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Semiconductor Market size is set to grow by USD 112.8 billion from 2024-2028, Growing adoption of IoT devices to boost the market growth, Technavio

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NEW YORK, July 2, 2024 /PRNewswire/ — The global semiconductor market  size is estimated to grow by USD 112.8 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 3.42%  during the forecast period.  Growing adoption of IoT devices is driving market growth, with a trend towards increasing adoption of sustainability manufacturing. However, supply-demand gap in semiconductor industry  poses a challenge. Key market players include Analog Devices Inc., Broadcom Inc., Infineon Technologies AG, Intel Corp., MediaTek Inc., Microchip Technology Inc., Micron Technology Inc., NVIDIA Corp., NXP Semiconductors NV, ON Semiconductor Corp., Qualcomm Inc., Renesas Electronics Corp., Samsung Electronics Co. Ltd., Skyworks Solutions Inc., Sony Group Corp., STMicroelectronics International N.V., Taiwan Semiconductor Manufacturing Co. Ltd., Texas Instruments Inc., Toshiba Corp., and Wolfspeed Inc..

Get a detailed analysis on regions, market segments, customer landscape, and companies – Click for the snapshot of this report

Forecast period

2024-2028

Base Year

2023

Historic Data

2018 – 2022

Segment Covered

Application (Networking and communication, Data processing, Industrial, Consumer electronics, and Others), Product (ICs, Optoelectronics, Discrete semiconductors, and Sensors), and Geography (APAC, North America, Europe, South America, and Middle East and Africa)

Region Covered

APAC, North America, Europe, South America, and Middle East and Africa

Key companies profiled

Analog Devices Inc., Broadcom Inc., Infineon Technologies AG, Intel Corp., MediaTek Inc., Microchip Technology Inc., Micron Technology Inc., NVIDIA Corp., NXP Semiconductors NV, ON Semiconductor Corp., Qualcomm Inc., Renesas Electronics Corp., Samsung Electronics Co. Ltd., Skyworks Solutions Inc., Sony Group Corp., STMicroelectronics International N.V., Taiwan Semiconductor Manufacturing Co. Ltd., Texas Instruments Inc., Toshiba Corp., and Wolfspeed Inc.

 

Key Market Trends Fueling Growth

The semiconductor industry requires significant energy and water resources, with a single fabrication plant consuming approximately 1 terawatt-hour of energy annually and two-to-four million gallons of ultra-pure water daily. The increasing demand for semiconductors, driven by emerging technologies like 5G, AI, and IoT, necessitates production growth. Industry leaders, such as TSMC and Intel, are addressing sustainability concerns through water recycling, diverse water sources, and pollution prevention. By 2030, Intel aims to conserve 60 billion gallons of water and 4 billion kWh of energy, while using 100% renewable energy. Vendors’ sustainability efforts enhance their brand image, contributing to the global semiconductor market’s growth. 

The semiconductor market is experiencing significant growth with the increasing adoption of technology in various industries. The demand for advanced technologies such as Artificial Intelligence, Machine Learning, and Internet of Things (IoT) is driving the market. The automotive industry is also a major contributor, with the integration of semiconductors in electric vehicles and autonomous driving systems. The market is competitive with players like Powerexpress, Mosfet, and Discreteset producing and supplying semiconductors. The trend towards miniaturization and higher performance is leading to the development of new technologies like 5G and SUPPLY-chain management is crucial for companies to meet the growing demand. The semiconductor market is expected to continue its upward trajectory in the coming years. 

Research report provides comprehensive data on impact of trend. For more details- Download a Sample Report

Market Challenges

The semiconductor industry faces challenges due to high demand for chips in sectors like IoT, AI, data centers, and smart technologies. This demand exceeds supply, causing price increases and longer lead times for manufacturers. Transitions to advanced manufacturing nodes bring production challenges and yield issues, widening the supply-demand gap. These factors may impact the semiconductor market’s growth during the forecast period.The semiconductor market faces several challenges in the present scenario. The increasing complexity of semiconductor designs calls for advanced manufacturing processes and technologies. The cost of research and development is high, and the competition is intense. The demand for smaller, faster, and more energy-efficient chips is driving innovation. However, the market is also affected by economic and geopolitical factors, such as trade policies and supply chain disruptions. The semiconductor industry must adapt to these challenges to remain competitive and meet the evolving needs of consumers and businesses. The use of automation and digitalization can help improve efficiency and reduce costs. Collaboration and partnerships can also help share risks and resources. The semiconductor market is dynamic and requires continuous innovation and investment to stay ahead.

