Global market intelligence firm TrendForce is honored to announce its 20th anniversary in 2020. In addition to offering enterprise consultation services, TrendForce specializes in the comprehensive market analysis of the global technology sector. With over 20 years of industrial data and insights, TrendForce established Prophet, an AI solutions company, in 2017, growing its service areas to include the emerging digital transformation sector. For the past 20 years, TrendForce has been the leading generator of market information in Greater China’s technology industry. Within the next 20 years, the company is looking to build upon its current core competencies and become the preeminent market intelligence provider and enterprise consultancy on the global stage.
In this press release, TrendForce provides predictions of the information and communication technology industry for 2020, focusing on 10 key themes.
The latest figures provided by the global research firm TrendForce show that car sales in the US for 2019 are projected to slide by 3% YoY. China’s car sales for the same year are also projected to drop by 7% YoY.
With consumers beginning to seek customization and autonomous consumption and the lack of labor becoming a growing problem at the manufacturing end, manufacturers are spurred to become adaptive to a quickly-shifting and widely-varying environment as manufacturing systems become more sophisticated than ever. Thanks to the ripened, new technology, manufacturers may deploy advanced sensing technology in conjunction with AI algorithms and robots to raise information visibility and system controllability, furthering the development of smart manufacturing for Industry 4.0. According to forecasts by TrendForce, the global market scale for smart manufacturing will register a CAGR of 10.7% up to 2022 and near US$370 billion.
According to TrendForce , electric cars have already become the main motivator for growth of the future car industry, and are expected to exceed 8 million units in 2021, twice the amount of shipments for 2018. Apart from batteries and engines, IGBT power components are ranked as the most important among key electric car components, being used in numbers 5 to 10 times that of traditional internal combustion engines. These modules may therefore bring about continual growth of total IGBT market revenue, which is projected to go beyond the US$5.2 billion mark.