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Next-Generation Memory Market worth $17.7 billion by 2028 – Exclusive Report by MarketsandMarketsâ„¢

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CHICAGO, Aug. 21, 2023 /PRNewswire/ — The next-generation memory market is projected to grow from USD 6.2 billion in 2023 to reach USD 17.7 billion by 2028; it is expected to grow at a Compound Annual Growth Rate (CAGR) of 23.2% from 2023 to 2028 according to a new report by MarketsandMarketsâ„¢. The growth of the next-generation memory market is driven by growing adoption of next-generation memory solutions in automotive sector to handle evolving data and computational needs, and suring adoption of next-generation memories in smartphones and smart wearables.
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Browse in-depth TOC on “Next-Generation Memory Market” 
200 – Tables67 – Figures270 – Pages
Next-Generation Memory Market Report Scope:
Report Coverage
Details
Market Revenue in 2023
$6.2 billion
Estimated Value by 2028
$17.7 billion
Growth Rate
Poised to grow at a CAGR of 23.2%
Market Size Available for
2019–2028
Forecast Period
2023–2028
Forecast Units
Value (USD Million/Billion)
Report Coverage
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered
By Technology, Wafer Size and Region
Geographies Covered
North America, Europe, Asia Pacific, and Rest of World
Key Market Challenge
Higher design costs due to lack of standardized manufacturing processes
Key Market Opportunities
Increasing adoption of next-generation memory technologies in embedded systems and IoT devices
Key Market Drivers
Increasing demand for memory devices that provide fast access and consume minimal power
 
By technology, the MRAM is projected to hold the largest share of the next-generation memory market during the forecast period.
The magento-resistive random-access memory (MRAM) segment held the larger market share in 2022. MRAM technology uses magnetic states for storing the data bits. This memory is well commercialized among next-generation non-volatile memory technologies. MRAM is one of the top and preferred memory technologies in smart gadgets. The data is stored by the intersection of two ferromagnetic wires, one of which is a permanent magnet and is placed at a particular polarity. The MRAM structure consists of a grid of magnetic tunneling junctions (MTJs). MTJs consist of two ferromagnetic plates, each of which can hold a magnetic field. Currently, this memory is used in niche applications, but industry experts believe that this technology is capable of replacing traditional memory technologies used in all applications.
Healthcare application segment is projected to grow at high CAGR of the next-generation memory market during the forecast period.
The healthcare application segment is expected to grow at a high CAGR in the next-generation memory industry during the forecast period. This can be attributed to promising applications of next-generation memories in the healthcare sector. Their unique properties, such as low power consumption, fast access times, and non-volatility, make them suitable for a wide range of healthcare-related applications, including medical devices, pacemakers, remote monitoring and telemedicine, medical imaging, electronic health records (EHR), medical wearables, biomedical research, and data logging, among others.
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Asia Pacific is expected to hold the largest share in the market by 2028.
The Asia Pacific region is expected to hold the largest share of the next-generation memory market during the forecast period. Asia Pacific is one of the key markets for next-generation memory technologies owing to the tremendous scope for these technologies in various applications. This can be mainly attributed to the high adoption of consumer electronics, especially smartphones, tablets, and laptops, in Asia Pacific, which makes it a high-potential market for consumer electronics. The increasing demand for memory in consumer electronics is driving the mass production of emerging memory technologies in Asia Pacific more than the other regions.
Key companies operating in the next-generation memory companies are SAMSUNG (South Korea), KIOXIA Holdings Corporation (Japan), Micron Technology, Inc. (US), Fujitsu (Japan), SK Hynix Inc (South Korea), Honeywell International, Inc. (US), Winbond (Taiwan), Microchip Technology Inc. (US), Nanya Technology (Taiwan), and Everspin Technologies (US).
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Browse Adjacent Market: Semiconductor and Electronics Market Research Reports &Consulting
Related Reports: 
Non-Volatile Memory (NVM) Market by Type (Flash, EPROM, nvSRAM, EEPROM, 3D NAND, MRAM, FRAM, NRAM, ReRAM, PMC), Wafer Size (200 mm, 300mm), End-user (Consumer Electronics, Enterprise Storage, Healthcare, Automotive) and Region – Global Forecast to 2027
Next-Generation Data Storage Market by Storage System (Direct-Attached, Network-Attached, Storage Area Network), Storage Architecture, Storage Medium, Storage Systems, Deployment Type, End-user and Region – Global Forecast to 2028
Solid State Drives Market (SSD Market) by Form Factor (2.5″, 3.5”, M.2, U.2/SFF 8639, FHHL/HHHL), Interface (SATA, SAS, PCIe), Technology (SLC, MLC, TLC), End-user (Enterprise, Client, Industrial, Automotive), and Geography – Global Forecast to 2023
Embedded System Market by Hardware (MPU, MCU, Application-specific Integrated Circuits, DSP, FPGA, and Memories), Software (Middleware, Operating Systems), System Size, Functionality, Application, Region – Global Forecast to 2025
FPGA Market by Configuration (Low-end FPGA, Mid-range FPGA, High-end FPGA), Technology (SRAM, Flash, Antifuse), Node Size (=16 nm, 20-90 nm, >90 nm), Vertical (Telecommunications, Data Center & Computing, Automotive) and Region – Global Forecast to 2028
About MarketsandMarketsâ„¢
MarketsandMarketsâ„¢ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStoreâ„¢ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarketsâ„¢.com or follow us on Twitter, LinkedIn and Facebook.
Contact: Mr. Aashish MehraMarketsandMarketsâ„¢ INC. 630 Dundee RoadSuite 430Northbrook, IL 60062USA: +1-888-600-6441Email: [email protected] Our Web Site: https://www.marketsandmarkets.com/Research Insight: https://www.marketsandmarkets.com/ResearchInsight/Memristor-Memory-Market.aspContent Source: https://www.marketsandmarkets.com/PressReleases/next-generation-memory.asp
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Artificial Intelligence

