Artificial Intelligence
GeoJunxion NV (ticker: GOJXN.AS) Formerly called AND International Publishers NV (AND.AS) Publishes its July 2021 Trading Update
Capelle aan den Ijssel, The Netherlands 29 July 2021 – GeoJunxion significantly increases order intake and shows encouraging Q2 and 1H2021 YoY topline growth.
Looking back at the first half of 2021 and more specifically at the second quarter, Covid-19 and its related measures are still proving to be a significant challenge for the global economy. However, the GeoJunxion team and our underlying business continued to show strong resilience and improved performance during Q2: Revenue during the past quarter has grown by 30% compared to the same quarter in 2020. For the first half of 2021, revenue increased by 20% compared to the same period last year. Thanks to an extraordinary Q2 performance, our order intake for the first half of 2021 doubled compared to the same period last year. We are continuously encouraged by the market response regarding our new premium location aware products and intelligence location services, which have resulted in the increased strength of our pipeline. It is also worth noting that Q2 order intake is more diversified than ever across all our product lines and services, as well as between new and recurring multi-year business opportunities.
OPERATIONAL HIGHLIGHTS AND STRATEGY UPDATE
Market Developments
COVID restrictions still influence the willingness to spend, therefore companies remain extremely cautious in their investments. This applies across all market verticals in particular within travel, leisure and events. However, signs of improvement are coming from large IT companies and others, specifically for Smart Cities solutions, Transports and Logistics and the Automotive and Autonomous driving sectors.
Business Development
In the second quarter of this year, we continued to focus on our new High Alert Zones family of products, in particular on Eco Alert Zones and Safety Alert Zones. The strongest traction from the market remains on Eco Alert Zones where we expanded our unique value proposition of fully attributed, global, and authoritative coverage of Low Emission Zones, Congestion areas and Limited Traffic zones, which we have extended to Heavy Vehicles as well. Eco Alert Zones are today the most requested data suite, both by existing customers and prospects. Safety Alert Zones have also started attracting current customers and new prospects, therefore opening up new business opportunities within Transports and Logistics, Automotive and the Insurance market.
Our Outdoor Venue Plan and Intelligence Location Services are also getting traction. We see increased interest from Municipalities for the development of information systems and bespoke data suites related to Smart Cities applications and services. Public and private companies are showing interest in alternative Mobility plans, Real Estate and, to a certain extent, also travel, leisure and tourism, in spite of limited investment capabilities due to Covid restrictions.
Outdoor Venue Plan – use case for the Real Estate and Mobility Management markets
We continue to experience an increased number of visitors to our website, thanks to various lead generation activities and monthly webinars, with growing number of registrants and attendees. Recordings of all webinars are available on our website in the Resources section, at “Events and Webinars”.
Product Development
In the second quarter of the year, we continued to invest in improvements and expansion of our core High Alert Zones product suite: Eco, Safety and Health Alert Zones. We actively worked to improve our Eco Alert Zones including non-passenger vehicles and Heavy Vehicles over 3.5 tons. This new authoritative and dynamic dataset, which will be launched in the coming months, is in perfect alignment with the GeoJunxion’s mission to foster safety and sustainability through location-aware content.
We also released our first mobile app, GeoAlertsLive for iOS and Android, with the primary goal of demonstrating the value of our High Alert Zones, but also to open a new and direct channel into the market and get feedback from B2B customers and B2C users to further improve and customize our Eco, Safety and Health Alert Zones. The app is already available with a freemium business model on Google Play Store and Apple Store.
GeoAlertsLive app – Eco Alerts for Low Emission, Congestion and Limited Traffic Zones
We continued to invest in our API technology to improve and optimize the delivery mechanisms of our highly dynamic, map agnostic value-added products.
In response to the increased demand of hyper local content, we are refining our suite of algorithms and methods for the automatic generation of various types of boundaries and polygons. Based upon this advanced technology we should be in a position to release a new premium product for Built-Up Areas with worldwide coverage.
A built-up area (BUA) is a boundary that encloses a densely urbanized area. These areas are characterized by a higher population density than surrounding areas and give shape to the cities, towns, and larger villages.
