Artificial Intelligence
Aramis Group – strong revenue growth in 3rd quarter ended 30 June 2021
PRESS RELEASE
Strong revenue growth in 3rd quarter ended 30 June 2021
Triple-digit growth of B2C refurbished used cars sales
- Group revenue1 growth of 68% in 3rd quarter ended 30 June 2021 to €377.5 million on a combined2 basis (+32% over the first nine months of the fiscal year).
- 68% increase in volumes with 23,197 B2C vehicles sold during the quarter, including 14,346 B2C refurbished used cars
- 116% growth in revenues from sales of B2C refurbished used cars in Q3 (and +48% over the first nine months on a combined basis)
- Very strong performance in all countries where the Group operates
- Integration of CarSupermarket in the United Kingdom well on track with already visible achievements
- Successful IPO on Euronext Paris in June providing the Group with significant firepower to fuel its pan European expansion and accelerate its growth
- Confirmation of all 2021 full-year targets
Paris, 29 July 2021 – Aramis Group, a European leader in online sales of used cars operating the Aramisauto, Cardoen, Clicars and CarSupermarket brands, in France, Belgium, Spain and the United Kingdom respectively, published today revenue figures for the third quarter of 20211, which ended on 30 June 2021.
Nicolas Chartier and Guillaume Paoli, co-founders and respectively Chairman and CEO and Deputy CEO of Aramis Group declared:
“The Group’s performance in the third quarter was extremely positive. Our remarkable growth was driven by very strong trends in the B2C segment, and particularly in our refurbished used car activity, which is at the heart of the Group’s profitable growth strategy. All countries in which the Group operates saw very solid double-digit growth and the integration of CarSupermarket in the United Kingdom is proceeding as planned. We are also continuing our efforts to ensure constant improvements in the customer experience, such as the introduction of car delivery in less than 24 hours in France and Spain. Despite continued uncertainty on the sanitary situation, our outlook remains positive and we confirm all our targets for FY2021.”
| Q3 2021 | Q3 2020 Combined |
Growth | 9M 2021 Combined |
9M 2020 Combined |
Growth | |
| Volumes B2C (in units) | 23,197 | 13,806 | +68% | 58,818 | 45,424 | +29% |
| Refurbished | 14,346 | 6,593 | +118% | 35,763 | 24,655 | +45% |
| Pre-registered | 8,851 | 7,213 | +23% | 23,055 | 20,769 | +11% |
| Revenue by segment (in million euros) | ||||||
| B2C | 331.0 | 203.5 | +63% | 840.5 | 649.0 | +30% |
| Refurbished | 196.6 | 91.1 | +116% | 498.0 | 337.2 | +48% |
| Pre-registered | 134.4 | 112.4 | +20% | 342.4 | 311.8 | +10% |
| B2B | 27.2 | 13.5 | +102% | 74.6 | 52.0 | +43% |
| Services | 19.3 | 8.2 | +134% | 51.2 | 32.6 | +57% |
| Revenue by country (in million euros) |
||||||
| France | 194.9 | 147.4 | +32% | 496.9 | 403.8 | +23% |
| United Kingdom | 75.0 | 38.7 | +94% | 199.4 | 181.3 | +10% |
| Belgium | 49.8 | 27.9 | +78% | 133.7 | 111.6 | +20% |
| Spain | 57.8 | 11.2 | +418% | 136.4 | 37.0 | +269% |
| Total revenue2 (in million euros) |
377.5 | 225.2 | +68% | 966.3 | 733.6 | +32% |
Q3 2021 REVENUE
Revenue was €377.5 million2 in the third quarter, representing an increase of 68% relative to the third quarter ended 30 June 2020 on a combined basis. This excellent performance was driven by the strength of B2C sales of refurbished used cars and a solid showing in all the Group’s geographies.
Breakdown of revenue by segment
The Group’s performance was boosted in particular by very strong growth in the segment of refurbished used cars for private buyers (B2C). The Group posted growth of 116% in this segment over the third quarter, relative to the third quarter ended 30 June 2020 on a combined basis, driven by an increase of the Group’s sourcing and refurbishment capacities as well as successful online and offline marketing campaigns in all the group geographies. The pre-registered car segment grew by 20% despite a challenging new car market. The B2B and Services segments saw growth of 102% and 134% respectively across all the Group’s national markets.
