A Strong 2023 for Contract Manufacturing Activities - But What Will 2024 Hold?

07 March 2024

Research conducted by industry data provider in4ma, in association with sponsor IPC Electronics Europe, shows that the electronics manufacturing services (EMS) sector in Europe grew by a not too shabby 11% during 2023. However, the projection is for there to be a shrink of around 1% this year.

According to the in4ma study, which gained data from 306 legal entities involved in EMS work, 81% of them witnessed higher revenues in 2023 than 2022. Also, employment in the EMS industry throughout the continent increased by approximately 5.9%. Printed circuit board assembly (PCBA) production undertaken by EMS companies reached a new high - generating Euro 57.3 billion in revenues over that 12 month period. The study also states that, given the tough landscape ahead, further market consolidation seems likely during the course of 2024 - with strong merger and acquisition (M&A) activity expected.

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