Automotive Engineering Service Providers Market | Increasing Vehicle Digitization and Electrification to Boost the Market Growth

The global automotive engineering service providers market size is poised to grow by USD 5.31 billion during 2020-2024, progressing at a CAGR of over 6% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.

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Technavio has announced its latest market research report titled Global Automotive Engineering Service Providers (ESP) Market 2020-2024 (Graphic: Business Wire).

Disruptive technology-driven trends in the automotive industry have been propelling automotive OEMs to incorporate advanced driver-assistance systems (ADAS) primarily for product differentiation and gain competitive advantage. The significant demand from the consumer end for increased safety, lower emissions, fuel efficiency, and improved driving experience is also increasing the installation of ADAS, such as speed assist system, park assist system, and other sensors. Increased technological innovations in vehicles have prompted OEMs to partner with consumer electronics, energy, and telecommunications companies. These factors are creating business opportunities for EDP to offer various engineering solutions to optimize products and processes of OEMs and their suppliers. As a result, the automotive engineering service providers market will register steady growth over the forecast period.

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Report Highlights:

  • The major automotive engineering service providers market growth came from the powertrain segment. OEMs are working toward the development of lightweight and fuel-efficient engines, which has been creating significant business opportunities for ESPs. Furthermore, the increasing need for rigorous testing and validation methodologies of engines and

Twilio to buy cloud customer data startup Segment for $3.2 billion: Forbes

FILE PHOTO: A banner for communications software provider Twilio Inc., hangs on the facade of the New York Stock Exchange (NYSE) to celebrate the company’s IPO in New York City, U.S., June 23, 2016. REUTERS/Brendan McDermid

(Reuters) – Cloud communications platform provider Twilio Inc TWLO.N plans to buy customer data infrastructure company Segment for $3.2 billion, Forbes reported on Friday.

The deal, which had not been finalized as of Friday afternoon, was expected to be at least partially based on Twilio stock, the report added, citing two sources it did not name.

San Francisco-based Segment has recently been open to acquisition offers, according to the report.

Twilio declined to comment to Reuters. Segment was not immediately available for comment outside regular business hours.

Segment raised $175 million in a Series D funding round in April 2019. The startup said in September that it worked with more than 20,000 businesses including Intuit, FOX and Levi’s, employing more than 550 people.

Cloud companies have seen a surge in demand this year as more businesses use their services to meet the demands of the switch to work from home due to the coronavirus outbreak.

“Twilio is a beneficiary of pandemic-catalyzed digital transformation acceleration,” brokerage JP Morgan said in a note this month.

Last week, Twilio estimated third-quarter sales above its previous forecast, as the switch to remote working and learning boosted demand for cloud services.

Reporting by Juby Babu and Kanishka Singh; Editing by William Mallard

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U.S. should try to delay IPO of China’s Ant Group, Senator Rubio says

By Alexandra Alper

WASHINGTON (Reuters) – Senator Marco Rubio, who has successfully urged the Trump administration to pursue investigations of Chinese companies, called on Friday for the U.S. government to consider options to delay an initial public offering of China’s Ant Group, the fintech arm of Chinese e-commerce giant Alibaba.

“It’s outrageous that Wall Street is rewarding the Chinese Communist Party’s blatant crackdown on Hong Kong’s freedom and autonomy by orchestrating Ant Group’s IPO on the Hong Kong and Shanghai stock exchanges,” Rubio, a Republican, said in a statement to Reuters.

“The Administration should take a serious look at the options available to delay Ant Group’s IPO,” he added.

The Hong Kong leg of the IPO, part of a dual listing in Shanghai and Hong Kong, is being sponsored by China International Capital Corp, Citigroup, JPMorgan and Morgan Stanley. Credit Suisse is working as a joint global coordinator. Goldman Sachs is also involved.

Ant declined to comment on Rubio’s remarks, but said its business was primarily in China and it is excited about growth prospects there.

It was not immediately clear how the U.S. government could postpone the listing of a Chinese company abroad. But Rubio’s remarks are a sign of growing pressure among China hardliners in Congress, within the administration and elsewhere, for President Donald Trump to sanction Ant before it lists later this month.

Some fear the offering, worth up to $30 billion, could expose scores of U.S. investors to fraud. Others fear it could give the Chinese government access to sensitive banking data belonging to U.S. citizens.