Breakdown of revenue by country
The Group saw exceptional growth in all its four geographies.
In France, the Group returned solid growth of 32% over the third quarter, with revenue of €194.9 million. This good performance came in part from the strong market for B2C refurbished cars and productivity improvements in its refurbishment centre. In addition, the Group continued to gain market share in the B2C pre-registered cars segment, despite a challenging new car market.
In Spain, the Group recorded an exceptional performance, with growth of 418% compared to the same period in 2020, taking revenue to €57.8 million in the third quarter. This performance allowed the Group to consolidate its leading position in this market, which is the 5th biggest in Europe. This level of growth has been achieved thanks to high-quality marketing campaigns, diversified supply that is well-adapted to its customers’ demands and the extension of its refurbishment capacity.
In the United Kingdom, the Group generated revenue of €75.0 million, representing growth of 94% relative to the third quarter of 2020. Number 1 European market in size for B2C used car, the UK market remains highly attractive and the integration of CarSupermarket is proceeding as planned with already visible achievements. A new Finance Director has recently joined the team and working methods continue to be harmonised, allowing the Group to improve the productivity of its refurbishing centre. The Group has also increased its refurbishment capacity and launched marketing campaigns to boost CarSupermarket brand and sales.
In Belgium, revenue was €49.8 million in the third quarter, representing an increase of +78% on 2020. This solid growth was driven by the strong refurbished cars sales performance. As in France, the Group also gained market share in the B2C pre-registered cars segment, despite pressure on the market.
KEY STRATEGIC INITIATIVES
Over the quarter, the Group successfully continued to deliver on its profitable growth strategy. It notably implemented several initiatives to increase traffic on its websites (+71% growth compared to Q3 2020) and improve its brands recognition, including strengthened media investments and new TV campaigns in Belgium and Spain.
Aramis Group leveraged its digital know-how to improve its sourcing and refurbishing capacities by strongly accelerating C2B procurement and using artificial intelligence to improve productivity in its industrial sites. The Group has also been extending its refurbishment site in Villaverde, near Madrid, in Spain.
To further increase customer conversion and satisfaction, Aramis group also implemented several initiatives. It notably launched next-day delivery in France and Spain and extended its return-or-money-back guarantee in France from 15 to 30 days.
ALL TARGETS CONFIRMED
Aramis Group is confirming all its targets for the fiscal year ending on 30 September 2021, announced in the context of its initial public offering, provided that the health crisis does not further disrupt current business levels. Aramis Group aims for organic revenue3 to be above €1.25bn and for an EBITDA4 margin of between 2.7% and 2.9%.
The Group also expects B2C sales of 45,000 refurbished used cars in the year to 30 September 2021, representing pro forma organic growth of 35% on 2020.
Aramis Group is also confirming all its mid to long term targets presented at the IPO.
***
Upcoming Financial Information
2021 annual sales: November 9, 2021 (pre market)
2021 annual results: December 9, 2021
About Aramis Group
Aramis Group is a leading European B2C platform to acquire a used car online and brings together four brands: Aramisauto, Cardoen, Clicars and CarSupermarket, in France, Belgium, Spain and the UK respectively. The Group is transforming the used car market and is putting digital technology at the service of customer satisfaction with a fully vertically integrated business model. Including CarSupermarket contribution, in FY2020, Aramis Group had pro forma revenues of c.€1.1 billion, sold 66,000 vehicles B2C, and had 1,400 employees, 60 customer centres and 3 industrial refurbishing sites. The Group’s websites recorded 20M visits in Q3 FY2021. Aramis Group is listed on compartment A of the Euronext Paris stock exchange (Ticker: ARAMI – ISIN: FR0014003U94). For more information, visit www.aramis.group.
Media Contacts
Brunswick
[email protected]
Hugues Boëton +33 (0) 6 79 99 27 15
Tristan Roquet Montegon +33 (0)6 37 00 52 57
Investors Contact
Aramis Group
[email protected]
Disclaimer
Certain information included in this press release are not historical facts but are forward-looking statements. These forward-looking statements are based on current beliefs, expectations and assumptions, including, without limitation, assumptions regarding present and future business strategies and the environment in which Aramis Group operates, and involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements, or industry results or other events, to be materially different from those expressed or implied by these forward-looking statements. These risks and uncertainties include those discussed or identified under Chapter 3 “Facteurs de Risques” in the Registration Document dated 25 May 2021, approved by the AMF under number I. 21-024 and available on the Company’s website (www.aramis.group) and the AMF’s website (www.amf-france.org). These forward-looking information and statements are not guarantees of future performances.
