Artificial Intelligence
L’Oréal: News release: “2021 Half-Year Results”
Clichy, 29 July 2021 at 6.00 p.m.
2021 Half-Year Results
An exceptional first-half:
+20.7% like-for-like growth
Further increase in profitability
- Sales: 15.19 billion euros
- +20.7% like-for-like1
- +21.8% at constant exchange rates
- +16.2% based on reported figures
- Exceptional growth at +33.5% in the second quarter1
- Market share gains in all Divisions and all geographic Zones
- Strong acceleration in North America: +44.7%1 in the second quarter
- E-commerce continues to post very strong growth at +29.2%2
- Operating margin at 19.7%, an increase of 170 basis points
- Significant increase in EPS3: +21.1% at €4.63
Commenting on these figures, Mr Nicolas Hieronimus, Chief Executive Officer of L’Oréal, said:
“With the health situation still uncertain, the beauty market is gradually recovering and has recorded double-digit growth. As a result of the determination and continued commitment of our teams, that I wish to warmly thank, L’Oréal is significantly outperforming the market, with an exceptional second quarter. By the end of June, the Group posted a very strong increase and returned to its pre–Covid growth rate, up +6.6% like-for-like compared to the first half of 2019, with an acceleration of +8.4% in the second quarter compared to 2019.
L’Oréal recorded market share gains in all Divisions and all geographic Zones. This remarkable performance reflects the relevance and healthy balance of our multi-faceted model in terms of geographic footprint, brands and categories. The Professional Products Division has successfully transformed its business model and achieved record performance. The Consumer Products Division recorded double-digit growth in the second quarter, thanks in particular to the recovery of makeup. L’Oréal Luxe also saw a sharp rise in fragrance sales and significantly outperformed the market. The Active Cosmetics Division achieved record growth, demonstrating that its brand portfolio is perfectly adapted to consumers’ health and beauty aspirations.
Our geographic Zones have now been redefined around more homogeneous consumption areas. All achieved double-digit growth. North Asia continued to perform well, still driven by mainland China where L’Oréal continues to strengthen its undisputed leadership, while North America saw a return to growth with a tremendous acceleration in the second quarter. In Europe, L’Oréal significantly outperformed the market, which is starting to recover gradually; all countries in this Zone are growing, led by the United Kingdom, France and Russia. The Group performed well in SAPMENA-SSA4 and in Latin America, with a marked progression in Brazil.
Our digital excellence has enabled brands to engage, recruit and retain consumers and partners alike. E–commerce continues to grow, at a more moderate rate due to the reopening of retail channels, and accounts for 27.3% of sales. Benefiting from a slight recovery in international travel and the success of Hainan, Travel Retail has bounced back.
The first-half results increased sharply and are of excellent quality. They are evidence of the L’Oréal virtuous circle: a strong improvement in gross margin combined with good cost control has enabled us to invest significantly in developing our brands and deliver once again an increase in profitability.
At the same time, societal and environmental engagement remains a priority. In June, we launched the very first “L’Oréal Groupe” global campaign, to make our consumers, shareholders and all our stakeholders aware of the actions behind our purpose: “Create the beauty that moves the world.” We also unveiled “L’Oréal For Youth”, a global programme designed to boost youth employment by increasing the number of job opportunities for under 30s by 30%.
L’Oréal has again gained strength in the early part of the year and is well positioned to continue to grow at its pre-crisis pace, leveraging on technology, data and Artificial Intelligence to become the Beauty Tech company. In the second half of 2021, we will pursue our offensive product launch strategy while at the same time investing in relevant growth drivers to spur the future growth and the desirability of our brands. We are more confident than ever in our ability to outperform the market and achieve a year of growth in both sales and results.”
2021 Half-Year Sales
Like-for-like, i.e. based on a comparable structure and identical exchange rates, sales of the L’Oréal group grew by +20.7%.
The net impact of changes in the scope of consolidation was +1.1%.
Growth at constant exchange rates came out at +21.8%.
Currency fluctuations had a negative impact of -5.6%. If the exchange rates at 30 June 2021, i.e.
€1 = $1.1871, are extrapolated until 31 December 2021, the impact of currency fluctuations on sales would be approximately -2.3% for the whole of 2021.
Based on reported figures, the Group’s sales at 30 June 2021 amounted to 15.19 billion euros, i.e.
an increase of +16.2%.
Sales by Division and geographic Zone
During the first half of 2021, the Group redefined its geographic Zones. At 30 June 2021, sales by geographic Zone reflect this organisation and break down as follows: Europe, North America, North Asia, SAPMENA – SSA5 and Latin America. The data relating to previous periods have been restated to reflect these changes.
| 2nd quarter 2021 | 1st half 2021 | |||||
| Growth | Growth | |||||
| €m | Like-for-like | Reported | €m | Like-for-like | Reported | |
| By Division | ||||||
| Professional Products | 930.4 | +65.9% | +57.5% | 1,778.7 | +41.0% | +32.6% |
| Consumer Products | 2,990.1 | +14.2% | +11.5% | 5,963.4 | +6.3% | +1.9% |
| L’Oréal Luxe | 2,702.5 | +45.7% | +40.9% | 5,472.2 | +28.1% | +24.9% |
| Active Cosmetics | 959.1 | +48.4% | +44.9% | 1,982.4 | +37.5% | +32.0% |
| Group total | 7,582.1 | +33.5% | +29.6% | 15,196.6 | +20.7% | +16.2% |
| By geographic Zone | ||||||
| Europe | 2,392.1 | +27.8% | +27.6% | 4,857.1 | +11.9% | +11.6% |
| North America | 1,952.1 | +44.7% | +33.7% | 3,765.7 | +23.2% | +13.8% |
| North Asia | 2,296.5 | +26.5% | +23.3% | 4,670.9 | +27.3% | +23.2% |
| SAPMENA – SSA5 | 520.1 | +40.7% | +33.7% | 1,093.9 | +19.9% | +13.3% |
| Latin America | 421.2 | +54.8% | +59.3% | 809.0 | +32.8% | +22.7% |
| Group total | 7,582.1 | +33.5% | +29.6% | 15,196.6 | +20.7% | +16.2% |
Summary by Division
PROFESSIONAL PRODUCTS
The Professional Products Division recorded very strong growth at +41.0% like-for-like and +32.6% reported, again strengthening its leadership in a market which is gradually recovering from the health crisis.
