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Electric Vehicle Power Inverter Market to Expand by USD 9.1 Billio (2024-2028) Driven by BEV and PHEV Sales Growth, AI Impact on Trends- Technavio Report

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NEW YORK, Aug. 23, 2024 /PRNewswire/ — The global electric vehicle (EV) power inverter market  size is estimated to grow by USD 9.13 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 9.45%  during the forecast period.  Increasing sales of bevs and phevs is driving market growth, with a trend towards in-wheel micro-inverter system. However, thermal management issues limiting the performance of evs  poses a challenge. Key market players include Aegis Power Systems Inc., Aptiv Plc, BorgWarner Inc., Bosch Mobility Solutions, Continental AG, Danfoss AS, DENSO Corp., Fuji Electric Co. Ltd., Hitachi Ltd., Hyundai Mobis Co. Ltd., Infineon Technologies AG, LG Magna e Powertrain, MAHLE GmbH, Marelli Holdings Co. Ltd., Meidensha Corp., Metric Mind Engineering, Mitsubishi Electric Corp., Siemens AG, Toyota Industries Corp., and Valeo SA.

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 (Full hybrids, Pure EV, Plug-in hybrids, Commercial HEV, and Mild hybrids), Type (Passenger cars and Commercial vehicles), and Geography (APAC, Europe, North America, South America, and Middle East and Africa)

Region Covered

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

Key companies profiled

Aegis Power Systems Inc., Aptiv Plc, BorgWarner Inc., Bosch Mobility Solutions, Continental AG, Danfoss AS, DENSO Corp., Fuji Electric Co. Ltd., Hitachi Ltd., Hyundai Mobis Co. Ltd., Infineon Technologies AG, LG Magna e Powertrain, MAHLE GmbH, Marelli Holdings Co. Ltd., Meidensha Corp., Metric Mind Engineering, Mitsubishi Electric Corp., Siemens AG, Toyota Industries Corp., and Valeo SA

Key Market Trends Fueling Growth

The Electric Vehicle (EV) market is witnessing an emerging trend towards in-wheel motors, where motors are installed next to the wheel in parallel. This design offers several advantages, including increased space for battery packs and luggage due to the reduced size of the motor and inverter. However, the size of the inverter is crucial to maintaining this advantage. Protean Electric is leading this innovation with their inside-out motor and micro-inverter system. The micro-inverter system is installed within the motor itself, using the space between the external rotor and internal stator. Several micro-inverters are used to break down high current at high voltage into small currents at small voltages. This redundancy feature ensures that if one micro-inverter fails, the motor continues to function with reduced performance, minimizing the impact on the overall system. The demand for such micro-inverter systems in EV power inverters is expected to grow during the forecast period, providing reliability and efficiency to the EV market. 

The Electric Vehicle (EV) power inverter market is witnessing significant trends, with SiC inverters gaining popularity due to their efficiency and high power density. The electric breaking field is another trend, enabling regenerative braking and improving overall vehicle performance. Cooling coefficients are essential for managing the heat generated by these inverters, especially in used EVs. Hybrid Electric Vehicles (HEVs) and Battery Electric Vehicles (BEVs) require different inverter types, such as CV-specific electric motors for HEVs and traction inverters for BEVs. SiC inverters, like those from Hyundai and Vitesco, are increasingly used due to their wide-bandgap semiconductors, such as SiC and GaN. 800-volt inverters and DC battery voltages are becoming standard for EVs, enabling faster charging and higher efficiency. Multiphase AC current, gate drivers, and current and position measurements are crucial components of these inverters, requiring mathematical transformations for output signals. Power electronics, sustainable transportation solutions, and environmental initiatives are driving the demand for cleaner energy sources. Power inverter manufacturers are investing in charging infrastructure networks to support the growing number of emission-free vehicles. Soft switching inverters and wide-bandgap semiconductors are key technologies shaping the future of the EV power inverter market. 