Forward-looking statements speak only as of the date of this press release and Aramis Group expressly disclaims any obligation or undertaking to release any update or revisions to any forward-looking statements included in this press release to reflect any change in expectations or any change in events, conditions or circumstances on which these forward-looking statements are based. Such forward-looking statements are for illustrative purposes only.
This press release includes only summary information and does not purport to be comprehensive. No reliance should be placed on the accuracy or completeness of the information or opinions contained in this press release.
Some of the financial information contained in this press release is not directly extracted from Aramis Group’s accounting systems or records and is not IFRS (International Financial Reporting Standards) accounting measures. It has not been independently reviewed or verified by Aramis Group’s auditors.
This press release does not contain or constitute an offer of securities for sale or an invitation or inducement to invest in securities in France, the United States or any other jurisdiction.
1 Revenues excluding B2B export vehicle purchase and sale activities in Belgium, which the Group does not plan to pursue in the medium term.
2 In this press release:
(i) revenue and sales volumes for the 3rd quarter ended 30 June 2021 include revenue and sales volumes recorded from 1 April 2021 to 30 June 2021 by Aramis Group on its consolidation perimeter, which includes CarSupermarket since 1 March 2021;
(ii) combined revenue and sales volumes for the 3rd quarter ended 30 June 2020 include the combined revenue and sales volumes of Aramis Group and CarSupermarket from 1 April 2020 to 30 June 2020;
(iii) combined revenue and sales volumes for the 9-month period ended 30 June 2021 include revenue and sales volumes for the 3rd quarter ended 30 June 2021, as described in (i) above, and combined revenue and sales volumes of Aramis Group and CarSupermarket from 1 October 2020 to 31 March 2021;
(iv) combined revenue and sales volumes for the 9-month period ended 30 June 2020 include combined revenue and sales volumes of Aramis Group and CarSupermarket from 1 October 2019 to 30 June 2020.
3Based on the pro forma consolidation perimeter of the Group at 30 September 2020 and including change in consolidation perimeter related to the acquisition of CarSupermarket in the United Kingdom.
4Based on the pro forma consolidation perimeter of the Group at 30 September 2020 and including change in consolidation perimeter related to the acquisition of CarSupermarket in the United Kingdom
Attachment
Artificial Intelligence
Data Center Chip Market Size was Valued at USD 11.7 Billion in 2022 and is Expected to Reach USD 45.3 Billion by 2032 at a CAGR of 14.6% | Valuates Reports
BANGALORE, India, July 26, 2024 /PRNewswire/ — Data Center Chip Market By Chip Type (GPU, ASIC, FPGA, CPU, Others), By Data Center Size (Small and Medium Size, Large Size), By Industry Verticals (BFSI, Manufacturing, Government, IT and Telecom, Retail, Transportation, Energy and Utilities, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032.
The Data Center Chip Market was valued at USD 11.7 Billion in 2022, and is estimated to reach USD 45.3 Billion by 2032, growing at a CAGR of 14.6% from 2023 to 2032.
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Major Factors Driving the Growth of Data Center Chip Market
Because of the growing need for data processing and storage solutions brought about by the quick development of cloud computing, artificial intelligence, and big data analytics, the data center chip market is expanding significantly. High-performance chips are necessary for data centers to process massive volumes of data quickly and efficiently. As a result, advances in chip technology, including CPUs, GPUs, and specialist AI processors, have been made. The need for more resilient and scalable data center infrastructure is fueled in part by the expansion of digital services and Internet of Things (IoT) devices. The market is expanding due to key areas including Asia-Pacific, with its investments in technology and fast digital transformation, and North America, with its top tech businesses and vast data center networks.
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TRENDS INFLUENCING THE GROWTH OF THE DATA CENTER CHIP MARKET:
In data centers, Graphics Processing Units (GPUs) are essential for speeding up computing operations and data processing. They are perfect for managing workloads related to artificial intelligence (AI), machine learning, and large-scale data analytics because of their parallel processing capabilities. The need for GPUs in data centers is growing as these technologies become increasingly essential to corporate operations. Businesses are purchasing GPUs in order to increase the effectiveness of their data processing, lower latency, and boost overall performance. The need for data center chips is being driven by the increasing reliance on GPUs for sophisticated computing activities, which is considerably contributing to the market’s rise. This need is further increased by the growing use of AI and machine learning in a variety of sectors, which puts GPUs at the forefront of the data center semiconductor industry.