The Division benefits from the three underlying trends in the sector: the digitalisation of salons, the development of freelance stylists, and the explosion of e-commerce. All geographic Zones saw sales growth, with record performance in the United States. The Division also confirmed its success in mainland China with very strong growth in e-commerce and in salons. It continued its growth trend in Europe, driven by Germany and France.
Haircare remains the number one category for growth, led by a particularly dynamic Kérastase, the successful launch of Curl Manifesto and the success of Genesis, as well as good performance from Metal Detox by L’Oréal Professionnel and Acidic Bonding Concentrate by Redken. In hair colour, Shades EQ by Redken recorded strong growth.
CONSUMER PRODUCTS
The Consumer Products Division ended the first half of the year at +6.3% like-for-like and +1.9% based on reported figures, with a rebound of +14.2% in the second quarter.
The Division outperformed the market and grew in all geographic Zones, notably in mainland China, Brazil, Indonesia and the major European countries. E-commerce continued to grow strongly and now accounts for more than 20% of sales.
The Division achieved record market share in makeup, especially in North America and Europe, thanks in particular to the highly successful launches of Sky High Mascara by Maybelline New York, Infallible powder by L’Oréal Paris and Shine Loud lipstick by NYX Professional Makeup. Haircare saw double-digit growth thanks to an extremely buoyant market in mainland China, as well as in Europe and Brazil with the success of major innovations such as Full Resist and 8 Second Wonder Water by L’Oréal Paris. Facial skincare continued to accelerate. Revitalift Filler with hyaluronic acid by L’Oréal Paris has become the world’s biggest-selling serum. Mainland China’s leading skincare brand L’Oréal Paris continued to gain market share with the launch of Ampoule in Cream. Garnier is successfully rolling out a new Vitamin C booster serum.
L’ORÉAL LUXE
With the luxury beauty market strongly bouncing back in the first half of the year, L’Oréal Luxe posted growth at +28.1% like-for-like and +24.9% reported.
In all geographical Zones, the Division significantly outperformed the market, marked by the gradual reopening of selective distribution. L’Oréal Luxe performed very well in North Asia, particularly among Chinese consumers. It also confirmed its solidity in Europe and saw a very strong recovery in North America.
The Division gained market share in all three of its categories. First of all in skincare, thanks to its powerful global brands Lancôme and Kiehl’s, a dynamic premium segment with Helena Rubinstein and the couture lines Yves Saint Laurent and Giorgio Armani, as well as the successful integration of Takami. Secondly, in the fragrances category, which is extremely dynamic in North America and mainland China, thanks to the complementarity of Giorgio Armani, Valentino, Maison Margiela, Ralph Lauren, Yves Saint Laurent and the recently acquired Mugler and Azzaro brands, which delivered very strong performance, significantly outperforming the market. And finally in makeup, the Division showed clear signs of recovery in North Asia —driven by Lancôme, Yves Saint Laurent and Shu Uemura— as well as in the United States thanks to Lancôme and Urban Decay, which again won market share.
ACTIVE COSMETICS
In a significantly improving market, the Active Cosmetics Division recorded particularly strong growth in the first half of the year, at +37.5% like-for-like and +32.0% based on reported figures.
The Division continued to record very strong growth, with its skincare brand portfolio perfectly adapted to consumers’ health-related aspirations, which increased further during the pandemic. It also continued to leverage the solid relationships developed with healthcare professionals and its digital and e-commerce expertise.
All major brands recorded strong growth. CeraVe doubled in size while La Roche-Posay continued to accelerate, supported by the excellent performance of Effaclar and Cicaplast. SkinCeuticals continued to grow rapidly, driven by the innovation Silymarin CF. Vichy recovered and posted double-digit growth.
The Division saw very strong growth in all geographical Zones, outperforming the market with exceptional performance in the United States, mainland China and the United Kingdom. Thanks to a targeted omnichannel activation strategy, e-commerce sales remained extremely buoyant while in-store sales posted strong double-digit growth.
Summary by geographic Zone
During the first half of 2021, the Group redefined its geographic Zones. At 30 June 2021, sales by geographic Zone reflect this organisation and break down as follows: Europe, North America, North Asia, SAPMENA – SSA6 and Latin America.
EUROPE
The new Europe Zone, which brings together Western Europe and Eastern Europe, is the largest of the Group in terms of sales. It grew by +11.9% like-for-like and +11.6% based on reported figures.
At the end of June, all countries reported growth and L’Oréal strengthened its leadership in Germany, the United Kingdom, Russia and the Scandinavian countries.
In the second quarter, sales are close to pre-crisis levels, with the exception of Travel Retail, which is still badly affected by the health situation and the restrictions on international travel. E-commerce saw very strong growth.
