Our lives are largely dependent on machines and electronic gadgets. We are very lucky that we live in an era where all of these luxuries were possible through electronic manufacturing services. This allows us to identify our needs and routine tasks. So that we can design and manufacture electronic gadgets to automatically take care of these needs and tasks. Hence, it allows us to make our lives easier and our world a better place.
A report published by a leading market research firm suggests that the market share of contract electronic manufacturing is estimated at $417 billion in the USA alone. This report also suggests that contract electronic manufacturing services will see exponential growth in Europe, UK, Australia, and other developed countries in the coming years. In light of these facts, it is quite easy to see that these services are in high demand for a good reason.
In 2021, the global electronic manufacturing services (EMS) market size was valued at $500.26 billion, which is expected to grow at $849.72 billion in 2028 with a CAGR of 7.9%. The whole market grows rapidly which is driven by industries like telecommunication and medical, and according to the statistics, most end-users of EMS are from communication and computer hardware industries account for about 59% of the total demand.
