Technology

Omdia research finds weak demand leads to declining quarter for semiconductor market

Published

2 years ago

June 20, 2024

LONDON, June 20, 2024 /PRNewswire/ — In the first quarter of 2024, the semiconductor market experienced approximately 2% decline falling to $151.5bn according to Omdia’s new Competitive Landscaping Tool. Typically, the first quarter of the year sees a downturn with the market dropping 4.4% by revenue following a strong fourth quarter being driven by seasonal demand. Most segments within the semiconductor market faced declines this quarter. The consumer segment was hit the hardest dropping 10.4% from 4Q23 while the industrial segment dropped 8.5% due to inventory adjustments. Even the automotive segment, which has seen steady growth for years, turned negative with a 5.1% decline in 1Q24.

The drops in these segments were offset by quarterly growth in the data processing division, which increased 3.7%, driven by a continuous high demand for NVIDIA’s chips and other AI-related products.

NVIDIA maintains its robust growth trajectory expanding its market share by more than two percentage points now representing 14.5% of the total semiconductor market revenue. Despite overtaking the traditional semiconductor leaders, Samsung and Intel who collectively hold 18.6% of the semiconductor market revenue, NVIDIA continues to gain ground. Additionally, with the resurgence of memory growth, SK Hynix and Micron rose in their market share rankings.

The automotive sector which initially resisted the industry-wide semiconductor market growth triggered by the COVID-19 pandemic, eventually succumbed to decline but quickly recovered. After 13 consecutive quarters of revenue growth, starting in 3Q20, the automotive segment experienced a slight downturn of 0.6% in 4Q23. However, the decline deepened in further in 1Q24 with a more substantial drop of 5.1% from the previous quarter. This downward trend reflects a broader deceleration in the demand for cars. The growth rate of EVs has tapered off in recent quarters, prompting a recalibration in semiconductor demand. Despite these challenges, the auto semiconductor market remains a promising long-term growth area, poised to climb over the next five years.

Omdia’s Global Semiconductor Manufacturing Market Tracker (GMMT) and the Pure Play Foundry Tracker (4Q23 reports), find that the combined factory utilizations (IDM + Foundry) reflect the overall trend within the semiconductor industry. After reaching a zenith in semiconductor demand during the COVID era’s early stages in 2022, utilization rates plummeted in 2H22 due to substantial softening in demand and record-high inventory levels. Despite semiconductor revenue experiencing growth throughout 2023, fab utilization rates have remained in the low 80% figures.

Omdia Chief Analyst Craig Stice said, “Utilization rates began a slight uptick in 2H23 as the market began seeking equilibrium. However, it has yet to materialize as traditional demand patterns have not fully emerged. Demand will continue to improve in 2H24, which should lead to inventory corrections consequently driving up factory utilization rates once again.”

ABOUT OMDIA

Omdia, part of Informa Tech, is a technology research and advisory group. Our deep knowledge of tech markets combined with our actionable insights empower organizations to make smart growth decisions.

Fasiha Khan Fasiha.khan@omdia.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/omdia-research-finds-weak-demand-leads-to-declining-quarter-for-semiconductor-market-302177844.html

SOURCE Omdia

Technology

FranklinWH Introduces Enhanced 15 kWh aPower in Australia and New Zealand

Published

1 hour ago

May 3, 2026

Expansion comes as policy shifts and rising power costs accelerate demand for residential energy storage

SYDNEY, May 4, 2026 /PRNewswire/ — FranklinWH, a leading provider of whole-home energy management and battery storage solutions, today announced the launch of its enhanced 15 kWh aPower battery in Australia and New Zealand, as demand for residential energy storage continues to grow, driven by evolving policy settings and increasing interest in energy independence.

The updated aPower builds on the company’s established platform, increasing usable capacity from 13.6 kWh to 15 kWh and raising warrantied throughput from 43 MWh to 60 MWh, an increase of 40 percent. These updates deliver more usable energy over the life of the system while maintaining the same footprint and price.

“The energy landscape is shifting quickly, and more homeowners are thinking beyond the upfront specs to what really pays off over time,” said Steve Ruskin, General Manager of FranklinWH Australia. “This upgrade is about delivering more performance over the life of the system, more usable energy, greater throughput, while staying true to our ‘buy once, buy right’ philosophy.”

The increase in warrantied throughput translates into savings for homeowners. Based on typical usage patterns and an electricity rate of A$0.35 per kilowatt-hour, the additional throughput may represent up to approximately A$5,950 in value over the lifetime of the system. The increase in usable capacity also improves energy density, lowering the effective cost per kilowatt-hour and supporting more efficient use of stored energy.

The 15 kWh configuration also aligns with current and upcoming policy frameworks benefitting residential battery adoption. This includes the updated Cheaper Home Batteries Program, with changes coming into effect for Australian homeowners from 1 May, 2026, helping households maximise value as incentives continue to evolve.

As the residential battery market expands, FranklinWH continues to focus on reliability and system performance. The aPower incorporates design elements to support durability, including structural reinforcement to reduce cell stress over time, per-cell temperature monitoring, and the separation of the battery pack and control systems to maintain reliable performance.

“We believe performance should be measured over years, not just at installation,” Ruskin added. “We focus on building systems that deliver consistent, reliable results over time. That long-term perspective is what ultimately defines value for homeowners.”