The Consumer Products Division gained market share, especially in makeup and haircare; Maybelline New York strengthened its leadership in the makeup category. L’Oréal Luxe continued to gain market share, especially in fragrances. The Active Cosmetics Division considerably increased its market share, driven by the dynamism of La Roche-Posay, which confirmed its position as Europe’s No.1 dermocosmetics brand, and the rapid development of CeraVe. Finally, the Professional Products Division recorded significant growth despite the closure of salons in several countries in the first quarter, thanks to the buoyancy of e-commerce sales.
NORTH AMERICA
The Zone posted strong growth, at +23.2% like-for-like and +13.8% based on reported figures.
In the United States, the Group accelerated strongly in the second quarter despite temporary sourcing pressures, with a marked recovery in makeup while sales of skincare and fragrances are far above 2019 levels. In-store sales picked up and e-commerce more than doubled in two years.
All Divisions achieved market share gains in the second quarter. The Consumer Products Division accelerated, driven by the launch of Sky High Mascara by Maybelline New York and the confirmed recovery of NYX Professional Makeup. L’Oréal Luxe benefited from the recovery of in-store sales and the explosion of the fragrances category. Driven by the power of the SalonCentric distribution channel, the Professional Products Division recorded excellent performance and gained market share in haircare and hair colour. Finally, sales for the Active Cosmetics Division, driven by the remarkable performance of CeraVe and the acceleration of La Roche-Posay, close to doubled compared with the first half of 2019.
NORTH ASIA
The Zone saw strong growth at +27.3% like-for-like and +23.2% reported.
Chinese consumer demand for the big brands remained high, particularly for luxury beauty. The Group consolidated its leadership in mainland China, still a major contributor to L’Oréal’s overall performance, with an increase of +34.2%. Confirming the recovery which began in the second quarter of 2020, L’Oréal China gained market share in all Divisions and all categories. Online sales continued to grow strongly, driven by the arrival of new online retailers. During the important online shopping festival on 18 June, L’Oréal Paris established itself as the leading beauty brand on Tmall and JD, with Lancôme also in the top 3.
Japan and South Korea were both affected by the resurgence of Covid-19 and posted moderate performance in the first half of the year. Travel Retail continued to grow in the second quarter, particularly in Hainan.
E-commerce recorded strong growth in the Zone and in-store sales recovered at different rates from one country to another.
L’Oréal Luxe accelerated strongly in online sales and gained market share. Its growth was driven by skincare, with Absolue by Lancôme and Helena Rubinstein in particular, and by the strong recovery of makeup. The Consumer Products Division gained market share in haircare while the Active Cosmetics Division saw its growth accelerate, driven by La Roche-Posay. The Professional Products Division posted record growth, thanks in particular to Kérastase and L’Oréal Professionnel.
SAPMENA – SSA7
The Zone grew by +19.9% like-for-like and +13.3% based on reported figures. The Pacific and Gulf states started to recover while in India the Covid-19 pandemic continued to affect sales in the second quarter. In South-East Asia, many countries including Malaysia, Thailand, the Philippines and Indonesia have been subject to heavy public health restrictions. Vietnam has maintained strong growth.
The growth of the SAPMENA Zone was driven by the Consumer Products Division, with good momentum from Garnier and Maybelline New York, by L’Oréal Luxe in fragrances and skincare, as well as by the Active Cosmetics Division with La Roche-Posay. The expansion of e-commerce, which is seeing marked growth in Southern Asia and India, fuelled growth in all Divisions.
In Sub-Saharan Africa (SSA), growth was driven by South Africa, which posted strong double-digit growth.
LATIN AMERICA
The Zone recorded strong growth of +32.8% like-for-like and +22.7% based on reported figures. The recovery of the beauty market has accelerated in recent months with the gradual easing of lockdown measures and the lifting of restrictions on movement in all countries. Despite a complicated public health situation, Brazil was a strong contributor to growth and significantly outperformed the market, driven by the Consumer Products and Active Cosmetics Divisions.
With Brazil, Mexico and Chile leading the way, all countries and all Divisions recorded double-digit growth. All categories saw strong growth thanks to the quality of innovations and the success of the Group’s iconic brands and products, particularly in haircare and skincare. With the reopening of distribution channels, particularly department stores and hair salons, in-store sales saw a return to growth, while e-commerce sales almost doubled compared to the first half of 2020.
Important events during the period 1/4/21 to 30/6/21 and post-closing events
- On 20 April, L’Oréal held its Annual General Meeting behind closed doors. All resolutions were approved, including:
- Payment of a dividend of €4 per share;
- Appointments as directors of Mr Nicolas Hieronimus and Mr Alexandre Ricard, as well as renewal of the tenures as directors of Ms Françoise Bettencourt Meyers, Mr Paul Bulcke and Ms Virginie Morgon;
- Dissociation of the functions of Chairman of the Board of Directors and Chief Executive Officer. Mr Jean-Paul Agon will continue to fulfil the role of Chairman as he has done since 2011 and Mr Nicolas Hieronimus was appointed Chief Executive Officer as of 1 May 2021.
- On 20 April, the L’Oréal Board of Directors decided, on the basis of the authorisation approved by the Annual General Meeting of 20 April 2021, to buy back L’Oréal shares for a maximum amount of
1.2 billion euros and a maximum of 3 million shares, in a period starting 3 May 2021 and ending
30 June 2021, in a view to cancelling them. 3,000,000 shares were bought back from 3 May to
18 June 2021. - On 22 April, L’Oréal announced the appointment of Asmita Dubey as Chief Digital Officer, a member of the Executive Committee, to drive the second phase of the Group’s digital transformation.
