Connect with us

Technology

Embracing the AI Era for a Win-Win Future of Memory Industry: The GMIF2024 Innovation Summit Successfully Held in Shenzhen

Published

on

SHENZHEN, China, Sept. 30, 2024 /PRNewswire/ — In the golden glow of autumn, Shenzhen brings all together to convene a grand celebration. On September 27, the Third GMIF2024 Innovation Summit (Global Memory Innovation Forum) has been successfully concluded in Shenzhen. The event was hosted by the Semiconductor Investment Alliance and the Shenzhen Memory Industry Association, co-organized by the Guangdong Integrated Circuit Industry Association and the Shenzhen Semiconductor Industry Association, and organized by JW Insights Consulting (Xiamen) Co., Ltd. and Haitong Securities Co., Ltd.

With the theme of “AI Leads Memory’s New Momentum”, this year’s summit has brought together leading enterprises from various segments of the memory industry chain, including major wafer manufacturers, memory controller suppliers, module producers, packaging and testing enterprises, equipment and materials manufacturers, and terminal manufacturers, as well as representatives from investment institutions. The event centered around all aspects of key topics such as product innovation, technological evolution, and the collaborative development of the industrial chain, all with the aim of advancing industry cooperation and creating a shared future of success.

Accelerating Deployment of AI Applications to Unlock New Growth in the Storage Industry

The explosive growth of AI in the new era is reshaping the global semiconductor landscape. The widespread application of AI is driving demand for high-performance, high-computing-power chips, while also creating significant growth opportunities for high-bandwidth, large-capacity, and low-power storage chips.

The GMIF2024 Innovation Summit officially kicked off with the welcoming remarks from Mr. Rixin Sun, President of the Shenzhen Memory Industry Association (SMIA). Over the recent years, the exponential growth of AI, 5G, Big Data and Internet has seen a brand-new revolutionizing period in global storage industry. Mr. Sun addressed that the GMIF2024 Innovation Summit turns special attention to the entire upstream and downstream storage value chain that goes beyond just the storage and memory itself. In particular, it unfolds critical areas across the industry, consisting of storage media, solutions, system platforms, testing equipment and more. Mr. Sun affirmed that only through collaboration across the entire industry chain can we continuously drive the advancement of the sector and maintain a leading position in global competition.

Xiaofei Zhang, Chief Analyst for Electronics Industry from Haitong Securities, stated that, from the perspective of overall storage market, the HBM3e has exerted impacts on the production schedule of DDR5, and the decline in DRAM prices remains restricted. In the NAND sector, the inventory adjustments at server terminals are entering the final stages; coupled with AI driving demand for high-capacity storage products, prices have continued to rise in Q2. Although the recent increase in NAND prices has slowed, it still exceeds market concerns. Looking ahead, the penetration of AI terminal applications is accelerating, leading to a sustained increase in demand for computing and storage solutions.

Yimao Cai, Dean of the School of Integrated Circuits at Peking University, expressed that semiconductor storage, considered as one of the largest segment of the integrated circuit industry, has encountered considerable challenges after stepping into the post-Moore and AI era. On one hand, traditional memory technologies have posed significant limits on the integration density and reliability below 28nm, and there is an urgent need for breakthroughs in underlying technologies. On the other hand, the traditional computing chips are insufficient to satisfy the high-efficiency demands for intelligent equipment, catalyzed by the surging growth in AI computing needs, as the traditional chip hardware incurs high costs and energy consumption. It can be observed that innovations in foundational units and process integration are crucial to the progress of memory technology, and new forms of storage technology are becoming increasingly mature.

Prasad Alluri, VP and GM for Client Storage, SBU from Micron Technology, emphasized that “AI is everywhere and AI applications have entered every corner of people’s daily lives in all kinds of forms. For instance, smartphone manufacturers have introduced AI capabilities in high-end phones, and the storage capacity of LPDDR 5 has been increased to between 12GB and 16GB to accommodate ever-increasing datasets. In addition, storage technology has evolved to UFS 4.0, which more than doubles power efficiency compared to the previous generation. In the realm of edge devices, autonomous driving will be elevated from Level 0 to Level 5 supported by the enhanced AI technology. Industry experts predict that the bit density required for automotive memory will increase by approximately 30 times, while the non-collision bits in power systems will grow nearly 100 times. None of the enhancements, whether in data centers, edge devices, or memory and storage environments, would be possible without the technological progress we’ve achieved generation after generation.”

