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Automotive Electronics Market Share is Predicted to Exhibit Expansion at a High-Value CAGR of 8.2% by 2033: Fact.MR Report

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Rockville, April 27, 2023 (GLOBE NEWSWIRE) — The market value of automotive electronics is expected to increase to US$ 580.5 billion by the end of 2033 from its current level of US$ 261.8 billion in 2023. From 2023 to 2033, the global automotive electronics market is expected to grow at a significant CAGR of 8.2%.

Due to the accelerating acceptance of electrification trends in the automotive industry and the rising integration of modern electronic systems, the usage of electronics in vehicles has been developing quickly in recent years. Future shipments of automotive electronics are expected to benefit from governments around the world placing a greater emphasis on safety and implementing tight car safety regulations.

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        Automotive Electronics Market Scope
Report Coverage Details
Base year         2022
Historic period 2017-2021
Forecast period 2023-2033
Growth momentum & CAGR Accelerate at a CAGR of 8.2%
Market growth 2023-2033 US$ 580.5 Billion
Market structure Fragmented
Regional analysis North America, Europe, APAC, South America, and Middle East and Africa
Key countries US, Canada, UK, France, and Germany
Competitive landscape Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks
Key companies profiled Altera (Intel Corporation), Continental AG, Hella Gmbh & Co. Kgaa (Hella), Infineon Technologies AG, Microchip Technology Inc., DENSO CORPORATION, Panasonic Corporation, Broadcom Ltd., Robert Bosch GmbH, NXP Semiconductors N.V., Valeo Inc., Hitachi Automotive Systems Ltd., Visteon Corporation, Xilinx Inc., Texas Instruments Incorporated, ZF Friedrichshafen AG
Market dynamics Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period.
Customization purview If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Drivers

  • The growing concern for safety among consumers has led to an increase in the demand for advanced safety features such as ADAS (Advanced Driver Assistance Systems), ABS (Anti-lock Braking Systems), and airbags.
  • With the rise of the Internet of Things (IoT), the automotive industry has witnessed a surge in connected car technology, enabling real-time communication between vehicles, infrastructure, and other devices.
  • The increasing demand for electric vehicles has led to a rise in the demand for automotive electronics such as batteries, power electronics, and electric motors.
  • Governments across the world are implementing strict regulations to reduce carbon emissions, which is driving the adoption of electric vehicles and other eco-friendly technologies.
  • Consumers are demanding more advanced infotainment systems with features such as navigation, entertainment, and connectivity.
  • The constant advancements in technology, such as the development of artificial intelligence and machine learning, are driving the growth of the automotive electronics market.
  • The rising disposable income of consumers is leading to an increase in the demand for premium and luxury cars that are equipped with advanced electronic features.

Key Market Trends

  • Vehicles are becoming increasingly connected, with features such as built-in Wi-Fi, GPS navigation, and Bluetooth connectivity. This trend is expected to continue, with a growing focus on the integration of vehicles with smart homes and smart cities.
  • Autonomous driving is a major trend in the automotive industry, with increasing investment in technologies such as lidar, radar, and camera sensors. This trend is expected to drive significant growth in the automotive electronics market, as vehicles become increasingly reliant on sophisticated control systems.
  • ADAS technologies, such as adaptive cruise control, lane departure warning, and automatic emergency braking, are becoming increasingly common in new vehicles. This trend is expected to continue, with a focus on improving safety and reducing accidents.
  • Lightweighting is a major trend in the automotive industry, with a focus on reducing vehicle weight to improve fuel efficiency and reduce emissions. This trend is driving significant innovation in the automotive electronics market, with a focus on developing lightweight materials and components.
  • As vehicles become increasingly connected and sophisticated, there is a growing focus on improving the user experience. This includes developing intuitive user interfaces, integrating voice and gesture recognition technologies, and providing personalized experiences for drivers and passengers.

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Market Restraints

  • The cost of automotive electronics can be significant, as they require specialized components, advanced manufacturing processes, and high levels of testing and certification. This can make them less accessible to some consumers, especially in emerging markets or for lower-end vehicles.
  • Automotive electronics require a high level of technical expertise to design and develop, as they must integrate with existing vehicle systems and meet strict safety and performance standards. This can limit the number of companies that can enter the market, as it requires significant investment in research and development.
  • Rapid advancements in technology can quickly make existing automotive electronics obsolete, requiring frequent updates and redesigns. This can be costly and time-consuming and may require manufacturers to collaborate closely with suppliers and technology partners to stay ahead of the curve.

Competitive Landscape:
Key companies in the market are focusing on advanced technologies to offer innovative electronic solutions for vehicles.

Autonomous driving technologies continue to advance rapidly, with companies investing heavily in self-driving vehicles.

  • Some of the major players in the market include Tesla, Waymo (a subsidiary of Alphabet), and Uber, which have been testing autonomous vehicles on public roads. This technology has the potential to significantly reduce the number of accidents on the road and increase efficiency.

The automotive industry is undergoing a shift towards electric vehicles (EVs) as governments across the world are increasingly pushing for a transition to cleaner and more sustainable transportation. As a result, the demand for automotive electronics has increased, particularly in areas such as battery management systems and charging infrastructure.

