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Global Recreational Boating Market Outlook and Forecast Report 2021-2026 Featuring Prominent Vendors – Azimut-Benetti, Bombardier Recreational, Brunswick, Ferretti, Groupe Beneteau

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Dublin, July 15, 2021 (GLOBE NEWSWIRE) — The “Recreational Boating Market – Global Outlook and Forecast 2021-2026” report has been added to ResearchAndMarkets.com’s offering.

The global recreational boating market by revenue is expected to grow at a CAGR of 11.02% during the period 2020-2026.

The leisure boat market is undergoing several transformations. The marine industry is witnessing an increasing appeal among end-users for advanced and innovative features such as joystick docking controls, automatic trim controls, and digital throttles and shifts. Consumers have less time developing driving skills with the hectic lifestyle and compiling practical experience on the water with the hectic lifestyle. Thus, their reliance on automatic controls is growing at an unprecedented rate.

The increasing focus on artificial intelligence is the critical technology process that is likely to be implemented in the marine industry. Artificial intelligence can be used to grow corals that are more immune to high sea temperatures and improve salinity and other variables. In the shipping industry, artificial intelligence makes things easier by impeccably incorporating new shipping logistics and communication technology to develop the business model within the industry.

GLOBAL RECREATIONAL BOATING MARKET SEGMENTATION

The global recreational boating market research report includes a detailed segmentation by Products, Power, Activities, Geography. The global outboard boat market expects to reach USD 22.92 billion by 2026.

Outboard boats are one of the largest selling boats in the North American region. With technological improvements, the demand for high-performance outboard boats has grown considerably. Regulations have played a significant role in the increasing demand for outboard boats. The push toward single-fuel policies to promote safety in the industrial, military, and other end-user segments expects to be a strong global driver for high-powered diesel boats.

In terms of unit shipment, the global engine-powered boat market is likely to reach 882,365 units by 2026, growing at a CAGR of 10.98%. The growing demand for small and medium-sized vessels for fishing and recreational activities would support the market growth of outboard engines during the forecast period. Outboard motors allow boat manufacturers to offer customers ample interior space on boats along with enhanced engine power.

The increasing family tour boat rental practices would boost the demand for these products during the forecast period. In terms of power, engine-powered boats have witnessed significant improvement in terms of horsepower and technology. Stringent emission standards imposed by several countries across the globe and the launch of 4-stroke engines will further support the segment’s growth.

The global cruising market expects to reach USD 54.41 billion by 2026, growing at a CAGR of 11.05%. Developing economies such as APAC have emerged as critical regions witnessing a significant increase in the passenger base. For instance, Mainland China dominates the Asian market, accounting for close to 56% of the Asian passenger volume in 2019.

Most source markets in Asia observed YOY gains in 2019, except for Mainland China and Malaysia. Passenger volumes from Singapore, India, Indonesia, the Philippines, South Korea, Thailand, and Vietnam saw double-digit growth. Further, the expansion of cruise ship capacities is likely to influence the growth of the market. With the rise in cruising activities, the recreational boating market expects to receive more orders for large boats during the forecast period.

INSIGHTS BY GEOGRAPHY

  • The new powerboat unit sale increased by 12% 2020 as compared to 2019. Most of the revenue earned by the US recreational boating market is through product exports. However, in 2015, it became a net importer due to the strengthening of the US dollar.
  • With the growing consumer confidence over the last few years, boat manufacturers are introducing new products and experiences to attract young boaters. Recent boat sales and recreational boating expenditure grew for the eighth consecutive year in 2019. In 2020, the boat sales reached a 13-year high, and this trend expects to continue during 2021.

INSIGHTS BY VENDORS

The global recreational boat market is fragmented due to the presence of local and global players. The market concentration in developed countries such as the US and other Western European countries is high. The market is in a growth stage in developing economies such as China because of the entry of many international brands in these countries.

The competition among vendors is based on product offerings and pricing. Vendors are using new business models and focusing on developing the portfolio of their established products to drive growth. The focus in yachts is heavily shifting towards luxury products, which is likely to provide vast opportunities to the vendors during the forecast period.

Prominent Vendors

  • Azimut-Benetti Group
  • Bombardier Recreational Products (BRP)
  • Brunswick Corporation
  • Ferretti
  • Groupe Beneteau

Other Prominent Vendors

  • Albemarle Boats
  • Baja Marine
  • Bavaria Yachts
  • Bertram Yachts
  • Boston Whaler Boats
  • Catalina Yachts
  • Correct Craft
  • Custom Weld Boats
  • Duckworth Boats
  • Explorer Industries
  • Fountain Powerboats
  • Godfrey
  • Grady-White Boats
  • Grand Banks Yachts
  • HanseYachts
  • High Caliber
  • Hobie
  • Lund
  • Malibu
  • Marine Products Corporation
  • Marlow Hunter
  • Maverick Boat Group
  • MCBC Holdings
  • Pacific Asian Enterprises
  • Porter
  • Princess Yachts
  • Sunseeker International
  • Thunder Jet
  • Viking Yacht
  • White River Marine Group
  • Yamaha
  • Zodiac Marine & Pool