IBS Software Launches Data & AI Center of Excellence, Appoints George Varghese as it’s Head

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SINGAPORE, Oct. 10, 2024 /PRNewswire/ — IBS Software, a leading provider of SaaS solutions to the global travel industry, has launched a Data & AI Center of Excellence (CoE), aimed at driving innovation and responsible AI adoption in the travel and hospitality sectors.

The establishment of the Data & AI CoE reflects IBS Software’s commitment to applying advanced AI and data-driven technologies across its product portfolio to deliver cutting-edge solutions to its global customer base. The initiative will focus on identifying, prioritizing, and enabling top AI use cases in collaboration with product teams and customers. The CoE will define responsible AI practices, focusing on user privacy, data security, and ethical considerations.
George Varghese has been appointed as the new Head of the Data & AI Center of Excellence. Varghese brings over 25 years of expertise in data analytics, machine learning, and financial engineering to the role. He joins IBS Software after a career that spans roles in quantitative finance, algorithm development, and AI/ML deployment. Most recently, George led the AI/ML practice at Upskills Pte Ltd and co-founded Piquant Capital, a systematic hedge fund.
“The travel industry has vast untapped potential for AI-driven innovation,” said George Varghese, Head of the Data & AI CoE at IBS Software. “Creating this new initiative will enable our teams and customers to work together to create meaningful, data-driven solutions that redefine travel and hospitality. Ensuring responsible AI usage while maximizing its benefits will be at the core of what we do.”
Based in Singapore, George will report to Chris Branagan, Chief Technology Officer of IBS Software, and lead the team AI practitioners, with plans for expansion as the CoE evolves.
Chris Branagan comments: “AI holds tremendous potential to reshape the travel experience, but its success relies on trust and responsibility. At IBS Software, we are committed to ensuring that AI not only delivers efficiency and innovation but also adheres to the highest standards of privacy and security. George’s extensive experience and vision for responsible AI align perfectly with our strategy to drive industry-leading solutions.”
To find out more about IBS Software’s use of AI, please visit www.ibsplc.com.
ABOUT IBS SOFTWARE
IBS Software is a leading SaaS solutions provider to the travel industry globally, managing mission-critical operations for customers in the aviation, tour & cruise, hospitality, and energy resources industries. IBS Software’s solutions for the aviation industry cover fleet & crew operations, aircraft maintenance, passenger services, loyalty programs, staff travel and air cargo management. Across the hospitality sector, IBS Software offers a cloud-native, unified platform for hotels and travel sellers, including central reservation (CRS), property management (PMS), revenue management (RMS), call center, booking engine, loyalty and distribution. For the tour & cruise industry, IBS provides a comprehensive, customer-centric, digital platform that covers onshore, online and on-board solutions. Across the energy & resources industry, we provide logistics management solutions that cover logistics planning, operations & accommodation management. The Consulting and Digital Transformation (CDx) business focuses on driving digital transformation initiatives of its customers, leveraging its domain knowledge, digital technologies and engineering excellence. IBS Software operates from 17 offices across the world.
Further information can be found at www.ibsplc.com Follow us: Blog |LinkedIn | Facebook | Instagram
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Artificial Intelligence