For more insights on driver and challenges – Download a Sample Report

Segment Overview 

This semiconductor market report extensively covers market segmentation by

Application 1.1 Networking and communication1.2 Data processing1.3 Industrial1.4 Consumer electronics1.5 OthersProduct 2.1 ICs2.2 Optoelectronics2.3 Discrete semiconductors2.4 SensorsGeography 3.1 APAC3.2 North America3.3 Europe3.4 South America3.5 Middle East and Africa

1.1 Networking and communication-  The networking and communication segment is a major sector in the global semiconductor market, driven by the increasing demand for efficient communication solutions. This segment includes semiconductor devices and components used in various communication technologies and networking infrastructures. The rollout of 5G technology and the growth of IoT devices are key factors fueling this demand. Semiconductor solutions support high-speed data transmission, energy efficiency, and wireless connectivity for these applications. The increasing popularity of data-intensive activities like video streaming and online gaming further boosts the need for advanced semiconductor technologies. As a result, the networking and communication segment of the semiconductor market is expected to experience significant growth during the forecast period.

For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2018 – 2022)  – Download a Sample Report

Research Analysis

The semiconductor market is experiencing significant progress and breakthroughs in contemporary technology, driven by the integration of artificial intelligence (AI) and the Internet of Things (IoT). Machine learning algorithms are being employed in B2B, B2G, and B2C enterprises to optimize inventories, improve fab utilization, and enhance profitability. IDC reports that the global semiconductor market is expected to grow, fueled by the demand for memory chips in PC sales, smartphones, communication devices, data center chips, and various semiconductor devices. The semiconductor industry association anticipates subsequent technologies, such as VAT, Spring, and advanced computer chips, to further propel market growth. Electronic components and semiconducting materials, including transistors and diodes, continue to be essential building blocks in this dynamic industry.

Learn and explore more about Technavio’s in-depth research reports

The global Front End of the Line Semiconductor Equipment Market is experiencing robust growth due to the increasing demand for advanced semiconductors in various industries. Concurrently, the global Semiconductor IP Market is expanding, driven by the need for efficient and cost-effective semiconductor design solutions. Additionally, the Magneto Resistive RAM (MRAM) Market is gaining traction as MRAM technology offers significant advantages in terms of speed, endurance, and power efficiency. These trends highlight the dynamic nature of the semiconductor industry, underscoring the critical role of innovative technologies in shaping the future of electronics.

Market Research Overview

The Semiconductor Market encompasses the design, manufacturing, and sale of various types of semiconductor components, including microprocessors, memory chips, sensors, and other electronic components. These semiconductors are integral to numerous industries, such as consumer electronics, automotive, healthcare, and telecommunications. The market is driven by factors like increasing demand for miniaturization, automation, and connectivity in various sectors. Additionally, advancements in technology, such as the Internet of Things (IoT), artificial intelligence (AI), and 5G networks, are fueling the growth of the semiconductor industry. Semiconductors are also essential for power electronics, renewable energy systems, and electric vehicles, further expanding the market’s scope. The semiconductor industry is characterized by continuous innovation, intense competition, and rapid technological advancements.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ApplicationNetworking And CommunicationData ProcessingIndustrialConsumer ElectronicsOthersProductICsOptoelectronicsDiscrete SemiconductorsSensorsGeographyAPACNorth AmericaEuropeSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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Higer New V Series, Leading Bus New Trend

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SUZHOU, China, Dec. 24, 2024 /CNW/ — In November 2024, Higer New V Series buses officially launched in the Philippines, this batch of electric buses was the first batch of new energy buses introduced by the Philippines and put into commercial operation. And it has aroused extensive attentions and heated discussions from the Philippines local government, media and people.

Higer New V Series products were launched globally in March 2024, and then made a stunning debut at the Higer Global Partners Conference. The New V-series products with a new shape and a new platform are committed to creating new classic models with high quality, high safety and high intelligence.

In 3 years, more than 1000 people participated in the process of R&D, a one-time investment of more than 100 million yuan was made in the R&D and manufacturing of key components, equipment, tooling, molds, inspection tools, verification of components and vehicle, achieving comprehensive innovation, realizing a significant improvement in product quality and reliability, maintenance convenience and customer experience. Measuring from 8 to 13 meters in length, they can be powered by fossil fuels, electricity, hydrogen, etc. and are readily adaptable for the tourist transportation market, urban public transportation market, etc. The luggage compartment volume is 21.6% greater than similar products, the seating space is 50mm larger, and the middle aisle is 30mm wider. The overall component universality rate was greatly improved by the platform, modular, and universal design concept, and the number of component types decreased by 58%.