Key Topics Covered:

1 Research Methodology

2 Research Objectives

3 Research Process

4 Scope & Coverage
4.1 Market Definition
4.2 Base Year
4.3 Scope of the Study
4.4 Market Segments

5 Report Assumptions & Caveats
5.1 Key Caveats
5.2 Currency Conversion
5.3 Market Derivation

6 Market at a Glance

7 Introduction
7.1 Overview
7.2 Recreational Boat Overview
7.3 Technological Advancements in Recreational Boating
7.4 Dawn of Electric & Hybrid Engines
7.5 Luxury Market
7.6 Impact Of COVID-19

8 Market Opportunities & Trends
8.1 Advancements in Marine Technology
8.2 Expected Growth in Consumer Confidence
8.3 Growing Opportunities in Electric Boat Industry

9 Market Growth Enablers
9.1 Rising Demand for Outboard Power Boats
9.2 Increasing Participation in Leisure Boating Activities in Europe
9.3 Rising Expenditure on Luxury Products & Services

10 Market Growth Restraints
10.1 Environmental Pollution Caused by Boating
10.2 Concept of Rental & Used Boat Services
10.3 Failure to Attract Millennials

11 Value Chain Analysis
11.1 Value Chain Overview

12 Market Landscape
12.1 Market Overview
12.2 Market Size & Forecast
12.3 Key Factors Impacting Recreational Boat Market
12.4 Superyacht Order Book
12.5 Five Forces Analysis

13 Boat Type
13.1 Market Snapshot & Growth Engine (Revenue)
13.2 Market Snapshot & Growth Engine (Units)
13.3 Market Overview
13.4 Outboard Boats
13.5 Inboard/Sterndrive Boat
13.6 Personal Watercraft Boat
13.7 Yachts
13.8 Other Boats

14 Power
14.1 Market Snapshot & Growth Engine (Revenue)
14.2 Market Snapshot & Growth Engine (Units)
14.3 Market Overview
14.4 Engine-Powered Boats
14.5 Sail-Propelled Boats
14.6 Man-Powered Boats

15 Activity
15.1 Market Snapshot & Growth Engine (Revenue)
15.2 Market Snapshot & Growth Engine (Units)
15.3 Market Overview
15.4 Cruising
15.5 Watersports
15.6 Fishing

For more information about this report visit https://www.researchandmarkets.com/r/ta80yz


GlobeNewswire is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.

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JupiterOne and watchTowr announce partnership to protect business critical assets with broad exposure management capabilities

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SINGAPORE, May 2, 2024 /PRNewswire/ — watchTowr, a leader in external attack surface management (EASM) technology and fuelled by watchTowr Labs, a renowned vulnerability R&D capability, has formed a strategic partnership with JupiterOne. JupiterOne is a leader in cyber asset attack surface management (CAASM) technology. This collaboration enables customers to rapidly prioritize emerging threats within their constantly changing environments, focusing on fixing the most critical risks impacting their business, which enables an end-to-end continuous threat exposure management process (CTEM).

Over 28,000 CVE records were published in 2023; a figure that is expected to increase as attackers shorten the time from known vulnerability to exploit, reducing it from weeks to days. JupiterOne and watchTowr’s integrated solution empowers enterprises to discover their most critical and exploitable vulnerabilities, prioritize them with asset context based on business impact and receive an actionable remediation plan to improve security posture.
This partnership enables a complete continuous threat exposure management program, addressing the full spectrum of cyber risk management. The fully integrated solution provides continuous monitoring and assessment of both internal and external digital assets, allowing for prioritization and effective threat mitigation for a business’s most critical assets. “Our partnership with watchTowr is a game-changer” said Forte. “Combining our data aggregation with real-time asset discovery and automated security testing allows us to offer a unique, all-encompassing approach to exposure management.”
Benjamin Harris, CEO, watchTowr, said, “While the number of reported vulnerabilities continues to rise, the vulnerabilities that matter – in mission-critical, key systems – have exploded at an alarming rate. This reality, combined with the significant shift in speed by attackers to weaponize vulnerabilities – the ability to validate exploitability and prioritise actions based on real business risk has never been more vital. We’re excited to join forces with JupiterOne to give security teams around the globe this much-needed end-to-end capability.”
About JupiterOne:
JupiterOne is a cybersecurity startup delivering powerful software solutions to companies across all industries, providing deep insights to cyber assets and the relationships between, empowering security professionals to have true knowledge and ownership of their attack surfaces.
About watchTowr: 
watchTowr is a global cybersecurity technology company, built by former adversaries.
watchTowr’s world-class External Attack Surface Management and Continuous Automated Red Teaming technology is informed by years of experience compromising some of the world’s most targeted organisations and utilised by Fortune 500, financial services and critical infrastructure providers every day.
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Clarivate Declares Dividend on Mandatory Convertible Preferred Shares

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LONDON, May 1, 2024 /PRNewswire/ — Clarivate Plc (NYSE: CLVT; CLVT PR A) (“Clarivate”), a leading global provider of transformative intelligence, today announced that its board of directors declared a quarterly dividend of $1.3125 per share on its 5.25% Series A Mandatory Convertible Preferred Shares (the “Preferred Shares”), payable in cash on June 3, 2024 to shareholders of record at the close of business on May 15, 2024.