Yan Li, Vice President of Advanced Technology at Western Digital, pointed out that the 3D NAND flash market is highly competitive and constantly evolving. The number of NAND cells stacked has experienced substantial growth, from 48 layers in 2017 to 64 and 96 layers. Up to date, Western Digital has completed mass production of its 218-layer products; while Micron Technology has already mass-produced its 280-layer products as stated in its keynote. Dr. Yan Li shared her insights that the continuous increase of layers might not be considered as an ideal strategy because large amounts of capitals are required for new equipment as complexity of the products rises. Should the market fail to accommodate these new products and prices start to decline, it could lead to a vicious cycle.

Dr. Yan Li then moved on to make some explanations of the trade-offs involved in 3D NAND scaling technology. There are four main vectors to scaling: vertical scaling, lateral scaling, architecture scaling, and logical scaling. Taking its product PC SN5000S NVMe SSD as an example, Dr. Li noted that this model is equipped with cost-effective BiCS6 NAND technology and DRAM-less QLC PCIe Gen4 SSD, and its internal controller and firmware provide a perfectly optimized solution which can be introduced to the market within a shorter time and allowed for quality control. Compared to the previous generation, it offers a 51% improvement in memory density and a 12% increase in layer density. In relation to the mainstream TLC SSD, QLC SSD features enhanced performance and its major metrics are matched with TLC SSD. In consumer and commercial sectors, QLC SSDs are now being widely adopted by PC OEMs.

Wallace C. Kou, President & CEO of Silicon Motion, claimed that AI will be the ever-lasting energy and vitality that propel continuous growth in the global market. Storage is regarded as one of the key areas in the artificial intelligence ecosystem, and the market requires more relevant software and applications to make AI edge devices more meaningful and appealing to consumers.

Benny Ni, GAR Sales VP at Solidigm, remarked that the company currently possesses leading innovative technologies in the fields of TLC and QLC, enabling it to offer a powerful portfolio of data center storage products and storage solutions that optimize AI storage efficiency.

Zhinong Liu, Executive Vice President of UNISOC, signified that in the all-scenario AI computing system, software serves as the “engine”, chips as the “foundation”, the ecosystem as the “link”, and products as the “carrier”. The company will continue to strengthen its advanced semiconductor manufacturing platform based on strategy and capability centers, maintain supply chain security, ensure efficient and stable product delivery, and enhance customer satisfaction.

Haibing Xie, Director of Application Design in Center, Intel China, mentioned that AI PCs are the best carriers for edge-side AI and will lead the next explosion in the PC industry. The Intel Core Ultra is equipped with powerful AI capabilities, enabling the deployment of “generative AI” on PCs. At present, the company’s AI PC chips have shipped 20 million units, and it is expected to reach 40 million units by the end of the year, with projected shipments of 100 million units in 2024-2025.

Haiqing Huang, R&D Vice General Manager at Victory Giant Technology, revealed that the AI investment landscape among global tech companies is currently marked by an unparalleled enthusiasm, and the three main application markets, namely the smartphones, PCs, and servers, are bound to experience a welcome upswing brought by the development of AI applications. As of now, there is a constant increase in memory bandwidth, and Victory Giant has been accelerating its product R&D investments to meet the demands of high-performance computing, data centers, AI training, and inference scenarios. The fifth-generation high-performance memory (DDR5) is already in mass production, while the development of the sixth generation (DDR6) and seventh generation (DDR7) products is underway.

Sam Sun, Chairman of BIWIN Storage, voiced that the evolving storage industry has brought a bright spot and prominent attention to the testing and packaging sector. This is particularly true as advanced packaging moves towards miniaturization and integration, and technical barriers are progressively becoming higher. The company is deepening its research and development efforts in the integrated packaging and testing layout to enhance its competitive edge. It is anticipated that the Integrated R&D and Packaging 2.0 Strategy will transform the company from a storage product supplier into a comprehensive partner offering wafer-level advanced packaging and testing services. This will provide industry partners with higher-quality in-depth solutions and promote a comprehensive enhancement of customer value.

Rui Ding, General Manager, Product Department, Consumer Cloud Platform Business Group at iFLYTEK, declared that the development of large models has transitioned AI from a “tool” to an “assistant”, capable of performing a wider range of tasks through more natural conversational forms. In the future, iFLYTEK hopes to collaborate with various industry stakeholders to promote the development of AI technology.

