The global Telecom Electronic Manufacturing Services (EMS) Market size is anticipated to account for USD 266.42 billion by 2027. The market is projected to register 7.3% CAGR over the forecast years 2020 to 2027, as per a new report by Million Insights. Rapid development in the telecom sector is estimated to be a key factor driving the market growth. In addition, mobile connectivity has increased considerably in the recent past along with wireless devices. Further, this trend is anticipated to continue over the next few years, thereby, anticipated to bolster the market growth.
Electric manufacturing segment accounted for the highest growth in 2019. Increasing focus by OEMs to outsource product design and development services is driving the segment growth. Outsourcing helps manufacturers to focus on their core competencies and stay ahead in the highly competitive market. On the other hand, electronic design and engineering services segment is predicted to witness the maximum growth from 2020 to 2027.
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Asia Pacific emerged as the leading shareholder in the global telecom EMS market in 2019 due to the increasing outsourcing activities by OEMs. The region is also a major hub for electronic product and anticipated to retain its leading position over the forecast duration. Countries such as China, India, Japan and Vietnam are contributing to the growth of the region.
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Further key findings from the report suggest:
• Factors such as the growing need to reduce the overall cost and stay competitive in the market are driving the global market.
• Electronic manufacturing occupied the highest share in the market in 2019.
• Asia Pacific held the highest share in the market in 2019 and projected to remain dominant over the forecast duration.
• Key players operating in the market are Flex, Ltd, Jabil Circuit, Benchmark Electronics and Plexus Corp among others.
Million Insights has segmented the global telecom EMS market on the basis of services and region:
Telecom EMS Service Outlook (Revenue, USD Billion, 2016 - 2027)
• Electronic design & engineering
• Electronics assembly
• Electronic manufacturing
• Supply chain management
Telecom EMS Regional Outlook (Revenue, USD Billion, 2016 - 2027)
• North America
• Asia Pacific
• South Korea
• South America
• Middle East & Africa
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