HONOR Introduces Circle to Search with Google on the HONOR Magic V3 and HONOR 200 Series

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New feature availability highlights HONOR and Google’s commitment to making mobile AI technology more accessible to everyone
SHENZHEN, China, Oct. 10, 2024 /PRNewswire/ — Global technology brand HONOR today announced the availability of Circle to Search with Google[1] on the flagship HONOR Magic V3, the world’s slimmest inward foldable smartphone, as well as on the HONOR 200 Series, delivering superior performance and an unrivalled studio-level portrait photography experience. The new enhancement ensures everyone can benefit from the latest AI advancements, bringing a seamless and intuitive search experience to smartphone users around the world.

“Enhancements in AI are transforming the way we work, learn, shop, create and interact with our devices. Whether you need translation assistance, homework help or simply want to find out more about an image that’s caught your eye on social media, our smartphones have become our go-to source for searching for this information,” said George Zhao, CEO of HONOR. “As a human-centric technology brand, HONOR is committed to bringing the benefits of AI to all. Thanks to our close industry collaboration with Google and by introducing this feature to not one, but two of our popular smartphone lines, it’s now possible to unlock a world of information at your fingertips, offering a whole new level of convenience in people’s daily lives.”
Circle to Search empowers users to instantly search for anything they see on their phone with Google. With Circle to Search, users can simply circle, highlight, scribble or tap anywhere on their screen to select the text, image or video they want to search for more information about, without switching apps. Circle to Search makes searching for whatever inspires you even easier.
[1] Google and Android are trademarks of Google LLC.
HONOR’s AI Journey: Building a Comprehensive and Responsible AI EcosystemRecognizing the pivotal role of AI in shaping future lifestyles, HONOR has long viewed AI as a strategic priority. Through continuous R&D and open collaboration with industry partners, HONOR is dedicated to enriching its on-device AI ecosystem, delivering forward-thinking AI solutions to consumers worldwide. Earlier this year, HONOR unveiled HONOR’s Four-layer AI Architecture, a blueprint for industry-wide adoption that will ultimately benefit users everywhere. Embracing a hybrid AI strategy that fully integrates on-device AI and cloud AI capabilities, HONOR has developed a multi-layered security architecture and the HONOR Personal Cloud Compute, safeguarding user data and privacy during interactions with cloud AI services. 
Unveiled at IFA 2024, the latest flagship foldable HONOR Magic V3 features a host of pioneering AI capabilities. Teaming up with Google, the HONOR Magic V3 is equipped with AI Eraser, Face to Face Translation and HONOR Notes tools, empowering users with pro-grade productivity features. In keeping with its user-centric approach, HONOR has introduced the industry’s first AI Defocus Eye Protection Technology and AI Deepfake Detection Anti-Fraud Technology, addressing common health and safety concerns associated with smartphone usage. In addition, running on MagicOS 8.0.1, HONOR devices come with the intent-based Magic Portal and Magic Capsule, redefining human-device interactions to offer users optimal convenience.
Price and AvailabilityWhile the HONOR 200 Series has achieved remarkable success since its worldwide debut in June, the HONOR Magic V3 has also been available in international markets since September 5th, with prices starting from EUR 1,999.
About HONOR   HONOR is a leading global provider of smart devices. It is dedicated to becoming a global iconic technology brand and creating a new intelligent world for everyone through its powerful products and services. With an unwavering focus on R&D, it is committed to developing technology that empowers people around the globe to go beyond, giving them the freedom to achieve and do more. Offering a range of high-quality smartphones, tablets, laptops and wearables to suit every budget, HONOR’s portfolio of innovative, premium and reliable products enable people to become a better version of themselves.   
For more information, please visit HONOR online at www.honor.com
https://community.honor.com/    https://www.facebook.com/honorglobal/    https://twitter.com/Honorglobal    https://www.instagram.com/honorglobal/    https://www.youtube.com/c/HonorOfficial    
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Royal Mail Selects Workday Peakon Employee Voice to Strengthen Employee Engagement and Drive Transformation