Key Segments of Automotive Electronics Industry Research

  • By Component:
    • Electronic Control Units
    • Sensors
    • Current Carrying Devices
    • Others
  • By Application:
    • ADAS
    • Infotainment
    • Body Electronics
    • Safety Systems
    • Powertrain Electronics
  • By Sales Channel:
    • OEMs
    • Aftermarket

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Key Questions Covered in the Automotive Electronics Market Report

  • What will be the estimated size of the Market in 2023?
  • At what rate will the global Automotive Electronics sales grow until 2033?
  • Which are the factors hampering the Automotive Electronics demand?
  • Which region will spearhead the growth in the global industry during 2023-2033?
  • Which are the factors driving sales in the Automotive Electronics Market during the forecast period?

Check out more related studies published by Fact.MR Research:
Automotive Power Electronics Market Demand: The global automotive power electronics market demand is anticipated to rise at a CAGR of 4.1% and reach a market valuation of US$ 6 billion by the end of 2033, up from US$ 4 billion in 2023.

Automotive Actuators Market Size: The global automotive actuators market size is estimated at USD 20.1 Billion in 2022 and is forecast to reach USD 38.3 Billion by 2032, growing with a CAGR of 6.6% during 2022-2032.

Automotive Automatic Transmission Market Share: During the past year, the industry registered a Y-o-Y increase worth 8.2%. From 2022 to 2032, the automotive automatic transmission industry share is poised to flourish at a CAGR of 8.2% to reach a value of US$ 155 Billion by the end of 2032.

Automotive Accelerator Pedal Module Market Growth: The increasing demand for accelerator pedal modules from passenger and commercial vehicle OEMs is also anticipated to give traction to the growth of automotive accelerator pedal module market over the forecast period.

About Fact.MR
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Artificial Intelligence

TRON Forum collaborates with four major microcontroller manufacturers to hold TRON Programming Contest Using World-Standard Real-Time OS with 5 million JP YEN cash prize

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TOKYO, March 29, 2024 /PRNewswire/ — TRON Forum (Chair: Ken Sakamura, Professor Emeritus of the University of Tokyo) is pleased to announce that four microcontroller manufacturers, Infineon Technologies Japan K.K. (President & CEO: Ikuya Kawasaki), STMicroelectronics K.K. (Country Manager for Japan: Koichiro Takakuwa), NXP Japan K.K. (President & CEO: Masayuki Wajima), and Renesas Electronics Corporation (President & CEO: Hidetoshi Shibata) have collaborated with the Forum to hold TRON Programming Contest from Monday, December 11, 2023 jointly. The initial registration is being accepted now.

This contest is for engineers and students in Japan and overseas to compete in various  fields such as microcontroller applications, middleware, development environments, and tools using a member of TRON real-time OS (RTOS) family, “μT-Kernel 3.0” (*), which is a global standard of small-scale embedded computer systems.
(*) μT-Kernel 3.0 is an RTOS that fully complies with the real-time OS standard “IEEE 2050-2018” (IEEE Standard for a Real-Time Operating System (RTOS) for Small-Scale Embedded Systems) and runs on microcontrollers from various manufacturers.
Using the latest microcomputer boards provided by the manufacturers, contestants will compete in technologies that bring out the characteristics of RTOSs such as real-time performance, power saving, and small memory footprint, as well as development environments and tools that utilize new technologies.
The details of the contest with the total amount of cash prize, five million Japanese yen are at the following URL: https://www.tron.org/programming_contest/
About TRON Forum
TRON Forum was established in 2002 to promote TRON Project. We have been actively conducting activities centered on the T-Engine project, which prepares the development environment for embedded systems, and the operation of Ubiquitous ID Centers such as ucode.
In May 2015, Chair Sakamura received the ITU 150th Anniversary Award together with Bill Gates and others for his advocacy of open architecture TRON, which is the origin of ubiquitous networking and the IoT.
One member of the TRON RTOS family has been adopted as an international standard for real-time operating systems (RTOS) for small-scale embedded systems as 2050-2018 by Institute of Electrical and Electronics Engineers (IEEE), the world’s largest association of its kind and an international standardization organization. In 2023, the project leader, Chair Sakamura, received the IEEE Masaru Ibuka Consumer Technology Award from the IEEE in honor of the late Mr. Ibuka. In addition, the TRON RTOS family received the IEEE Milestone recognition in 2023.
URL: https://www.tron.org 
 
 

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Artificial Intelligence

XtalPi Unveils XtalGazer: A Comprehensive AI-Driven Polymorph Selection Platform

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CAMBRIDGE, Mass., March 28, 2024 /PRNewswire/ — XtalPi Inc., a leading global technology company in integrating artificial intelligence (AI) and robotics to advance the discovery of groundbreaking medicine and innovative materials, announced today the launch of its proprietary comprehensive solid form discovery and selection platform, XtalGazer. This advanced platform aims to significantly improve the polymorph selection process for the pharmaceutical industry by integrating AI- and automation-powered experimental and computational approaches.