- On 23 June, L’Oréal announced the creation of the Europe Zone, led by Vianney Derville, previously President of the Western Europe Zone.
- On 29 July, the Board of Directors has decided to cancel 3,000,000 shares bought back, effective on 30 July 2021, pursuant the share buyback programme decided on 20 April 2021.
2021 Half-Year Results
The limited review procedures of the half-year consolidated accounts have been completed. The limited review report is being prepared by the Statutory Auditors.
Operating profitability at 19.7% of sales
Consolidated profit and loss account: from sales to operating profit.
| In € million | 30/6/20 | As % of sales | 31/12/20 | As % of sales | 30/6/21 | As % of sales | Change
H1-2021 vs. H1-2020 |
| Sales | 13,076.5 | 100.0% | 27,992.1 | 100.0% | 15,196.6 | 100.0% | +16.2% |
| Cost of sales | -3,512.3 | 26.9% | -7,532.3 | 26.9% | –3,869.5 | 25.5% | |
| Gross profit | 9,564.2 | 73.1% | 20,459.8 | 73.1% | 11,327.1 | 74.5% | +18.4% |
| R&I expenses | -455.3 | 3.5% | -964.4 | 3.4% | –489.1 | 3.2% | |
| Advertising and promotion expenses | -3,986.5 | 30.5% | -8,647.9 | 30.9% | –4,951.6 | 32.6% | |
| Selling, general and administrative expenses | -2,765.2 | 21.1% | -5,638.5 | 20.1% | –2,898.2 | 19.1% | |
| Operating profit | 2,357.2 | 18.0% | 5,209.0 | 18.6% | 2,988.1 | 19.7% | +26.8% |
Gross profit, at 11,327 million euros, came out at 74.5% of sales, an increase of 140 basis points compared to the first half of 2020.
Research and Innovation expenses, at 489 million euros, came out at 3.2% of sales.
Advertising and promotion expenses came out at 32.6% of sales, an increase of 210 basis points.
Selling, general and administrative expenses, at 19.1% of sales, decreased by 200 basis points compared to the first half of 2020.
Overall, operating profit came out at 2,988 million euros, an increase of 170 basis points compared to the 2020 first half, at 19.7% of sales.
Operating profit by Division
| 30/6/20 | 31/12/20 | 30/6/21 | ||||
| €m | % of sales | €m | % of sales | €m | % of sales | |
| By Division | ||||||
| Professional Products | 140.0 | 10.4% | 581.7 | 18.8% | 363.9 | 20.5% |
| Consumer Products | 1,243.7 | 21.3% | 2,388.1 | 20.4% | 1,193.4 | 20.0% |
| L’Oréal Luxe | 892.0 | 20.4% | 2,275.9 | 22.4% | 1,301.9 | 23.8% |
| Active Cosmetics | 433.8 | 28.9% | 766.0 | 25.4% | 570.0 | 28.8% |
| Total Divisions
before non-allocated |
2,709.5 | 20.7% | 6,011.6 | 21.5% | 3,429.1 | 22.6% |
| Non-allocated8 | –352.3 | -2.7% | -802.6 | -2.9% | -441.0 | -2.9% |
| Group | 2,357.2 | 18.0% | 5,209.0 | 18.6% | 2,988.1 | 19.7% |
The L’Oréal group is managed on an annual basis. This means that half-year operating profits cannot be extrapolated for the whole year.
The profitability of the Professional Products Division went from 10.4% to 20.5%.
The profitability of the Consumer Products Division increased at 20.0% compared to the first half of 2020 at 21.3% of sales.
L’Oréal Luxe improved by 340 basis points at 23.8%.
The profitability of the Active Cosmetics Division slightly decreased by 10 basis points, still at a very high level at 28.8%.
Net profit excluding non-recurring items
Consolidated profit and loss account: from operating profit to net profit excluding non-recurring items.
| In € million | 30/6/20 | 31/12/20 | 30/6/21 | Change
H1-2021 vs. H1-2020 |
| Operating profit | 2,357.2 | 5,209.0 | 2 988.1 | +26.8% |
| Financial revenues and expenses | -36.5 | -95.9 | -29.4 | |
| Sanofi dividends | 372.4 | 372.4 | 378.3 | |
| Profit before tax and associates excluding non-recurring items |
2,693.0 | 5,485.5 | 3,337.0 | |
| Income tax excluding non-recurring items | -547.9 | -1,383.1 | -731.9 | |
| Net profit excluding non-recurring items of equity consolidated companies |
+0.7 | +0.9 | +0.3 | |
| Non-controlling interests | -1.1 | -4.2 | -5.4 | |
| Net profit excluding non-recurring items, after non-controlling interests9 |
2,144.8 | 4,099.0 | 2,600.0 | +21.2% |
| EPS10(€) | 3.82 | 7.30 | 4.63 | +21.1% |
| Diluted average number of shares | 561,233,745 | 561,635,963 | 561,833,554 |
Overall financial expenses came out at 29.4 million euros.
Sanofi dividends amounted to 378.3 million euros.
Income tax excluding non-recurring items came out at 731.9 million euros, i.e. a tax rate of 21.9%, higher than the first half of 2020.
Net profit excluding non-recurring items after non-controlling interests came out at 2,600 million euros.
Earnings per share, at 4.63 euros, increased by +21.1% compared with the first half of 2020.
