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Electronic Manufacturing Services Market is Set to Surpass USD 650 billion by 2026

Electronic Manufacturing

Electronic Manufacturing Services Market is Set to Surpass USD 650 billion by 2026

According to a recent study from market research firm Global Market Insights, The Electronic Manufacturing Services Market is anticipated to witness exponential growth on account of rising investments and innovation in technologies like IoT & AI. Manufacturing companies are steadily adopting automation and smart manufacturing techniques to enhance their production capabilities, reduce operational costs and develop high-quality products.

Incorporation of industrial robots for smart production could enhance operational performance of the industrial unit and minimize human intervention. In November 2017, Asteelflash introduced a pilot program for its production facility in California for the creation of smart factory. The program would include installation of collaborative robots and connected equipment to increase productivity and generate real-time data.

Growing inclination towards smart home devices coupled with increasing integration of Internet of Things (IoT) & artificial intelligence (AI) solutions in consumer appliances may drive electronic manufacturers to adopt EMS. Considering these aspects, Global Market Insights, Inc., estimates that the electronic manufacturing services market could reach USD 650 billion by the year 2026.

The Electronic Manufacturing Services Market from the medical & healthcare application segment is poised to register a CAGR of over 4% through 2026. This appreciable growth rate is characterized mainly by the rapid digitalization of medical devices and surgical machinery. For instance, Bigfoot has developed a novel medical system, designed to offer continuous glucose monitoring capability and on-demand delivery of insulin to patients with varying diabetic conditions.

The solution includes a sensor-based wearable medical device, a data processing engine as well as an insulin dosage calculator for fully automated glucose management and delivery. Such endeavors are anticipated to significantly expedite the demand for EMS solutions in the medical domain, as the focus on delivering secure and safe treatments intensifies.

In addition to this, the growing adoption of real-time monitoring devices and systems in the healthcare sector is enhancing the need for effective PCB assembly through EMS, which is in turn likely to augment industry outlook over the projected timeframe. Key medtech entities such as Philips Healthcare, Fresenius Medical Care, Johnson & Johnson Medical Devices Companies, and GE Healthcare, among others are making collaborative efforts with EMS solution providers to facilitate cost-efficient production of advanced medical devices. For instance, Johnson & Johnson Medical Device Division partnered up with Jabil in 2018, for the manufacture of invasive surgical devices and orthopaedical devices. This joint effort not only enabled the companies to enhance medical device production but is also anticipated to help J&J achieve savings of nearly $600 million to $800 million by 2022.

The logistics segment held nearly 5% of the Electronics Manufacturing Services (EMS) industry share in 2019 and is expected to depict commendable growth at a 3% CAGR through 2026. This growth is attributed largely to the rising investment by EMS solution provides in logistics and transportation operations, in order to facilitate on-time deliveries and mitigate any potential service defects stemming from improper transportation.

The global Electronic Manufacturing Services Market consists of several key players offering logistics services, including SIIX Corporation, Kitron ASA, KENCO, and Syrma Technology, among others. Additionally, the ongoing trend of highly priced technical products has urged consumer electronics producers to engage third-party logistics services. This collaboration with contract manufactures will enable the companies to expand their global presence whilst ensuring quick and timely deliveries.

The consumer electronics sector, particularly in the APAC region is undergoing a major shift in manufacturing trends, mainly due to the current political tensions between China and the United States. Numerous electronics producers, including Samsung, have moved their operations bases to countries such as Vietnam and India, when the first visible fallouts from the tensions first came to light.

Moreover, lucrative policies implemented by the government of India, such as the Foreign Direct Investment initiative are providing foreign players ample opportunities to establish a manufacturing presence in the region. These favorable policies coupled with an abundance of cheap labor and raw material supply in the region will add impetus to electronic manufacturing services market expansion over the estimated timeline.

Key Companies covered in Electronic Manufacturing Services Market are Advanced Semiconductor Engineering Inc., Benchmark Electronics, Inc., Celestica Inc, Compal Electronics, Inc., Delta Group Electronics, Inc, Fabrinet, Flex Ltd, Foxconn Technology Group, Integrated Micro-Electronics, Inc., Inventec Corporation , Jabil Inc., KeyTronicEMS , Kimball Electronics, Inc. ,Plexus Corp., Quanta Computer, Sanmina Corporation, SIIX Corporation, Sparton Corporation, TPV Technology Limited, TT Electronics, Wistron Corporation

Source: https://www.gminsights.com/industry-analysis/electronic-manufacturing-services-ems-market

iot technology

How Shippers Can Leverage IoT Technology Solutions in Their Supply Chains

At one time, managing supply chain logistics was among the most difficult challenges that existed for a shipping company. Previously, the shippers with the best operational management programs sat at the head of the pack by default. Today, with increased automation and near-instantaneous data availability, controlling logistics has never been easier, and just about everyone is at least competent at handling their supply chains. This is a very positive thing for consumers; however, it also means that for companies to be able to innovate, grow and maintain a competitive edge, just being “good” at supply chains isn’t enough–these days, to achieve long-term success, you have to be great.

