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The automotive semiconductor market is projected to grow by USD 31.29 Billion from 2024-2028, with AI driving transformation and rising ADAS adoption boosting growth – Technavio

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NEW YORK, Sept. 25, 2024 /PRNewswire/ — Report with the AI impact on market trends – The Global Automotive Semiconductor Market size is estimated to grow by USD 31289.7 mn from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  9.45%  during the forecast period. Rising adoption of advanced driver assistance system adas features in vehicles is driving market growth, with a trend towards increasing developments in semi-autonomous and autonomous vehicles  However, lack of standard protocols  poses a challenge – Key market players include Allegro MicroSystems Inc., Analog Devices Inc., BorgWarner Inc., Continental AG, DENSO Corp., Elmos Semiconductor AG, Infineon Technologies AG, Intel Corp., Microchip Technology Inc., Micron Technology Inc., NXP Semiconductors NV, ON Semiconductor Corp., Qualcomm Inc., Renesas Electronics Corp., Robert Bosch GmbH, ROHM Co. Ltd., Samsung Electronics Co. Ltd., STMicroelectronics International N.V., Texas Instruments Inc., and Toshiba Corp..

Key insights into market evolution with AI-powered analysis. Explore trends, segmentation, and growth drivers- View the snapshot of this report

Automotive Semiconductor Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 9.45%

Market growth 2024-2028

USD 31289.7 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

8.42

Regional analysis

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

Performing market contribution

APAC at 64%

Key countries

China, US, Japan, South Korea, and Germany

Key companies profiled

Allegro MicroSystems Inc., Analog Devices Inc., BorgWarner Inc., Continental AG, DENSO Corp., Elmos Semiconductor AG, Infineon Technologies AG, Intel Corp., Microchip Technology Inc., Micron Technology Inc., NXP Semiconductors NV, ON Semiconductor Corp., Qualcomm Inc., Renesas Electronics Corp., Robert Bosch GmbH, ROHM Co. Ltd., Samsung Electronics Co. Ltd., STMicroelectronics International N.V., Texas Instruments Inc., and Toshiba Corp.

Market Driver

The automotive semiconductor market is experiencing significant growth due to the integration of advanced technologies in self-driving cars. These vehicles, also known as autonomous or driverless cars, use sensors and processors to read and interpret the environment, enabling minimal human intervention. Companies are investing heavily in sensor-processing technologies, superior quality planning, adaptive algorithms, and communication technologies to expand production capacities and enhance vehicle automation. The adoption of autonomous vehicles is projected to decrease operating costs, increase travel convenience, and encourage long-distance commutes, making it a key market driver during the forecast period. 

The Automotive Semiconductor Market is experiencing significant growth due to increasing demand for integrated electronics in motor vehicles. Power devices and Logic ICs are popular semiconductor types used in gasoline-powered engines and vehicle electrification. Connectivity devices, including cell phones and GPS receivers, are driving the demand for telematics and infotainment systems in passenger cars, sedans, hatchbacks, vans, and commercial vehicles. Semiconductor content in automobile production units is increasing due to advanced safety systems, comfort features, and vehicle diagnostics. Vehicle production is also adopting semiconductor technology for telematics, location tracking, job dispatch, and vehicle diagnostics. The market includes Electric Vehicles, Hybrid Electric Vehicles, Solar-powered vehicles, Electric Cars, Electric Vans, and Battery Electric Vehicles. Semiconductor technology plays a crucial role in vehicle electrification and the development of advanced safety and comfort systems. 