Net profit
Consolidated profit and loss account: from net profit excluding non-recurring items to net profit.
| In € million | 30/6/20 | 31/12/20 | 30/6/21 |
| Net profit excluding non-recurring items, after non-controlling interests 9 |
2,144.8 | 4,099.0 | 2,600.0 |
| Non-recurring items | -322.3 | -535.7 | -237.4 |
| of which: | |||
|
-407.1 | -709.0 | –315.3 |
|
+84.8 | +173.3 | +77.9 |
| Net profit after non-controlling interests | 1,822.5 | 3,563.4 | 2,362.6 |
Non-recurring items amounted to 237.4 million euros net of tax of which 315.3 million euros of other income and expenses. They mainly include an impairment charge on the goodwill of It Cosmetics for 250 million euros.
Operating cash flow and balance sheet
Gross cash flow amounted to 3,336.1 million euros an increase of 25.0%.
The change in working capital amounted to 675.1 million euros.
Investments at 523.1 million euros represented 3.4% of sales.
Operating cash flow11 amounted to 2,137.9 million euros, an increase of 67.7%.
At 30 June 2021, after taking into account finance lease liabilities for 1,579 million euros, net cash amounted to 2,372.8 million euros.
“This news release does not constitute an offer to sell, or a solicitation of an offer to buy L’Oréal shares. If you wish to obtain more comprehensive information about L’Oréal, please refer to the public documents registered in France with the Autorité des Marchés Financiers, also available in English on our Internet site www.loreal-finance.com.
This news release may contain some forward-looking statements. Although the Company considers that these statements are based on reasonable hypotheses at the date of publication of this release, they are by their nature subject to risks and uncertainties which could cause actual results to differ materially from those indicated or projected in these statements.”
This is a free translation into English of the 2021 Half-Year Results news release issued in the French language and is provided solely for the convenience of English-speaking readers. In case of discrepancy, the French version prevails.
Contacts at L’ORÉAL (Switchboard: +33 1 47 56 70 00)
Individual shareholders Financial analysts and
and market authorities Institutional investors Journalists
Mr Christian MUNICH Ms Françoise LAUVIN Ms Polina HUARD
Tel: +33 1 47 56 72 06 Tel: +33 1 47 56 86 82 Tel: +33 1 47 56 87 88
[email protected] [email protected] [email protected]
For more information, please contact your bank, broker or financial institution (I.S.I.N. code: FR0000120321), and consult your usual newspapers, the Internet site for shareholders and investors www.loreal-finance.com or the L’Oréal Finance app, alternatively, call +33 1 40 14 80 50.
Appendices
Appendix 1: L’Oréal group sales 2020/2021 (€ million)
| 2020 | 2021 | |
| First quarter | 7,225.2 | 7,614.5 |
| Second quarter | 5,851.3 | 7,582.1 |
| First half total | 13,076.5 | 15,196.6 |
| Third quarter | 7,036.8 | |
| Nine months total | 20,113.3 | |
| Fourth quarter | 7,878.8 | |
| Full year total | 27,992.1 |
Appendix 2: Compared consolidated income statements
| € millions | 1st half 2021 | 1st half 2020 | 2020 |
| Net sales | 15,196.6 | 13,076.5 | 27,992.1 |
| Cost of sales | -3,869.5 | -3,512.3 | -7,532.3 |
| Gross profit | 11,327.1 | 9,564.2 | 20,459.8 |
| Research & innovation expenses | -489.1 | -455.3 | -964.4 |
| Advertising and promotion expenses | -4,951.6 | -3,986.5 | -8,647.9 |
| Selling, general and administrative expenses | -2,898.2 | -2,765.2 | -5,638.5 |
| Operating profit | 2,988.1 | 2,357.2 | 5,209.0 |
| Other income and expenses | -315.3 | -407.1 | -709.0 |
| Operational profit | 2,672.8 | 1,950.1 | 4,500.0 |
| Finance costs on gross debt | -22.5 | -33.3 | -79.2 |
| Finance income on cash and cash equivalents | 12.4 | 10.6 | 19.8 |
| Finance costs, net | -10.1 | -22.7 | -59.4 |
| Other financial income and expenses | -19.2 | -13.8 | -36.5 |
| Sanofi dividends | 378.3 | 372.4 | 372.4 |
| Profit before tax and associates | 3,021.7 | 2,286.0 | 4,776.5 |
| Income tax | -654.0 | -463.1 | -1,209.8 |
| Share of profit in associates | 0.3 | 0.7 | 0.9 |
| Net profit | 2,368.0 | 1,823.6 | 3,567.6 |
| Attributable to: | |||
|
2,362.6 | 1,822.5 | 3,563.4 |
|
5.4 | 1.1 | 4.2 |
| Earnings per share attributable to owners of the company (euros) | 4.22 | 3.26 | 6.37 |
| Diluted earnings per share attributable to owners of the company (euros) | 4.21 | 3.25 | 6.34 |
| Earnings per share attributable to owners of the company, excluding non-recurring items (euros) |
4.65 | 3.84 | 7.33 |
| Diluted earnings per share attributable to owners of the company, excluding non-recurring items (euros) |
4.63 | 3.82 | 7.30 |
Appendix 3: Consolidated statement of comprehensive income
| € millions | 1st half 2021 | 1st half 2020 | 2020 |