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Market Challenges

•         Electric Vehicle (EV) power inverters play a crucial role in converting DC battery power into AC power for the vehicle’s electrical systems. However, the increased use of electronic units in EVs generates more heat compared to conventional vehicles. Quick acceleration demands more power, leading to increased heat dissipation of around 250W per power device. To maintain the temperature below 125 degrees Celsius, cooling systems are necessary. Traditional methods, such as heat spreaders and thermal grease, create high thermal resistance, reducing system efficiency. Current systems use water-ethylene glycol coolant circulation, but it consumes more space, making the modules complicated, heavy, and expensive. New technologies like two-sided cooling systems and shared cooling architectures offer solutions, but they increase the cost of the power inverter system. Effective thermal management is essential to ensure the longevity and efficiency of EV power inverters.

•         The Electric Vehicle (EV) power inverter market is experiencing significant growth due to the increasing demand for sustainable transportation solutions and environmental initiatives. Power electronics, including SiC (silicon carbide) and GaN (gallium nitride) semiconductors, play a crucial role in the development of efficient EV power inverters. Traction inverters, such as soft switching inverters, are essential components of automotive traction systems, enabling emission-free vehicles to function. Power inverter manufacturers face challenges in meeting the demands of charging infrastructure networks and consumer behavior. The adoption of wide-bandgap semiconductors, like SiC and GaN, can help improve switching frequencies, reduce energy losses, and increase driving range. Automobile manufacturers, including General Motors, are investing in energy-efficient EV technology to meet emission standards and reduce greenhouse gases. However, challenges remain, such as semiconductor supply, operating costs, and charging infrastructure development. Consumer spending on green vehicles is on the rise, and technological development in battery technology and power inverters continues to advance. Companies like NXP Semiconductors and VEPCO Technologies are leading the way with innovative inverter prototypes, such as SIL-D-capable inverters. Mitsubishi and other automakers are focusing on weight reduction to improve EV performance and competitiveness with internal combustion engines.

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

Segment Overview 

This electric vehicle (ev) power inverter market report extensively covers market segmentation by

Application 1.1 Full hybrids1.2 Pure EV1.3 Plug-in hybrids1.4 Commercial HEV1.5 Mild hybridsType 2.1 Passenger cars2.2 Commercial vehiclesGeography 3.1 APAC3.2 Europe3.3 North America3.4 South America3.5 Middle East and Africa

1.1 Full hybrids-  The Electric Vehicle (EV) power inverter market is experiencing significant growth due to increasing demand for cleaner and more sustainable transportation solutions. These inverters convert DC battery power into AC power, enabling EVs to operate on electricity. Major automakers and new entrants are investing heavily in this technology to meet stringent emission norms and customer preferences. The market is expected to expand at a robust CAGR through 2026. Key players include Tesla, Continental AG, and Magna International.

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 Electric Vehicle (EV) power inverter market is experiencing significant growth due to the increasing demand for sustainable transportation solutions and environmental initiatives. As more countries adopt stricter emission standards, the shift towards cleaner energy sources in the automotive industry is accelerating. Power electronics, specifically SiC (silicon carbide) and GaN (gallium nitride) power inverters, play a crucial role in the efficient conversion of DC power from the battery to AC power for the electric motor in EVs. The market is driven by the growing popularity of electric and hybrid vehicles among consumers, with automobile manufacturers such as General Motors investing heavily in energy efficiency and reducing greenhouse gas emissions. The development of charging infrastructure networks is also a key factor, as is the ongoing technological advancements in power inverters, leading to increased energy efficiency and lower operating costs. Consumer spending on green vehicles is expected to continue growing, making the EV power inverter market an attractive investment opportunity for manufacturers like NXP Semiconductors and VEPCO Technologies, who are developing SIL-D-capable inverters and innovative inverter prototypes to meet the demands of this rapidly evolving market.