Built Up Areas – example of urbanized areas with different characteristics
During the second quarter of the year, we also released a new dataset containing the aggregated information for kindergartens and schools in Germany, designed for specialized vertical markets such as Real Estate, Finance and Investments, GIS, Geo and Direct Marketing. This will also be the base for extending our Safety Alert Zones in other countries and for many other applications and markets.
Partner & Alliances
Our partnership & alliances program received an additional boost over the course of Q2.
Our partnership with ESRI has been re-enforced via the strengthening of the relationship with the US headquarters and local European subsidiaries. Esri is the global market leading solution provider for Geographic Information System (GIS), with over 350,000 customers and more than 45% market share. It is an important alliance for GeoJunxion because of its market leading technology platform and the market reach of its network around the world. This partnership already brought new opportunities to our pipeline and joint offers across new prospect customers.
We are also working together on an upcoming joint event, scheduled for the end of Q3, where as guest speakers, we will be presenting our suite of products and services to a vast audience of ESRI subsidiaries and partners.
Our alliance with NavInfo was also consolidated, in particular within opportunities for Smart Cities, HD Maps and Roads and Signals Maintenance market sectors. NavInfo brings extensive and in depth know how in Computer Vision and Artificial Intelligence which, which when combined with our capabilities on premium location content for road safety and sustainability, creates a unique business opportunity for both companies.
After the recent announcement of the agreement with the Province of North Brabant in the Netherlands, we started our partnership with the aim to improve asset management as well road safety in that area. Such new activity will pave the way for GeoJunxion to offer to the province its Data as a Service (DaaS).
We are also proud to announce that GeoJunxion BV was selected by #MobilityLab to join their 2021 edition focused on creating advanced solutions for sustainable mobility and safety on the road. After the selection process and product pitches we have been identified as one of the 25 companies that will work on this project.
Our focus will be on improving safety around schools, where vulnerable pedestrians are concentrated during certain times of the day. This will be realized with our School Zones, which are and will be an essential part of the Safety Alert Zones product suite.
Mobility Lab is an initiative of two mobility programs: De Verkeersonderneming from the Rotterdam region and SmartwayZ.NL, which focuses on the South of the Netherlands. Both programs are based on partnerships between various governmental institutions focused on improving accessibility in their regions. In addition, Brainport Eindhoven has been a partner to the project since 2018, and this year the province of Limburg also joined as a partner. Mobility Lab was founded in 2017 and is carrying out its fifth edition this year.
Mobility Lab – Stef Van der Helm, Enterprise Sales Manager, during the product pitch on School Zones
Order Intake / Bookings developments
Our 2021 order intake to date has doubled compared to the same period in 2020. Orders for premium location data and location Intelligence Services booked in the past quarters of the year started materializing into revenue and will continue converting into revenue during Q3 and Q4.
We would like to thank our employees, customers, shareholders, and contractors for their ongoing contribution to the turnaround of the company.
FINANCIAL SUMMARY Q2 and H1 2021 RESULTS VERSUS Q2 and H1 2020
- Revenue for Q2 2021 has grown by 30.6% compared to Q2 2020. For the entire first semester 2021 a growth of 20.3% was generated compared to the same period of the previous year.
- Order intake for the entire H1 2021 shows a growth of 107% compared with the same period of the previous year, due to excellent performances realized during the second quarter.
OUTLOOK FOR THE FULL CALENDER YEAR 2021
Covid-19 and its related measures to contain the spread have continued to hamper our business development during the past 6 months. This was particularly the case for our products aimed at the travel, leisure, and events industry, which were severely impacted by government measures and lockdowns. Despite this, we continue to experience strong market interest in our new product portfolio, resulting in solid revenue growth, a strong and healthy pipeline of opportunities. Based on the orders in hand, and the strength of the pipeline of opportunities, we reconfirm our expectation to generate a revenue growth for the calendar year 2021, in the range of 40 to 50% compared to calendar year 2020.