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Historic Postal Service Will Prioritise Workforce Wellbeing Through Data-Driven Insights and Personalised Actions
LONDON, Oct. 10, 2024 /PRNewswire/ — Workday Inc. (NASDAQ: WDAY), a leading provider of solutions to help organisations manage their people and money, today announced Royal Mail’s selection of Workday Peakon Employee Voice to drive positive change among its workforce of over 125,000 employees.

Royal Mail, the UK’s designated universal postal service provider, is investing in its people by selecting Workday Peakon Employee Voice as part of ongoing strides to modernise and transform its culture. From its origins in 1615 with the establishment of the ‘Master of the Posts’ under King Henry VIII, Royal Mail has been an integral part of the UK’s fabric, connecting communities and businesses across the nation. Today, as it navigates a period of transformation and growth, the organisation is reaffirming its commitment to fostering a culture of open communication, trust, and collaboration with the help of Workday’s innovative technology.
“At Royal Mail, our people are our greatest asset, and we are committed to creating a workplace where everyone feels valued, heard, and empowered to reach their full potential,” said Rachel Blackett, head of engagement and wellbeing, Royal Mail. “Workday Peakon Employee Voice will play a crucial role in helping us achieve this goal, enabling us to build a stronger, more resilient organisation for the future.”
Workday Peakon Employee Voice will provide Royal Mail with real-time insights into employee sentiment, enabling leaders to make informed, data-driven decisions and take proactive steps to address concerns and build a more engaged workforce. The organisation’s leaders will leverage accurate comparisons, consistent benchmarking and robust analytical models to understand where change is needed. Whether for leadership development, employee wellbeing, diversity, or employee health, Royal Mail will be empowered to drive positive change, as part of its mission to redefine its future.
“The key to any successful organisation is a connected and engaged workforce,” said Daniel Pell, vice president and country manager, UKI, Workday. “With data-driven insights driven by AI capabilities, Workday will provide Royal Mail with the tools and intelligence needed to take action, build trust, and shape the future of the organisation and its continued service to the UK.”
About WorkdayWorkday is a leading enterprise platform that helps organisations manage their most important assets – their people and money. The Workday platform is built with AI at the core to help customers elevate people, supercharge work, and move their business forever forward. Workday is used by more than 10,500 organisations around the world and across industries – from medium-sized businesses to more than 60% of the Fortune 500. For more information about Workday, visit workday.com.
© 2024 Workday, Inc. All rights reserved. Workday and the Workday logo are registered trademarks of Workday, Inc. All other brand and product names are trademarks or registered trademarks of their respective holders.
Forward-Looking StatementsThis press release contains forward-looking statements including, among other things, statements regarding Workday’s plans, beliefs, and expectations. These forward-looking statements are based only on currently available information and our current beliefs, expectations, and assumptions. Because forward-looking statements relate to the future, they are subject to inherent risks, uncertainties, assumptions, and changes in circumstances that are difficult to predict and many of which are outside of our control. If the risks materialise, assumptions prove incorrect, or we experience unexpected changes in circumstances, actual results could differ materially from the results implied by these forward-looking statements, and therefore you should not rely on any forward-looking statements. Risks include, but are not limited to, risks described in our filings with the Securities and Exchange Commission (“SEC”), including our most recent report on Form 10-Q or Form 10-K and other reports that we have filed and will file with the SEC from time to time, which could cause actual results to vary from expectations. Workday assumes no obligation to, and does not currently intend to, update any such forward-looking statements after the date of this release, except as required by law.
Any unreleased services, features, or functions referenced in this document, our website, or other press releases or public statements that are not currently available are subject to change at Workday’s discretion and may not be delivered as planned or at all. Customers who purchase Workday services should make their purchase decisions based upon services, features, and functions that are currently available.
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