Market Research Overview

The Electric Vehicle (EV) power inverter market is witnessing significant growth due to the increasing demand for sustainable transportation solutions and environmental initiatives. Power electronics, including SiC (silicon carbide) and GaN (gallium nitride) semiconductors, play a crucial role in the development of EV power inverters. These wide-bandgap semiconductors enable higher switching frequencies, leading to energy savings and improved driving range. Traction inverters, including soft switching inverters, are essential components of automotive traction systems, converting DC battery voltage to multiphase AC current for the electric motor. EV power inverters are integral to emission-free vehicles, including passenger cars, hybrid vehicles, and battery electric vehicles. Automobile manufacturers like General Motors, Hyundai, Mitsubishi, and others are investing in energy efficiency and reducing greenhouse gases by integrating these inverters into their vehicles. Charging infrastructure networks, including charging stations, are also crucial to the adoption of EVs, influencing consumer behavior and semiconductor supply. Operating costs, tailpipe emissions, and cooling coefficients are essential factors in the development of EV power inverters. Companies like NXP Semiconductors and VEPCO Technologies are leading the way with innovative inverter prototypes, including SIL-D-capable designs, to meet the demands of the EV market. Consumer spending on green vehicles and technological development continue to drive growth in the EV power inverter market. Weight reduction, electric braking fields, and SiC inverters are also areas of focus in the EV power inverter market, with companies like Hyundai and Vitesco investing in these technologies. The use of 800-volt inverters and DC battery voltage is becoming more common in the EV market, requiring gate drivers, AC voltage, current measurements, position measurement, and mathematical transformations for optimal performance.

Table of Contents:

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

ApplicationFull HybridsPure EVPlug-in HybridsCommercial HEVMild HybridsTypePassenger CarsCommercial VehiclesGeographyAPACEuropeNorth AmericaSouth 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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Technology

Quarterhill Awarded High-Speed Weigh-In-Motion Prescreening Contract in Belgium

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January 10, 2025

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The new WIM station will assist Brussels Mobility in achieving its goals of improving road safety and creating a fair regulatory environment by reducing the number of overloaded vehicles on the roads of the Brussels region.Traffic data provided by the system will support Brussels Mobility’s mission to foster economic growth and improve quality of life through the development of transport infrastructure.

TORONTO, Jan. 10, 2025 /PRNewswire/ – Quarterhill Inc. (“Quarterhill” or the “Company”) (TSX: QTRH) (OTCQX: QTRHF), announced today a contract to provide weigh-in-motion (“WIM”) technology to Brussels Mobility through a joint project with Belgium-based technology integrator Jacops NV (“Jacops”). Quarterhill will be responsible for the design and supply of the WIM subsystem, technical support, and training. Quarterhill will also provide Jacops with the software necessary for commercial vehicle monitoring and enforcement.

Quarterhill will supply the WIM system for the Brussels-Capital Region weigh station, which will be used to pre-select overloaded vehicles for enforcement. The dynamic weighing station will promote and improve the efficiency of inspections by screening vehicles at highway speeds in advance of the law enforcement inspection site. In addition, the weigh station will generate data that provides an accurate, real-time picture of the vehicles on the E19 highway.

The system’s goal is to reduce the number of overloaded vehicles on the Brussels Region’s roads. Overloading causes many problems, such as rapid road deterioration, more serious accidents, and unfair competition between transport companies. Quarterhill’s technology mitigates these issues by screening for overweight vehicles while optimizing the use of enforcement resources.

“We are excited at the prospect of introducing our advanced enforcement technology to Brussels Mobility and expanding our presence in Europe,” said Chuck Myers, CEO of Quarterhill. “Together with Jacops, we will deploy a state-of-the-art high-speed WIM system that will make Belgian roads safer and more sustainable. We have a longstanding relationship with Jacops as a customer for our microwave sensor products, and this project demonstrates how having a broad portfolio of traffic technologies and established relationships with traffic system integrators leads to further opportunities.”

The weigh station will monitor four lanes of one-way traffic on the highway and record data on vehicle classification and vehicle tax without impeding traffic. An overview camera provides images to help enforcement personnel clearly identify vehicles flagged by the system. An Automated Number Plate Reader system will photograph, recognize, store, process, and transmit the number plates of vehicles approaching the dynamic weighing station.

Quarterhill’s iSINC WIM controller was selected for the project as it offers preselection of overweight vehicles, creates comprehensive vehicle records, classifies vehicles, and meets the desired standards for continual uptime monitoring and ease of service. iSINC’s versatility allows it to control a wide array of sensors, cameras, dimensioning systems, communication systems, and custom equipment.