On the mandatory conversion date, which is scheduled to occur on June 3, 2024, each Preferred Share will automatically and mandatorily convert into a number of ordinary shares of Clarivate (and cash in lieu of any fractional ordinary shares) based on the average volume weighted average price (“VWAP”) of Clarivate’s ordinary shares over a 30-trading day period that begins on, and includes, April 18, 2024 and is scheduled to end on, and include, May 30, 2024 (the “valuation period”). If such VWAP is (i) greater than $31.20, then the mandatory conversion rate will be 3.2052 ordinary shares of Clarivate per Preferred Share, (ii) less than or equal to $31.20 but equal to or greater than $26.00, then the mandatory conversion rate will be a number of ordinary shares of Clarivate per Preferred Share equal to $100.00 divided by such VWAP and (iii) less than $26.00, then the mandatory conversion rate will be 3.8462 ordinary shares of Clarivate per Preferred Share. The mandatory conversion rate will be announced following the end of the valuation period. The above description of the terms of the Preferred Shares is not complete and is subject to, and qualified in its entirety by reference to, the “Statement of Rights” for the Preferred Shares, which is filed as Exhibit 3.2 to Clarivate’s annual report on Form 10-K for the fiscal year ended December 31, 2023.
Cautionary Note Regarding Forward-Looking Statements
This communication contains “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. These statements, which express management’s current views concerning future business, events, trends, contingencies, financial performance, or financial condition, appear at various places in this communication and may use words like “aim,” “anticipate,” “assume,” “believe,” “continue,” “could,” “estimate,” “expect,” “forecast,” “future,” “goal,” “intend,” “likely,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “see,” “seek,” “should,” “strategy,” “strive,” “target,” “will,” and “would” and similar expressions, and variations or negatives of these words. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on management’s current beliefs, expectations, and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy, and other future conditions. These forward-looking statements involve a number of risks and uncertainties (some of which are beyond our control) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include those factors discussed under the caption “Risk Factors” in our annual report on Form 10-K, along with our other filings with the U.S. Securities and Exchange Commission (“SEC”). However, those factors should not be considered to be a complete statement of all potential risks and uncertainties. Additional risks and uncertainties not known to us or that we currently deem immaterial may also adversely affect our business operations. Forward-looking statements are based only on information currently available to our management and speak only as of the date of this communication. We do not assume any obligation to publicly provide revisions or updates to any forward-looking statements, whether as a result of new information, future developments or otherwise, except as otherwise required by securities and other applicable laws. Please consult our public filings with the SEC or on our website at www.clarivate.com.
About Clarivate
Clarivate™ is a leading global provider of transformative intelligence. We offer enriched data, insights & analytics, workflow solutions and expert services in the areas of Academia & Government, Intellectual Property and Life Sciences & Healthcare. For more information, please visit www.clarivate.com.
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CGTN: 3rd CMG Forum in Beijing discusses AI development

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BEIJING, May 1, 2024 /PRNewswire/ — Focusing on the development of AI, the third CMG Forum was held on Monday in Beijing.

Li Shulei, a member of the Political Bureau of the Communist Party of China (CPC) Central Committee and the head of the Publicity Department of the CPC Central Committee, attended the opening of the event and delivered a speech.
Guests at the forum stressed the role of media in promoting the innovative application of AI as well as its governance.
Efforts should also be made to boost the development of AI in creating positive, healthy, diverse and high-quality content, so that AI can become a force for good and benefit mankind, they agreed.
They also called on media to accelerate intelligent transformation and help bridge international exchanges and cooperation on the governance of AI to facilitate its healthy, orderly and safe development.
Hosted by China Media Group (CMG), the forum attracted more than 200 participants from international organizations, media, think tanks and multinational companies.
“Innovation and breakthroughs in science and technology not only guide the development and progress of human civilization, but also bring uncertainty to the changing world,” said Shen Haixiong, vice minister of the Publicity Department of the CPC Central Committee and president of CMG. He called for efforts to jointly create valuable and responsible artificial intelligence.
AI technology is affecting every aspect of our lives. Thomas Bach, president of the International Olympic Committee (IOC), stated in a video speech that CMG has always been a partner of the IOC, bringing the charm of the Olympic Games to hundreds of millions of Chinese viewers. He said the IOC invites CMG to work together for the creation of a future with the application of AI in Olympic sports.
“From ancient inventions such as silk, printing and the compass to modern technological advances such as robotics, telecommunications and green technology, China has always been committed to innovation and creation,” said Daren Tang, director general of the World Intellectual Property Organization (WIPO). He said WIPO pays close attention to ensuring a balance between the opportunities and risks of artificial intelligence and is committed to strengthening cooperation to ensure that artificial intelligence is properly used.
https://news.cgtn.com/news/2024-04-30/3rd-CMG-Forum-in-Beijing-discusses-AI-development-1tdDcXvCexG/p.html

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