Compared to general-purpose chips, Application Specific Integrated Circuits (ASICs) provide better performance and efficiency since they are designed specifically for a given application. ASICs are extensively utilized in data centers for specific tasks including networking, data compression, and encryption. ASICs are becoming more and more common as a result of the growth of cloud computing, big data analytics, and blockchain technology, which has increased demand for high-performance, energy-efficient processors. Their capacity to provide tailored performance for certain applications aids data centers in better workload management, power conservation, and operating expense reduction. The market is expanding as a result of the increased preference for ASICs in data centers, which is fueling the need for specialized data center chips.
Large data centers are important users of data center chips; they are run by well-known IT firms and cloud service providers. To manage enormous volumes of data and provide a wide range of services, these facilities need a great deal of processing power and sophisticated computing skills. High-performance data center chips are becoming more and more necessary as a result of the growth of massive data centers and the rising demand for online streaming, cloud services, and digital transactions. These chips are necessary to ensure effective data management, processing, and storage, which helps big data centers fulfill the increasing expectations of its clientele. Large data center proliferation is anticipated to considerably boost the data center chip industry as the digital economy continues to grow.
Data centers are becoming more and more important to the Banking, Financial Services, and Insurance (BFSI) industry as a means of safely and effectively managing high transaction volumes, consumer data, and financial records. The need for sophisticated data center processors is being driven by the sector’s requirement for real-time data processing, high-performance computing, and strong security measures. BFSI organizations may improve their operational efficiency, guarantee data integrity, and deliver superior client services by utilizing data centers fitted with robust chips. The BFSI sector’s need for data center chips is being driven by the increasing use of online banking, digital banking, and financial analytics tools, all of which increase the requirement for sophisticated data center infrastructure.
The market for data center chips is significantly influenced by the cloud computing industry’s explosive growth. There is a growing need for scalable, effective, and high-performance data center infrastructure as more companies move their operations to the cloud. In order to handle enormous volumes of data, facilitate virtualization, and guarantee flawless service delivery, cloud service providers need sophisticated data center chips. Sturdy data center chips are becoming more and more necessary as cloud-based solutions become more and more popular. Benefits like cost savings, flexibility, and scalability are driving this trend. In places like North America and Europe, where cloud adoption rates are high and data center chip demand is rising rapidly, this tendency is especially significant.
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DATA CENTER CHIP MARKET SHARE
In 2022, North America gained a sizable portion of the market.
In 2022, the GPU made up the largest portion of the market share.
Throughout the projection period, large data centers are expected to gain a significant portion.
The BFSI market is anticipated to be one of the most profitable markets.
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Key Companies:
Advanced Micro Devices IncTaiwan Semiconductor Manufacturing Company LimitedBroadcomHuawei Technologies Co LtdIntel CorporationNVidia CorporationSamsung Electronics Co LtdQualcomm Technologies IncGlobalFoundriesARM LIMITED (SOFTBANK GROUP CORP.)Purchase Chapters @ https://reports.valuates.com/request/chaptercost/ALLI-Auto-2B326/Data_Center_Chip_Market
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Artificial Intelligence
Industry 4.0 Market to Surpass USD 513.89 Billion by 2031 with Automation Surge | SkyQuest Technology
WESTFORD, Mass., July 26, 2024 /PRNewswire/ — According to SkyQuest, the global Industry 4.0 Market size was valued at USD 133.05 billion in 2022 and is poised to grow from USD 154.6 billion in 2023 to USD 513.89 billion by 2031, growing at a CAGR of 16.2% during the forecast period (2024-2031).
Industry 4.0 or the fourth industrial revolution emphasizes the use of automation and interconnectivity. Employment of advanced technologies such as artificial intelligence, machine learning, robotics, and connected devices to improve the productivity and efficiency of industries. Rapid digitization and advancements in technology are forecasted to bolster the Industry 4.0 market growth over the coming years. The global Industry 4.0 market is segmented into technology, industry vertical, and region.
