Artificial Intelligence
Semiconductor Wafer Market is Expected to Touch USD 40 Billion by 2027 at 3.8% CAGR – Report by Market Research Future (MRFR)
New York, US, Aug. 27, 2021 (GLOBE NEWSWIRE) — Market Overview:
According to a comprehensive research report by Market Research Future (MRFR), “Global Semiconductor Wafer Market information by Process, Application and Region – forecast to 2027” the market is expected to grow at the US $40 billion by 2027 with CAGR of 3.8%.
Dominant Key Players on Semiconductor Wafer Market Covered Are:
- Applied Materials (U.S.)
- ASM International (U.S.)
- Nikon (Japan)
- Hitachi High-Technologies Corporation (Japan)
- Screen Semiconductor Solutions (Japan)
- Hitachi Kokusai (Japan)
- KLA-Tencor Corporation (Japan)
- ASML Holding (Netherlands)
- Tokyo Electron Limited (Japan)
- Lam Research Corporation (U.S.)
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Semiconductor Wafer Market Drivers
Increasing Penetration of 5G Technology to Boost Market Growth
The increasing penetration of 5G technology by businesses will boost market growth over the forecast period. Businesses are shifting towards 5G connectivity with the hope of enhancing operational efficiency and increasing the transaction volumes. 5G network yields almost 20 times faster speeds and also reduced download times, hence make it ideal for applications in smart city development and automotive. The semiconductor wafer manufactured with gallium nitride (GaN) is likely to become highly renowned with the capacity of attaining a power-added efficiency of 50% more. Moreover, domains like autonomous vehicles, augmented reality, and artificial intelligence are likely to use 5G technology on a wide scale.
Opportunities
Surging Need across Vehicular Safety to offer Robust Opportunities
The surging need for semiconductor wafer across vehicular safety will offer robust opportunities to the market over the forecast period. With process automation increasing inroads in the automotive industry, the popularity of self-driving vehicles is getting credible momentum. The different complex chips governing the functioning of all systems should be protected against electrical faults that can undermine advanced features like collision avoidance. The auto industry makes it a must for rendering mechanical engineering more safety conscious. The standard provides strict guidelines to manufacture chips that are impervious to faulty signals and effects induced via overlocking, age, sunlight, and other radiation types. These vital legislative developments are allowing semiconductor wafer manufacturers in enhancing their production and also scale of operations across different regions.
High Cost to act as Market Restraint
The high cost of semiconductor wafer manufacturing owing to high initial investment to establish manufacturing unit may act as a market restraint over the forecast period.
Presence of Toxic Chemicals to act as Market Challenge
Semiconductor wafer manufacturers use toxic chemicals that can harm the environment which can act as a market challenge over the forecast period.
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Segmentation of Market Covered in the Research:
The global semiconductor wafer market is segmented based on process and application.
By process, the FEOL segment will lead the market over the forecast period.
By application, the automotive segment will dominate the market over the forecast period for the surge in automotive production across key regions. Semiconductor wafers are widely used for designing navigation, infotainment, and collision detection in cars.
Regional Analysis
APAC to Precede Semiconductor Wafer Market
The APAC region will precede this market over the forecast period. The region being a hub for various OEM manufacturers and potential economy like India and China, the region being a producer of semiconductor wafers, and the expanding mechanical advancement in the gadgets and car industry are adding to the semiconductor wafer market growth in the region.
North America to Have Admirable Growth in Semiconductor Wafer Market
North America will have admirable growth in the market. Robust need of microchip for various smart electronics application, growing ownership of 5G-enabled technological devices, different end-use applications ranging from artificial intelligence, connected devices, and IoT effectively leveraging semiconductor wafers, and defense & commercial applications involving 5G technologies are adding to the global semiconductor wafer market growth in the region.
Europe to Have Robust Growth in Semiconductor Wafer Market
Europe will have robust growth in the market over the forecast period. Extensive applications of semiconductor wafer across the automotive industry, increased investments by prominent market players, the presence of top players such as Infineon Technologies in Austria that offer semiconductor and system solutions that facilitate energy efficiency, security and mobility concepts, and the company offering semiconductor solutions for the chip card and security solutions industrial power control, power management and multimarket, and automotive are adding to the global semiconductor wafer market growth in the region.
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COVID-19 Analysis
During the COVID-19 pandemic, the semiconductor wafers market is likely to vary across various end use industries. In the midst of the emergency, the market assessed at USD 9.7 billion in the year 2020 and is likely to arrive at an overhauled size of USD 13.4 billion by 2027, growing at a 4.7% CAGR during 2020-2027. Customer electronics is likely to grow at a 5.4% CAGR and touch USD 7.1 billion. Post investigation of the outbreak’s business ramifications and its actuated financial emergency, the development in the industrial fragment is straightened out to an overhauled 4.9% CAGR. Continental AG, a German auto supplier giant stated that a rebound in Chinese demand following a global sales slump owing to the pandemic has led to a shortage of semiconductors that may create bottlenecks till 2021, irrespective of prompt responses from the semiconductor manufacturers.
