Artificial Intelligence
Automotive Sensors Market to Hit USD 8,535.6 Million by 2027; Increasing Availability of Wide Variety of Vehicle Sensors to Fuel Industry Growth, Says Fortune Business Insights™
Pune, Sept. 22, 2020 (GLOBE NEWSWIRE) — The global automotive sensors market size is projected to reach USD 8,535.6 million by 2027, exhibiting a CAGR of 3.0% during the forecast period. The emergence of start-ups specializing in autonomous vehicle technologies is expected to open a new growth dimension for this market, states Fortune Business Insights™ in its report, titled “Automotive Sensors Market Size, Share & COVID-19 Impact Analysis, By Sensor Type (Temperature Sensor, Pressure Sensor, Speed Sensor, Position Sensor, Others), By Application Type (Powertrain, Chassis, Exhaust, ADAS, Others), By Vehicle Type (Passenger Car, LCV, HCV) and Regional Forecast, 2020-2027”. Autonomous vehicles, or self-driving vehicles, depend on sensor technology to operate as they enable the car to gather data from the external environment and act accordingly. The growing popularity of these vehicles has led to the birth of several start-ups, advancing and widening the application of sensors in this domain.
For example, FiveAI, a UK-based start-up, is developing smart perception systems that combine artificial intelligence (AI) and sensor technology to create connected platforms for shared transportation and urban mobility. In France, a start-up called EasyMile has engineered a driverless shuttle that can transport up to 15 people to fixed or on-demand areas within defined premises. This unique development is expected to propel the market growth in the coming years.
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List of the Leading Companies Profiled in the Global Automotive Sensors Market are:
- Elmos Semiconductor (Dortmund, Germany)
- Allegro Microsystems, LLC (New Hampshire, US)
- NXP Semiconductors (Eindhoven, Netherlands)
- Continental AG (Hanover, Germany)
- Infineon Technologies AG (Neubiberg, Germany)
- CTS Corporation (Illinois, US)
- Texas Instruments Incorporated (Dallas, US)
- Denso Corporation (Kariya, Japan)
- STMicroelectronics (Geneva, Switzerland)
- Robert Bosch GmbH (Gerlingen, Germany)
As per the report, the global market value stood at USD 7,858.6 million in 2019. The highlights of the report include:
- Bird’s eye-view study of the industry trends and outlook;
- Meticulous analysis of all market segments;
- Comprehensive assessment of the market drivers and challenges; and
- Exhaustive research into the regional dynamics and competitive landscape of the market.
Market Restraint
Suspension of Production Operations amid COVID-19 to Stagnate Market Growth
The COVID-19 pandemic has crippled the global automotive industry, with demand and sales of vehicles falling to historic lows. In India, the Society of Indian Automobile Manufacturers reported a shocking 78.43% drop in passenger vehicle sales in April-June 2020. In Europe, automotive giants have had to shut down their manufacturing operations amid the demand slump and supply chain disruptions caused by the coronavirus.
For example, Volkswagen, the German automaker, closed down its plants in Spain and Italy, while Fiat Chrysler announced closure of its plants in Serbia, Poland, and Italy. This will inevitably push down the investment appetite in autonomous vehicles as investors and car companies are currently focused on surviving through this unprecedented crisis, which in turn will hamper the automotive sensors market growth. Furthermore, with key manufacturers prioritizing their spending, adoption of advanced sensor technologies, is likely to get stalled, signaling a grim period for the market.
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Regional Insights
Asia Pacific to Lead the Global Market Backed by Stringent Safety Norms
Asia Pacific is expected to dominate the automotive sensors market share during the forecast period on account of growing stringency of vehicular safety norms. This trend is mainly driven by the persistently high number of road fatalities in developing economies. In response, government authorities have imposed strict regulations to reduce the number of road accidents, making it mandatory for vehicle manufacturers to install automotive sensors and sensor-enabled airbags in vehicles for enhanced safety of passengers. The market size in Europe stood at USD 1,865.8 million in 2019.
