As cited by the business intelligence report titled ‘Global Telecom Electronic Manufacturing Services (EMS) Market Size study, by Services (Electronic design & engineering, Electronics assembly, Electronic manufacturing, Supply chain management and Others) and Regional Forecasts 2020-2027’, available with Market Study Report, global telecom electronic manufacturing services (EMS) market was worth USD 155.7 billion in 2019 and is slated to record 7% CAGR, subsequently reaching a valuation of USD 267.5 billion by the end of the forecast period.
 

As per the report findings, escalating demand for smart electronics as well as telecom products along with increasing smartphone penetration are catalyzing global telecom electronic manufacturing services market (EMS) growth. In fact, according to a study conducted by Statista, the number of smartphone users across the globe was recorded to be 2.9 billion in 2018 and is predicted to rise to around 3.8 billion in 2021, implying a strong manufacturing demand for telecom electronics.
 

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For those unaware, the primary functions of telecom electronic manufacturing service providers include designing, manufacturing, assembly of printed circuit boards (PCBs), and testing of electronic components which are extensively used in the telecom sector by OEMs. With the rapid development in the consumer electronics vertical, demand for these services are increasing at a significant rate.
 

Speaking of the factors restraining global telecom electronic manufacturing services (EMS) market expansion, high costs of labor in the manufacturing sector will continue to barricade business development during the stipulated timeframe.
 

Based on services offered, the market is bifurcated into supply chain management, electronic manufacturing, electronics assembly, electronic design & engineering, and others.
 

Moving on to regional outlook, Asia-Pacific, Latin America, Europe, and North America are the key contributors of global telecom electronic manufacturing services (EMS) market value. Among these, North America currently dominates the industry in terms of market share and is touted to amass substantial returns over 2020-2027. High concentration of consumer electronics manufacturers with presence of well-established electronic production framework, and low labor costs are fostering the regional industry expansion.
 

Top players operating in global telecom electronic manufacturing services (EMS) market sphere are Benchmark Electronics, Inc., Altadox, Inc., Celestica, Inc., Plexus Corp., Creation Technologies LP, Compal Electronics, Inc., Fabrinet Co., Ltd., Hon Hai Precision Industry Co., Ltd., Flex Ltd. (formerly Flextronics), and Jabil, Inc.