The demand is likely to remain sustained in the wake of the soaring consumer electronic sales in the last few months. India for instance registered a double digit growth in the consumer electronics and appliances segment since September 2020, for the onset of the festive season thus bolstering uptake of semiconductor wafer components. Samsung India, for instance, reported a 32% growth with regards to refrigerators, microwaves, washing machines, and televisions, thus widening the scope of semiconductor wafer sales.
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Industry Updates
SK Siltron, leading semiconductor wafer manufacturer has announced plans of investing $300 million and create up to 150 high-paying, skilled jobs in Bay County. The company manufactures a specialty wafer made of silicon carbide which can be utilized in the semiconductor power components of electric vehicles.
About Market Research Future:
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis regarding diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
Artificial Intelligence
Identity Governance & Administration Market Projected to Reach $24.42 billion by 2030 – Exclusive Report by 360iResearch
PUNE, India, April 25, 2024 /PRNewswire/ — The report titled “Identity Governance & Administration Market by Component (Services, Solution), Modules (Access Certification & Compliance Control, Access Management, Identity Lifecycle Management), Organization Size, Deployment, Vertical – Global Forecast 2024-2030” is now available on 360iResearch.com’s offering, presents an analysis indicating that the market projected to grow from a size of $8.46 billion in 2023 to reach $24.42 billion by 2030, at a CAGR of 16.34% over the forecast period.
“Navigating Global Identity Governance With Key Strategies for Digital Security and Compliance”
Identity governance and administration (IGA) has emerged as a critical policy-driven approach aimed at fortifying digital identities within organizations, ensuring that proper access is provided to the right individuals for valid reasons. Across the globe, the demand for IGA solutions is on the rise, driven by the need to tackle sophisticated cyber threats, comply with stringent data protection laws, and adapt to the digitization wave sweeping through industries. Challenges include integrating these solutions with pre-existing IT frameworks, primarily in organizations reliant on legacy systems. The North American market, led by the United States and Canada, is at the forefront of this expansion, embracing technological advancements and stringent regulatory standards. Meanwhile, the Europe, Middle East, and Africa (EMEA) region is navigating its unique landscape, with the EU focusing heavily on compliance through GDPR and the Middle East and Africa gradually recognizing the value of digital security. The Asia-Pacific region is witnessing a significant uptrend in IGA solutions adoption, spurred by digital transformation initiatives and cybersecurity awareness, with China and India playing pivotal roles. This global perspective highlights the universal importance of IGA in today’s digital era, highlighting the critical balance between innovation, security, and regulatory compliance in safeguarding digital identities.
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“Navigating the New Normal With The Crucial Role of Identity Governance in Securing Hybrid Work Environments”
As businesses globally embrace the fusion of remote and traditional office work, the need for secure, hybrid workspaces becomes paramount. The shift toward flexible working models, accelerated by the COVID-19 pandemic, highlights the importance of cybersecurity and accessibility in ensuring operational continuity and a better work-life balance. Identity governance & administration (IGA) systems emerge as essential tools within this evolving work landscape. They enable organizations to manage digital identities and access rights effectively, safeguarding sensitive data against unauthorized access across diverse working environments. By ensuring that only credentialed employees can access critical information, regardless of their physical location, IGA solutions stand at the forefront of maintaining cybersecurity compliance and operational integrity. This development signifies a growing demand for robust identity governance frameworks, ensuring businesses remain resilient and secure in remote work and beyond.
“Elevating Security and Efficiency in Organizations through Specialized Identity Governance & Administration Services”
Managed and professional services provide organizations with the specialized expertise necessary for optimizing the performance and security of identity governance & administration (IGA) systems, eliminating the need for such in-depth knowledge internally. Businesses benefit from advanced skills that enhance system functionality and safeguard sensitive data by outsourcing specific IGA tasks. From the initial stages of integration and implementation, ensuring seamless incorporation with existing infrastructures, to ongoing support and maintenance for consistent system reliability and up-to-dateness, these services form the foundation of effective IGA strategies. Furthermore, training and consulting play a pivotal role, equipping companies with the understanding and capability to utilize their IGA systems to the fullest. IGA solution is a critical technological tool designed to streamline the management of user access rights across organizations, bolstering security, operational efficiency, and compliance with regulatory standards. This comprehensive approach to IGA facilitates a more secure, efficient, and compliant organizational environment, empowering businesses to focus on core objectives and ensure their data remains protected.
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“International Business Machines Corporation at the Forefront of Identity Governance & Administration Market with a Strong 7.09% Market Share”
The key players in the Identity Governance & Administration Market include Broadcom, Inc., SAP SE, Oracle Corporation, Microsoft Corporation, International Business Machines Corporation, and others. These prominent players focus on strategies such as expansions, acquisitions, joint ventures, and developing new products to strengthen their market positions.
“Introducing ThinkMi: Revolutionizing Market Intelligence with AI-Powered Insights for the Identity Governance & Administration Market”
We proudly unveil ThinkMi, a cutting-edge AI product designed to transform how businesses interact with the Identity Governance & Administration Market. ThinkMi stands out as your premier market intelligence partner, delivering unparalleled insights with the power of artificial intelligence. Whether deciphering market trends or offering actionable intelligence, ThinkMi is engineered to provide precise, relevant answers to your most critical business questions. This revolutionary tool is more than just an information source; it’s a strategic asset that empowers your decision-making with up-to-the-minute data, ensuring you stay ahead in the fiercely competitive Identity Governance & Administration Market. Embrace the future of market analysis with ThinkMi, where informed decisions lead to remarkable growth.
