Global EMS and ODM Market to Offer Increased Growth Prospects for Manufacturers - Digital Journal

2022-05-11 08:32:00 By : Mr. Kevin L

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The EMS and ODM market has expanded as a result of firms providing end-to-end solutions and assisting automakers with service realisation. The rising number of electric cars on the road as a result of government efforts to minimise CO2 emissions would likely encourage automakers to employ EMS. Several countries seek to implement programmes and legislation to boost the usage of electric cars. This is expected to have a beneficial influence on EMS and ODM growth prospects in the next few years.

The future manufacturing activities of these main companies in the post-lockdown period are expected to drive market expansion. Supportive regulatory policies and relaxations in lockdowns are expected to boost demand for EMS and ODMs throughout the forecast period. The use of remote working procedures by industry participants to prevent the spread of COVID-19 at workplaces is projected to benefit the EMS and ODM market. Demand for EMS and ODM items is expected to rise as a result of greater use of technological advances in the electronics and automotive sectors.

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Foxconn Technology, New Kinpo Group, Universal Scientific Industrial Co. Ltd., Shenzhen Kaifa Technology, Venture Corporation Ltd., Zollner Electronik AG, UMC Electronics Ltd., Flex Ltd., Jabil Inc., and Sanmia Corporation are among the key participants in the worldwide EMS and ODM market. To improve their position in the worldwide EMS and ODM market, these businesses have used a variety of methods, including product releases, partnerships, collaboration, mergers & acquisitions, and joint ventures.

The global spread of COVID-19 has had a substantial influence on the growth of the EMS and ODM markets. The quick spread of COVID-19 has resulted in lockdowns in various countries, disruption of supply lines, and the shutdown of several production sites. The delay in the production of new products by ODMs has had a substantial influence on the expansion of end-use industries, which is anticipated to hinder EMS and ODM market projected growth throughout the forecasted period. Major players all around the world are focusing on decreasing operational costs in order to survive in the EMS and ODM sectors.

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The New Kinpo Group announced in July 2018 the construction of two new production facilities in the Philippines in order to establish a manufacturing centre in the South-East Asian area. The corporation intends to expand its manufacturing operations due to the accessibility of sufficient infrastructure and experienced workers.

Qualcomm and Universal Scientific created a joint venture in Sau Paulo, Brazil, in February 2018 to build a semiconductor module plant. It will aid in the manufacture of smartphone components, the fabrication of modules, and the design of facilities in Brazil.

Venture Enterprise Innovative, Inc., a new wholly-owned company in California, US, was purchased by Venture in January 2018. It will aid in the adoption of modern technologies in the US market.

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