The Europe Telecom Electronic Manufacturing Services Market would witness market growth of 7.0% CAGR during the forecast period (2023-2030).
Radio frequency (RF) or wireless devices are frequently used in telecommunications applications. EMS providers may assemble radio frequency identification devices (RFID) and other telecommunication and wireless technologies. Furthermore, increasing demand for mobile phones, telecom products, and smart electronic devices is driving the growth of the market. In addition, rapidly developing devices, such as smartphones and tablets, have facilitated unique collaborations and partnerships between service providers and OEMs. The prominent factor driving the growth of the market includes increasing demand for EMS technology in the telecom sector.
The increasing need for mobile phones, telecom products, and smart electronic devices is propelling the growth of the market. The growing need for electronic devices in developed and developing countries and government initiatives are the key factors for the rise in local manufacturing that fuels the market expansion. However, one of the major restraints is the high labour costs in the manufacturing sector. Higher labour costs, such as higher wage rates and employee benefits, motivate employees to work seamlessly. Still, they can reduce the company's profits and decrease the number of jobs, which may impact its growth.
According to Germany Trade and Invest, Germany is projected to become the leading spender in Europe in terms of IoT expenditures, surpassing EUR 35 billion by 2023. Furthermore, the turnover generated by IoT is expected to double from EUR 22.5 billion in 2018 to EUR 45 billion by 2023. Rising ITO spending in Germany may indicate an increased focus on upgrading and expanding telecom infrastructure. Telecom EMS providers are critical in manufacturing the equipment and components needed to deploy advanced networks, including 5G technology. As telecom companies focus on ITO to enhance their services, EMS providers must adhere to industry standards and compliance requirements. The factors mentioned above will propel the market growth in this region.
The Germany market dominated the Europe Telecom Electronic Manufacturing Services Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $15,163.5 million by 2030. The UK market is exhibiting a CAGR of 6.1% during (2023 - 2030). Additionally, The France market would experience a CAGR of 7.8% during (2023 - 2030).
Based on Type, the market is segmented into Electronic Manufacturing, Electronics Assembly, Electronic Design & Engineering, Supply Chain Management, and Others. Based on Product, the market is segmented into Transceivers & Transmitters, Servers & Routers, RF & Microwave, Computing Devices & Equipment, Fiber Optic Devices, and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Telecom Electronic Manufacturing Services Market will Hit USD 331.5 Billion by 2030, at a CAGR of 7.3%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Flex Ltd, Jabil, Inc., Plexus Corporation, Benchmark Electronics, Inc., Celestica, Inc., Compal Electronics, Inc., Creation Technologies LP, Hon Hai Precision Industry Co., Ltd., Venture Corporation Limited and Sanmina Corporation
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