Chloe Ma, VP of China GTM for IoT Line of Business at Arm, claimed that the wave of AI is sweeping across various sectors. Generative AI is not only being deployed in the cloud but is also rapidly making its way to the edge, where storage plays a crucial role in AI computing from the cloud to the edge. In response to the innovative demands of the new era of edge AI, Arm is committed to advancing in three major areas: hardware, software, and ecosystem development.

Feng Chen, Senior Vice President of Rockchip, mentioned that an increasing number of industries and applications are integrating AI with IoT, making AIoT the optimal pathway for the intelligent transformation of traditional sectors and a key direction for the future development of the IoT. The rapid expansion of the AIoT market is creating opportunities for AIoT chips while also driving greater demands for data transmission, storage, and computing, which poses challenges for chip processing power. Rockchip continues to release new chips to support AIoT applications.

Jie Chen, Co-founder and VP of Data Storage Technology at InnoGrit, highlighted that in the AI era, as well as the data age, higher challenges have been presented for storage technologies. Faster and more efficient SSD interfaces will contribute to breaking through storage limitations. The collaborative optimization between InnoGrit’s memory controller chips and domestically produced flash memory will enhance the read/write performance and QOS competitiveness of storage products, jointly shaping the future of China’s storage industry.

Vic Huang, Vice General Manager of QUANXING Technology, noted that the computing architecture of solutions provided by QUANXING is not constrained by the size of large models, which contributes to a significant reduction in the cost of local deployment. The company is focused on a full range of high-end domestic storage products, aiming to complete the “last mile” of AI and striving to become a leader in the era of AI for everyone.

Zheng Qiu, Technical Marketing Manager at Montage Technology, remarked that the rapid development of AI has generated immense demand for both computing power and storage capacity. The high-speed and stable data transfer between high-performance processors and large-capacity memory is of utmost importance. In response, “transmission chips” surfaced as a timely solution.

Don Hu, Vice President of Marketing at Allwinner Technology, shared insights on the company’s industrial layout, technological direction, and industry applications. Mr. Hu introduced Allwinner’s exploration in areas such as general-purpose computing power, dedicated computing power, computational expansion, and multi-modal sensing. He also explained how Allwinner gives a full play to the fundamental role played by computing power to provide high-quality chips and services for industries like smart living, smart cities, and smart industries.

Lei Hu, Director of Business Management at Applied Materials (AMAT), conducted an in-depth analysis of the technologies involved in high-bandwidth memory, including DRAM chips, logic controllers, and HBM stacks, as well as the additional material engineering processes. He further added that AMAT is capable of providing clients with cutting-edge packaging equipment to empower the elevation of customer value by taking advantage of its strong R&D capabilities to facilitate the advancement of high-bandwidth memory technology.

Lee Chee Ping, Senior Director of LAM Research, commented that the AI chip market is flourishing with rapid growth, and the enhancement of AI chip performance requires the essential support of advanced packaging. Moreover, advanced packaging and heterogeneous integration are also the primary methods in the semiconductor industry for optimizing performance, power, form factor, and cost.

Youngsuk Kim, Director of DISCO, remarked that from 2023 to 2029, the advanced packaging market is expected to grow at a compound annual growth rate of 11%, making 2.5D/3D packaging equipment increasingly important. DISCO has extensive experience in mass production and has closely collaborated with customers during the R&D phase, providing solutions for thinning and cutting HBM and 2.5D-PKG. Mr. Kim then introduced the performance and advantages of various equipment, including DFD6860HS, DGP8761HC, DGP8761, DFL7262, DFL7362, and DFD6362/6363.

Focusing on Frontline Technologies to Foster a New and Autonomous Ecosystem

The summit also established a dedicated forum, dubbed “Memory Industry Chain Ecosystem Forum”, for enterprises across the memory industry chain to further decode memory future trends. An array of leading companies, including Skyverse, Loongson, Like Automation Equipment, Micro-Nano (HongKong), OKN Technology, Maxwell, Attach Point Intelligent Equipment, Tytantest, Maxio, Silergy and Heyan Technology, had gathered to share their insights. Discussions focused on cutting-edge trends, industry pain points, and solutions related to wafer testing, memory packaging, aging testing, product and technology innovation, terminal applications, yield improvement, and cost reduction.