It is worth mentioning that Higer is committed to creating a technological experience, redefining the domain-centralized electronic and electrical architecture, and Higer launched the industry’s first mass-produced intelligent cabin. It will help the driver concentrate on driving. The new model provides a mobile phone control interface, drivers and tour guides can control lighting, multimedia, air conditioning, etc. through app. In addition, the intelligent cabin can be customized according to the operational needs of the transport company, realizing intelligent dispatching, intelligent charging, intelligent maintenance, AI interaction, and human-computer interaction.

So far, Higer new V series coaches have already received orders from more than 20 countries like Italy, Qatar, UAE, Saudi Arabia, Algeria and etc., showing a fast rising popularity in the international market.

Higer new V series are committed to providing customers with new “classic models” with better quality, higher efficiency, achieving sustainable development and exploring more possibilities.

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SOURCE HIGER

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European Wellness Biomedical Group Announces New Klotho Research Initiative Led by Prof. Mike Chan

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HEIDELBERG, Germany, Dec. 25, 2024 /PRNewswire/ — European Wellness Biomedical Group (EWBG) has launched a new research initiative focused on Klotho, a protein with transformative potential in longevity medicine. Led by Professor Dr. Mike Chan, this project will explore Klotho’s role in combating age-related diseases and its ability to regenerate critical organs, including the brain, kidneys, and heart.

Klotho, identified in 1997, is emerging as a key protein in longevity and regenerative medicine. It plays a pivotal role in regulating oxidative stress, mineral metabolism, and inflammation. The research will investigate how boosting Klotho levels could help address chronic conditions like neurodegenerative diseases, kidney failure, and heart disease, ultimately improving healthspan and extending lifespan.

“Klotho represents the next frontier in longevity medicine,” said Professor Mike Chan, Chief Scientist at EWBG. “Our research aims to understand how Klotho affects aging and how we can use it to treat chronic diseases that have long been associated with aging.”

Research Focus Areas

The new initiative will focus on three primary research areas:

Neurological health: Investigating Klotho’s neuroprotective effects and its potential to slow cognitive decline in diseases like Alzheimer’s and Parkinson’s.Kidney function: Examining Klotho’s role in regulating mineral metabolism and its regenerative potential in treating chronic kidney disease (CKD).Cardiovascular health: Studying Klotho’s influence on vascular function and its ability to prevent vascular calcification, a key contributor to heart disease.

This research builds on existing collaborations at EWBG, where leading scientists focus on advancing Klotho-based therapies for regenerative health.

Klotho: A Potential Breakthrough in Longevity Medicine

Klotho is gaining attention for its ability to regenerate tissues and reverse damage caused by age-related diseases. Unlike NAD+, which primarily enhances cellular metabolism and energy production, Klotho offers a broader range of therapeutic applications, including tissue regeneration, cognitive function improvement, and cardiovascular health.

As we age, Klotho levels naturally decline, leading to conditions such as cognitive decline, heart disease, and kidney failure. Research suggests that restoring Klotho levels can reverse the effects of oxidative stress, inflammation, and cellular senescence, offering new treatment possibilities for a range of age-related diseases.

Professor Mike Chan: Leading the Charge in Klotho Research

Professor Mike Chan, a leading expert in stem cell therapy and longevity medicine, is spearheading this groundbreaking initiative at EWBG. His extensive experience in bio-regenerative medicine positions him as a key figure in exploring Klotho’s potential to revolutionize the treatment of age-related diseases. Through FCTI, a subsidiary of EWBG, Professor Chan and his team are developing therapies that combine stem cell technology and Klotho proteins to stimulate tissue regeneration in the brain, kidneys, and heart.

“By harnessing Klotho’s regenerative properties, we hope to address chronic conditions that were previously untreatable,” said Professor Chan. “Our ultimate goal is to improve quality of life and provide lasting solutions for those affected by aging-related diseases.”

The Future of Klotho in Longevity Medicine

The future of Klotho-based therapies looks promising, with Professor Mike Chan and EWBG at the forefront of this innovative field. As more research is conducted, Klotho is expected to play a pivotal role in advancing longevity medicine, offering a new approach to treating aging and chronic diseases. The potential applications of Klotho are vast, from neurodegenerative disease treatment to kidney regeneration and cardiovascular health.

