Artificial Intelligence
Microelectromechanical Systems (MEMS) Market to Surpass US$ 48,595.4 Million by 2030, Says Coherent Market Insights (CMI)
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Burlingame, March 27, 2023 (GLOBE NEWSWIRE) — According to Coherent Market Insights, the global microelectromechanical systems (MEMS) market is estimated to be valued at US$ 23,858 million in 2021 and is expected to exhibit a CAGR of 8.23% during the forecast period (2023-2030).
Analyst’s Views on Global Microelectromechanical Systems (MEMS):
Global Microelectromechanical systems market growth is expected to grow over the forecast period, owing to high demand in the Automotive Industry as MEMS are utilized widely in electric vehicles for automation such as providing drivers information about the health of their car checking it up physically. For instance, in November 2022, NXP Semiconductors launched the S32K93 series of automotive microcontrollers which are to be used in Electric Vehicle control applications. These MCUs reduces costs of the system and assists in remote smart actuation.
Global Microelectromechanical Systems (MEMS)– Drivers
Increasing use of MEMS in Home Automation
Many environmental sensors are frequently used in smart homes to gather information about regular human activity. The network, the controlling devices, and the home automation makes a smart home. This sensors are used in many devices, and can be controlled by the smartphone to handle electronic devices in the house like the lights, AC, cameras, and others. The trend of creating automated house in the market is expected to drive the global MEMS market growth. For instance, in June 2022, Hogar Controls, a leading provider of IoT and smart home solutions, launched a brand-new line of smart touch panels, premium controllers, electronic door locks, and smart curtain motors in the Indian market.
Rising popularity of Internet of Things (IoT) to boost market pace
The term “Internet of Things” (IoT) refers to a network of physical objects, or “things,” that have sensors, software, and other technologies built into them in order to connect to and exchange data with other systems and devices over the internet. It indicates that sensors are used by common devices like vacuum cleaners, vehicles, and robots to collect data and respond to users. For instance, in February 2023, Quest global, a engineering services and solutions provider, and NVIDIA, a technology company, collaborated to develop digital twin solutions for the automotive and manufacturing sectors on NVIDIAs Omniverse Enterprise Platform.
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Microelectromechanical Systems (MEMS) Market Report Coverage
| Report Coverage | Details | |||
| Base Year: | 2021 | Market Size in 2021: | US$ 23,858 Mn | |
| Historical Data for: | 2017 to 2020 | Forecast Period: | 2022 to 2030 | |
| Forecast Period 2022 to 2030 CAGR: | 8.23% | 2030 Value Projection: | US$ 48,595.4 Mn | |
| Geographies covered: |
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| Segments covered: |
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| Companies covered: |
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| Growth Drivers: |
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| Restraints & Challenges: |
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Global Microelectromechanical Systems (MEMS)– Restraint
High cost of MEMS
For any new MEMS design or devices, the research and development phase is expensive. Even after the research and development of the new MEMS devices, the foundry facilities and fabrication cleanrooms needs very high upfront setup costs that makes up the high cost of devices at the end. For instance, in November 2022, according to Analytics India Magazine, cost of a fabrication plant to manufacture a silicon photonics or compound semiconductor fabrication is upto US$ 40 Million. Therefore, MEMS are not appropriate for specialized applications. Also, it can be costly to purchase the testing tools needed to evaluate the performance and quality.
Global Microelectromechanical Systems (MEMS)– Opportunity
Growing Automotive Sector
Growing automotive sector around the world is expected to offer lucrative business opportunities in the global microelectromechanical systems (MEMS) market during the forecast period. The automotive industry uses 20 MEMS devices per car. Moreover, the popular concept of autonomous cars is based on the data that is gathered by different MEMS sensors such as accelerometer, speed sensors, proximity sensors, position sensors, and others. Thus, rising adoption of fully autonomous cars is creating several growth opportunities in the market. For instance, in June 2022 Cruise LLC, a self driving car manufacturer, provided paid rides to the general public of California.
