Rise in Demand, Europe EMS and ODM Value was 56752 M USD in2022

Rise in Demand for Consumer Electronics   

Increased adoption of smart home devices in advanced economies around the world is one reason for the growth. Manufacturing of radio frequency & wireless devices, optoelectronics services, and microelectronics devices for ongoing smart home trends are among the electronic manufacturing services supplied by corporations in industrialized countries. Growing popularity of latest and greatest medical devices is expected to significantly boost the market growth owing to stringent regulatory environment for device manufacturing and demand for highly advanced manufacturing technologies. This has further led to widespread adoption of contract services by OEMs in order to focus more on their core competencies and invest more in research and development to reduce costs and gain competitive advantage over other competitors.

Increasing focus on cost reduction and profit maximization by key industry players across industries is one of the key factors that will facilitate the adoption of contract services and thereby expand market growth throughout the forecast period. In addition, increased competition in the industry has further led to profit dilution, resulting in the widespread adoption of these services to reduce costs and expand profits.As a result of the increased adoption of innovative technologies in the consumer electronics sectors, demand for EMS and ODM goods is likely to rise.

To build linked gadgets for smart homes, key leaders are inclined to integrate Artificial Intelligence (AI), cloud computing, 3D printing, and big data analysis to improve their engineering and factories. Players in the EMS and ODM market are extending their manufacturing locations in order to integrate new technologies and meet the industry\'s strong demand for smart home services. Rapid technical advancements have resulted from this rising need. As a result, to meet the increased demand, OEM constantly proposes innovative items in the consumer electronics sector.

By type, EMS segment accounted for the largest share of market in 2021. By application, the Emerging segment occupied the biggest share from 2017 to 2022. Germany was the largest revenue market and France ranked the second. From 2022-2027, Germany is estimated to witness robust growth prospects.