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Accellera Systems Initiative has established the Federated Simulation Standard (FSS) Working Group to foster interoperability among simulation tools and models across various industries. Chaired by Martin Barnasconi of NXP, the FSS Working Group will collaborate with industry leaders to develop a unified framework that supports industries like avionics, space, semiconductors, automotive, and mechatronics, ultimately accelerating product development and innovation.

South Korea and Israel have established an investment fund of $80 million to foster innovation and collaboration between their startup ecosystems. The NH-OC Global Open Innovation Fund, a joint venture with OurCrowd, aims to invest in 25-30 promising startups in semiconductors, robotics, automotive, quantum computing, cybersecurity, and digital health.

The latest market research agency data report pointed out that in the second quarter of 2024, Apple ranked second in the world's smartphones with a market share of 16%. Samsung ranked first with a market share of 20%. Xiaomi (14%), vivo (8%), and OPPO (8%) followed.

India's electronic goods exports surged by 16.9% in June, totaling USD 2.82 billion driven by India’s government initiatives like the Production Linked Incentive scheme, increased global demand, and enhanced manufacturing capabilities. Major export hubs such as Bengaluru, Hyderabad, Chennai, and Pune have been instrumental in this success. With continued government support and strategic investments, the future of India’s electronic goods exports looks promising, reinforcing the country's position in the global electronics market. 

A recent report from NITI Aayog highlights a significant challenge to India's ambitions of becoming a global leader in electronics: the nation's heavy reliance on imported components and designs. Despite remarkable market growth, India imports an astonishing 80% of its electronic components, primarily from China and Taiwan. This dependency exposes the country to supply chain disruptions, as seen during the COVID-19 pandemic, and contributes to a substantial trade deficit.  To break free from this import hold, industry experts are proposing for a need in a multi-pronged approach and significant investments in infrastructure, cutting-edge technology, and robust skill development. 

The automotive industry is undergoing a digital revolution fueled by advanced electrical/electronic architectures. McKinsey & Co. predicts that zonal controllers will become central to vehicle design, streamlining operations and driving efficiency. To support this shift, the automotive semiconductor market is booming, expected to reach $140 billion by 2032. As vehicles become increasingly complex, with features like ADAS and advanced infotainment, powerful semiconductors are essential. Zonal controllers are key to reducing wiring, weight, and development time, paving the way for safer, more efficient, and software-defined vehicles.

Data centers are facing unprecedented challenges due to record-low vacancy rates and dwindling power availability. A Siemens report highlights the urgent need for significant investment in data center technology and sustainability to address the growing energy consumption driven by AI and other advanced technologies. To optimize efficiency and reduce environmental impact, the report recommends AI-driven cooling and connecting data centers to district heating networks. As data center energy consumption surges, policymakers are also focusing on strengthening the electricity grid to support this critical infrastructure. The industry must balance growth with sustainability to meet future demands while mitigating environmental concerns.

As Budget 2024 approaches, India's electronics sector is pushing for design-focused incentives and measures to reduce import dependence. Despite growth, the sector relies heavily on imports for key components, a vulnerability exposed by the COVID-19 pandemic. Industry leaders advocate for increased R&D funding, infrastructure investments, skill development, and tax incentives. They also seek enhancements to existing initiatives like the PLI scheme and "Make in India." These steps aim to boost domestic manufacturing, foster innovation, and strengthen supply chains, positioning India as a global electronics powerhouse.
 

BYD will establish its second production base in Southeast Asia in Cambodia, where it will build an electric vehicle assembly plant, which Cambodian Prime Minister Hun Manet welcomed.

The global semiconductor manufacturing industry is on the cusp of a substantial growth trajectory, driven primarily by the surging demand for artificial intelligence applications. According to SEMI’s World Fab Forecast, the industry is projected to increase production capacity by 6% in 2024 and 7% in 2025, reaching a record-breaking 33.7 million 8-inch equivalent wafers per month.

The proliferation of AI across cloud computing and edge devices is fueling the development of high-performance chips, thereby stimulating robust expansion in semiconductor manufacturing. Advancements in leading-edge technology, such as the imminent production of 2nm chips using GAA FET technology, will further propel industry growth.