Artificial Intelligence
Insights on the MRAM Global Market to 2026 – by Product Type, Application and Geography
Dublin, April 30, 2021 (GLOBE NEWSWIRE) — The “MRAM Market – Forecasts from 2021 to 2026” report has been added to ResearchAndMarkets.com’s offering.
The global Magnetic RAM Market is expected to grow at a compound annual growth rate of 28.71% over the forecast period to reach a market size of US$4,996.637 million in 2026 from US$853.870 million in 2019.
The market is expected to surge in the coming years, because of the increasing usage of MRAM in applications such as automotive, defense, aerospace, consumer electronics, and others. Major companies, scientific, and research & development institutions, have been developing MRAM technologies, in the past few years. For Instance, In April 2020, a team at the Indian Institute of Technology, in Mandi, India, announced the development of Magnetic Random-Access Memory, intending to address data storage concerns. The team stated that the spin-transfer torque MRAM, which were based on nano spintronic devices, would be used to put an end to data loss from computers, because of interruptions, and would enhance the next-generation computers, or other gadgets. There are other developments in the market, in recent years. Startups and novel players have been working hard to secure funding from major players in the market.
For instance, In September 2020, Antaios, a key pioneer in SOT-MRAM technology, announced that it had secured US$11 million in funding from a major French venture capital firm, Sofimac Innovation, and Innovacom. The company stated that the novel funds would be used to deploy SOT-MRAM in every chip, becoming a major candidate for the next generation memory storage market. MRAM is considered a niche memory storage memory in the market, because of the availability of alternatives such as DRAM. But, in recent years, with the increasing investments in R&D in MRAM technology, the market growth has accelerated.
In May 2020, The Korea Institute of Science and Technology announced that its research team had developed a magnetoresistive random-access memory, that has high speeds of spin direction changes and consumes extremely low power. The research team stated that MRAM’s had more advantages than DRAM, as they processed data at a faster rate, and also flashes memories, and were highly energy efficient. . Samsung, one of the largest manufacturers of smartphones, globally, stated recently the company had been planning to expand the applications of MRAM technology, to various sectors. The company had been aiming to use MRAM chips in more areas, beyond Artificial Intelligence and the Internet of Things, such as the automotive market, low-level cache, graphic memory, and wearables. The company begins the mass production of MRAM solutions in mid-2019. The chip was built using a 28nm FD-SOI process.
Increasing Defense Expenditure
The market is expected to surge in the coming years, because of the acceleration in defense spending and expenditure, globally. According to the Stockholm International Peace Research Institute, global military expenditure saw a surge in the year 2019 and 2020, reaching approx. US$1.9 trillion in the year 2019. The budget saw a surge of 3.6% in 2019, then the previous year. The top five military spenders in the year 2019, were the United States, China, India, Russia, and Saudi Arabia. The defense budget is utilized for the development and procurement of novel weapons, with updated and advanced technology. The use of Magnetic Random-Access Memory in defense equipment has seen a growth in the last few years.
The total military spending by the United States in 2019, was at US$732 billion and it accounted for approx. 38% of global military expenditure. China and India had a military expenditure of US$261 billion and US$71.1 billion, in the same years. Major companies have been providing Magnetic Random Access Memory solutions for different applications. For Instance, Teledyne e2V, one of the major players in the market, provides MRAM type EV2A16A for different applications, such as defense, avionics, and others. The type has been an extended reliability version of the MR2A16A from another key player in the market, known as Everspin. It is an ideal memory solution for applications that usually stores and retrieves data, more quickly. In defense, the solution and the product are used for Electronic Warfare, Field Communication, ECM, and Radar. Another benefit of the product is that it provides reliable performance and operation, across the different military temperature range
The rise in Aviation Sector
The market is expected to be driven by the Magnetic Random Access Memory in the aviation industry, in recent years, MRAM technology has been gradually increasing its presence in Aviation and Aerospace industry, because it provides higher density non-volatile memory on a specific device. Moreover, the black box in an airplane is used to store data and memory, and with a faster and more durable MRAM device, the market is expected to register substantial growth during the forecast period. With the rise in air passenger traffic, worldwide, the demand for aircraft production is likely to surge. According to the World Bank, the air passenger rose from approx. 310 million in the year 1970, to approx. 4.397 billion in the year 2019. The OECD members have a major share in air passenger traffic, with over 2.44 billion passengers in the year 2019.