Global Microelectromechanical Systems (MEMS)– Cross Sectional Analysis
Among MEMS type, the sensor segment is dominant during the forecast period, due to increasing use of sensors in consumer electronics, and this is expected to drive segment growth over the forecast period. For instance, in February 2023, Melexis, a multinational engineering firm that specialises in microelectronics, launched MLX90824, a new line of pressure sensor integrated devices. It is designed for managing engines of automobiles.
Global Microelectromechanical Systems (MEMS)– Segmentation
Global Microelectromechanical Systems (MEMS) Market report is segmented into type, application, and region
Based on Type, global microelectromechanical systems (MEMS) market is segmented into sensor (gyroscopes, accelerometers, pressure sensor, inertial combos, microphones, magnetometers, and others), actuator (inkjet systems, optical mems, oscillators & resonators, microfluidic & biochip, Radio Frequency MEMS, and others). Out of which, the sensor segment is expected to dominate the global microelectromechanical systems (MEMS) market during the forecast period, due to increasing usage of sensors in home automation.
Based on Application, global microelectromechanical systems (MEMS) market is segmented into consumer electronics, automotive, industrial, aerospace & defense, healthcare, and telecommunication. The consumer electronics segment is expected to dominate the market over the forecast period, as consumers are preferring automated appliances in their homes.
Based on Region, global microelectromechanical systems (MEMS) market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East and Africa.
Global Microelectromechanical Systems (MEMS)– Key Developments
In October 2022, Bosch Sensortec, a provider of sensing solutions, launched the BMI323, a low-cost inertial measurement unit (IMU) with high performance and built-in capabilities for quick development of consumer applications . The BMI323’s accessibility and affordable pricing ratio. Identical to its predecessor, the BMI160, the new BMI323 is a common-purpose, low power IMU that is used for angle & position detection in notebooks & tablets, toys & gadgets, game controllers & smart remote controls, in wearables and others.
In May 2022, STMicroelectronics partnered with AWS, an IT service management company and with Microsoft, a software and operating system developer, to increase its presence in the IoT space. STMicroelectronics provides a reference implementation for the AWS cloud that enablesa simpler and more secure connectivity of IoT devices. STMicroelectronics works with Microsoft to improve the security of new IoT applications.
In May 2022, Broadcom Inc., a infrastructure technology company, launched its Ethernet switch device named BCM8958X. This device is engineered to support the adoption of software defined vehicles, and to handle increasing bandwidth need for in-vehicle networking applications.
In April 2021, STMicroelectronics, a semiconductor manufacturer company, announced the launch of the AIS2IH three-axis linear accelerometer that delivers increased resolution, temperature stability, and mechanical durability for automotive applications other than safety such as anti-theft, telecommunications, entertainment, tilt/inclination evaluation, and target tracking.
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Key Market Takeaways:
Global microelectromechanical systems (MEMS) market was valued at US$ 23,858 Mn in 2021 and is expected to reach a value of US$ 48,595.4 Mn by 2030 at a CAGR of 8.23% between 2022 and 2030
Increasing demand for consumer electronics market is expected to drive the global microelectromechanical systems market growth. Thus, players involved in the manufacturing of these systems are focusing on the development of microelectromechanical systems. For instance, in 2021, Bosch Sensortec, launched The BME688, the smallest four-in-one air quality measuring system. It has the sophisticated artificial intelligence (AI) capability combined with sensing for gases, humidity, temperature, and barometric pressure that makes it the first air-quality MEMS sensor. By using BME688, customers can lower their overall cost of ownership, and can accelerate the development of new products, and simplify their design.
Asia Pacific is expected to witness substantial growth in the global microelectromechanical systems (MEMS) market over the forecast period, owing tolarge number of semiconductors manufacturing industries in this region. Strong presence of automotive components and consumer electronics industries in countries such as South Korea, Taiwan, and China, is driving the microelectromechanical systems technology in this region. Moreover, low cost of raw materials and labor leads to reduced production costs, and this is expected to drive the market growth in the region.