Competitive Landscape
Key Players to Provide Sensor Solutions for Self-Driving Cars & Electric Vehicles
The market for automotive sensors is expanding at a prolific pace, which is being further bolstered by the increasing demand for electric vehicles (EVs) and autonomous cars. Key players are responding to this trend by developing and launching sensor solutions designed to augment the accuracy and efficiency of these vehicles, thus fueling the growth of this market.
Industry Developments:
June 2020: Vitesco Technologies, the powertrain business division of Continental, partnered with Japan-based ROHM Semiconductor for the supply of silicon carbide (SiC) power devices. The SiC components will be utilized by Vitesco to boost the efficiency of its power electronics in electric vehicles, as this material facilitates better use of electrical energy stored in EV batteries.
January 2020: Bosch became the first company to develop a long-range LiDAR system ready for production, which is expected to accelerate the advancements in autonomous driving. The system is designed to cover both long and short ranges and can be combined with existing radar and camera setups.
Browse Detailed Summary of 200 Pages Premium Research Report With TOC:
https://www.fortunebusinessinsights.com/industry-reports/automotive-sensors-market-101690
Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Merger, Acquisitions, and Partnerships
- Distributor Analysis – For Major Players
- Growth and Penetration Analysis
- Porter’s Five Forces Analysis
- PEST Analysis
- Vendor Landscape
- Global Automotive Sensors Market Analysis, Insights and Forecast, 2016-2027
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Sensor Type
- Temperature Sensor
- Pressure Sensor
- Speed Sensor
- Position Sensor
- Others
- Market Analysis, Insights and Forecast – By Application Type
- Powertrain
- Chassis
- Exhaust
- ADAS
- Others
- Market Analysis, Insights and Forecast – By Vehicle Type
- Passenger Car
- Light Commercial Vehicle (LCV)
- Heavy Commercial Vehicle (HCV)
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia pacific
- Rest of the World
TOC Continued…!
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EV Market Size, Share & Industry Analysis, By Type (Battery Electric Vehicles (BEV), Plug-In Hybrid Electric Vehicles (PHEV), Hybrid Electric Vehicles (HEV), and Others), By Vehicle Type (Passenger Cars and Commercial Vehicles), and Regional Forecast, 2019-2026
EV Telematics Market Size, Share & Industry Analysis, By Type (embedded, retrofitted), By Market (OEMs, aftermarket), By Application (safety & security, entertainment, information & navigation, diagnostics, others), and Regional Forecasts, 2019-2026
Automotive ECU Market Size, Share & ECU Industry Analysis, By Application (Powertrain, Braking Systems, Body Electronics, ADAS, Infotainment), By Vehicle (Passenger, LCV, HCV, Electric Vehicle), and Regional Forecasts, 2019-2025
About Us:
Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.
Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.
At Fortune Business Insights™, we aim at highlighting the most lucrative growth opportunities for our clients. We, therefore, offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.
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Artificial Intelligence
Tencent Announces Winners of Flagship CarbonX Program to Combat Climate Change
SHENZHEN, China, May 23, 2024 /PRNewswire/ — Tencent (00700.HK) is awarding 13 exceptional teams that won the first phase of its groundbreaking CarbonX Program, which is aimed at boosting promising new climate technologies. The winners, which emerged from a pool of 30 finalists and more than 300 initial applications, will receive a total of around RMB 100 million (US$14 million) in financial support from Tencent. It showcases the company’s commitment to driving sustainable social innovations in the fight against climate change.
CarbonX was launched in March 2023 to advance the next generation of low-carbon technologies. Tencent has committed RMB 200 million (US$28 million) in catalytic funding over the next three years to innovative ideas that might otherwise languish or fail to gain traction.
CarbonX’s first phase focused on carbon capture, utilization, and storage (CCUS), as well as technology-based carbon removal. These solutions were chosen for their unique ability to curb emissions from hard-to-abate industries such as steel and cement, mitigate the continued reliance on fossil fuels, and reduce legacy emissions created from decades of industrialization.
