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Telecom Electronic Manufacturing Services Market Opportunities, Leading Players, Size And Forecast To 2033
Telecom Electronic Manufacturing Services Market Opportunities
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According to The Business Research Company's, The telecom electronic manufacturing services market size has grown strongly in recent years. It will grow from $194.25 billion in 2023 to $207.40 billion in 2024 at a compound annual growth rate (CAGR) of 6.8%. The growth in the historic period can be attributed to industries embrace digital communication, the burgeoning demand for seamless connectivity and the proliferation of mobile devices, emergence of digital technologies, namely AI, IoT, and cloud computing, increasing demand for telecom infrastructure, and customization and flexibility.
The telecom electronic manufacturing services market size is expected to see strong growth in the next few years. It will grow to $273.71 billion in 2028 at a compound annual growth rate (CAGR) of 7.1%. The growth in the forecast period can be attributed to rising adoption of 5G technology, growing urbanization and infrastructural activities, rising demand for mobile phones, products, and intelligent electronic devices, growth in global internet usage, and focus on core competencies. Major trends in the forecast period include technological innovations in manufacturing, digital transformation across industries, Need For Customized, high-quality electronic components to support digital infrastructure development and connectivity initiatives, introduction of 5G-enabled smartphones and telecom equipment, and integration of artificial intelligence (AI), internet of things (IoT), and advanced networking solutions.
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Market Drivers and Trends:
The rising adoption of 5G technology is expected to propel the growth of the telecom electronic manufacturing services market going forward. 5G technology is the fifth-generation mobile network technology designed to significantly enhance wireless communications' speed, capacity, and reliability. The rising adoption of 5G technology is due to the exponential growth in data consumption, improving the user experience for activities such as video conferencing, remote work, and augmented/virtual reality applications. The adoption of 5G technology will revolutionize telecom electronic manufacturing services by enhancing connectivity, enabling advanced automation, improving data analytics, optimizing supply chains, and fostering innovation. For instance, in February 2023, according to T-Mobile International AG, a Germany-based mobile telecommunications company, there were more than 1 billion active 5G subscriptions in 2023, which is expected to reach 5 billion by the end of 2028. Therefore, The rising adoption of 5G technology drives the telecom electronic manufacturing services market.
Major companies operating in the telecom electronic manufacturing services market are focused on technological advancements such as electronic design automation (EDA) solutions to streamline the design process, enhance product development efficiency, and reduce time-to-market for new telecommunications equipment. Electronic design automation (EDA) solutions are software tools used to design and check complex electronic systems such as integrated circuits (ICs) and printed circuit boards (PCBs). For instance, in March 2024, HCL Technologies Limited, an India-based information technology (IT) consulting company, in partnership with NetApp, a US-based infrastructure company, launched an electronic design automation (EDA) solution to accelerate EDA workloads in the cloud. The Key features include accelerating EDA implementations in the hybrid cloud, streamlining the semiconductor design process, managing growing data volume and workflow complexities, optimizing IT environments and managing infrastructure orchestration, transforming operations and building resilience, and delivering the EDA solution in various consumption models.
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Major Key Players of the Market:
Foxconn Electronics Inc., Pegatron Corp, Jabil Inc., Flex Ltd., Sanmina Corp., Celestica Inc., Plexus Corp, Zollner Elektronik AG, Benchmark Electronics Inc., Fabrinet Company Ltd., Venture Corp Ltd., Dixon Technologies Ltd., Asteelflash Group, Creation Technologies, Ducommun Inc., Neways Electronics International N.V., Sparton Corp, Nortech Systems Inc., Sypris Electronics LLC, Avalon Technologies Inc., VTech EMS Inc., Katek Group
Telecom Electronic Manufacturing Services Market 2024 Key Insights:
• The telecom electronic manufacturing services market size is expected to see strong growth in the next few years. It will grow to $273.71 billion in 2028 at a compound annual growth rate (CAGR) of 7.1%.
• The Rising Adoption Of 5G Technology Fuels Growth In The Telecom Electronic Manufacturing Services Market
• Leading Telecom EMS Companies Drive Innovation With New EDA Solutions To Streamline Design And Accelerate Time To Market
• Asia-Pacific was the largest region in the telecom electronic manufacturing services market in 2023
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