Song Zhang, Executive Vice President of Skyverse, observed that it has become the industry trend to identify defects by machines through AI decision-making, aimed at helping customers to locate defects more effectively and further enhance production yield and efficiency. In practical applications, it can be noted that system inspection has demonstrated better results in efficiency and accuracy than manual inspection, which aids to significantly improve production efficiency for the clients. Skyverse will remain dedicated to driving innovation in AI products to provide high-quality solutions for domestic customers in the future.

Shan Jiang, General Manager of Guangdong Loongson Electronic Technology, affirmed that Loongson has gained more innovative space for the industry and market through self-reliance and independence. Autonomy has granted Loongson greater freedom, enhanced cost-effectiveness, and a more secure supply chain. Committed to becoming both a contributor and a maintainer of the international upstream community, Loongson aims to achieve independence and compatibility on the global stage at the same time, rather than decoupling or breaking the chain.

Simon Ye, General Manager of Like Automation Equipment, expressed that the company’s next-generation innovative technology of 2.5D/3D large-size packaging bumping is currently being validated through product development with domestic clients.

Steve Pei, CEO of Micro-Nano (Hong Kong) Technology, mentioned that as a professional manufacturer of wafer thickness measurement systems, Micro-Nano now mainly provides the SemDex M1 semi-automatic system and the SemDex A fully automatic system, with over 1,000 units installed globally, placing the company at the forefront of the industry.

Ming Zhao, General Manager of OKN Technology, observed that the company has initiated the R&D for PCIe GEN6 based on the GEN5 SSD testing system. With intense competition in the industry, OKN sees this as an opportunity to enhance its internal drive, strengthen its R&D capabilities, and foster product innovation, continuously providing better solutions for its customers.

Kuilin Jin, Vice General Manager of Sales at Maxwell Technologies, pointed out that independent R&D is crucial. Through technological innovation, Maxwell aims to achieve the import substitution of key core components, break the foreign technology monopoly and ensure supply chain security.

Xiaolong Ouyang, R&D VP at Attach Point Intelligent Equipment (APIE), shared his insights that APIE’s one-stop solution has achieved AI Inside applications, supporting the packaging of mature storage chips required for AI, as well as advanced packaging solutions for AI storage chips, including HBM, 2.5D, TCB, and HB.

Aaron Xu, CTO of Tytantest, highlighted that through its efforts on forward R&D, domestic manufacturing of complete machines, and validation on self-owned production lines, Tytantest strives to achieve fully automated and self-controllable processes, enabling to develop solutions that better meet customer needs.

Huan Ren, Marketing Director at Maxio Technology, confirmed that the company continues to maintain a high level of investment in research and development. Its R&D expenditures have increased from 155 million yuan in 2021 to 380 million yuan in 2023, which have already been translated into several mass-produced products. Among these, the MAP1102 main control chip has exceeded 50 million units shipped. Compared to similar products on the market, Maxio’s offerings demonstrate a leading advantage in I/O speed and energy efficiency, as well as a deep understanding and proactive layout in the integration of hardware and software.

Leo Cao, Senior Sales Director at Silergy, said that in the storage industry chain, the company possesses several advantages, including highly efficient product integration, extensive experience collaborating with top-tier clients, a wide range of product coverage, supply chain security, and global collaborative research and development. Silergy has achieved a global layout in R&D and service, and stayed true to its mission to prioritize customer needs.

Kent Wang, Business Development Manager at Heyan Technology, introduced that the company has gone through three development stages: the basic products of 6-inch dicing machines, upgraded products of 8-inch/12-inch dicing machines, and high-end products such as cutting and sorting machines and de-bonding machines. With rich technological accumulation and industrial experience, the company is capable of providing reliable and stable consistency assurance for customers, supporting customized solutions for different processes, and offering process-related technological innovations to meet advanced packaging demands.

After a day of intense intellectual exchanges, the guests gathered for a grand dinner where the GMIF 2024 Annual Awards were presented. Following a rigorous selection process, many companies, including Intel, Micron, GigaDevice, Arm, UNISOC, SIXUNITED, Victory Giant, BIWIN Storage, Solidigm, Western Digital, Rockchip, Allwinner Technology, Weibu Information, Heyan Technology, OKN Technology, Attach Point Intelligent Equipment, iWISEETEC, Tytantest, Hemei Jingyi, Silicon Motion, Maxio, QUANXING, MICROFROM, Konsemi, Silergy, LKAUTO, Maxwell, Skyverse, RORZE, ExTripod Electronics, EPS, InnoGrit, POWEV, KingSpec and more, had been honored with the 2024 Annual Awards, receiving unanimous recognition from the expert judges.

