Global telecom electronic manufacturing services market is estimated to be worth $234.2 billion by 2026
Acumen Research and Consulting, a global provider of market research studies, has projected that the global telecom electronic manufacturing services (EMS) market size may reach USD 234.2 billion by 2026, growing with 7.4 per cent CAGR during the forecast time period.
As per the firm’s recently published report, Internet of Things (IoT) is estimated to help the telecom business in terms of revenue generation and infrastructure growth, which is consequently projected to drive the market over the coming years.
The report noted that portable availability has enhanced hugely in the course of recent years and entrance of remote gadgets has seen sound development throughout the years. This pattern is expected to proceed throughout the following couple of years and boosts the telecom EMS market development.
Asia Pacific was the main income giver last year
Based on region-wise analysis, Asia Pacific was the main income giver in the worldwide field in 2018, followed by the North America. The area is predicted to hold its situation until 2026, advancing at the most astounding CAGR of over 7.2 per cent during the forecast period.
The researchers pointed out that there is an expanding pattern among OEMs of outsourcing product configuration process, which enables them to concentrate on center skills. The pattern is increasing critical energy in the area, which is anticipated to enhance the development of the market, they said.
The key players catering to the global Telecom Electronic Manufacturing Services (EMS) market, as per the report, are Benchmark Electronics, Inc., Flex Ltd., Plexus Corp., and Jabil Circuit, Inc.