| Consolidated net profit for the period | 2,368.0 | 1,823.6 | 3,567.6 |
| Cash flow hedges | -155.6 | 106.6 | 129.1 |
| Cumulative translation adjustments | 281.5 | -271.8 | -790.2 |
| Income tax on items that may be reclassified to profit or loss (1) | 31.8 | -27.9 | -23.3 |
| Items that may be reclassified to profit or loss | 157.7 | -193.1 | -684.4 |
| Financial assets at fair value through other comprehensive income | 1,151.6 | 129.1 | -1,269.1 |
| Actuarial gains and losses | 386.2 | -159.2 | -225.6 |
| Income tax on items that may not be reclassified to profit or loss (1) | -130.1 | 36.5 | 97.8 |
| Items that may not be reclassified to profit or loss | 1,407.6 | 6.4 | -1,396.9 |
| Other comprehensive income | 1,565.3 | -186.7 | -2,081.3 |
| Consolidated comprehensive income | 3,933.3 | 1,636.9 | 1,486.3 |
| Attributable to: | |||
|
3,927.9 | 1,635.8 | 1,482.1 |
|
5.4 | 1.1 | 4.2 |
(1) The tax effect is as follows:
| € millions | 1st half 2021 | 1st half 2020 | 2020 |
| Cash flow hedges | 31.8 | -27.9 | -23.3 |
| Items that may be reclassified to profit or loss | 31.8 | -27.9 | -23.3 |
| Financial assets at fair value through other comprehensive income | -36.9 | -3.4 | 40.4 |
| Actuarial gains and losses | -93.3 | 39.9 | 57.4 |
| Items that may not be reclassified to profit or loss | -130.1 | 36.5 | 97.8 |
| TOTAL | -98.3 | 8.6 | 74.5 |
Appendix 4: compared consolidated balance sheets
▌ ASSETS
| € millions | 30.06.2021 | 30.06.2020 | 31.12.2020 |
| Non-current assets | 30,192.7 | 30,806.3 | 29,046.8 |
| Goodwill | 10,559.0 | 10,856.5 | 10,514.2 |
| Other intangible assets | 3,455.0 | 3,066.7 | 3,356.3 |
| Right-of-use assets | 1,414.3 | 1,723.7 | 1,525.3 |
| Property, plant and equipment | 3,182.9 | 3,418.0 | 3,225.2 |
| Non-current financial assets | 10,786.5 | 10,932.2 | 9,604.8 |
| Investments accounted for the equity method | 10.5 | 11.4 | 11.1 |
| Deferred tax assets | 784.5 | 797.8 | 809.9 |
| Current assets | 13,762.9 | 15,045.7 | 14,560.1 |
| Inventories | 2,948.2 | 2,947.6 | 2,675.8 |
| Trade accounts receivable | 3,991.8 | 3,756.1 | 3,511.3 |
| Other current assets | 1,869.4 | 1,698.1 | 1,732.7 |
| Current tax assets | 129.3 | 202.3 | 234.4 |
| Cash and cash equivalents | 4,824.3 | 6,441.6 | 6,405.9 |
| TOTAL | 43,955.6 | 45,852.0 | 43,606.9 |
▌ EQUITY & LIABILITIES
| € millions | 30.06.2021 | 30.06.2020 | 31.12.2020 |
| Equity | 29,636.8 | 28,987.0 | 28,998.8 |
| Share capital | 112.1 | 111.9 | 112.0 |
| Additional paid-in capital | 3,265.6 | 3,158.2 | 3,259.8 |
| Other reserves | 18,909.3 | 18,581.3 | 18,642.5 |
| Other comprehensive income | 5,588.5 | 5,680.9 | 4,304.5 |
| Cumulative translation adjustments | -607.9 | -371.0 | -889.2 |
| Treasury shares | — | — | — |
| Net profit attributable to owners of the company | 2,362.6 | 1,822.5 | 3,563.4 |
| Equity attributable to owners of the company | 29,630.2 | 28,983.8 | 28,993.0 |
| Non-controlling interests | 6.6 | 3.2 | 5.8 |
| Non-current liabilities | 2,987.6 | 3,414.2 | 3,478.0 |
| Provisions for employee retirement obligations and related benefits | 650.0 | 941.4 | 1,013.5 |
| Provisions for liabilities and charges | 57.9 | 56.7 | 56.8 |
| Non-current tax liabilities | 364.2 | 251.9 | 397.9 |
| Deferred tax liabilities | 710.0 | 693.8 | 706.6 |
| Non-current borrowings and debt | 8.9 | 9.6 | 8.5 |
| Non-current lease debt | 1,196.5 | 1,460.7 | 1,294.7 |
| Current liabilities | 11,331.3 | 13,450.8 | 11,130.1 |
| Trade accounts payable | 5,386.3 | 4,124.6 | 4,764.5 |
| Provisions for liabilities and charges | 1,211.1 | 1,029.6 | 1,224.7 |
| Other current liabilities | 3,263.5 | 5,160.1 | 3,682.5 |
| Income tax | 224.3 | 326.9 | 215.1 |
| Current borrowings and debt | 863.6 | 2,411.5 | 856.4 |
| Current lease debt | 382.5 | 398.1 | 386.9 |
| TOTAL | 43,955.6 | 45,852.0 | 43,606.9 |
Appendix 5: consolidated statements of change in equity
| € millions | Common shares outstanding | Share capital | Additional paid-in capital | Retained earnings and net profit | Other comprehensive income | Treasury shares | Cumulative translation adjustments | Equity attributable to owners of the company | Non-controlling interests | Equity | ||||||||||
| AT 31.12.2019 | 558,117,205 | 111.6 | 3,130.2 | 20,681.0 | 5,595.8 | — | -99.2 | 29,419.3 | 6.7 | 29,426.0 | ||||||||||
| Consolidated net profit for the period | 3,563.4 | 3,563.4 | 4.2 | 3,567.6 | ||||||||||||||||
| Cash flow hedges | 105.6 | 105.6 | 0.2 | 105.8 | ||||||||||||||||
| Cumulative translation adjustments | -801.8 | -801.8 | -0.3 | -802.1 | ||||||||||||||||
| Hyperinflation | 11.9 | 11.9 | — | 11.9 | ||||||||||||||||
| Other comprehensive income that may be reclassified to profit and loss |
105.6 | -789.9 | -684.3 | -0.1 | -684.4 | |||||||||||||||
| Financial assets at fair value through other comprehensive income |