Competitive Landscape:
Key players operating in the global microelectromechanical systems (mems) include STMicroelectronics, Robert Bosch, Analog Devices, NXP Semiconductors, Texas Instruments, Panasonic Corp., TE Connectivity, Broadcom, Honeywell International, Knowles Corp. LLC, among others
Market Segmentation:
Global Microelectromechanical Systems (MEMS) Market, By Type
- Sensor
- Gyroscopes
- Accelerometers
- Pressure Sensor
- Inertial Combos
- Microphones
- Magnetometers
- Others
- Actuator
- Inkjet Systems
- Optical MEMS
- Oscillators & Resonators
- Microfluidic & Biochip
- RF MEMS
- Others
Global Microelectromechanical Systems (MEMS) Market, By Application
- Consumer Electronics
- Automotive
- Industrial
- Aerospace & Defense
- Healthcare
- Telecommunication
Global Microelectromechanical Systems (MEMS) Market, By Geography
- North America
- By Country:
- U.S.
- Canada
- By Country:
- Europe
- By Country:
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Rest of Europe
- By Country:
- Asia Pacific
- By Country:
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- By Country:
- Latin America
- By Country
- Brazil
- Argentina
- Mexico
- Rest of Latin America
- By Country
- Middle East & Africa
- By Country/Region:
- GCC Countries
- South Africa
- Rest of Middle East and Africa
- By Country/Region:
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About Us:
Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having sales office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 57 countries worldwide. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.
Artificial Intelligence
Ancoris Recognised as Top Place to Work for Second Year Running by The Sunday Times
Ancoris recognised for fostering a sense of empowerment and respect within the workplace91% of Ancoris employees feel empowered at work93% of employees say that are treated with respectLONDON, May 21, 2024 /PRNewswire/ — Ancoris, a UK-based Google Cloud services provider, has been named a Top Medium Business in The Sunday Times 2024 Best Places to Work list. The accolade has been awarded for the second year in a row, and recognises Ancoris’ focus on DEI; its commitment to empowerment, reward, and recognition; and its wellbeing policies and frameworks.
“I am so pleased to see Ancoris recognised, once again, as a top place to work!” says Andre Azevedo, Ancoris CEO. “Ancoris is a place where we try our best to foster collaboration, empowerment, innovation, and respect – so to have our employees echo this and respond in the way they have is amazing.”
The Sunday Times survey captured Ancoris employees’ responses in a number of categories: Reward and Recognition, Information Sharing, Empowerment, Wellbeing, Instilling Pride, and Job Satisfaction. The independently managed survey showed Ancoris scoring “excellent” across all six engagement categories, with top scores in Empowerment, Wellbeing, Reward & Recognition. In response, 93% of employees say they are treated with respect; 92% feel trusted and able to make decisions; and 91% of employees feel empowered at work.
“We’ve seen a lot of change over the last 12 months. The rise of Generative AI has caused shifts in our market and economic conditions are causing customers to really qualify where they make technology investments. These pivots undoubtedly have an impact on our employees and how people feel at work,” Azevedo continues. “I truly believe, however, the innovative work we are doing for our customers has helped us maintain and create an even stronger sense of collaboration and pride for our team members. We’re lucky to have so many smart people within our business, so continuing to give them interesting, challenging, and rewarding problems to solve for our customers is really key.”
About AncorisAncoris is a leading Google Cloud Services Provider, headquartered in the UK, on a mission to become the most innovative Google Cloud partner in the ecosystem. Ancoris leverages its strong problem solving skills and continuous improvement approach to help customers become AI Native and stay ahead of their competition. Ancoris has extensive experience in Google Cloud technologies helping enterprises integrate AI-native solutions into their business through expertise in Data & AI, Application and Infrastructure Modernisation, Workspace, and Maps. Ancoris was recognized as a Rising Star for Data, Analytics, and Machine Learning in the ISG Provider™ Lens for Google Cloud Partner Ecosystem in 2022 and 2023 consecutively, and awarded Google Cloud’s 2024 EMEA Public Sector Partner of the Year award. Ancoris employs the best in the business and was named in the Top 10 Sunday Times Best Places to Work 2023, and a Top Place to Work in 2024.
