Consumer goods industry is one of the largest and also the fastest growing industry all over the world. Consumers nowadays have clear and distinct taste and require products that are made with their tastes in mind. More and more companies and organizations are entering the field of manufacturing consumer goods and services so that they can capture at least some share of the huge market that they have in front of them.
Rising incomes of the consumer has also been a major motivating factor for these companies to enter the segment of consumer product manufacturing as the consumers will now be willing to spend more on improving their quality of life and lifestyle by using more of the products that are being produced by the industry though it might form a part of the luxury segments. Electronic manufacturing services are that term that is used to describe the companies that are involves in this process. The process is huge and it involves the research process, designing, manufacturing, development, testing, marketing and distribution and also providing after sales services of electronic components. The companies that indulge in providing all these varies services to their consumers fall under the category of the Electronic manufacturing services which is also referred to as Electronic contract manufacturing.
Market for Electronic consumer goods:
Electronic Consumer goods involve a host of products that are produced to achieve mainly two things – one is where to provide the consumer with the basic goods and services that is necessary to carry out the various activities in their daily life and two – is to provide and produce such kind of products that can give the ultimate level of comfort and satisfaction to the consumers. The products that are produced are highly specialized and designed to ease the various processes and manual and routine work that is carried out. Most of the electronic goods and components are manufactured in china. China is the hub for the manufacturing of almost all electronic goods. The main reason for this is because of the availability of raw materials required at cheap costs and also the abundance of both skilled and unskilled labor at wage rates that are extremely profitable to the manufacturer. USA also has a manufacturing hub however this is way more expensive than the products that are manufactured in China or for that matter, in any other Asian country as well.
The Electronic Manufacturing Services Market is a huge arena that has a variety of sub segments within it and the market is also constantly growing to rising population and income levels throughout the world.