-1,228.8 | -1,228.8 | -1,228.8 | |||||||||||||||||
| Actuarial gains and losses | -168.1 | -168.1 | -168.1 | |||||||||||||||||
| Other comprehensive income that may not be reclassified to profit and loss |
-1,396.9 | — | -1,396.9 | — | -1,396.9 | |||||||||||||||
| Consolidated comprehensive income | 3,563.4 | -1,291.3 | -789.9 | 1,482.1 | 4.2 | 1,486.3 | ||||||||||||||
| Capital increase | 1,754,375 | 0.4 | 129.6 | -0.2 | — | — | 129.8 | — | 129.8 | |||||||||||
| Cancellation of Treasury shares | — | — | — | — | — | — | — | — | ||||||||||||
| Dividends paid (not paid on Treasury shares) | -2,172.6 | — | — | — | -2,172.6 | -4.9 | -2,177.5 | |||||||||||||
| Share-based payment | 129.7 | — | — | — | 129.7 | — | 129.7 | |||||||||||||
| Net changes in Treasury shares | — | — | — | — | — | — | — | — | ||||||||||||
| Changes in scope of consolidation | — | — | — | — | — | — | — | |||||||||||||
| Other movements | 4.8 | — | — | — | 4.8 | -0.1 | 4.7 | |||||||||||||
| At 31.12.2020 | 559,871,580 | 112.0 | 3,259.8 | 22,206.0 | 4,304.5 | — | -889.1 | 28,993.0 | 5.8 | 28,998.8 | ||||||||||
| Consolidated net profit for the period | 2,362.6 | 2,362.6 | 5.4 | 2,368.0 | ||||||||||||||||
| Cash flow hedges | -123.6 | -123.6 | -0.2 | -123.8 | ||||||||||||||||
| Cumulative translation adjustments | 266.8 | 266.8 | 0.2 | 267.0 | ||||||||||||||||
| Hyperinflation | 14.5 | 14.5 | 14.5 | |||||||||||||||||
| Other comprehensive income that may be reclassified to profit and loss |
-123.6 | 281.3 | 157.7 | — | 157.7 | |||||||||||||||
| Financial assets at fair value through other comprehensive income |
1,114.7 | 1,114.7 | 1,114.7 | |||||||||||||||||
| Actuarial gains and losses | 292.9 | 292.9 | 292.9 | |||||||||||||||||
| Other comprehensive income that may not be reclassified to profit and loss |
1,407.6 | — | 1,407.6 | — | 1,407.6 | |||||||||||||||
| Consolidated comprehensive income | 2,362.6 | 1,284.0 | — | 281.3 | 3,927.9 | 5.4 | 3,933.3 | |||||||||||||
| Capital increase | 800,168 | 0.2 | 5.8 | -0.2 | 5.8 | 5.8 | ||||||||||||||
| Cancellation of Treasury shares | — | — | ||||||||||||||||||
| Dividends paid (not paid on Treasury shares) | -2,264.4 | -2,264.4 | -4.7 | -2,269.1 | ||||||||||||||||
| Share-based payment | 75.9 | 75.9 | 75.9 | |||||||||||||||||
| Net changes in Treasury shares | -3,000,000 | -1,104.8 | -1,104.8 | -1,104.8 | ||||||||||||||||
| Changes in scope of consolidation | — | — | ||||||||||||||||||
| Other movements | -3.2 | -3.2 | 0.1 | -3.1 | ||||||||||||||||
| AT 30.06.2021 | 557,671,748 | 112.1 | 3,265.6 | 22,376.7 | 5,588.5 | -1,104.8 | -607.9 | 29,630.2 | 6.6 | 29,636.8 | ||||||||||
▌ CHANGES IN FIRST-HALF 2020
| € millions | Common shares
outstanding |
Share capital | Additional paid-in capital | Retained earnings and net profit |
Other
comprehensive income |
Treasury shares | Cumulative translation adjustments | Equity
attributable to owners of the company |
Non-
controlling interests |
Equity | ||||||||||
| At 31.12.2019 | 558,117,205 | 111.6 | 3,130.2 | 20,680.9 | 5,595.8 | — | -99.2 | 29,419.3 | 6.7 | 29,426.0 | ||||||||||
| Consolidated net profit for the period | 1,822.5 | 1,822.5 | 1.1 | 1,823.6 | ||||||||||||||||
| Cash flow hedges | 78.7 | 78.7 | 78.7 | |||||||||||||||||
| Cumulative translation adjustments | -276.8 | -276.8 | -276.8 | |||||||||||||||||
| Hyperinflation | 5.0 | 5.0 | 5.0 | |||||||||||||||||
| Other comprehensive income that may be reclassified to profit and loss |
78.7 | -271.8 | -193.1 | — | -193.1 | |||||||||||||||
| Financial assets at fair value through other comprehensive income |
125.7 | 125.7 | 125.7 | |||||||||||||||||
| Actuarial gains and losses | -119.3 | -119.3 | -119.3 | |||||||||||||||||
| Other comprehensive income that may not be reclassified to profit and loss |
6.4 | — | 6.4 | — | 6.4 | |||||||||||||||
| Consolidated comprehensive income | 1,822.5 | 85.1 | -271.8 | 1,635.8 | 1.1 | 1,636.9 | ||||||||||||||
| Capital increase | 1,180,975 | 0.2 | 28.0 | -0.2 | 28.1 | 28.1 | ||||||||||||||
| Cancellation of Treasury shares | — | — | ||||||||||||||||||
| Dividends paid (not paid on Treasury shares) | -2,166.5 | -2,166.5 | -4.9 | -2,171.3 | ||||||||||||||||
| Share-based payment | 67.3 | 67.3 | 67.3 | |||||||||||||||||
| Net changes in Treasury shares | — | — | ||||||||||||||||||
| Changes in scope of consolidation | — | 0.3 | 0.3 | |||||||||||||||||
| Other movements | -0.3 | -0.3 | -0.3 | |||||||||||||||||
| AT 30.06.2020 | 559,298,180 | 111.9 | 3,158.2 | 20,403.8 | 5,680.9 | — | -371.0 | 28,983.8 | 3.2 | 28,987.0 | ||||||||||
(1) As the Annual General Meeting to approve the financial statements as at 31 December 2019 was held on 30 June 2020, the dividends for financial year 2019 were not paid at 30 June 2020 and were presented on the balance sheet in “Other current liabilities”.
