I’m never surprised to watch and see the ongoing trends and developments in the technology space today. Wherever I look, I tend to see the sprouting of new companies and products related to the design, manufacturing, and distribution of electronics. It’s never been better. However, I believe the progress hasn’t reached the ceiling yet. I noticed some tell-tale signs that point to the electronic manufacturing industry going to greater heights in 2019.
The following are signs of why I think the Electronics manufacturing Industry will flourish in 2019.
Strategic Building of OEM Partnerships
The pieces have been set. Highly specialized electronics manufacturing companies are on standby waiting for those innovative designs to be picked up by distributors. OEM (Original Equipment Manufacturer) partnerships have started to pick up steam in the past couple of years. This 2019, it looks like it’ll get even hotter.
Developments in the digital space have enabled companies from different corners of the world to establish connectivity and eventually partnerships in the production of electronic products and equipment. Different cloud-based platforms and services are now readily available wherein OEM agreements are made and done.
Continuous Demand for Smart Devices and Printed Circuit Boards
The demand for electronic devices will be much greater this year. The 2018 numbers of electronic devices sales have surpassed the numbers of the previous year. With the fact that some areas in the electronic manufacturing industry show the need to outsource the design, manufacturing, and assembly of PCBs.
On the other side of the world, countries in Asia, Africa, and other parts of Europe and South America have shown some significant numbers in terms of demand for electronic products. The need for businesses to grow and expand also indicate the necessity to upgrade their technology.
The demand is exclusive of new products and IPs that are currently in development. That’s how promising it is.
Emerging Need from Other Sectors
The market opportunities for the players in the electronic manufacturing industry is truly amazing. The needs of new products from old and current sectors like the information and entertainment industries never stops. At the same time, new sectors like the medical, security, and agricultural industries are leading examples of emerging markets.
Watch out for the announcement of new products and IPs from these sectors this year.
Outsourcing of Product Design Has Become a Trend
The need to outsource product development has hit the electronics manufacturing industry. The competition has become stiffer and the prices have become more competitive. In addition, the load of demands can also be overwhelming for small to medium-sized manufacturing companies. The need to outsource production is inevitable. Time is of the essence and things just need to get done.
This is the main reason why most companies tend to outsource the manufacturing of parts, components, and PCBs to other companies. On the other hand, some companies are just as happy to produce prototypes and generic products as the demand and profit are still as good as those with brands.
2019 is sets to be the biggest year in the electronic manufacturing industry. There seems to be no slowing down in the demand for products and associated applications. The problem is not where to find the market but how to fill in with the needs of the consumers.
The electronic manufacturing space is now an established ecosystem. A world of interconnecting pieces that are hurdling to face the demands of the consumer.