Major companies such as Boeing and Airbus, have increased the production and delivery of aircraft in recent years. Boeing delivered 35 commercial jets, in December 2019, and Airbus delivered 138 commercial jets, in December 2019. Major companies have been providing novel and advanced MRAM solutions, for the aerospace and aviation industry, in the past few years. Avalanche Technology had been developing a large and substantial portfolio of around 1Mb to 256 Mb of radiation hardened, highly reliable Persistent SRAM products, which had been based on its proprietary pMT. STT-MRAM technology, by the company, had been designed to operate successfully in harsh and difficult weather conditions and environment. Radiation surges the aging and life cycle of semiconductor materials and parts, leading to major degradation of premature failure or electrical performance. Avalanche had announced its partnership with NASA Goddard Space Flight Centre to examine and evaluate the company’s novel and first-generation P=SRAM products
Key Topics Covered:
1. Introduction
1.1. Market Definition
1.2. Market Segmentation
2. Research Methodology
2.1. Research Data
2.2. Assumptions
3. Executive Summary
3.1. Research Highlights
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. The threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
5. Global Magnetic RAM Market Analysis, By Product Type
5.1. Introduction
5.2. Spin-Transfer Torque MRAM
5.3. Toggle MRAM
6. Global Magnetic RAM Market Analysis, By Application
6.1. Introduction
6.2. Robotics
6.3. Consumer Electronics
6.4. Automotive
6.5. Aerospace & Defense
6.6. Enterprise Storage
6.7. Others
7. Global Magnetic RAM Market Analysis, by Geography
7.1. Introduction
7.2. Americas
7.2.1. United States
7.2.2. Others
7.3. Europe Middle East and Africa
7.3.1. UK
7.3.2. Germany
7.3.3. France
7.3.4. Others
7.4. Asia Pacific
7.4.1. Japan
7.4.2. China
7.4.3. South Korea
7.4.4. Others
8. Competitive Environment and Analysis
8.1. Major Players and Strategy Analysis
8.2. Emerging Players and Market Lucrativeness
8.3. Mergers, Acquisitions, Agreements, and Collaborations
8.4. Vendor Competitiveness Matrix
9. Company Profiles
9.1. Intel Corporation
9.2. Honeywell International Inc.
9.3. NVE Corporation
9.4. Everspin Technologies Inc
9.5. Avalanche Technology
9.6. Crocus Nano Electronics LLC
9.7. Toshiba Corporation
9.8. Spin Transfer Technologies
9.9. Samsung Electronics Co. Ltd.
9.10. Qualcomm Incorporated
For more information about this report visit https://www.researchandmarkets.com/r/9oqib9
Artificial Intelligence
Global Insurance Provider Selects 3CLogic to Streamline AI and Contact Center Capabilities with ServiceNow
Multinational Insurance Broker to deploy 3CLogic’s solution with ServiceNow’s Financial Service Operations (FSO) platform to streamline customer experiences.
ROCKVILLE, Md., April 25, 2024 /PRNewswire/ — 3CLogic, the leading Conversational AI and Contact Center solution for ServiceNow®, today announced its selection by a global insurance provider to replace its existing contact center infrastructure as part of a larger CX transformation effort. The strategic decision is designed to complement the organization’s use of ServiviceNow’s Financial Services Operations (FSO) offering leveraged across a number of its existing product lines including Customer Warranty Claims, Roadside Assistance, and Home Warranties.
Serving millions of customers worldwide with innovative insurance and protective products, the organization required a solution that would enhance its recent investment in the ServiceNow platform as it works to transform its end-to-end customer service operations. The deployment will incorporate several of 3CLogic’s AI-powered capabilities purpose-built for ServiceNow, including Conversational AI, Speech Analytics, and AI Performance & Coaching, along with integrated call transcriptions, convenient 2-way SMS, and ServiceNow-centralized contact center reporting.
“We continue to see enterprises eager to complement their existing investment in digital platforms, such as ServiceNow, with contact center features purpose-built to extend the workflows and features they already have and use,” explains Matt Durkin, VP of Global Sales at 3CLogic. “It’s no secret that organizations are already juggling too many systems, often with overlapping capabilities, which impacts ROI and operational efficiency. We’re proud to offer an alternative approach that helps simplify the technology stack while optimizing the overall operational costs and outcomes.”
Recently named to Constellation Research’s 2024 Shortlist for Digital Customer Service and Support, 3CLogic has seen global adoption of its solution by leading enterprises in healthcare, manufacturing, travel, retail, higher education, finance, non-profits, and Managed Service Providers across five continents. As a ServiceNow-certified Technology and Build partner with offerings available for ServiceNow’s IT Service Management, Customer Workflows, HR Service Delivery, and Source-to-Pay solutions, the company will be unveiling its latest set of capabilities at ServiceNow’s annual Knowledge 2024 event this May in Las Vegas.