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Market Challenges

The automotive semiconductor market faces significant challenges due to the absence of standardized protocols in the industry. Regulations governing vehicle production impact both new and existing products, with various governmental standards dictating safety, theft prevention, and environmental impact. These regulations vary by country or region, requiring automakers to adapt their production processes to meet different market requirements. This results in financial losses as companies must establish separate assembly units to meet these diverse standards. For instance, vehicles in Asia are predominantly right-hand drive, while those in North America are left-hand drive. The constantly evolving regulations pose a major challenge to the expansion of the global automotive semiconductor market during the forecast period.The automotive semiconductor market is experiencing significant growth due to the increasing use of integrated electronics in motor vehicles. Semiconductor content in vehicles is on the rise, driven by trends like vehicle electrification, advanced safety systems, comfort systems, and telematics. Electric vehicles (EVs), hybrid electric vehicles (HEVs), solar-powered vehicles, electric cars, and electric vans are leading the charge in this area. However, challenges remain. Power electronics for EVs and HEVs require high accuracy and reliability. Advanced sensors, such as radar, LiDAR, and image sensors, must be secure against spoofing, evasion attacks, and poisoning. Environmental concerns, including emission norms and harmful exhaust emissions, also necessitate the use of emission control devices. The premium segment cars and luxury components are also driving demand for advanced semiconductor technology. Power electronics, microprocessors, cable harnesses, network systems, and analog ICs are essential components in this space. As the industry moves towards autonomous cars, security and reliability will be paramount. The future of automotive semiconductors is bright, with Tesla and other industry leaders pushing the boundaries of what’s possible.

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Segment Overview 

This automotive semiconductor market report extensively covers market segmentation by

Application 1.1 Telematics and infotainment1.2 Powertrain1.3 Safety1.4 Body electronics1.5 ChassisVehicle Type2.1 Passenger vehicle2.2 Light commercial vehicle2.3 Heavy commercial vehicleGeography 3.1 APAC3.2 North America3.3 Europe3.4 South America3.5 Middle East and Africa

1.1 Telematics and infotainment-  The automotive semiconductor market is experiencing significant growth due to increasing demand for advanced driver assistance systems (ADAS) and electric vehicles (EVs). Automakers are integrating more semiconductors into their vehicles to enhance safety features and improve fuel efficiency. Major players in the market include Infineon Technologies AG, NXP Semiconductors, and Texas Instruments Incorporated. These companies are investing in research and development to offer innovative solutions and expand their customer base. The market is expected to continue growing at a steady pace in the coming years.

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Research Analysis

The automotive semiconductor market is experiencing significant growth due to the increasing integration of semiconductor technology in motor vehicles. Integrated electronics play a crucial role in enabling advanced features such as vehicle electrification, electric and hybrid powertrains, solar power, telematics, on-board infotainment, and safety systems. Semiconductor content in vehicles includes power electronics for electric motor control, emission control devices, luxury components for premium segment cars, and safety features like lane departure warning, blind spot detection, and collision avoidance systems. The shift towards electric vehicles (EVs), hybrid electric vehicles (HEVs), and environmental concerns have led to stringent emission norms and a focus on reducing harmful exhaust emissions. The market for automotive semiconductors is expected to continue growing as the demand for more efficient, connected, and eco-friendly vehicles increases.

Market Research Overview

The automotive semiconductor market is a dynamic and growing sector that focuses on the integration of semiconductor technology into motor vehicles. This includes electric vehicles (EVs), hybrid electric vehicles (HEVs), solar powered vehicles, and traditional gasoline-powered engines. Semiconductor content in vehicles is essential for vehicle electrification, advanced safety systems, comfort systems, telematics, and on-board infotainment. Semiconductor technology plays a crucial role in vehicle handling, safety features, emission control devices, luxury components, and the premium segment cars. Environmental concerns and emission norms are driving the demand for more efficient and cleaner power electronics, leading to the development of autonomous cars and advanced sensors like radar, LiDAR, and image sensors. The market for automotive semiconductors includes various types of semiconductor devices such as microprocessors, power devices, logic ICs, connectivity devices, and analog ICs. The passenger car segment, including sedans and hatchbacks, as well as vans, is a significant market for automotive semiconductors. The integration of semiconductor technology in vehicles also brings challenges such as security concerns, including spoofing, evasion attacks, and poisoning attacks. The market for automotive semiconductors is also influenced by the increasing use of cable harnesses, network systems, and telematics and infotainment systems, which include cell phones, GPS receivers, and location tracking for job dispatch and vehicle diagnostics. Automotive electronics are a critical component of vehicle production and automobile production units, and the market for automotive semiconductors is expected to continue growing as the demand for more advanced and connected vehicles increases.