WIM sensors that comply with the accuracies outlined in the Nmi International WIM standard Specification and test procedures for WIM Systems will be installed at the site. The WIM sensors meet the lane width specifications and provide high durability, stable output over time, and IP68 water resistance.

Quarterhill will advise Jacops on the design and placement of the WIM system components to ensure optimal operation, including onsite technical support for installation, testing, and initial calibration. Quarterhill will also provide Jacops with thorough training on the WIM components and system calibration. Over the 2-year warranty period, Quarterhill will provide remote diagnostics and technical support to ensure continuous uptime and optimal performance.

“This project shows that Quarterhill’s technology is well suited to the precise needs of European agencies. We are set to elevate road safety and integrity in the region, reinforcing our expanding footprint in this important market,” stated Heimo Haub, Managing Director, Quarterhill Europe.

About Quarterhill
Quarterhill is a leading provider of tolling and enforcement solutions in the Intelligent Transportation System (ITS) industry. Our goal is technology-driven global leadership in ITS, via organic growth of our tolling and enforcement businesses, and by continuing an acquisition-oriented investment strategy that capitalizes on attractive growth opportunities within ITS and its adjacent markets. Quarterhill is listed on the TSX under the symbol QTRH and on the OTCQX Best Market under the symbol QTRHF. For more information: www.quarterhill.com.

Forward-looking Information
This news release contains forward-looking information and forward-looking statements within the meaning of applicable Canadian securities laws (collectively, “forward-looking statements”). Such forward-looking statements relate to future events, conditions or future financial performance of ‎Quarterhill based on future economic conditions and courses of action. All statements other ‎than statements of historical fact may be forward-looking statements. Such forward-looking statements ‎are often, but not always, identified by the use of any words such as “seek”, “anticipate”, “budget”, ‎‎”plan”, “goal”, “expect” and similar expressions.

Forward-looking statements involve known and unknown risks, assumptions, ‎uncertainties and other factors that may cause actual results or events to differ materially from those ‎anticipated in such forward-looking statements. Material risk factors that could cause actual results to differ materially from the forward-looking statements contained in this news release include, among others, demand for Quarterhill’s products and services; general economic and market conditions; competition; risks relating to technological advances and cyber-security; and other risks set forth in the Company’s most recent annual information form available on SEDAR+ at www.sedarplus.ca. The Company believes the expectations reflected in ‎the forward-looking statements are reasonable, but no assurance can be given that these expectations ‎will prove to be correct and such forward-looking statements included in this news release should not be ‎unduly relied upon.‎ Material factors and assumptions used to develop the forward-looking statements contained in this news release include, among others: Quarterhill’s ability to execute on its business plan; demand for Quarterhill’s products and services; operating assumptions; and financial projections and cost estimates. Quarterhill has no intention, and undertakes no obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

View original content:https://www.prnewswire.com/news-releases/quarterhill-awarded-high-speed-weigh-in-motion-prescreening-contract-in-belgium-302347610.html

SOURCE Quarterhill

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ez1099 2024 Edition Tax Preparation Software for 2025 Tax Season Is Available for Electronic Filing

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January 10, 2025

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REDMOND, Wash., Jan. 10, 2025 /PRNewswire/ — Designed for US business owners, tax professionals and entrepreneurs, the latest ez1099 tax form software from Halfpricesoft.com is easy to navigate and streamline processing unlimited forms for multiple companies for one flat rate.  The latest edition of ez1099 supports paper form printing, pdf printing and efile feature. It also comes with a recipient data import feature from the spreadsheet and QuickBooks IIF file.

 

“ez1099 2024 software is now available for business owners and tax professionals to print and file 1098’s and 1099’s, seamlessly.” Dr. Ge, Founder of Halfpricesoft.com, says.

ez1099 software streamlines the preparation, printing, and e-filing of essential IRS forms, including W2G, 1097BTC, various 1098 forms (1098, 1098C, 1098E, 1098F, 1098Q, 1098T), numerous 1099 forms (1099A, 1099B, 1099C, 1099CAP, 1099DIV, 1099G, 1099INT, 1099K, 1099LTC, 1099MISC, 1099NEC, 1099OID, 1099PATR, 1099Q, 1099QA, 1099R, 1099S, 1099SB, 1099SA), 5498 forms (5498, 5498ESA, 5498QA, 5498SA), as well as 8935, 3921, 3922, and 1096 forms.

