By 2024, the world's top semiconductor companies could spend $300 million on in-

house and third-party AI tools to design chips, according to the report. That figure
could grow 20% annually over the next four years to exceed $500 million in 2026.
Meanwhile, supercharged semiconductors, made with high-power materials, are
taking chip development to a new level.

These silicon replacement materials – primarily gallium nitride and silicon carbide –
are suitable for the higher voltages, power levels and resilience needed for
increasingly common applications. These characteristics are observed in electric
vehicle (EV) batteries. Also in super-efficient consumer electronics chargers,
powerful solar panels, advanced military applications, space technology and nuclear
energy.

Chips made with high-power semiconductor materials could sell a total of $3.3
billion in 2023, almost 40% more than in 2022, the study added. The growth of this
type of chips is expected to accelerate to almost 60% in 2024. Known collectively as
power compound semiconductors, they generated revenues of more than $5 billion.

Many organizations want to reach net zero emissions and, to achieve this, the
technology industry is making a strong commitment. According to the CxO
Sustainability Report, technology companies are working harder and faster to combat
climate change. The report indicates that they are 13% more likely than non-tech
companies to achieve net zero emissions by 2030.

Cloud, telecommunications, equipment and platform companies are competing for a

share of enterprise investments in cutting-edge services and products. They seek to
make computing faster, safer and more economical. The enterprise edge computing
market will grow 22% in 2023, compared to 4% growth in spending on enterprise
networking equipment and 6% growth in general enterprise IT for the same year,
according to the specialist company's forecasts. in audit services.
Most of this growth will likely come initially from hardware spending, but should
migrate toward software and services as the market matures. Among other tools that
the report highlighted are virtual production and the battle of streaming services,
especially live sports. He also highlighted the role that broadband satellites will play
in navigating a saturated sky and the growth of the virtual reality (VR) market.