Manufacturing Market Insider (MMI) reported that the world’s 50 largest electronics manufacturing services providers recorded a combined $417 billion in sales in 2021. MMI published the historical ranking in 2022; the figure is not a current market total.
What the $417 billion figure measures
The $417 billion is the combined 2021 sales figure for the providers in MMI’s Top 50 electronics manufacturing services (EMS) ranking. MMI said that total was $38 billion higher than in 2020, a 9.9% increase.
EMS companies manufacture, assemble, or provide related services for electronic products on behalf of other businesses. The ranking therefore covers a segment of the electronics supply chain, not all electronics sales or all manufacturing activity.
How MMI compiled the ranking
Manufacturing Market Insider is a monthly newsletter focused on the EMS industry and a division of New Venture Research Corp. MMI said it compiled the Top 50 from an annual survey of more than 100 of the largest EMS companies worldwide. For international currency conversions, it used average annual exchange rates established by the U.S. Federal Reserve.
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MMI’s description does not specify survey response rates, independent audits, or how it reconciled differences in companies’ revenue definitions. The ranking is best read as an industry-publisher survey-based comparison, rather than as an independently audited accounting of the sector.
Regional distribution of 2021 Top 50 revenue
MMI reported the following shares of Top 50 revenue by region. The percentages are rounded.
| Region | Share of Top 50 revenue |
|---|---|
| Asia-Pacific | 82.0% |
| Americas | 16.0% |
| Europe, Middle East and Africa (EMEA) | 1.9% |
Because the shares are rounded, they do not add to exactly 100%. They describe the revenue distribution within MMI’s ranked group, not the geographic split of the entire electronics industry.
Examples of company growth in the ranking
MMI’s 2022 account reported different year-over-year results among individual providers:
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- BYD Electronics: sales growth of 35.5% from 2020 to 2021.
- Flex: sales growth of -1.8% over the same period.
- Foxconn: sales growth of 10.9%; it accounted for 48% of revenue among the top ten providers.
These examples show why the combined increase does not mean every provider grew. They are selected figures, not a complete company-by-company account.
What the ranking can tell readers
MMI’s ranking included more than sales totals. Its recorded comparison points included prior rank, employee count, number of plants, total facility space, floor space in low-cost regions, number of surface-mount technology (SMT) lines, and customer data. MMI said this special data appeared in its March 2022 issue and that market-segmentation data from the survey was expected in April.
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Those measures offer different ways to compare providers: sales and growth indicate scale and momentum, while workforce, plants, facility area, low-cost-region capacity, and SMT lines describe aspects of operating footprint. Customer and market data add context to whom providers serve. The published account does not include a complete provider-by-provider table, so detailed comparisons require the underlying ranking.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.Industry context—and what it does not prove
MMI described demand for communications equipment and computer replacements or upgrades, as well as demand for medical equipment and automotive products amid interest in electric vehicles, as market context. The account does not quantify how much any of these factors contributed to the $417 billion total or to the reported growth.
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The ranking is historical: its sales, growth, and regional figures refer to 2021 and were published in 2022. They should not be treated as 2026 results or as a current measure of EMS market size; that requires a newer edition of the ranking.
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