Electronic Manufacturing Software Market: Exploring the Opportunities

Electronics manufacturing software is a set of tools utilized by manufacturers to execute, plan, and report on the production of electronic goods. The software is helpful in boosting efficiency and aligning teams to enable total control and visibility.

Challenges faced by electronics manufacturers:

• Maintaining sales, estimating exact production
• Maintaining inventory
• Quality testing of the raw materials for carrying out the production
• Adoption of the latest market trends

Some of the common features of software for this application:

• Supply chain management: This feature is helpful to get transparency into suppliers’ systems. Some of the tasks which come under this are:
  • Order status
  • Supplier inventory
  • Current pricing
  • Order entry and Payment
• Reporting of process planning: This feature is helpful in tracking the development of the process plan for each product.
• Planning for a material supplier: The material supplier planning assigns a bill of all the requirements to each subassembly. The feature also allows one to make decisions based on the current market prices for materials for each product.
• Substitution of the component: The feature is helpful if the preferred component is not available, also the inventory system provides alternative components.
• Planning of workload: The workers are able to adjust the workload according to the preference of the worker.
• Management of engineering change: The system is able to track engineering changes and their impact on manufacturing time and cost per unit. It is very convenient to enter the changes into the system so that the changes can flow to the other products.
• Serial number management: The serial number must be linked to the specific products and these numbers must be tied to production.
• EPA compliance reporting: The electronics manufacturers are subject to the EPA mandatory greenhouse gas reporting rule.
• Management of certified designs: If the manufacturer is producing certified electronics, the software has compliance reports for the authority.
• Recall management: The system also supports a product recall feature in which the owner identifies which customers have received the articles.
• Scrap management: The software has a scrap management function that helps the electronic manufacturing industries from the bloating of scrap. With the use of this feature, waste materials are moved to a separate location.
• Insights of holistic business operations: Parameters such as sales, customer relations, human resources, accounting, items purchased, items received, items delivered, etc. are integrated by the software.

In more simple terms, the software is taking charge of the following parameters:

Inventory control ➤ Management of bills ➤ Production planning and scheduling ➤ Capacity planning ➤ Procurement management ➤ Work order management ➤ Reporting & analytics

The electronics manufacturing software market offers services and products in an array of industries

Electronic Manufacturing Software Market:

The electronics manufacturing software market garnered a value of around USD 570 billion in the year 2023 and is expected to garner USD 900 billion by the year 2030, registering a CAGR of 8.9%. The market is anticipated to grow on the back of factors such as:

• Rising miniaturization and adoption of emerging technologies
• The demand for electronic devices continues to rise
• The rising demand for outsourcing
• Exponentially increasing government aid in the domain

The Asia Pacific region is anticipated to hold remarkable growth during the forecast period. India and China have strong market strength globally. The market in consumer electronics, semiconductor, and other telecommunication devices are rising in the region. For instance, in India, Tata Group recently announced plans to enter the semiconductor manufacturing business. Secondly, there is the rollout of 5G technology which is also responsible for the rising market growth.

The leading companies in the electronics manufacturing services market are Vinatronic Inc, Benchmark Electronics Inc, Hon Hai Precision Industry Co. Ltd, Flex Ltd, Sanmina Corporation, etc.

In a nutshell,

It is evident that the electronics manufacturing software market is flourishing.

Source:

https://www.researchnester.com/reports/electronic-manufacturing-software-market/2458