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“Dive into the Identity Governance & Administration Market Landscape: Explore 197 Pages of Insights, 654 Tables, and 26 Figures”
PrefaceResearch MethodologyExecutive SummaryMarket OverviewMarket InsightsIdentity Governance & Administration Market, by ComponentIdentity Governance & Administration Market, by ModulesIdentity Governance & Administration Market, by Organization SizeIdentity Governance & Administration Market, by DeploymentIdentity Governance & Administration Market, by VerticalAmericas Identity Governance & Administration MarketAsia-Pacific Identity Governance & Administration MarketEurope, Middle East & Africa Identity Governance & Administration MarketCompetitive LandscapeCompetitive PortfolioInquire Before Buying @ https://www.360iresearch.com/library/intelligence/identity-governance-administration
Related Reports:
Privileged Identity Management Market – Global Forecast 2024-2030Identity & Access Management Professional Services Market – Global Forecast 2024-2030Digital Identity Solutions Market – Global Forecast 2024-2030About 360iResearch
Founded in 2017, 360iResearch is a market research and business consulting company headquartered in India, with clients and focus markets spanning the globe.
We are a dynamic, nimble company that believes in carving ambitious, purposeful goals and achieving them with the backing of our greatest asset — our people.
Quick on our feet, we have our ear to the ground when it comes to market intelligence and volatility. Our market intelligence is diligent, real-time and tailored to your needs, and arms you with all the insight that empowers strategic decision-making.
Our clientele encompasses about 80% of the Fortune Global 500, and leading consulting and research companies and academic institutions that rely on our expertise in compiling data in niche markets. Our meta-insights are intelligent, impactful and infinite, and translate into actionable data that support your quest for enhanced profitability, tapping into niche markets, and exploring new revenue opportunities.
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Artificial Intelligence
Enghouse Video Partners With SONIFI Health To Deliver Advanced Telehealth Solutions In Hospital Rooms
MARKHAM, ON, April 25, 2024 /PRNewswire/ — Enghouse Video, a global leader in cutting-edge video technology solutions, today announced its partnership with SONIFI Health, enhancing virtual care in hospital settings.
SONIFI Health is a leading U.S. healthcare technology company based in Sioux Falls, South Dakota. The new partnership leverages and integrates Enghouse Video room systems technology to support SONIFI Health’s commitment to expanding telehealth applications and system optimizations in hospital settings.
Enghouse’s VidyoRooms solution, a sophisticated video conferencing technology that combines both software and hardware solutions, has been fully integrated into SONIFI Health’s interactive TV systems. This integration provides up to 4K high-quality video conferencing, multi-party sessions and robust security features that ensure full compliance with healthcare regulations.
Enghouse Video offers an immersive telehealth platform to support collaborative interdisciplinary care, improved patient outcomes and cost savings. The platform is flexible and simple, delivering the reliability, interoperability, and scalability needed for today’s healthcare environment. A key strength of the partnership is its offering of back-end integrations like patient portals, medical devices, EMR, tele-sitting, remote patient observation and consultation.
“Hospitals can choose the telehealth partner that’s right for them, and we incorporate that solution with interactive TV,” said Brian Nido, SONIFI Health’s Vice President of Customer Success. “Using the hardware and systems they already have in patient rooms helps hospitals reduce costs and maximize the value of their existing investments, while benefiting both clinicians and patients.”
SONIFI Health and Enghouse Video continue to collaborate closely to further refine and enhance the telehealth solutions provided to healthcare facilities. This partnership reflects a shared commitment to leveraging technology to create smarter hospital rooms and improve patient care across the healthcare spectrum.
About Enghouse VideoEnghouse Video, part of the Enghouse Interactive division, is a subsidiary of Enghouse Systems Limited, a vertically focused software and services company traded on the Toronto Stock Exchange (TSX: ENGH). Through highly secure, scalable and flexible Cloud-based or On Prem services, we deliver one of the world’s highest quality and most innovative video platform to video-enable any application or idea. From advanced video conferencing and collaboration tools to state-of-art enterprise video management, Enghouse Video is a unique player in multiple markets, including telehealth. Learn more at www.enghousevideo.com, read our blog, or follow us on Twitter at @EnghouseVideo, on LinkedIn, and on Facebook.
About SONIFI HealthSONIFI Health provides market-leading interactive patient engagement technology proven to improve patient outcomes and staff productivity. The EHR-integrated platform is designed to enhance patient and family experiences while increasing staff satisfaction and organizations’ operational efficiencies. As part of SONIFI Solutions, Inc., the company annually supports more than 300 million end user experiences. Learn more at sonifihealth.com.
Enghouse Video Contact: Sylvain Awad, Director, Demand Generation, Enghouse Video, part of Enghouse Interactive Division, [email protected]
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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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