In summary, as a grand feast in the global storage field, the GMIF Innovation Summit has successfully held three consecutive sessions and received commendation from the industry. It has now become one of the most influential high-end summits in the domestic storage sector. In the future, the GMIF Innovation Summit will strive for deeper market service and innovative formats, creating a higher-level platform for communication and collaboration. The summit aims to explore more impactful industry events, analyze industry trends and opportunities with an international perspective, and promote mutual benefits within the industry. We look forward to seeing you again next year!

About GMIF

GMIF (Global Memory Innovation Forum) is the most important annual event of Shenzhen Memory Industry Association (SMIA). The forum aims to build a globally-focused, professional platform for the storage industry to collectively explore new technologies, applications, collaborations, and emerging opportunities. The Third GMIF2024 Innovation Summit is scheduled to be held on September 27, 2024 at Renaissance Shenzhen Bay Hotel. Under the theme of “AI Leads Memory’s New Momentum”, the summit aims to foster communication and interaction among both upstream and downstream enterprises in the storage industry. By promoting collaboration and complementary growth among industry partners, the GMIF seeks to help participating companies expand their product and brand reach and contribute to a thriving, win-win ecosystem in the global storage sector.

For more information about GMIF, please visit https://www.gmif.com.cn/.

Media Contact:
Ms. Gu, 15064010336, wenjing.gu@gmif.com.cn 

 

View original content to download multimedia:https://www.prnewswire.com/news-releases/embracing-the-ai-era-for-a-win-win-future-of-memory-industry-the-gmif2024-innovation-summit-successfully-held-in-shenzhen-302262593.html

SOURCE Shenzhen Memory Industry Association

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Technology

Hong Leong Bank Picked Up Four Notable Wins at Recent Financial Industry Awards

Published

on

By

KUALA LUMPUR, Malaysia, Sept. 30, 2024 /PRNewswire/ — Hong Leong Bank (“HLB” or the “Bank”) has received 4 industry awards this year, reinforcing its position as a leading financial institution in Malaysia. These accolades span SME banking, innovative financial products and even financial inclusion initiatives, reflecting the Bank’s dedication to providing an end-to-end banking experience that offers innovative, customer-centric financial solutions, while leveraging digital innovation to uplift communities.

Best SME Bank in Malaysia

HLB has been named “Best SME Bank in Malaysia” at the Euromoney Awards for Excellence 2024, and for the third consecutive year at the Asian Banking & Finance (“ABF”) Retail Banking Awards 2024. This achievement is attributed to an impressive 10.4% year-on-year (“YoY”) increase in its SME loan/financing portfolio, reaching RM33 billion in the past financial year. The Bank’s community banking initiatives also saw an outstanding 12.6% YoY growth, nearly double the industry average.

The Bank’s commitment to SMEs goes beyond providing loans and financing. It offers a fully-digital onboarding experience where SME customers can apply for banking products and services from their own premises, eliminating the need for business owners to open accounts at a physical branch. With this, HLB provides a diversified suite of online banking capabilities, including enhanced features for faster trade processing, an optimised loan origination system that expedites loan approvals. HLB also has an extensive network of Community Business Managers (“CBMs”) and Cash, Trade & FX (“CTFX”) specialists which are embedded within the nationwide SME community, equipped with the solutions and insights needed to provide unparalleled support to SMEs and business owners.

Best Deposit Product in Malaysia

In line with its commitment to optimising customer experience through innovative banking solutions, HLB’s Pay & Save Account/-i (“Pay & Save”) has been named “Best Deposit Product in Malaysia” at The Asian Banker Excellence in Retail Finance and Technology Innovation Malaysia Awards 2024.

The Pay&Save account provides multi-currency flexibility and offers higher interest/profit on everyday transactions. The account is designed for a seamless user experience, leveraging on HLB Connect and an integrated multi-currency debit card. Customers can manage finances in both Malaysian Ringgit (MYR) and 12 major foreign currencies, convert currency easily at competitive rates, and spend and withdraw foreign currencies abroad while receiving FOREX alerts at their preferred rates, a testament to the Bank’s commitment to designing financial solutions that cater to its customers’ diversified lifestyles.