Cost is only $79 per installation for the basic version of ez1099 Software or $139 per installation for the advanced version with bulk printing feature, import feature, PDF file creation and electronic filing capability. Also offered in a network version for two or more installations starting at $199 to enable sharing data between computers or offices.

ez1099 is compatible with Windows 11, 10, and 8.  It can also run on Windows Vista system, 7, and MAC machines (Mac can run the system only if installed with Bootcamp).

The features in the latest version ez1099 software include but are not limited to:

electronically file unlimited forms to the IRS with one flat rateez1099 blank paper prints out recipient copiesPrint in bulk for faster processingQuick data importing featureCustomers can save even more time by compiling and saving form data for later use and modificationSupport unlimited accounts and unlimited recipients at no additional chargeGo green with optional PDF document converting and e-file (electronic filing) featuresFeature to process correction forms included

Starting at $79.00 for the print and mail version and $139.00 to electronically file. Halfpricesoft.com welcomes all clients to begin the no obligation thirty-day test drive today at https://www.halfpricesoft.com/1099_software.asp#purchase

About halfpricesoft.com

Halfpricesoft.com is a leading provider of small to midsize business software, including online and desktop payroll software, online employee attendance tracking software, accounting software, in-house business and personal check printing software, W2, software, 1099 software, 1095 ACA form software and ezACH direct deposit software. Software from halfpricesoft.com is trusted by thousands of customers for over 20 years and will assist business owners simplify payroll processing and streamline business management.

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SOURCE Halfpricesoft.com

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The New York Stem Cell Foundation Research Institute Enters Agreement to Accelerate Precision Drug Discovery for Neurodegenerative Disease

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January 10, 2025

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Partnership Will Harness NYSCF’s Automated Cell Culture Systems and Artificial Intelligence Capabilities to Study Disease at an Unprecedented Cellular Level

NEW YORK, Jan. 10, 2025 /PRNewswire/ — The New York Stem Cell Foundation (NYSCF) Research Institute today announced they have entered into an agreement with Janssen Research & Development, LLC, a Johnson & Johnson company, to use NYSCF’s AI-powered platform for drug discovery to target neurodegenerative disease. This initiative brings together NYSCF’s advanced robotic systems for stem cell research and J&J’s expertise in drug discovery and data science to unlock novel disease insights and accelerate the development of more effective and tailored treatments.

NYSCF has developed proprietary automation technology that enables large-scale, reproducible disease modeling and drug screening using patient-derived stem cells. By combining high-content cell imaging with machine learning-driven analysis, NYSCF’s platform can reveal previously undiscovered disease phenotypes and therapeutic targets leading to the development of novel therapeutic approaches. This versatile platform is adaptable to a wide range of cell types and diseases, making it uniquely positioned to advance precision medicine for patients.

“This work with Johnson & Johnson allows us to integrate our cutting-edge stem cell automation and AI platform with their deep expertise in therapeutic development,” said Jennifer J. Raab, President and CEO of NYSCF. “Together, we look forward to accelerating the discovery of innovative treatments for patients affected by devastating neurodegenerative disease.”

About The New York Stem Cell Foundation Research Institute
The New York Stem Cell Foundation (NYSCF) Research Institute is an independent non-profit organization accelerating cures and better treatments for patients through stem cell research. The NYSCF Research Institute is an acknowledged world leader in stem cell research and in the development of pioneering stem cell technologies, including the NYSCF Global Stem Cell Array®, which is used to create cell lines for laboratories around the globe. NYSCF focuses on translational research in an accelerator model designed to overcome barriers that slow discovery and replace silos with collaboration. For more information, visit nyscf.org.

CONTACTS:
David McKeon
212-365-7440
dmckeon@nyscf.org

Chris Taylor
chris@christaylorpr.com

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SOURCE The New York Stem Cell Foundation

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