XtalGazer provides a total solution for delivering high-quality polymorph screening and selection methods to expedite drug development and mitigate risks. It represents a paradigm shift in solid-state research, moving from the traditional trial-and-error approach to a data-driven, design-led methodology. The platform provides an expansive suite of foundational tools to accelerate polymorph discovery, characterization, and selection process, empowering pharmaceutical companies to conduct thorough research with less active pharmaceutical ingredient (API) in shorter development cycles.
A key component of XtalGazer is XtalCSP, a crystal structure prediction platform to perform global searches of crystal structures for target molecules and the other optional components in the corresponding searching space, offering a deep insight into possible stable forms. Furthermore, crystallization strategy recommendations will provide AI-backed experimental design to help avoid human bias. XtalGazer also utilizes MicroED to rapidly elucidate crystal structures from powder samples, reducing the need for growing single crystals.
XtalPi’s launch of XtalGazer marks another significant step in the company’s ongoing exploration of solid-state research. From crystal structure prediction platforms being one of the first products to launch at XtalPi, to today’s comprehensive polymorph selection platform, XtalPi will keep fulfilling its promise to solving challenging problems in this space. XtalPi will continue to deliver faster, more accurate, and more comprehensive approaches to building an ecosystem for the R&D process in solid-state, pre-formulation and crystallization.
For more information about XtalPi, please visit www.xtalpi.com.
About XtalPi:
XtalPi is an innovative technology company powered by artificial intelligence (AI) and robotics. Founded in 2015 on the MIT campus, XtalPi is dedicated to driving intelligent and digital transformation in the life science and new materials industries. With tightly interwoven quantum physics, AI, cloud computing, and large-scale clusters of robotic workstations, XtalPi offers a range of technology solutions, services, and products to accelerate and empower innovation for biopharmaceutical and new materials companies worldwide.
Media Contact: Vivienne [email protected]
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Artificial Intelligence

ICIS and Base Oil News Announce Partnership to Enhance Market Insights

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LONDON, March 28, 2024 /PRNewswire/ — ICIS, a global source of commodity intelligence, is pleased to announce a strategic partnership with Base Oil News, a premier news outlet founded by industry expert Iain Pocock that provides in-depth coverage of the base oils and lubricants market. This collaboration marks a significant milestone in the dissemination and exchange of critical market data and insights.

With more than two decades of journalism experience at Bloomberg, Reuters, and Argus Media, Iain Pocock brings unparalleled expertise to this partnership. His deep understanding of illiquid energy markets makes him a credible and influential figure in the industry. Since November 2023, Iain has been working closely with ICIS to share and exchange valuable data and insights, enhancing the services both platforms offer to the base oils and lubricants market.
Through the collaboration, Iain integrates ICIS’ extensive content and data resources in Base Oil News market coverage. In return, he contributes market insights to ICIS News, including expert and exclusive analysis of supply and demand dynamics, price margins, and other critical market drivers. This exchange ensures that subscribers of both ICIS and Base Oil News have access to the most comprehensive, timely, and accurate market information, empowering them to make informed decisions.
“It’s a very exciting partnership – where we leverage each other’s strengths and provide actionable insights to our customers,” said Iain Pocock, Founder of Base Oil News. “The market is the winner.”
“As ICIS is already the world’s most trusted pricing benchmark for base oils, this collaboration with Iain Pocock and Base Oil News provides an even stronger and deeper service to our customers,” said Stephen Burns, Editorial Director at ICIS. “Iain’s expertise and extensive industry connections are invaluable, and we have established a fruitful partnership that benefits the market at large.”
For the latest insights from Iain Pocock on ICIS News, visit ICIS News.  
About ICIS
ICIS – Independent Commodity Intelligence Services – helps businesses through seamlessly delivering data and analytics, across the chemical, fertilizer and energy markets. A trusted source and benchmark for price information and insight across key commodities markets worldwide. Our independent, transparent market intelligence informs thousands of quality decisions every day, taking the pressure out of negotiations and giving customers space for more innovative thinking, through published datasets including price assessments, price forecasts, supply and demand fundamentals and more.
Over 150 years of shaping the world by connecting markets to optimise the world’s valuable resources. With a global team of more than 600 experts, ICIS has employees based in London, New York, Houston, Karlsruhe, Milan, Mumbai, Singapore, Guangzhou, Beijing, Shanghai, Dubai, Sao Paulo, Seoul, Tokyo and Perth.
ICIS is part of RELX, a FTSE15 company with a market cap of £64bn and an employee base of over 30,000 experts across 40 countries.
About RELX
RELX is a global provider of information and analytics for professional and business customers across industries. The Group serves customers in more than 180 countries and has offices in about 40 countries. It employs approximately 30,000 people of whom almost half are in North America. RELX PLC is a London listed holding company which owns 52.9% of RELX Group. RELX NV is an Amsterdam listed holding company which owns 47.1% of RELX Group. The shares are traded on the London, Amsterdam and New York Stock Exchanges using the following ticker symbols: London: REL; Amsterdam: REN; New York: RELX and RENX. Total market capitalisation is approximately £64bn | €75bn | $81bn.
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