Table of Contents:

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

ApplicationTelematics And InfotainmentPowertrainSafetyBody ElectronicsChassisVehicle TypePassenger VehicleLight Commercial VehicleHeavy Commercial VehicleGeographyAPACNorth 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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AIRAmed and Memory Treatment Centers (Bonita Springs and Jacksonville, Florida) have launched a research partnership aimed at studying Alzheimer’s disease in cognitively impaired individuals undergoing anti-amyloid therapy

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6 mins ago

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September 27, 2024

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As the global Alzheimer’s community enters a new era of drug treatments, we at MTC are excited to announce our collaboration with AIRAmed. This partnership will provide enhanced tools for the diagnosis and treatment of Alzheimer’s patients. AIRAmed’s cutting-edge technology allows patients to monitor their brain health through serial MRIs, which are conducted regularly during anti-amyloid therapy.

BONITA SPRINGS, Fla., Sept. 27, 2024 /PRNewswire/ — AIRAmed, a software company dedicated to the earlier detection of neurodegenerative diseases, more precise diagnoses, personalized treatments, and improving the quality of life for affected patients, is pleased to announce a research collaboration with Memory Treatment Centers. In partnership with Dr. Donald McCarren (DO, FAAN, FAANEM), Dr. Samuel Giles (MD), Dr. Robert Mannel (MD) and Dr. Jamie Plante (MD), the study will focus on quantitative brain volume measurements in cognitively impaired individuals receiving anti-amyloid treatment.

AIRAmed and Memory Treatment Centers have launched a research partnership studying Alzheimer’s disease.

Dr Tobias Lindig, Managing Director, AIRAmed said, “AIRAmed’s vision and mission is to continuously improve patient care with cutting edge technology – especially in the field of neurodegenerative diseases. We dedicate ourselves to early detection of disease. We developed our FDA-cleared AI-software AIRAscore – allowing to track changes in regional brain volume not visible to the eye. We are convinced that the partnership with MTC in this new era of treatments for Alzheimer´s disease offers a game-changing quality-of-life change for patients undergoing these new therapies.”

Dr. Donald McCarren, Memory Treatment Centers, said, “we at MTC are eager to partner with AIRAmed and drive forward innovation in patient care. Through this collaboration, we will share HIPAA-compliant, real-world data with the global Neurologic community, helping to enhance our understanding of the disease, improve treatment strategies, and augment patient outcomes. AIRAmed will provide exact volumetric data – enabling us at MTC to get a better understanding for Alzheimer disease; exact quantification of MR imaging data at the same time will allow us to monitor disease under therapy with precision.”

About AIRAmed – Our mission at AIRAmed is to bring the latest findings and possibilities from clinical research to the patient as quickly as possible. In many years as doctors and researchers at the University Hospital of Tuebingen, we have often seen valuable research results disappear into a drawer. With AIRAmed’s innovative software solutions, we want to prevent exactly that, instead bringing innovation into medicine – pushing boundaries of modern radiology.     

For more information, visit https://www.airamed.de/en/home

 About Memory Treatment Centers – At Memory Treatment Centers, we are leaders in innovative treatments and advancing the level and effectiveness of memory diagnosing, treatment, and monitoring. Committed to providing hope and relief to individuals struggling with various forms of cognitive impairment, including Alzheimer’s Disease, our goal is to help patients achieve better health and a higher quality of life. We actively pursue new treatment opportunities and partnerships to enhance memory care and expand patient access to treatment. Additionally, we strive to help and educate individuals and caregivers, ensuring they have the support and knowledge needed on their journey to improved well-being.

For more information, visit https://memorytreatmentcenters.com/

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SOURCE Memory Treatment Centers

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Tencent Music Entertainment Group Releases Inaugural ESG Report

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6 mins ago

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September 27, 2024

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SHENZHEN, China, Sept. 27, 2024 /PRNewswire/ — Tencent Music Entertainment Group (“TME”, or the “Company”) (NYSE: TME and HKEX: 1698), the leading online music and audio entertainment platform in China, today released its inaugural Environmental, Social and Governance (“ESG”) report. This report highlights the Company’s commitment to sustainable practices and long-term value creation, and details the initiatives and performance in key areas such as responsible platform, employee care, and social responsibility. 