Here are five steps shippers can take to leverage IoT technology solutions in their supply chains:

1. Map out your existing process

Knowing what you are starting with is one of the most important steps in the entire process. Map out your existing process with fine, granular detail. If you have access to a Six Sigma expert, bring them in. When you have your current process defined, then, and only then, are you prepared to further enhance and improve your supply chain with IoT solutions.

2. Build a dedicated team to implement new IoT solutions

Ensure you have a chairperson, as well as enough allocated resources with “skin in the game,” to spearhead the implementation process. Nothing will throw sand in the gears faster than a team that has minimal direction and does not have any incentive to push things forward quickly and efficiently. Identify these people, have regular meetings with them and work together on S.M.A.R.T. type goals.

3. Know your competition

Study your peers and competitors to see what they are or are not doing. It’s highly probable that their struggles are also your struggles. However, don’t just follow your biggest competitor blindly, but rather study what they’re doing and develop a competitive edge based on their weaknesses. Map out their processes, see where they have implemented IoT technology, ask the ‘why’ and then take the best parts to incorporate into your own unique strategy.

4. Ask an expert

Consultants are experts for a reason. They’ve done this before and know what works and does not work. Developing an IoT solution is no easy task, so picking your consultant is an important step. Speak to multiple experts to gain multiple, educated opinions on how to proceed. Use the task force you created earlier and choose the best path for your organization that will have the greatest ROI.

5. Study your results and constantly evolve

Once you have mapped out your existing process, built your team, studied your competition, enlisted the help of experts, calculated your ROI and implemented your IoT technology solutions – don’t stop! IoT technology is ever-changing and learning, constantly collecting and analyzing granular data for your use. The more time and data that is dedicated to this process, the sharper your process will become. This access to information will open doors to opportunities for efficiency and possibly new markets in your supply chain.

What all of this translates to is a potential market that is broader than ever before. However, as new tech continues to narrow traditional gaps in efficiency, it also means that companies are now battling one another on that basis – when competing in an environment where customers can compare shipping speed and choose accordingly, getting package there faster is of paramount importance.

Companies need to find ways of protecting current market share while expanding into other areas. In this regard, IoT technology becomes especially valuable. IoT allows businesses to be more adaptable and make decisions on-the-fly, in addition to minimizing costly errors. Data collection also gives unprecedented perspective on customer needs as well as behaviors, allowing companies to innovate based on sound evidence – all of which creates opportunity for increased revenues.

The bottom line: technology is the way forward for just about every aspect of supply chain development. As always, innovation is an ongoing process and in the pursuit of greatness there’s simply no solution for investment and creativity. With all the tools that IoT provides, and these actionable steps, the possibilities truly are endless.

Globe Tracker

Globe Tracker & SeaCube for One Network Express IoT Gensets

One Network Express (ONE) confirmed an IoT-focused partnership with SeaCube Containers and Globe Tracker to develop a genset solution through utilizing Global Tracker’s layered technology capabilities. This along with other market solutions continue the reported increase in maritime logistics IoT demand overall.

“The growing demand for greater tracking, transparency, security, diagnostics and asset fleet management using smart technology will continue to be a key driver for leased solutions. By partnering with Globe Tracker, we will continue to enhance our leading-edge technology solutions and expand our commitment to the intermodal industry by providing smart asset technology leased products,” said Greg Tuthill, Chief Commercial Officer at SeaCube.
At the center of the development of the solution remains increasing visibility with smarter tracking abilities, specifically impacting reefer fleets. The anticipated kickoff of full operations is currently scheduled for mid-September through the end of 2019.
“We are extremely pleased to be working with SeaCube in providing this best-in-class genset solution to ONE. In genset telematics, we are the only provider integrated into the micro-controller of 2 out of the 3 leading brands in North America. This provides ONE with the most robust amount of data and assists in setting maintenance intervals, reducing maintenance costs, extending asset life, monitoring fuel consumption and having full operational visibility of their genset assets,” notes John Harnett, Senior Director Marine and Intermodal at Globe Tracker.