The aPower is designed to operate as part of the FranklinWH System, an integrated home energy management platform that coordinates energy generation, storage, and consumption. The system is designed to optimise multiple energy inputs, provide reliable backup power, and support more efficient and independent energy use at the household level.

About FranklinWH

FranklinWH Energy Storage is the manufacturer of the FranklinWH System. FranklinWH is a market-oriented, research-driven company focused on next-generation residential energy management and storage solutions. Located in Macquarie Park, Sydney with a global head office in the San Francisco Bay Area, FranklinWH’s team has decades of experience in energy systems, from design, through manufacturing, to sales and installation. FranklinWH is AVL-listed with multiple financial institutions.

Contact: Media@franklinwh.com

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/franklinwh-introduces-enhanced-15-kwh-apower-in-australia-and-new-zealand-302759086.html

SOURCE FranklinWH Australia Pty Ltd

Technology

Peninsula Visa Launches Comprehensive OCI Processing Services

Published

3 hours ago

May 3, 2026

Peninsula Visa, a trusted leader in immigration and visa processing services with over 50 years of expertise, today announced the launch of its comprehensive Overseas Citizen of India (OCI) processing services. To celebrate this milestone, Peninsula Visa is offering new users an exclusive 20% discount with promo code OCI20 at checkout.

SAN JOSE, Calif., May 3, 2026 /PRNewswire-PRWeb/ — Peninsula Visa, a trusted leader in immigration and visa processing services with over 50 years of expertise, today announced the launch of its comprehensive Overseas Citizen of India (OCI) processing services. To celebrate this milestone, Peninsula Visa is offering new users an exclusive 20% discount with promo code OCI20 at checkout.

For 50 years, Peninsula Visa has helped families navigate immigration. OCI processing is one of our most impactful services, connecting the Indian diaspora to their heritage. We’re proud to bring our expertise to help families secure OCI status with confidence. Evan James, CEO

A Full Suite of OCI Services

Peninsula Visa’s OCI services cover every stage of the OCI lifecycle, ensuring that members of the Indian diaspora receive expert support from start to finish.

The four service types now available are:

New OCI Application — For foreign nationals of Indian origin, spouses of Indian citizens or existing OCI card holders, and minor children with at least one Indian parent applying for OCI status for the first time.OCI Card Renewal — For card holders whose OCI card has expired, or whose linked passport has been renewed or replaced and requires an updated booklet.Re-issuance (Age Milestones) — OCI cards must be re-issued when minors reach the age of 18 and again when card holders turn 50, due to significant changes in appearance. Peninsula Visa guides clients through both transitions seamlessly.Miscellaneous OCI Services — Covering corrections to existing records, lost or damaged card replacement, address changes, and other administrative updates to the OCI file.

Why Choose Peninsula Visa for Your OCI Application

Peninsula Visa brings decades of institutional knowledge and a client-first philosophy to every OCI case.

Key value propositions include:

Expert Guidance — Dedicated OCI specialists with deep knowledge of consulate requirements, eligibility rules, and documentation standards across all service types.High Approval Rate — A meticulous multi-stage review process that identifies and resolves issues before submission, dramatically reducing the likelihood of rejection or delay.Fast Turnaround — Standard processing in 12-15 Business Days for most OCI service types, with real-time status updates throughout the process.End-to-End Support — Personalized document checklists, secure document uploads, expert form preparation, consulate submission, and post-submission tracking — all in one place.

Launch Promotion

Save 20% on any OCI service — new users only

OCI20

Enter code OCI20 at checkout. Available to new users. No expiration date.

Leadership Perspective

“For 50 years, Peninsula Visa has helped individuals and families navigate the complexities of immigration documentation. OCI processing is one of the most impactful services we have ever added — it directly connects the Indian diaspora to their heritage country in a lasting, meaningful way. We are proud to bring our proven expertise and client-centric approach to this important service, and we look forward to helping thousands of families secure their OCI status with confidence.”

Founded in 1975, Peninsula Visa has built its reputation on precision, transparency, and a genuine commitment to client outcomes. The addition of OCI processing services reflects the company’s ongoing mission to expand its offerings to meet the evolving needs of immigrants and their families across the United States.

Get Started Today

Eligible applicants can begin their OCI journey by visiting Peninsula Visa’s dedicated OCI Services page. New users can take advantage of the 20% launch discount by entering promo code OCI20 at checkout when selecting any OCI service type.

Media Contact

Evan James, Peninsula Visa, 1 4087277515, media@peninsulavisa.com, https://peninsulavisa.com/

View original content to download multimedia:https://www.prweb.com/releases/peninsula-visa-launches-comprehensive-oci-processing-services-302760544.html

SOURCE Peninsula Visa

Technology

Peninsula Visa Launches Comprehensive OCI Processing Services

Published

3 hours ago

May 3, 2026

A Full Suite of OCI Services

Peninsula Visa’s OCI services cover every stage of the OCI lifecycle, ensuring that members of the Indian diaspora receive expert support from start to finish.

The four service types now available are:

Why Choose Peninsula Visa for Your OCI Application

Peninsula Visa brings decades of institutional knowledge and a client-first philosophy to every OCI case.

Key value propositions include:

Launch Promotion

Save 20% on any OCI service — new users only

OCI20

Enter code OCI20 at checkout. Available to new users. No expiration date.

Leadership Perspective

Get Started Today

Media Contact

Evan James, Peninsula Visa, 1 4087277515, media@peninsulavisa.com, https://peninsulavisa.com/