With strong research partnerships, significant funding, and ongoing clinical trials, Klotho is poised to become a cornerstone of longevity medicine, transforming how we approach aging and disease. Professor Mike Chan’s leadership ensures that this promising protein will soon offer new hope to those seeking longer, healthier lives.

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Apas Port Launches $20M Vehicle Loan Initiative with HARVEST FLOW on Plume Network to Empower Financial Inclusion in Emerging Countries, Starting in Cambodia

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NEW YORK, Dec. 24, 2024 /PRNewswire/ — Apas Port Co., Ltd., a Tokyo-based Web3 company dedicated to deploying “kando”—a Japanese term for deep emotional engagement—into the digital realm, has announced the launch of HARVEST FLOW, a social impact-driven cryptocurrency lending platform. Committed to “social action”ーdelivering stable returns alongside meaningful social impact, HARVEST FLOW’s inaugural project is a $20 million initiative offering loans to TukTuk and four-wheel vehicle drivers in Cambodia who don’t have access to the financial system. This venture is set to operate on Plume Network, the leading Layer 1 blockchain specialized in Real-World Asset Finance (RWAfi), offering the necessary infrastructure to transform HARVEST FLOW’s vision of financial inclusion into scalable action.

Bridging Real-World Challenges Through Blockchain Innovation

HARVEST FLOW’s mission is to empower underserved communities and small businesses by granting access to affordable financing solutions. By leveraging blockchain technology, the platform addresses critical societal issues such as poverty alleviation and economic development, creating pathways for stable financial growth while delivering measurable social impact.

The initial focus of this initiative is to provide affordable financing options for TukTuk and four-wheel vehicle drivers in Cambodia—vital tools for local livelihoods. The project not only supports job creation but also enhances financial inclusion in emerging economies.

Why Plume Network?

As the first fully integrated L1 modular blockchain tailored for RWAfi, Plume Network provides the foundation for scalable, secure, and transparent financial ecosystems. With over 180 projects onboarded in its private devnet, Plume enables seamless tokenization and distribution of RWAs through its composable, EVM-compatible infrastructure.

How Plume Powers HARVEST FLOW:

End-to-End Tokenization: Streamlines the conversion of vehicle loans into blockchain-based assets.Investor Transparency: Advanced tools to track and visualize the social and financial impact of investments.Global Scalability: Infrastructure designed to handle the growing demands of HARVEST FLOW’s multi-region projects.DeFi Integration: Unlocks liquidity through decentralized finance primitives within the Plume ecosystem.

IoT-Backed Innovation for Loan Security

HARVEST FLOW’s projects are uniquely supported by embedded IoT technology within TukTuk engines, ensuring an exceptionally low loan default rate while building investor confidence.

Justin Chen, Head of Asset Strategy at Plume Network, noted: “This project highlights the power of combining blockchain and IoT devices to create innovative financial products that drive real-world impact. We’re excited to see HARVEST FLOW’s success on Plume and the positive change it will bring to the urban motility market in Southeast Asia.”

Looking Ahead

Starting with the vehicle mobility sector through 2025, HARVEST FLOW plans to expand into other sectors addressing social challenges and needs beyond 2026. This approach aims to ensure sustainable growth while delivering meaningful societal benefits, powered by Plume’s blockchain technology.

Masaki Minamide, director of HARVEST FLOW, stated: “Plume’s infrastructure empowers us to amplify our impact and support communities in need while offering our investors transparent and reliable returns. With this launch, we continue our mission to combine blockchain technology with meaningful social action.”

For more information, visit Plume Network or contact press@plumenetwork.xyz.

About Plume Network
Plume is the first fully integrated L1 modular blockchain focused on RWAfi, offering a composable, EVM-compatible environment for onboarding and managing diverse RWAs. With 180+ projects on its private devnet, Plume provides an end-to-end tokenization engine and a network of financial infrastructure partners, simplifying asset onboarding and enabling seamless DeFi integration for RWAs.

About HARVEST FLOW
Founded in April 2023, Apas Port Co., Ltd. is a Web3 production company with a mission to deploy “kando” (deep emotional impact) globally. The company leverages blockchain technology to connect carefully curated content with a co-creative community, acting as a “passport” to a new world of Web3 experiences.

X: https://x.com/HarvestFlow_io
Website: https://www.harvestflow.io/

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SOURCE Plume Network

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