Download a detailed overview:
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Industry 4.0 Market Overview:
Report Coverage
Details
Market Revenue in 2023
$ 154.6 billion
Estimated Value by 2031
$ 513.89 billion
Growth Rate
Poised to grow at a CAGR of 16.2%
Forecast Period
2024–2031
Forecast Units
Value (USD Billion)
Report Coverage
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered
Technology, Industry and Region
Geographies Covered
North America, Europe, Asia Pacific, Latin America, and Middle East and Africa.
Report Highlights
Internet of Things (IoT) technology takes centerstage for Industry 4.0 adoption
Key Market Opportunities
Adoption of smart manufacturing and additive manufacturing practices
Key Market Drivers
Rising demand for automation across all industry verticals
Segments covered in Industry 4.0 Market are as follows:
TechnologyRobots (Traditional Industrial Robots {Articulated robots, Cartesian Robots, Selective Compliance Assembly Robot Arm (SCARA), Cylindrical Robots, Others}, Collaborative Robots), Blockchain in Manufacturing, Industrial Sensors (Level Sensors, Temperature Sensors, Flow Sensors, Position Sensors, Pressure Sensors, Force Sensors, Humidity & Moisture Sensors, Gas Sensors), Industrial 3D Printing, Machine Vision (Camera {Digital Camera, Smart Camera}, Frame Grabbers, Optics, and LED Lighting, Processor and Software), HMI (Offering {Hardware [Basic HMI, Advanced Panel-based HMI, Advanced PC-based HMI, Others], Software [On-premises HMI, Cloud-based HMI], Services}), Configuration ({Embedded HMI, Standalone HMI}, Technology {Motion HMI, Bionic HMI, Tactile HMI, Acoustic HMI}, End-user Industry {Process industries [Oil & Gas, Food & beverages, Pharmaceuticals, Chemicals, Energy & power, Metals & mining, Water & wastewater, Others], Discrete industry [Automotive, Aerospace & defense, Packaging, Medical devices, Semiconductor & electronics, Others]}), AI In Manufacturing (Offering {Hardware [Processor MPU, GPU, FPGA, ASIC, Memory, Network], Software [AI solutions- | On-premises, Cloud |, AI platform- | Machine learning framework, Application program interface |], Services [Deployment & integration, Support & maintenance]}, Technology {Machine learning [Deep learning, Supervised learning, Reinforcement learning, Reinforcement learning, Others], Natural language processing [Context-aware computing, Computer vision]}, Application {Predictive maintenance and machinery inspection, Material movement, Production planning, Field services, Quality control, Cybersecurity, Industrial robots, Reclamation}, Digital Twin {Technology [Internet of Things (IOT), Blockchain, Artificial intelligence & machine learning, Artificial intelligence & machine learning, Big data analytics, 5G], Usage Type [Product digital twin, Process digital twin, System digital twin], Application [Product design & development, Performance monitoring, Predictive maintenance, Inventory management, Business optimization, Others]}, Automated Guided Vehicles (AGV) {Type [Tow vehicles, Unit load carriers, Pallet trucks, Assembly line vehicles, Forklift trucks, Others], Navigation Technology [Laser guidance, Magnetic guidance, Inductive guidance, Optical tape guidance, Vision guidance, Others]}, Machine Condition Monitoring {Monitoring Technique [Vibration monitoring, Embedded systems, Vibration analyzers and meters, Thermography, Oil analysis, Corrosion monitoring, Ultrasound emission, Motor current analysis], Offering [Hardware – Vibration sensors, Accelerometers, Tachometers, Infrared sensors, Spectrometers, Ultrasound detectors, Spectrum analyzers, Corrosion probes], Software [Data integration, Diagnostic reporting, Order tracking analysis, Parameter calculation], Deployment Type [On-premises deployment, Cloud deployment], Monitoring Process [Online condition monitoring, Portable condition monitoring]})IndustryManufacturing, Automotive, Energy, Medical, Semiconductor & Electronics, Food & Beverage, Oil & Gas, Aerospace, Metals & Mining, Chemicals, and OthersRequest Free Customization of this report:
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Internet of Things (IoT) Technology to Remain Indispensable for Industry 4.0
Internet of Things (IoT) remains the most crucial technology in global Industry 4.0 market growth owing to its role in interconnectivity and automation across different verticals. Advancements in connectivity technologies and rising use of automation in different industry verticals are also estimated to help this sub-segment gain an impressive market share. Surging demand for predictive maintenance will also boost the adoption of IoT technology in the long run.