Best Financial Inclusion Initiative

HLB’s commitment to customer-centricity and uplifting the community is evident in its financial inclusion program, HLB @ Kampung, which equips underserved communities with digital payment tools and online banking infrastructure. Following its successful launch in Sekinchan, Selangor in 2023, HLB has further initiated 71 HLB @ Kampung projects that look to support the digital transformation of rural towns across Malaysia, turning them into a Cashless Kampung. On the back of the program’s success, the Cashless Kampung program was internationally-recognized as the Best Financial Inclusion Initiative at The Asian Banker Excellence in Retail Financial Services International Awards 2024.

Built Around You

Kevin Lam, Group Managing Director and CEO of HLB commented on the widespread recognition of HLB’s banking excellence.

“As a financial institution, we constantly look to reimagine our digital banking products and services, ensuring that we truly design them to provide a seamless banking experience for our customers. These awards are not just a reflection of the relentless dedication and hard work from our team at HLB, but it also underscores our pursuit of innovation and customer-centricity. From designing a multi-currency, digitally-enabled savings account, to enhancing our SME banking capabilities and uplifting communities with digital innovation, we look to provide financial solutions and services that are integrated into our customers’ diverse lifestyles, becoming a bank that is truly Built Around You.”  

HLB has also recently upgraded their HLB Connect mobile banking app, further enhancing and streamlining the user experience when it comes to digital banking. The new app comes with a new and improved Forex Rate converter interface, which complements the multi-currency Pay & Save account by making it easier for customers to calculate conversion rates. Besides that, the app now allows for auto-detect biometric settings, where users can use their pre-set security settings on their mobile phones (biometrics for Android and Face ID for iOS) to unlock their HLB Connect app.

For more information about HLB’s Pay & Save account, please visit:

https://www.hlb.com.my/en/personal-banking/deposits/savings-account/pay-and-save-account.html 

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/hong-leong-bank-picked-up-four-notable-wins-at-recent-financial-industry-awards-302262800.html

SOURCE Hong Leong Bank

Continue Reading

Technology

Desktop Humidor Market Size to Grow USD 197 Million by 2030 at a CAGR of 4.3% | Valuates Reports

Published

on

By

BANGALORE, India, Sept. 30, 2024 /PRNewswire/ — Desktop Humidor Market is Segmented by Type (Wooden Humidor, Glass Top Humidor), by Application (Household, Commercial): Global Opportunity Analysis and Industry Forecast, 2024-2030.

The Global Desktop Humidor Market was valued at USD 151 Million in 2023 and is anticipated to reach USD 197 Million by 2030, witnessing a CAGR of 4.3% during the forecast period 2024-2030.

Get Free Sample: https://reports.valuates.com/request/sample/QYRE-Auto-6E14235/Global_Desktop_Humidor_Market

Major Factors Driving the Growth of Desktop Humidor Market

The global desktop humidor market is growing as cigar enthusiasts and collectors increasingly prioritize proper cigar storage to maintain quality and freshness. Desktop humidors are specialized containers designed to control the humidity levels required to preserve cigars, which are sensitive to fluctuations in moisture. These humidors typically come in various sizes and materials, such as wood and glass, and offer an aesthetically pleasing way to store cigars, making them popular among individuals and businesses alike. The rise in disposable incomes and growing interest in premium cigars, particularly in North America and Europe, are key factors driving the demand for desktop humidors. In addition, the commercial use of desktop humidors in cigar lounges, bars, and specialty shops is expanding, further boosting market growth. As cigar culture continues to flourish, particularly among younger demographics, the market for desktop humidors is expected to witness steady growth. The increased focus on craftsmanship, luxury, and the presentation of high-end cigar accessories is also shaping the market dynamics.

View Full Report: https://reports.valuates.com/market-reports/QYRE-Auto-6E14235/global-desktop-humidor

TRENDS INFLUENCING THE GROWTH OF THE DESKTOP HUMIDOR MARKET

Wooden humidors are a significant driver of the desktop humidor market, as they are the preferred choice for many cigar enthusiasts due to their durability and aesthetic appeal. High-quality wood, such as Spanish cedar, is known for its ability to regulate humidity levels and enhance the flavor of cigars, making it an ideal material for humidors. The craftsmanship and luxurious appearance of wooden humidors also make them desirable for collectors and connoisseurs. As demand for premium cigars continues to rise, the market for wooden humidors is expanding, with consumers willing to invest in high-end storage solutions to preserve their cigar collections.

