Driven by the pandemic’s increasing demand for consumer electronics, such as home entertainment and remote working, the worldwide electronics market has been growing favorably since the middle of 2020. Specifically, as per Graphical Research, the Asia Pacific consumer electronics market size surpassed USD 400 billion in 2022 and is projected to witness a 9% CAGR between 2022 and 2027. Rapid urbanization and industrialization have improved Asia Pacific’s economic circumstances, and a quick change in their economies and overall GDP growth was seen in some of the region’s developing nations. As a result, the demand for luxury goods and high-end technologies has increased manifold.
Significant technological advancements, such as the introduction of 5G over the next five years, fuel demand for 5G mobile phones and further bolster the outlook for electronics demand. With the aid of Industry 4.0, the need for industrial electronics is predicted to expand quickly over the next few years due to the Internet of Things and industrial automation. Production of strategic electronics has seen increased competition among the top technological nations. As a result, strategic international competition amongst the world’s leading high-technology countries will probably become more important in changing the global electronics sector during the coming period.
This edition of Manufacturing Technology Insights features “Top 10 Electronics Manufacturing Services Companies in APAC - 2022,” and brings the spotlight onto some of the key developments in the space and how companies are leveraging electronics manufacturing services to boost their growth. The magazine highlights companies like SESUNG, a leading South Korean EMS provider rising to the occasion with its all-in-one manufacturing services, from new product introduction (NPI) to manufacturing, including precision machining, mold and injection services, and inventory management.
The magazine also introduces thought leadership articles from Andy R. Wiseman, Senior Director of Advanced Manufacturing Engineering and Technology, Valmont Industries & Wilbertus Darmadi, CIO, Toyota Astra Motor, among others, who have imparted their opinions on how electronics manufacturing services can help businesses to attain further innovation and growth.
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