April 16, 2025, Nevada City, California – Manufacturing Market Insider (MMI) announces that the Top 50 EMS companies worldwide grew 12.7 percent in 2024 to reach a total of $477 billion in revenue.
This result was a remarkable turnaround after one of the biggest downturns in EMS history in 2023. As in the past, the top-tier suppliers benefited the most, with companies like EMS giants Hon Hai Precision Industry (Foxconn), BYD Electronics, and Celestica achieving the most positive gains. Other suppliers like Pegatron, Jabil, Sanmina, USI, and Flex, experienced double-digit revenue losses in 2024. This means that the mid-tier EMS firms like DBG, Dixon Technologies, Fabrinet, and Cyient were left to pick up the slack and propel the overall positive result.
Overall, the APAC region accounted for around 80.9 percent of the Top 50 EMS revenue, while the Americas accounted for 17.1 percent and EMEA for 2.0 percent. APAC achieved 20.0 percent revenue growth in 2024 while EMEA and Americas lost market share by growing -5.6 percent and -10.9 percent, respectively. It took a minimum of $521 million in sales to make the Top 50—an increase of $87 million in revenue.
For 2024, the top 10 EMS companies accounted for 87.6 percent of Top 50 sales, down from 88.7 percent in 2023, illustrating that the EMS industry remains top-heavy. The bottom 40 together produced a good 15.8 percent growth rate, increasing to $75.4 billion in 2024. The growth rates of the Top 50 are a proxy for the rest of the industry, as this group usually accounts for approximately 85–90 percent of total industry revenue.
In addition to ranking providers by 2024 sales, the MMI Top 50 listing includes sales growth, previous rank, number of employees, number of plants, facility space, number of SMT lines, and customer data. This special data was published in the March 2025 edition of MMI, and in April the newsletter will include market segmentation data obtained from the MMI survey. Contact the publisher for the purchase of individual reports.
MMI is a monthly newsletter specializing in the EMS (electronics manufacturing services) industry, and tabulates its ranking information through an annual survey of over 100 of the largest EMS companies worldwide. Founded in 1990, MMI is a division of New Venture Research Corp. For more information, please see www.mfgmkt.com/.