The growing popularity of cigars as a luxury lifestyle product is driving the demand for desktop humidors in households. Many individuals now view cigar smoking as a hobby, leading them to invest in humidors to properly store and age their cigars at home. Desktop humidors are particularly appealing to household consumers due to their compact size and ability to hold a personal collection of cigars. As cigar culture becomes more mainstream, particularly among younger generations, the demand for home cigar storage solutions is increasing, contributing to the growth of the desktop humidor market.

The commercial sector, including cigar lounges, bars, and specialty tobacco shops, is another key driver of the desktop humidor market. These establishments require humidors to display and store cigars in optimal conditions, ensuring product quality for their customers. Commercial businesses are increasingly investing in aesthetically pleasing and functional desktop humidors to enhance the customer experience and elevate the presentation of their cigar offerings. The rise of cigar lounges and smoking-friendly bars in urban areas has created a steady demand for commercial-grade humidors, further driving market growth.

The increase in disposable incomes, particularly in developed economies, is one of the primary factors driving the growth of the desktop humidor market. As consumers have more spending power, they are more likely to indulge in luxury goods, including premium cigars and cigar accessories. The growing number of affluent individuals who can afford to invest in high-quality humidors is contributing to market expansion. This trend is especially prominent in North America and Europe, where cigar smoking is often associated with a premium lifestyle. As disposable incomes continue to rise globally, the demand for desktop humidors is expected to grow.

The rising interest in premium cigars is significantly contributing to the growth of the desktop humidor market. As consumers become more discerning about the quality and origin of their cigars, they are also seeking storage solutions that preserve the freshness and flavor of their collections. The increasing popularity of limited-edition and hand-rolled cigars has heightened the need for reliable humidors that can maintain consistent humidity levels. As a result, cigar enthusiasts are willing to invest in high-end desktop humidors, which has led to an increase in market demand, particularly among collectors and connoisseurs.

The global expansion of cigar lounges and bars is another factor driving the growth of the desktop humidor market. These establishments offer customers a curated experience, where cigars are often displayed and stored in desktop humidors that preserve their quality. The rise of cigar lounges as social spaces has increased the demand for aesthetically pleasing and functional humidors that enhance the presentation of cigars. As the cigar lounge culture continues to grow in major cities worldwide, the market for desktop humidors is expected to benefit from this trend, particularly in regions with strong smoking cultures.

Buy Now: https://reports.valuates.com/api/directpaytoken?rcode=QYRE-Auto-6E14235&lic=single-user

DESKTOP HUMIDOR MARKET SHARE

The desktop humidor market varies by region, with North America and Europe leading due to the strong cigar culture and higher disposable incomes in these areas. The United States, in particular, is a major market for desktop humidors, driven by the popularity of premium cigars and the growing number of cigar lounges. Europe, especially countries like Spain and Italy, is also a key market, as cigar smoking is deeply embedded in the culture. The Asia-Pacific region is emerging as a potential growth area, as interest in luxury goods and premium cigars rises among affluent consumers in countries like China and Japan.

Key Companies:

Humidores WacotaGerberVigilantSinostar Packaging Manufacturer Co., LtdCase EleganceGrand HumidorsHolt’s Cigar CompanyPrestige Import GroupCigar Star

Purchase Chapters: https://reports.valuates.com/request/chaptercost/QYRE-Auto-6E14235/Global_Desktop_Humidor_Market

SUBSCRIPTION

We have introduced a tailor-made subscription for our customers. Please leave a note in the Comment Section to know about our subscription plans.

DISCOVER MORE INSIGHTS: EXPLORE SIMILAR REPORTS!

–  Cigar Humidor Market

–  Cigar Cooler Humidor Market

–  Cigar Market revenue was USD 17650 Million in 2022 and is forecast to a readjusted size of USD 21020 Million by 2029 with a CAGR of 2.5% during the forecast period (2023-2029).

–  Electric Desktop Humidor market was valued at USD 5.3 Million in 2023 and is anticipated to reach USD 7.8 Million by 2030, witnessing a CAGR of 5.8% during the forecast period 2024-2030.