“These digital payment systems are the source of well-founded national security concerns, and the Trump administration should move to protect American users’ sensitive financial data as quickly as possible,” Republican Representative Jim Banks said in a statement when asked whether

Here’s what’s happening Wednesday with COVID-19 in the Chicago area

Illinois health officials Tuesday announced 1,617 new known cases of COVID-19 and 32 additional confirmed fatalities, bringing the total number of known infections in Illinois to 305,011 and the statewide death toll to 8,836 since the start of the pandemic.

a group of people sitting at a table with a bunch of stuffed animals: Mourners add to a memorial on Sept. 9, 2020, during a vigil in memory of Dajore Wilson, 8, near where she was killed at 47th Street and South Union Avenue in the Canaryville neighborhood.

© Brian Cassella / Chicago Tribune/Chicago Tribune/TNS
Mourners add to a memorial on Sept. 9, 2020, during a vigil in memory of Dajore Wilson, 8, near where she was killed at 47th Street and South Union Avenue in the Canaryville neighborhood.

Officials reported 49,513 new tests in the last 24 hours. The seven-day statewide positivity rate is 3.4%.

a traffic light at night: The setting sun is is seen along East Madison Street before the fall equinox on Sept. 21, 2020, in Chicago.

© Armando L. Sanchez / Chicago Tribune/Chicago Tribune/TNS
The setting sun is is seen along East Madison Street before the fall equinox on Sept. 21, 2020, in Chicago.

Earlier Tuesday, city officials said Indiana again is in danger of being added to Chicago’s quarantine travel order next week. While the neighboring state is still only at a warning level, Chicago residents are “strongly advised” to avoid traveling there, according to a city news release.

Chicago adds a state to its quarantine list if it averages more than 15 new daily COVID-19 cases per 100,000 residents over a seven-day period. Indiana already has passed that threshold, but to allow Chicagoans time to rearrange travel plans, the city will wait to see if it improves its numbers next week.

a person preparing food in a kitchen: Kelly Helgesen of Takeaway Bagel makes sourdough bagels at Superkhana International on Sept. 19, 2020, in Chicago.

© Armando L. Sanchez / Chicago Tribune/Chicago Tribune/TNS
Kelly Helgesen of Takeaway Bagel makes sourdough bagels at Superkhana International on Sept. 19, 2020, in Chicago.

COVID-19 in Illinois by the numbers: Here’s a daily update on key metrics in your area

COVID-19 cases in Illinois by ZIP code: Search for your neighborhood

Chicago’s travel quarantine list: Here’s what you need to know to avoid a large fine

Illinois coronavirus graphs: The latest data on deaths,

Prime Day 2020 PS5 And PS4 Deals: What To Expect

It’s an exciting time for PlayStation fans, as the PlayStation 5 launches November 12. Peak deals season is also on the horizon for video games, with Amazon Prime Day 2020 next week and Black Friday following not too far behind. So, the question is: What kind of PlayStation deals can we expect throughout Amazon Prime Day? There will be tons of deals on games and accessories, though it may be quite challenging to find any PS5-centric deals.

We’ll be rounding up the best PS5 and PS4 deals for Amazon Prime Day 2020 as they go live on October 13. This will include deals from not just Amazon, but the confirmed competing sales at Best Buy, Walmart, Target, Newegg, and more retailers. For now, let’s take a look and what PlayStation deals to expect (and what not to expect) throughout Prime Day 2020.

PS5 preorders probably aren’t happening

Of course, there’s practically no chance of any deals on the PS5 on Prime Day. Additionally, we doubt any units will be available to preorder. The PS5 has been sold out for weeks, and there hasn’t been any indication that more stock will be made available before it launches on November 12.

We’d also be surprised to see PS4 console deals, since interest in the soon-to-be outdated system has died down this year. Also, retailers haven’t had much stock of any PS4 model but the Pro this year, and it seems even the Pro is becoming scarce.

PS4/PS5 Prime Day 2020 game deals

Ghost of Tsushima
Ghost of Tsushima

Game deals tend to be featured heavily on Prime Day at Amazon and other retailers. Each year, we see discounts on relatively new releases as well as beloved hits. With the PS5 on the horizon, we might see even steeper discounts on PS4 games than normal. We’re