ORGANIZATION
During Q2, Mr. Ivo Vleeschouwers, formerly serving as GeoJunxion’s CFO, has been nominated as permanent CEO, combining the CEO and CFO functions going forward.
At the same time, Mr. Francesco Altamura has also been appointed by the Supervisory Board as GeoJunxion’s new CBO – Chief Business Officer, responsible for the Commercial, Marketing, Strategy and Business Enablement divisions.
Ivo Vleeschouwers, CEO and CFO – Francesco Altamura, CBO
REPLACEMENT OF EXTERNAL AUDITOR
We continue to explore all possible options to replace our previous OOB-licensed auditor, Grant Thornton. Partially to allow time in resolving this issue and move outside of the auditing peak season, GeoJunxion has extended the current accounting year to 30 June 2021. During the past months, we have engaged with all available OOB licensed Auditors in the Netherlands, requesting a quote for the Audit of our accounts per 30 June 2021. Mazars is not available to us as they are still in the cool down period as our 2017 auditor. To date we have received 4 rejections for the same reasons as last year. We are in ongoing conversations with one auditing firm. There is however no guarantee that these efforts will conclude in an agreement.
RISK MANAGEMENT
Risk management is an integral managerial task. Our risk management and control procedures take into consideration the size of the company and the character of the business to identify the most significant risks which the company is exposed to. The risks identified are discussed on a periodical basis and mitigated or fully resolved, where possible. Such a system cannot provide absolute certainty that objectives will be realized. Neither can it guarantee prevention of potential cases of material mistakes, damage, fraud, or breaches of statutory laws.
The 2019 annual report describes the principal strategic, operational, and financial risks. The risks and uncertainties described in the annual report are still relevant and are deemed incorporated and repeated by reference in this report. There were no cases of material damage, fraud or breaches of law detected in 2020 and the first Semester of 2021. However, the Covid-19 outbreak and the associated and prolonged pandemic control measures have had a disruptive effect on the economy and an adverse effect on our business, most noticeably in our data sales business and our last mile mapping service directed to travel, leisure and events business and the associated revenues. Although we have taken mitigating actions and lockdown measures have currently been lifted to a large extend, mainly due to the progress in the vaccination campaigns, there is no guarantee that the pandemic and its associated control measures will not have a further negative impact in 2021 on our business, financial position, and results. Our focus remains on key areas, such as social: our people and stakeholders, commercial: our customers and partners, financial: focus on costs, revenue growth, cash flow generation and liquidity, Product & Technology: further strengthen and expand product & services, as well as investing in specialized technology development to increase efficiency and quality.
On the Social aspect, we are putting particular attention on preventive actions to limit any exposure of our people to Covid-19, encouraging and supporting smart working from home, and establishing clear rules for those that need to be physically present in our offices. Our people are our key assets, and we do whatever we can to keep them safe and healthy.
GROUP STRUCTURE SIMPLIFICATION
The voluntary liquidation of AND Data India Pvt, LTD, continues to progress well: Early June 2021 we completed the repatriation of the remaining 50% of the funds available in the company. Expectation is that the liquidation of the Indian legal entity will be fully completed during August 2021.
FORWARD-LOOKING STATEMENTS / IMPORTANT NOTICE
This document contains certain forward-looking statements with respect to the financial position and results of GeoJunxion. We have based these forward-looking statements on our current expectations and projections about future events, including assumptions regarding our present and future business strategies, operations, and the environment in which we will operate in the future. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, and you should not place undue reliance on them.
Many of these risks and uncertainties relate to factors that are beyond the company’s ability to control or estimate precisely, such as timing of placement of orders of our customers, exchange-rate and interest-rate fluctuations, changes in tax rates, regulatory and legal changes, the rate of technological change, the competitive landscape, political developments in countries in which the company operates and the risk of a downturn in the market.
The forward-looking statements contained herein speak only as of the date they are made. We do not assume any obligation to update any public information or forward-looking statement in this document to reflect events or circumstances after the date of this document, except as may be required by applicable laws.
Ends
Capelle aan den IJssel, 29 July 2021,
Ivo Vleeschouwers – CEO / CFO
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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