The electronics manufacturing services market is expected to grow by USD 118.49 billion during 2020-2024, according to the latest market research report by Technavio. Request a free sample report
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Technavio has announced its latest market research report titled Global Electronics Manufacturing Services Market 2020-2024 (Graphic: Business Wire)
OEMs are increasingly integrating advanced electronic components into electronic devices due to the growing use of smart manufacturing technologies and processes. This addresses the growing complexities and compliance and customization requirements. Smart manufacturing helps manufacturers achieve better efficiency both in terms of output and cost by providing high levels of flexibility in the physical process. Thus, the increasing adoption of smart manufacturing will boost the growth of the electronics manufacturing services market during the forecast period.
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As per Technavio, the rising penetration of big data analytics in the manufacturing industry will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
Electronics Manufacturing Services: Rising penetration of big data analytics in manufacturing industry
Big data analytics is gaining traction in the manufacturing industry as it enhances the efficiency of both discrete as well as process manufacturing. It saves time and minimizes the probability of errors by automating the tasks with required machine inputs. It enables real-time analysis of individual processes and complex interdependencies. This helps in on-time production and shipment or delivery of goods. Furthermore, big data analytics also optimizes the overall cost by optimizing the process and reducing the machine downtime. Such benefits of incorporating data analytics in manufacturing services is expected to showcase a positive outlook during the forecast period.
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Electronics Manufacturing Services: Segmentation Analysis
This market research report segments the global electronics manufacturing services market by end-user (computing and consumer appliances, telecommunication, industrial, automotive, healthcare, and other end-users), and geographic segmentation (APAC, Europe, MEA, North America and South America).
The APAC region led the electronics manufacturing services in 2019, followed by North America, Europe, South America and MEA. During the forecast period, the APAC region is expected to register the highest incremental growth due to factors such as ongoing urbanization, growing economic activities, entry of new companies, and support in businesses through government policies.
Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
- Computing and consumer appliances
- Other end-users
- North America
- South America
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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