Contact: Holly [email protected]
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Artificial Intelligence
Department of Health – Abu Dhabi Partners with Roche Pharmaceuticals Middle East to Elevate Research, Clinical Trials, and Real-World Data
ABU DHABI, UAE, May 21, 2024 /PRNewswire/ — The Department of Health – Abu Dhabi (DoH), the regulator of the healthcare sector in the Emirate, signed a Memorandum of Understanding (MoU) with Roche Pharmaceuticals Middle East during Abu Dhabi Global Healthcare Week (ADGHW). Under the MoU, the two entities will advance critical research using real-world data to study and assess the spinal muscular atrophy burden in Abu Dhabi, as well as assessing potential conduction of research and the facilitation of real-world data collection to monitor Duchenne Muscular Dystrophy (DMD) disease.
In the presence of Dr. Rashed Alsuwaidi, the Executive Director of the Healthcare Workforce Planning Sector at DoH and Michael Oberreiter, Head of Global Access at Roche Pharmaceuticals, the MoU was signed by Dr. Asma Al Mannaei, the Executive Director of the Research and Innovation Centre at DoH and Mohamed Elshaarawy, General Manager Roche Pharmaceuticals, UAE.
Dr. Asma Ibrahim Al Mannaei, Executive Director of the Research and Innovation Center at the at DoH said: “Abu Dhabi has a track record of excellence and fast-growing, future-forward, data-enabled services. Serving as a hub for healthcare data, Abu Dhabi’s substantial computing power enables it to harness the potential within this data, transforming it into valuable information. This, in turn, allows us to innovate and develop novel approaches to shift healthcare towards prediction, prevention, and treatment, thereby accelerating the future of healthcare, not only for Abu Dhabi but for the global community. Through international collaborations, Abu Dhabi seeks to lead research groups supported by global partners to explore the resilience and sustainability of the healthcare sector worldwide as well as expand access to quality care for patients around the world.”
The two entities will work together to support the evolution of real-world data collection frameworks in Abu Dhabi. Enhancing DoH’s ability to track and monitor outcomes of therapies will support DoH in making informed clinical and policy decisions for better optimisation of patient outcomes. Furthermore, DoH and Roche will strengthen the research network across Abu Dhabi and improve accrual for potential clinical trials.
Mohamed Elshaarawy, General Manager Roche Pharmaceuticals, UAE said: “This MoU underscores our collaboration with the DoH which is fuelled by a shared vision of harnessing the power of data to drive informed decision-making within the healthcare system. Data-driven healthcare systems hold immense potential to revolutionise patient care and outcomes. Through the generation, utilisation, and realisation of data, healthcare professionals and policymakers can unlock valuable insights, identify trends, and make evidence-based decisions. This data-driven approach enables us to optimise resource allocation, personalise treatment approaches, and ultimately achieve better patient outcomes. By harnessing the full potential of data, we can improve the overall efficiency and effectiveness of the healthcare system, ensuring that every patient receives the highest quality of care tailored to their specific needs. We are sincerely grateful for the trust, confidence, and empowerment the DoH has placed in establishing this effective public-private partnership with Roche in the UAE.”
Held under the patronage of His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Chairman of Abu Dhabi Executive Council, ADGHW is a major government initiative by the DoH, which took place from the 13th -15th May 2024.
