelectronics, and radio frequency & wireless devices for the electronics, medical, and telecommunication applications.

The demand for green and energy-efficient devices & components that creates a need for these services further contributes to the electronic manufacturing services market growth. To cater to these demands, OEMs are developing strategic partnerships with the service providers that aids them in controlling manufacturing costs. The service providers offer product design, development, and manufacturing operations according to the demand from OEMs. Due to these facilities, OEMs achieve appropriate product supplies and save major development costs. This trend allows the electronic manufacturing services market players to develop green manufacturing facilities and energy-efficient products that support the global sustainable goals.

The U.S. electronic manufacturing services market dominates the global industry; the electronic manufacturing services demand in the country is estimated to exceed USD 70 billion by 2024. The emergence of several manufacturing companies across all industry verticals in the U.S. has increased competition and enforced OEMs to partner with the EMS providers. Additionally, increasing government rules to produce safe and tested electronic products to be used in industrial applications, such as medical devices and automobiles, supports EMS market growth. To save the labor costs involved in manufacturing and logistics operations, OEMs in the U.S. are shifting toward electronics contract services.

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The key companies operating in the electronic manufacturing services market include Flex Ltd., Kimball International, Foxconn, Celestica, Inc., Benchmark Electronics, Actia Group, Key Tronic EMS, Asteelflash, Venture Corporation, and Sanmina Corporation. These players focus on developing highly efficient service delivery capabilities. They innovate the products manufacturing and testing & development services to sustain in the highly competitive electronic manufacturing services market. The established players have an advantage of long-term customer contracts and focus on partnership and acquisition strategies.

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