SELBYVILLE, DE – The worldwide market for electronics manufacturing services is expected to grow at a CAGR of roughly 4.1% over the next five years, reaching $55 billion in 2024, says Market Study Report.

IT infrastructure, with data center or cloud computing services as the core, will constitute the biggest driving force.

In 2017, thanks to a surge in shipments of mobile phone vendors such as Apple, Huawei and Xiaomi, the EMS market rose 5.2%, says the research firm. The growth in mobile phones offset the drop in notebook computers.

Taiwanese server EMS vendors have a global market share of over 90%, according to Market Study Report. However, the European and US EMS vendors are dedicated to improving profitability by reducing the revenue proportion of telecom and communication infrastructure, and intensifying the expansion to industrial, medical, and automotive sectors.