Automotive electronic manufacturing services (EMS) market will grow at a CAGR of around 5% in the coming years owing to the penetration of electronic devices and components in vehicular systems
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Owing to the surging demand for consumer electronics, measurable devices, industrial automation, and medical devices, electronic manufacturing services (EMS) market has been observing a considerable growth momentum lately. EMS market players have been witnessing rapid product demand that has been encouraging them to implement revenue generating business strategies.
In fact, within the last few years, numerous companies have invested vigorously to acquire rival production facilities, to expand regional facility centers and improve serviceability. The continuously expanding electronic manufacturing industry across the globe in line with the rapid digitalization is poised to impel the electronic manufacturing services (EMS) market.
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Of late, issues related to the material supply have been threatening the companies in the electronic manufacturing services (EMS) market. In this regard, to ensure the continuous accuracy for material allocation, completion of planned worked orders, spoilage, and accountability of the end product, most of the electronic manufacturing services industry companies have been deploying new software technologies at their workplaces.
The integration of automation and smart technologies are proving to be rather beneficial for these firms.
Validating the aforementioned fact, recently, Denmark’s largest electronic manufacturing service company, GPV, acquired the Swiss-based EMS company CSS. This acquisition has helped the Danish company to expand its presence across North American, European, and Asian continents.
In addition, GPV is aiming to strengthen its customer base by improving its product set-up and delivering small and medium-sized series. The tremendous potential of EMS providers to deliver high-end services to their customers will thus have an extensive influence on the electronic manufacturing services (EMS) market growth over the years ahead.
Speaking along the same line, Kimball Electronics, Inc., in a bid to harness EMS for multifaceted manufacturing solutions has purchased all the assets and liabilities of Global Equipment Services and Manufacturing, Inc. and its subsidiaries. This acquisition will open up new business opportunities for Kimball Electronics, Inc.
owing to the widespread technology portfolio of GES in automation, test, and measurement. Additionally, for achieving the global success in electronic manufacturing services (EMS) market, Kimball is planning to implement a new platform strategy as well, over the years ahead.
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The steady demand for EMS across numerous industrial sectors will thus considerably encourage electronic manufacturing services market players to improve their product sales in the future. The development of adequate software solutions and enhanced abilities of EMS companies to expand their product offerings will also help major companies gain competitive benefits.
Aided essentially by rapid technological transformations, electronic manufacturing services (EMS) market will surpass revenue collection of USD 650 billion by the end of 2024.
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