What’s driving the EMS Market Growth? | Key Players are Kimball International, Celestica, Inc., Integrated Microelectronics, Flex Ltd., Key Tronic EMS, Foxconn, Venture, Benchmark Electronics, Creation Technologies, API Technologies

EMS 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.

EMS Market is projected to surpass USD 650 billion by 2024. The industry is expected to witness a significant growth due to the growing need of manufacturers to reduce the Time-To-Market (TTM). Reducing TTM, particularly for new products, allows OEMs to reach the customers faster than their competitors, enhancing their share in the industry. For the new products, the reduced time-to-market allows OEMs to gain advantages such as premium pricing, driving the EMS market growth.

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The margins in the business are low and the companies are highly sensitive to fluctuations in material prices and labor costs, restraining the EMS market growth. Furthermore, to achieve economy of scale, these companies are required to produce large volumes to satisfy customer needs. The strong competition among the players in the industry restrains the small players from procuring orders with large volumes. These factors are expected to hinder the industry growth over the forecast timespan.

The EMS 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 EMS market.

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Low cost and the availability of raw materials and workforce bodes well for the industry in the region. The companies in the region provide services to OEMs in countries including Germany, the U.S., and France. The companies in the region are rapidly digitizing their businesses to achieve end-to-end integration of their operations. This is further encouraging the OEMs from North America and Europe to outsource their services to Asia Pacific, propelling the EMS market growth in the region.

Key players in the EMS market include Kimball International, Celestica, Inc., Integrated Microelectronics, Inc., Flex Ltd., Key Tronic EMS, Foxconn, Venture Corporation, Benchmark Electronics, Inc., Creation Technologies, API Technologies Corp., and Sanmina Corporation. The industry is characterized by strong competition among the players due to low entry barriers. The companies are undertaking strategies such as acquisition to gain industry share and expand their businesses.

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3. EMS Industry Insights

3.1. Industry segmentation
3.2. Industry landscape, 2013 – 2024
3.2.1. Outsourcing industry landscape
3.2.2. Electronic manufacturing industry landscape
3.3. Industry ecosystem analysis
3.3.1. Distribution channel analysis
3.3.2. Vendor matrix
3.4. Technology & innovation landscape
3.4.1. Product design outsourcing
3.4.2. Manufacturing integration
3.4.3. Big data
3.4.4. IoT
3.5. Regulatory landscape
3.5.1. North America
3.5.2. Europe
3.5.3. Asia Pacific
3.5.4. Latin America
3.5.5. MEA
3.6. Industry impact forces
3.6.1. Growth drivers
3.6.1.1. Growing need to shorten the time to market
3.6.1.2. Increasing demand for consumer electronics
3.6.1.3. Shift of electronic companies from traditional products to niche product manufacturing
3.6.1.4. Growing penetration of smartphones and smart devices
3.6.1.5. Growing trend of outsourcing by OEMs to enhance productivity
3.6.1.6. Growing opportunities in medical device manufacturing in North America and Europe
3.6.1.7. Increasing demand for connected technology in Europe
3.6.1.8. Growing trend of industrial automation in India and China

3.6.1.9. Production shift to countries in Asia Pacific with low labor cost
3.6.2. Industry pitfalls & challenges
3.6.2.1. High costs associated with the transport of products manufactured by EMS companies to OEMs
3.6.2.2. Focus of companies on high volume products
3.6.2.3. High risks associated with the model and lack of risk management competencies
3.7. Growth potential analysis

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