–  Wooden Desktop Humidor market was valued at USD 146 Million in 2023 and is anticipated to reach USD 190 Million by 2030, witnessing a CAGR of 4.3% during the forecast period 2024-2030.

–  Electronic Humidor Cabinet Market

–  Fuel Cell Humidifier market was valued at USD 76 Million in 2023 and is anticipated to reach USD 929 Million by 2030, witnessing a CAGR of 45.6% during the forecast period 2024-2030.

DISCOVER OUR VISION: VISIT ABOUT US!

Valuates offers in-depth market insights into various industries. Our extensive report repository is constantly updated to meet your changing industry analysis needs.

Our team of market analysts can help you select the best report covering your industry. We understand your niche region-specific requirements and that’s why we offer customization of reports. With our customization in place, you can request for any particular information from a report that meets your market analysis needs.

To achieve a consistent view of the market, data is gathered from various primary and secondary sources, at each step, data triangulation methodologies are applied to reduce deviance and find a consistent view of the market. Each sample we share contains a detailed research methodology employed to generate the report. Please also reach our sales team to get the complete list of our data sources.

YOUR FEEDBACK MATTERS: REACH OUT TO US!
Valuates Reports
sales@valuates.com
For U.S. Toll-Free Call 1-(315)-215-3225
WhatsApp: +91-9945648335
Website: https://reports.valuates.com
Blog: https://valuatestrends.blogspot.com/
Pinterest: https://in.pinterest.com/valuatesreports/
Twitter: https://twitter.com/valuatesreports
Facebook: https://www.facebook.com/valuatesreports/
YouTube: https://www.youtube.com/@valuatesreports6753
https://www.facebook.com/valuateskorean
https://www.facebook.com/valuatesspanish
https://www.facebook.com/valuatesjapanese
https://valuatesreportspanish.blogspot.com/
https://valuateskorean.blogspot.com/
https://valuatesgerman.blogspot.com/
https://valuatesreportjapanese.blogspot.com/ 

Logo: https://mma.prnewswire.com/media/1082232/Valuates_Reports_Logo.jpg

 

View original content:https://www.prnewswire.co.uk/news-releases/desktop-humidor-market-size-to-grow-usd-197-million-by-2030-at-a-cagr-of-4-3–valuates-reports-302262830.html

Continue Reading

Technology

DocPro Limited Announces the Launch of DocLegal.ai

Published

on

By

Affordable AI-Powered Legal Solutions

HONG KONG, Sept. 30, 2024 /PRNewswire/ — DocPro Limited, a leading innovator in legal technology, has launched DocLegal.ai, a new platform designed to provide AI-powered legal assistance at an unbeatable price—less than the price of your daily coffee.

DocLegal.ai is a platform that consolidates legal document creation, editing, and review into a single interface. The platform offers the following features:

Custom Document Creation: Users can describe their scenario and receive a tailored legal document.Document Review and Editing: The AI assistant can edit, review, summarize documents, suggest clauses, and highlight potential risks.

The platform is designed to provide affordable legal services to small businesses and individuals. It also aims to streamline workflows and automate routine tasks for legal professionals, enabling them to focus on high-value activities.

DocPro Limited has leveraged its experience with DocPro.com, which serves over 50,000 users globally, to develop DocLegal.ai. The company is a graduate of the Cyberport Incubation Program and is currently part of the HKSTP Incubation Program and Google for Startups Cloud Program.

As part of its soft launch, DocLegal.ai is offering exclusive access to the first 500 users for only $2.50  per document. Interested parties can Visit the DocLegal.ai website to sign up.

About DocPro Limited

Founded in 2020, DocPro Limited is a leader in the legal tech space, committed to enhancing the delivery of legal services through innovative AI-powered solutions. With platforms like DocPro.com and DocLegal.ai, DocPro empowers users to create and manage legal documents with unparalleled efficiency and precision. For more information, visit DocLegal.ai.

DocLegal.ai is poised to become an indispensable tool for anyone seeking reliable, efficient, and affordable legal documentation, reinforcing DocPro’s position as a pioneer in legal technology.

Media Enquiries: 

Kim Chan
kim.chan@docpro.com

View original content:https://www.prnewswire.co.uk/news-releases/docpro-limited-announces-the-launch-of-doclegalai-302260129.html

Continue Reading

Trending