Backed by Tencent’s mission of Tech for Good and an alliance of like-minded industry partners, CarbonX aims to help these cutting-edge technologies make the leap from the research or early startup stage to commercial scale. The ultimate goal is supporting them in making a significant impact toward the targets outlined in the Paris Agreement, which includes a 45 percent reduction in emissions by 2030 and achieving net-zero emissions by 2050.
Dr. Hao Xu, Tencent’s Vice President of Sustainable Social Value and Head of Tencent’s Carbon Neutrality Lab, said: “Technology innovation serves as the driving force to accelerate our progress toward achieving carbon neutrality. CarbonX program is aimed at fostering the growth of these technologies, driving positive impact across society, and laying the groundwork for a more sustainable future.”
Professor Jerry Yan, Chair Professor of the Hong Kong Polytechnic University and Co-chairman of the CarbonX expert committee, said: “To pave the path for a greener economy, we must champion the development of cutting-edge low-carbon technologies. Just as solar and wind power were nurtured in their infancy, emerging solutions like CCUS and tech-based carbon removal demand our early support.”
The program assembled a panel of experts from academia, industries, and the investor community as the jury, and welcomed submissions from diverse participants across three distinct tracks:
CarbonX Lab: Designed to incubate research institutions, universities, or labs that bring in game-changing climate solutionsCarbonX Accelerator: Designed to accelerate the growth of climate-tech startups that exhibit commercialization potentialCarbonX Infrastructure: Designed to support capacity building to facilitate industry developmentThe finalists comprise four projects from the Lab track, six from the Accelerator track, and three from the Infrastructure track. These projects explore innovative solutions, such as using steel slag to capture and store carbon directly from furnace exhaust, converting CO2 into sustainable aviation fuel and valuable chemicals through electrochemical reactions or microorganisms, and employing new approaches to directly capture CO2 from the atmosphere with the hope of slashing the cost to less than US$150 per ton.
Meanwhile, Tencent is also collaborating with Tsinghua University to develop a comprehensive system of Measure, Reporting and Verification (MRV) tools to accurately gauge progress toward decarbonization.
Aside from receiving financial and advisory support, several projects will also have the opportunity to collaborate with industry partners and test their research beyond the laboratory setting.
Building upon the success of the first phase, Tencent is poised to launch the second iteration of CarbonX globally as early as later this year in pursuit of early-stage climate tech innovation.
View original content:https://www.prnewswire.co.uk/news-releases/tencent-announces-winners-of-flagship-carbonx-program-to-combat-climate-change-302153596.html
Artificial Intelligence
NEXCOM Delivers Exceptional Performance in Edge AI Video Analytics
TAIPEI, May 23, 2024 /PRNewswire/ — NEXCOM, a leading supplier of network solutions, published AI and storage performance test results of its NSA 7160R: high-performance Edge server. NSA 7160R is powered by dual Intel® Xeon® Scalable processors for high computing, and enhanced with DDR5 memory, high-bandwidth PCIe Gen5 LAN modules, and high-capacity NVMe storage modules. The test results show the efficiency of the NSA 7160R in processing edge video server workloads and were explained in the accompanying paper.
Edge AI Is the Future
With the rise of smart cities, processing data from cloud to the edge is becoming increasingly critical. Imagine the surge of visual data from ubiquitous security cameras – that information needs real-time analysis right where it’s collected. This is just the tip of the iceberg. As artificial intelligence permeates our lives, certain AI tasks will also need edge computing for efficient, lightning-fast performance. The key is to avoid bottlenecks in the data center by keeping things localized and streamlined.
Your Turnkey Solution Awaits
When it comes to Edge video servers, you need top-notch hardware and software that can handle all the “heavy lifting”. To speed up the total solution bringing up Intel comes in with their Intel® Edge Video Infrastructure (Intel® EVI) reference design. NEXCOM ran a bunch of tests using this design to evaluate its NSA 7160R for essential tasks including storage, image retrieval, and AI features such as inference and feature matching.
