NEW YORK – The electronics manufacturing services market is expected to exceed more than $675 billion by 2024, a CAGR of 7.5%, says Market Research Engine.

Driving factors include rising demand for automotive and consumer electronics; advanced skill and focus on core competencies, and proliferation of mobile devices.

Restraining factors are violation of intellectual property rights; stringent government and environment regulations, and intense competition.

According to the research firm, major opportunities for the EMS market include rising demand for consumer electronics in both developed and developing nations and innovative technological advancements.