With the increasing trends of digital transformation, the industry has to be ready with technogical advances that will propel towards the future of digitalization and internet-of-things.
Electrical equipment and components are any machines and their components that generate, distribute, and use electrical powers. This can mean producing electric wires and cables, electrical components, and manufacturers of power-generating equipment and other heavy electrical equipment. The industry has widespread applications, examples are coating, condition monitoring, electricals, energy storage, environment simulation, industrial testing, noise monitoring, photonics, power electronics, RF and Microwave, geospatial, and thin films applications. Operating structure involves high fixed cost and highly dependent on essential raw materials. Therefore, fluctuation in commodities prices and other raw materials may have impacts on the industry performance.
The semiconductor industry is the aggregate of companies engaged in the design and fabrication of semiconductors and semiconductors devices. The semiconductor industry is the driving force and the backbone behind the wider electronic industry. As the electronic device market proliferates, the semiconductor industry will continue to prosper. There are four categories of semiconductors, namely microprocessors, commodity integrated circuits, memory chips, and complex systems. Semiconductor industry plays a key role in the development of new technology and innovation for electronic products. The industry is predominantly manufactured in 6 places: China, Malaysia, South Korea, Singapore, Taiwan, and Japan. Key players in the industries are Intel Corp, Taiwan Semiconductor Manufacturing, Qualcomm, Broadcom, Micron, NVDIA, and ASE technology.
The sector plays in converting electrical power to another form. The amount of power generated or converted will depend on the capacity size of motors, generators, and transformers. Top manufacturers in the sector are Caterpillar Inc, Toshiba, ABB, and Schweitzer Engineering Laboratories, Inc. among many others.
Battery is used as energy storage for many applications. Over the last decade a surge in demand and production in lithium-ion batteries has provided many new opportunities. The rapid increase in production has brought 85% decline in battery prices, making applications such as electric vehicles and other energy storage applications viable. The implication of the battery application viability is vital to transitioning away from fossil fuel dependence and is set to play greater importance in the coming decade. The low-cost battery storage is changing the future and a disruption to existing technology.
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