Advanced robotic technologies are also slated to gain traction in the Industry 4.0 market. Growing acceptance of robots and high investments in advancements of robotic technologies are also slated to create new opportunities for providers of advanced robotics in the Industry 4.0 market. The low margin of error and the immense scope of automation are key benefits of robotics that help this sub-segment flourish.
Artificial intelligence (AI) will be another popular technology in the Industry 4.0 world going forward. Increasing demand for continuous monitoring, real-time analytics, and predictive maintenance are slated to help the demand for artificial intelligence in the future. The rising use of IoT devices will also boost the demand for cloud computing technology in the long run.
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https://www.skyquestt.com/report/industry-4-0-market
Manufacturing Vertical to Spearhead Industry 4.0 Market Development
The manufacturing vertical is estimated to be at the forefront when it comes to Industry 4.0 adoption. The surge in use of robotics, advanced technologies, and smart manufacturing practices sets the tone for Industry 4.0 in this industry vertical. High emphasis on improving manufacturing efficiency, reducing downtime, and maximizing profits are all contributing to the high market share of this sub-segment.
The automotive industry is another vertical where Industry 4.0 market players could invest to get good returns. The high adoption of advanced robotics and other smart manufacturing technologies to maximize production allows this sub-segment to become a crucial one for Industry 4.0 providers. The aerospace and defense industry vertical also shows a lot of promise for Industry 4.0 companies going forward. Growing demand for advanced manufacturing techniques and technologies to create complex aerospace components is helping Industry 4.0 market growth via this segment.
The oil & gas industry is also estimated to embrace Industry 4.0 trend with open hands as they try to improve their operations and promote better resource utilization. High demand for predictive maintenance to reduce downtime and the growing adoption of digital oilfield solutions are estimated to bolster Industry 4.0 market development in the long run.
To sum it up, the application scope for Industry 4.0 is endless as automation and digitization pick up pace around the world. High investments in development of IoT and AI technologies will create better opportunities for Industry 4.0 companies in the future. The manufacturing industry will remain the top revenue generating sub-segment and more opportunities for aerospace, automotive, and oil & gas verticals will be seen over the coming years.
Related Report:
Digital Twin Market
Cyber Security Market
Artificial Intelligence (AI) Market
Internet Of Things (IoT) Market
Machine Learning Market
About Us:
SkyQuest is an IP focused Research and Investment Bank and Accelerator of Technology and assets. We provide access to technologies, markets and finance across sectors viz. Life Sciences, CleanTech, AgriTech, NanoTech and Information & Communication Technology.
We work closely with innovators, inventors, innovation seekers, entrepreneurs, companies and investors alike in leveraging external sources of R&D. Moreover, we help them in optimizing the economic potential of their intellectual assets. Our experiences with innovation management and commercialization has expanded our reach across North America, Europe, ASEAN and Asia Pacific.
Contact: Mr. Jagraj SinghSkyQuest Technology1 Apache Way,Westford,Massachusetts 01886USA (+1) 351-333-4748Email: [email protected] Our Website: https://www.skyquestt.com/
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Artificial Intelligence
Generative AI Cybersecurity Market worth $40.1 billion by 2030 – Exclusive Report by MarketsandMarkets™
CHICAGO, July 26, 2024 /PRNewswire/ — The Generative AI cybersecurity Market is anticipated to experience substantial expansion, ascending from a value of USD 7.1 billion in 2024 to a substantial worth of USD 40.1 billion by the year 2030, according to a new report by MarketsandMarkets™. This growth trajectory reflects a robust compound annual growth rate (CAGR) of 33.4% over the forecast period.