Mr. Cussion Pang, Executive Chairman of TME, commented, “Our inaugural ESG report showcases the steps we are taking to develop and implement a sustainability strategy. Building upon this foundation, we are committed to continuously shaping a sustainable future.”

To access the Company’s inaugural ESG Report, please visit: https://ir.tencentmusic.com/ESG-Reports.

About Tencent Music Entertainment

Tencent Music Entertainment Group (NYSE: TME and HKEX: 1698) is the leading online music and audio entertainment platform in China, operating the country’s highly popular and innovative music apps: QQ Music, Kugou Music, Kuwo Music and WeSing. TME’s mission is to create endless possibilities with music and technology. TME’s platform comprises online music, online audio, online karaoke, music-centric live streaming and online concert services, enabling music fans to discover, listen, sing, watch, perform and socialize around music. For more information, please visit ir.tencentmusic.com.

Safe Harbor Statement

This press release contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement. In some cases, forward-looking statements can be identified by words or phrases such as “may,” “will,” “expect,” “anticipate,” “target,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” or other similar expressions. Further information regarding these and other risks, uncertainties or factors is included in the Company’s filings with the SEC and the HKEX. All information provided in this press release is as of the date of this press release, and the Company does not undertake any duty to update such information, except as required under applicable law.

Investor Relations Contact
Tencent Music Entertainment Group
ir@tencentmusic.com
+86 (755) 8601-3388 ext. 818415

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SOURCE Tencent Music Entertainment Group

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Vantage Foundation Connects V&A Solution with Metta Home for a Day of Fun and Learning

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6 mins ago

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September 27, 2024

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BANGKOK, Sept. 27, 2024 /PRNewswire/ — Following their recent partnership, the Vantage Foundation has connected V&A Solution AEC Co Ltd (or “V&A Solution”) with Metta Home to host an interactive, engaging, and educational event for the children.

A representative from V&A Solution began the day with a simple talk on how to manage money wisely, offering the children helpful advice on saving and spending responsibly. After the session, the children enjoyed a lunch from McDonald’s, which added to the lively and positive atmosphere of the day.

The event concluded with a range of fun-filled games, including Thai childhood favourites such as Captain’s Ball, a memory game, and a balancing water balloon race. The children enthusiastically participated, filling the afternoon with laughter, teamwork, and excitement. The games not only entertained the children but also encouraged cooperation and strengthened their bonds with each other.

Steven Xie, Executive Director of Vantage Foundation, said, “At Vantage Foundation, we focus on connecting local companies with local charities so they can give back directly to their communities. Facilitating partnerships like the one between V&A Solution and Metta Home allows us to bring positive, lasting experiences to these children and create deeper connections within the community.”

Pomme Natchaphan, Thailand Country Manager for V&A Solution said, “We were thrilled to spend the day with the children at Metta Home. Teaching them about good money habits was just one part of the day, but seeing their excitement during the games and lunch was truly the highlight. It was a pleasure to give back, and we are thankful to Vantage Foundation for connecting us with Metta Home.”

Pakorn Romruen, Head of Home for the Observed Juveniles, Metta Home said, “Today’s activities provided an important balance of education and recreation, contributing to the children’s overall development. Events like this not only help foster essential life skills such as teamwork and social interaction but also bring much-needed positivity to their daily lives. We are thankful to V&A Solution and Vantage Foundation for their support in creating a meaningful and enriching experience for the children in our care.”

By connecting local companies like V&A Solution with Metta Home, the Vantage Foundation continues its mission of raising awareness of invisible challenges, such as depression, anxiety, and loneliness, that often contribute to social immobility and struggle. Through partnerships and meaningful events, the Foundation aims to provide young people with the support and experiences they need to thrive.

For more information on how to support Metta Home, please visit the Department of Juvenile Observation and Protection’s official website.

About Vantage Foundation

Vantage Foundation is an independent charitable organisation launched at the McLaren Technology Centre in the UK in 2023. The foundation has worked with charity organisations around the world, including The iREDE Foundation in Nigeria, Teach For Malaysia in Malaysia, and Instituto Claret in Brazil.

For more information, please visit www.vantage.foundation

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