For more information, please contact [email protected].
About 3CLogic3CLogic transforms customer and employee experiences with its leading Cloud Contact Center and AI solutions purpose-built to enhance today’s leading CRM and Customer Service Management platforms. Globally available and leveraged by the world’s leading brands, its offerings empower enterprise organizations with innovative features such as intelligent self-service, generative and Conversational AI, agent automation & coaching, and AI-powered sentiment analytics – all designed to lower operational costs, maximize ROI, and optimize each interaction across IT Service Desks, Customer Support, Sales or HR Services teams. For more information, please visit www.3clogic.com.
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Leading Breast AI Company, creator of industry-leading Transpara®, promotes from within for new CEO
NIJMEGEN, Netherlands, April 25, 2024 /PRNewswire/ — ScreenPoint Medical, today announced a significant transition in its leadership as Mark Koeniguer, the current CEO, steps down from his position. Mark served as CEO since 2022 and was instrumental in ScreenPoint’s commercial growth and success over the past 2 years.
The company’s Board of Directors has appointed Pieter Kroese as the new Chief Executive Officer effective April 25, 2024. Pieter takes the role after serving as COO of ScreenPoint for over five years. During that time, he has managed the transition of the company from an early startup to a thriving enterprise with hundreds of customers using ScreenPoint’s flagship Transpara software to support millions of scans a year.
“I am thrilled to lead ScreenPoint into its next phase of growth and innovation,” said Mr. Kroese. “I am deeply committed to building upon the strong foundation we have and continuing to work closely with our talented team to drive continued success. We are already expanding screening capacity and capability through proven reader support – we look forward to increasing our ability to support providers and women moving forward.”
Sir Michael Brady, Chairman of the Board at ScreenPoint Medical and a co-founder of the company, expressed enthusiasm about Pieter’s appointment, stating, “Pieter’s remarkable leadership qualities, coupled with his depth of knowledge of our product and industry, make him the perfect choice to lead ScreenPoint into the future. His strategic mindset and commitment to excellence align perfectly with our company mission of early breast cancer detection. Pieter has been an integral part of our growth to date and will provide seamless leadership through this transition into our next chapter for our customers, partners, and team.”
Author of “No Longer Radical” and over a hundred peer-reviewed publications on breast imaging, Dr. Rachel Brem is a Transpara user and ScreenPoint Board Member. Dr. Brem welcomed Mr. Kroese with the following: “Pieter has been an integral part of the ScreenPoint team for years. I am confident that his leadership will continue to deliver product excellence: earlier detection with outstanding reading workflow and improved patient outcomes. We continue to see these results from clinical sites all over the world, including many here in the United States. No other Breast AI solution has demonstrated the same results as Transpara, and I am confident that the team will continue to push on these frontiers under Pieter’s leadership.”
The entire team at ScreenPoint extends its gratitude to Mark Koeniguer and wishes him every success in the future, while warmly welcoming Pieter Kroese into his new role as CEO.
About ScreenPoint Medical
ScreenPoint Medical translates cutting edge machine learning research into technology accessible by radiologists to improve screening workflow, decision confidence and breast cancer risk assessment. Transpara is trusted by radiologists globally because it has been developed by experts in machine learning and image analysis and updated with user feedback from world-renowned breast imagers.
See all the proof at: https://screenpoint-medical.com/evidence.
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WESTFORD, Mass., April 25, 2024 /PRNewswire/ — The growing need for automation, technological developments, and long-term cost reductions are driving a robust expansion in the worldwide robotics market. SkyQuest projects that Global Robotics Market size is poised to grow from USD 41.50 Billion in 2023 to USD 126.96 Billion by 2031, at a CAGR of 15% during the forecast period (2024-2031).
Download a detailed overview:
https://www.skyquestt.com/report/robotics-market
Browse in-depth TOC on the “Robotics Market”
Pages – 202Tables – 64Figures – 75Robotics Market Overview:
Report Coverage
Details
Market Revenue in 2023
$41.50 billion
Estimated Value by 2031
$126.96 billion
Growth Rate
Poised to grow at a CAGR of 15%
Forecast Period
2024–2031
Forecast Units
Value (USD Billion)
Report Coverage
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered
Application, End Users, and Region
Geographies Covered
North America, Europe, Asia Pacific, and the Rest of the world
Report Highlights
Collaborative Robotics
Key Market Opportunities
Prompting Several Industries to Adopt Automation Technologies
Key Market Drivers
Increasing Demand for Automation
Surge of Automation is Supporting Growth of Robotics Industry
The industrial sector is generating high revenues for the global robotics market owing to extensive automation in manufacturing, which increases productivity and lowers overall production costs. Assembly line, painting, and welding robots have become essential, thereby propelling substantial market expansion in the automotive, electronics, and heavy duty sectors. Due to the increased usage of robots for non-manufacturing functions such as customer service, shipping, and healthcare, the services sector is expanding quickly. This rapid growth is being driven by technological improvements and the push for automation in services.