After conducting all tests, the results have shown that NSA 7160R meets all performance expectations with outstanding results. For a detailed breakdown of the solution description, test configuration, and results, please refer to the accompanying paper.
Intel, the Intel logo, and other Intel marks are trademarks of Intel Corporation or its subsidiaries.
About NEXCOM
Founded in 1992 and headquartered in Taipei, Taiwan, NEXCOM integrates its diverse capabilities and operates six global businesses, including the Network and Communication Solutions (NCS) unit. NCS focuses on the latest network technology and helps to build reliable network infrastructure, by delivering professional design and manufacturing services for customers all over the world. NCS’s network application platform is widely adopted in Cyber Security, Load Balancing, 5G uCPE, SD-WAN, SASE, Edge Computing, OT Security, Storage, NVR, and other network applications for businesses of all sizes.
Video – https://www.youtube.com/watch?v=4WlO8fyWnu4
View original content:https://www.prnewswire.co.uk/news-releases/nexcom-delivers-exceptional-performance-in-edge-ai-video-analytics-302153555.html
Artificial Intelligence
Qiming Venture Partners Promotes Alex Zhou to Managing Partner
SHANGHAI, May 23, 2024 /PRNewswire/ — Qiming Venture Partners, a global-leading venture capital firm, is pleased to announce the promotion of Alex Zhou to Managing Partner.
As a Qiming home-grown Managing Partner, Alex first joined the firm in 2014 as a Vice President and has since emerged as one of the most active investors in frontier technologies, especially in the field of artificial intelligence. Alex will join fellow Managing Partners Duane Kuang, Nisa Leung and William Hu in managing Qiming’s operations.
In the past few years, Alex has actively participated in or led investments in many outstanding technology companies across the artificial intelligence, robotics, semiconductors, new energy vehicles, and software sectors. Notable among these include Roborock, UBTech, Unisound, Biren Technology, ROX Motor, VIEWTRIX Technology, Zhipu AI, Mech-Mind Robotics, Axera, HyperStrong, DeepWay, etc.
“I am deeply grateful for the guidance and trust I received from Qiming over the past 10 years.” Alex said. “We are at the forefront of a new wave of technological revolution. This era will undoubtedly bring about many bold innovators who will shape the future. Together with all the Managing Partners and colleagues at Qiming, I am excited and fully committed to seize the opportunities, embrace any potential challenges, explore new possibilities and build a better Qiming.”
Since its inception 18 years ago, Qiming has always committed to upgrading its institutional capabilities and team development in order to stay ahead in an ever-evolving technological and market landscape. The success achieved in the fields of healthcare, mobile internet and frontier technology is a testament to this strategic approach. Alex’s promotion to the most senior position in the firm demonstrates Qiming’s continued confidence in the future of technology innovation.
About Qiming Venture Partners
Qiming Venture Partners was founded in 2006. Currently, Qiming Venture Partners manages eleven US Dollar funds and seven RMB funds with $9.5 billion in capital raised. Since our establishment, we have invested in outstanding companies in the Technology and Consumer (T&C) and Healthcare industries at the early and growth stages.
Since our debut, we have backed over 530 fast-growing and innovative companies. Over 200 of our portfolio companies have achieved exits through IPOs at the NYSE, NASDAQ, HKEX, Shanghai Stock Exchange, or Shenzhen Stock Exchange, or through M&A or other means. There are also over 70 portfolio companies that have achieved unicorn or super unicorn status.
Many of our portfolio companies are today’s most influential firms in their respective sectors, including Xiaomi, Meituan, Bilibili, Zhihu, Roborock, Gan & Lee Pharmaceuticals, Tigermed, Zai Lab, CanSino Biologics, Schrödinger, APT Medical, New Horizon Health, Sanyou Medical, AmoyDx, Berry Genomics, SinocellTech, UBTech, Yuanxin Technology, Caidya, Belief BioMed, WeRide, among many others.
View original content:https://www.prnewswire.co.uk/news-releases/qiming-venture-partners-promotes-alex-zhou-to-managing-partner-302153306.html
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