For more information please visit: https://www.adghw.com/
About Department of Health – Abu Dhabi (DoH):
The DoH is the regulatory body of the healthcare sector at the Emirate of Abu Dhabi and ensures excellence in healthcare by monitoring the health status of the population. DoH defines the strategy for the health system, monitors and analyses the health status of the population and performance of the system. In addition, DoH shapes the regulatory framework for the health system, inspects against regulations, enforce standards, and encourages adoption of world-class best practices and performance targets by all healthcare service providers in the Emirate. DoH also drives programmes to increase awareness and adoption of healthy living standards among the residents of the Emirate of Abu Dhabi in addition to regulating scope of services, premiums and reimbursement rates of the health system.
For further information on DoH, visit https://www.doh.gov.ae/ and follow on X, Instagram, Facebook, LinkedIn and YouTube.
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Artificial Intelligence
Biopharma Leaders Shape the Future of Drug Development at Veeva R&D and Quality Summit Europe
Ascendis, Bayer, Boehringer Ingelheim, Jazz Pharmaceuticals, Novo Nordisk, Sanofi, and Teva to keynote sharing innovations to drive better patient outcomes
BARCELONA, Spain, May 21, 2024 /PRNewswire/ — Veeva Systems (NYSE: VEEV) today announced that leaders from Ascendis Pharma A/S, Bayer, Boehringer Ingelheim, Jazz Pharmaceuticals, Novo Nordisk, Sanofi, and Teva will be keynote speakers at Veeva R&D and Quality Summit, Europe, June 4-5 in Madrid, Spain. Life sciences professionals across the industry will come together to share how connected technologies across clinical, regulatory, safety, and quality are advancing innovations for patients.
As one of the largest gatherings of biopharma leaders in Europe, Veeva R&D and Quality Summit will bring together over 1,000 industry professionals to share learnings across more than 100 sessions. Bayer and Jazz Pharmaceuticals will join Rik Van Mol, senior vice president of Veeva Development Cloud, and Avril England, general manager of Veeva Vault, for the opening keynote to explore the future of development for new medicines and therapies.
The event’s zone keynotes include:
Ascendis and Bayer, sharing strategies to reduce costs and accelerate trials with a connected platform.Boehringer Ingelheim, detailing its shift toward data-centric regulatory information management.Novo Nordisk, showing how it uses data and AI to transform clinical research.Sanofi, explaining its innovative approach to advance quality through operational excellence.Teva, providing insight into its rapid journey from disparate safety systems into one streamlined global solution.A panel with Elpida Therapeutics CEO Terry Pirovolakis and Veeva experts will close the event with a discussion on how the industry can best accelerate the development of life-saving rare disease gene therapies.
“Connecting clinical, regulatory, safety, and quality is key to advancing the product lifecycle and delivering better outcomes for patients,” says Rik Van Mol, senior vice president of Veeva Development Cloud. “At Veeva R&D and Quality Summit, biopharma leaders can connect, exchange ideas, and share new strategies to advance the industry forward together.”
Veeva R&D and Quality Summit is open exclusively to life sciences professionals. Register and review the agenda at veeva.com/eu/Summit.
Additional InformationConnect with Veeva on LinkedIn: linkedin.com/company/veeva-systems
About Veeva SystemsVeeva is the global leader in cloud software for the life sciences industry. Committed to innovation, product excellence, and customer success, Veeva serves more than 1,000 customers, ranging from the world’s largest biopharmaceutical companies to emerging biotechs. As a Public Benefit Corporation, Veeva is committed to balancing the interests of all stakeholders, including customers, employees, shareholders, and the industries it serves. For more information, visit veeva.com/eu.
Veeva Forward-looking StatementsThis release contains forward-looking statements regarding Veeva’s products and services and the expected results or benefits from use of our products and services. These statements are based on our current expectations. Actual results could differ materially from those provided in this release and we have no obligation to update such statements. There are numerous risks that have the potential to negatively impact our results, including the risks and uncertainties disclosed in our filing on Form 10-K for the fiscal year ended January 31, 2024, which you can find here (a summary of risks which may impact our business can be found on pages 9 and 10), and in our subsequent SEC filings, which you can access at sec.gov.
Contact:
Jeremy WhittakerVeeva [email protected]
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