Surge in Advance Robotics is Bolstering Market Growth
The use of robotics in manufacturing processes is growing, and innovation in this field is happening quickly worldwide. By increasing productivity, efficiency, and precision, advanced robotics technologies—such as AI-driven automation systems and collaborative robots, or cobots—are transforming the manufacturing sector. The dominance of manufacturing in the worldwide robotics market is fuelled by the integration of robotics into manufacturing facilities, which helps businesses remain competitive in today’s dynamic market scenario.
Rising Interest in Service Robotics is Driving Demand for Robotics in Asia Pacific
Due to the strong demand for industrial and service robots in the region, Asia Pacific now leads the global robotics industry. China, Japan, and South Korea are among the nations that have made significant investments in the robotics sector recently. The Middle East and Africa are anticipated to register the fastest-growing rate for the global robotics market. The expansion is ascribed to the region’s growing adoption of automation technology, especially in the manufacturing and logistics industries.
Request Free Customization of this report:
https://www.skyquestt.com/speak-with-analyst/robotics-market
Drivers:
Increasing Demand for AutomationAdvancements in AI and Machine Learning TechnologiesRestraints:
High Initial InvestmentsLack of Skilled WorkforceProminent Players in Global Robotics Market:
FANUC America Corporation (US)Epson Robotics (Japan)Staubli International AG (Switzerland)YRG Inc. (US)Comau S.p.A. (Italy)Northrop Grumman Corporation (US)Honda Motor Co., Ltd. (Japan)Seiko Epson Corporation (Japan)Yamaha Motor Co., Ltd. (Japan)Adept Technology, Inc. (US)View report summary and Table of Contents (TOC):
https://www.skyquestt.com/report/robotics-market
Key Questions Answered in Global Robotics Market Report
How big is the global robotics market, and what compound annual growth rate (CAGR) is it anticipated to deliver between 2024 and 2031?Which industries are fuelling the need for automation and fostering the expansion of the robotics sector?What impact have recent technological advancements and innovations had on the direction of the robotics market?Which well-known companies in the robotics industry are also major players in the global robotics market?This report provides the following insights:
Analysis of key drivers (increasing demand for automation across industries, improved the overall efficiency, productivity of the processes, demand for automation), restraints (high initial investments, difficult for small and medium-sized enterprises to invest, robots, sensors, and other equipment required not delivered), opportunities (advancements in AI and machine learning technologies, new opportunities for the robotics market, perform complex tasks with high accuracy), and challenges (lack of skilled workforce, maintenance of these robotics systems) influencing the growth of robotics marketMarket Penetration: Comprehensive information on the product portfolios offered by the top players in the robotics marketProduct Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and product launches in the robotics marketMarket Development: Comprehensive information on lucrative emerging regionsMarket Diversification: Exhaustive information about new products, growing geographies, and recent developments in the marketCompetitive Assessment: In-depth assessment of market segments, growth strategies, revenue analysis, and products of the leading market players.Related Reports:
Global Service Robotics Market
Global Soft Robotics Market
Global Warehouse Robotics Market
Global Cloud Robotics Market
Global Robotic Welding Market
About Us:
SkyQuest is an IP focused Research and Investment Bank and Accelerator of Technology and assets. We provide access to technologies, markets and finance across sectors viz. Life Sciences, CleanTech, AgriTech, NanoTech and Information & Communication Technology.
We work closely with innovators, inventors, innovation seekers, entrepreneurs, companies and investors alike in leveraging external sources of R&D. Moreover, we help them in optimizing the economic potential of their intellectual assets. Our experiences with innovation management and commercialization have expanded our reach across North America, Europe, ASEAN and Asia Pacific.
Contact:Mr. Jagraj SinghSkyquest Technology1 Apache Way,Westford,Massachusetts 01886USA (+1) 351-333-4748Email: [email protected] Our Website: https://www.skyquestt.com/
View original content:https://www.prnewswire.co.uk/news-releases/robotics-market-to-surpass-usd-126-96-billion-by-2031–skyquest-technology-302127230.html
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