The Semiconductor and Electronics industry is a highly competitive global market that necessitates significant capital investments. With rising competition, there is a greater push for the development of better-evaluated products, which would result in more successful administrations rather than short-lived products. Semiconductor technology is defined by advancements and innovative business model adoptions in a variety of business procedures to improve speed, reduce the size, and increase application functionality. As a result, there has been a lot of activity in various semiconductor fields like nanotechnology, packaging technologies, assembly, and MEMs (micro-electro-mechanical) systems. The semiconductor industry has expanded dramatically, with a market value of USD 450 billion in 2019. This growth is being driven by the Internet of Things (IoT), artificial intelligence (AI), wireless and mobile technologies, and other major propelling trends and technologies. Aside from this impressive growth, the industry faces some serious challenges, including skills and talent shortages.
The growing talent gap is a global concern, and key semiconductor hubs are dealing with varying degrees of talent scarcity. Singapore, for example, is attempting to address labor shortages in the specialized fields of electronics and electrical engineering manufacturing, which serve as the foundation of the semiconductor industry. China, which accounts for half of the global chip demand, requires 400,000 more semiconductor workers to meet its growth goals of developing domestic semiconductor manufacturing.
In December 2019, Bosch unveiled a new interior monitoring system that improves the safety, comfort, and convenience of all vehicle occupants. The system detects driver distraction, drowsiness, and even the presence of a child in the vehicle, and it alerts the driver in critical situations. The data collected from the interior of a vehicle is used to improve safety systems such as the seat belt alert function.
Continental AG released a left-turn assist for agricultural machines in October 2019. Using an acoustic or optical signal, the system warns the driver of the agricultural machine about obstacles on the vehicle's left side. The system can detect approaching vehicles from a distance of up to 250 meters. This is made possible by radar technology. It will be combined with camera technology in the near future to provide a more efficient solution.
In September 2019, Aptiv PLC and Hyundai Motor Co., a South Korean automotive company, formed a joint venture to develop autonomous vehicles for the commercialization of level 4 and level 5 self-driving technologies. The joint venture agreement could help the company expand its capabilities in the South Korean autonomous vehicle market.
Walgate Technologies, a Baker Hughes company and industry leader in inspection solutions, will introduce the Phoenix Powerlscan HE, its first high-energy computed tomography system, in December 2020.
In September 2019, MISTRAS Group acquired New Century Software (US), a leading provider of pipeline integrity management software and services to energy transportation companies.
In June 2019, Olympus Corporation introduced the DSX1000 digital microscope, which significantly improves user inspection workflow and allows for the analysis of a wide range of samples with a single tool.
In May 2018, Olympus introduced the IPLEX G Lite ultra-portable industrial videoscope, which is useful for inspecting hard-to-reach areas of aircraft and piping.
Although the impact of COVID-19 has waned with the moderate to complete reopening of global economies, the impact across the electronics value chain, from materials to final products, is likely to be far-reaching and significant for semiconductor manufacturers. COVID-19 has highlighted potential risks and vulnerabilities in today's electronics and semiconductor value chain model, as well as questions for the semiconductor industry to reevaluate its global supply chain model. COVID-19 could be the "black swan" event that forces the electronics and semiconductor industries to reconsider their global supply chain strategy. Wired communications: The rate of growth in this segment could outpace pre-COVID-19 forecasts during 2020-2021, as a delayed recovery leads to higher growth than an earlier predicted optimistic scenario. Demand for effective communication networks will continue to be driven by remote working and homeschooling. China accounted for more than half of global semiconductor consumption in 2019. Total consumption in China is expected to be $231 billion in 2020, with exports accounting for more than $190 billion. Disruption in China is likely to have a significant impact on companies around the world and impede the value chain of the electronics industry.