Browse in-depth TOC on “Generative AI cybersecurity Market”
350 – Tables 60 – Figures450 – Pages
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Scope of the Report
Report Metrics
Details
Market size available for years
2019–2030
Base year considered
2023
Forecast period
2024–2030
Forecast units
USD (Million)
Segments Covered
Offering, Generative AI-based Cybersecurity, Cybersecurity for Generative AI, Security Type, End-user, and Region
Geographies covered
North America, Europe, Asia Pacific, Middle East & Africa, and Latin America
Companies covered
Microsoft (US), IBM (US), Google (US), SentinelOne (US), AWS (US), NVIDIA (US), Cisco (US), CrowdStrike (US), Fortinet (US), Zscaler (US), Trend Micro (Japan), Palo Alto Networks (US), BlackBerry (Canada), Darktrace (UK), F5 (US), Okta (US), Sangfor (China), SecurityScorecard (US), Sophos (UK), Broadcom (US), Trellix (US), Veracode (US), LexisNexis (US), Abnormal Security (US), Adversa AI (Israel), Aquasec (US), BigID (US), Checkmarx (US), Cohesity (US), Credo AI (US), Cybereason (US), DeepKeep (Israel), Elastic NV (US), Flashpoint (US), Lakera (US), MOSTLY AI (Austria), Recorded Future (US), Secureframe (US), Skyflow (US), SlashNext (US), Snyk (US), Tenable (US), TrojAI (Canada), VirusTotal (Spain), XenonStack (UAE), and Zerofox (US).
This dramatic surge is being fueled by a number of causes. The primary growth driver is the enhancement of existing cybersecurity tools through generative AI algorithms by improving anomaly detection, automating threat hunting and penetration testing, and providing complex simulations for security testing purposes. These techniques enable various cyber-attack scenarios that can be simulated using the Generative Adversarial Networks (GANs), thus enabling the development of better preparedness and response strategies. On the other hand, it requires special cyber security tools to protect generative AI workloads against unique vulnerabilities such as adversarial attacks, model inversions and LLM poisoning. These tools include differential privacy and secure multi-party computation that are integrated into AI systems for training and deployment data protection purposes.
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Generative AI apps security segment will account for largest market share during the forecast period.
The cybersecurity landscape is rapidly changing for generative AI apps, which are already making their way into chatbots, content creation tools like word processors, and personalized recommendation systems. According to McAfee, 55% of these programs have had security breaches. This highlights the dire need for stronger protective measures from unauthorized access. Several generative AI applications that use adversarial techniques to force the desired reaction out of intelligent machines.
Therefore, there is a pressing demand in the number of developers who ensure that such machines are made more robust through techniques like adversarially trained models and resistant architectures. Finally, the usage of secure enclaves plus hardware-based security measures is growing off late, mainly aimed at safeguarding vulnerable AI computations from being tampered with. For instance, OpenAI has very strict security rules meant to protect GPT models thereby ensuring data integrity and user privacy.
By end-user, government & defense sector is poised to account for larger market share in 2024.
Government as well as defense industries are increasingly resorting to generative AI for cyber security purposes due to the urgency of protecting sensitive information and national security. According to a recent CSIS report, AI is being integrated into the cybersecurity framework of 43% of government agencies which resultantly improves their ability to identify and counter threats. As an example, the United States Department of Defense has started using artificial intelligence (AI) based security solutions backed by generative AI that can create fictitious cyber-attacks, thereby providing them with enhanced preparedness against advanced types of threats.
This technology also helps these sectors handle and analyze large volumes of data more effectively, giving valuable insights that will enable them prevent or mitigate cyber threats. This trend demonstrates an increasing reliance on generative AI in fortifying cyber security measures so as to ensure that critical infrastructure and sensitive data remain secure in today’s intricate digital landscape.
By region, North America to hold the largest share by market value in 2024.
In 2024, North America will be the leading region based on market share due to its excellent technology infrastructure, substantial investments in AI-enabled cybersecurity and the presence of key players. Major cyber security research universities and tech companies such as Google, AWS, CrowdStrike, SentinelOne and IBM are present in this area, pushing them on the forefront of potent risk management technologies and generative AI tools for threat detection. For example, IBM’s security platform powered by AI has improved detection rates for threats up by 40%, thus proving the relevance of AI technology to enhancing cybersecurity.
Moreover, legislative instruments such as Cybersecurity Information Sharing Act (CISA) are being put in place to promote advanced cybersecurity technologies. As internet attacks continue getting more complicated, North American enterprises prefer generative artificial intelligence (AI), so as to enhance their safety measures pertaining to personal data and digital infrastructure.
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Top Key Companies in Generative AI cybersecurity Market:
The major players in the generative AI cybersecurity market include Palo Alto Networks (US), AWS (US), CrowdStrike (US), SentinelOne (US), and Google (US), along with SMEs and startups such as MOSTLY AI (Austria), XenonStack (UAE), BigID (US), Abnormal Security (US), and Adversa AI (Israel).
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