(2)
Appendix 6: compared consolidated statements of cash flows
| € millions | 1st half 2021 | 1st half 2020 | 2020 |
| Cash flows from operating activities | |||
| Net profit attributable to owners of the company | 2,362.6 | 1,822.5 | 3,563.4 |
| Non-controlling interests | 5.4 | 1.1 | 4.2 |
| Elimination of expenses and income with no impact on cash flows: | |||
| • depreciation, amortisation, provisions and non-current tax liabilities | 910.3 | 787.4 | 2,028.1 |
| • changes in deferred taxes | -28.3 | -16.3 | -10.1 |
| • share-based payment (including free shares) | 75.9 | 67.3 | 129.7 |
| • capital gains and losses on disposals of assets | 1.4 | 4.5 | 3.6 |
| Other non-cash transactions | 8.1 | 2.9 | 5.8 |
| Share of profit in associates net of dividends received | 0.6 | -0.7 | -0.6 |
| Gross cash flow | 3,336.1 | 2,668.6 | 5,724.1 |
| Changes in working capital | -675.1 | -889.2 | 729.2 |
| Net cash provided by operating activities (A) | 2,661.0 | 1,779.4 | 6,453.3 |
| Cash flows from investing activities | |||
| Purchases of property, plant and equipment and intangible assets | -523.1 | -504.8 | -972.4 |
| Disposals of property, plant and equipment and intangible assets | 12.5 | 18.6 | 26.6 |
| Changes in other financial assets (including investments in non-consolidated companies) | -23.9 | 6.6 | -66.5 |
| Effect of changes in the scope of consolidation | -161.3 | -1,316.5 | -1,626.8 |
| Net cash from investing activities (B) | -695.8 | -1,796.0 | -2,639.1 |
| Cash flows from financing activities | |||
| Dividends paid | -2,322.0 | -82.6 | -2,190.6 |
| Capital increase of the parent company | 5.8 | 28.1 | 129.7 |
| Capital increase of subsidiaries | — | — | — |
| Disposal (acquisition) of Treasury shares | -1,104.8 | — | — |
| Purchase of non-controlling interests | — | — | — |
| Issuance (repayment) of short-term loans | 26.5 | 1,509.3 | -74.8 |
| Issuance of long-term borrowings | — | — | — |
| Repayment of long-term borrowings | — | — | -3.6 |
| Repayment of lease debt | -200.9 | -219.7 | -451.8 |
| Net cash from financing activities (C) | -3,595.3 | 1,235.1 | -2,591.1 |
| Net effect of changes in exchange rates and fair value (D) | 48.5 | -62.8 | -103.2 |
| Change in cash and cash equivalents (A+B+C+D) | -1,581.6 | 1,155.7 | 1,119.9 |
| Cash and cash equivalents at beginning of the period (E) | 6,405.9 | 5,286.0 | 5,286.0 |
| CASH AND CASH EQUIVALENTS AT THE END OF THE PERIOD (A+B+C+D+E) | 4,824.3 | 6,441.7 | 6,405.9 |
1 Like-for-like: based on comparable structures and identical exchange rates.
2 Sales achieved on our brands’ own websites + estimated sales achieved by our brands corresponding to sales through our retailers’ websites (non-audited data).
3 Diluted earnings per share, excluding non-recurring items, after non-controlling interests.
4 SAPMENA-SSA: South Asia Pacific, Middle East, North Africa and Sub-Saharan Africa
5 SAPMENA – SSA: South Asia Pacific, Middle East, North Africa and Sub-Saharan Africa
6 SAPMENA – SSA: South Asia Pacific, Middle East, North Africa and Sub-Saharan Africa
7 SAPMENA – SSA: South Asia Pacific, Middle East, North Africa and Sub-Saharan Africa
8 Non-allocated expenses = Central Group expenses, fundamental research expenses, stock options and free grant of shares expenses and miscellaneous items. As a % of total sales.
9 Net profit excluding non-recurring items, after non-controlling interests, excludes mostly capital gains and losses on disposals of long-term assets, impairment of assets, restructuring costs, tax effects and non-controlling interests.
10 Diluted net profit per share, excluding non-recurring items, after non-controlling interests.
11 Operating cash flow = Gross cash flow + changes in working capital – capital expenditure.
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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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DISCOVER MORE INSIGHTS: EXPLORE SIMILAR REPORTS!
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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.
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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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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
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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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