Artificial Intelligence
Yield10 Bioscience Announces Second Quarter 2021 Financial Results
Management will Host a Conference Call Today at 4:30 p.m. (ET) to Review
Financial Results and Provide a Corporate Update
WOBURN, Mass., Aug. 11, 2021 (GLOBE NEWSWIRE) — Yield10 Bioscience, Inc. (Nasdaq:YTEN), an agricultural bioscience company, today reported financial results for the three and six months ended June 30, 2021.
“We are focused on executing against our core business strategy of utilizing Camelina as a platform crop to produce food, fuel, and PHA bioplastic,” said Oliver Peoples, Ph.D., President and Chief Executive Officer of Yield10. “Our important early commercialization activities continue, highlighted by our recent new hires to support the regulatory, supply chain and commercial paths for our traits, as well as by contracting with third parties to scale up and crush seed to produce samples of Camelina oil for business development efforts. We are field testing Camelina in Argentina, for the first time, with the goal of forming strategic partnerships to enable our market entry strategy for commercializing omega-3 oils in the farmed salmon feed market.
“Our team is making excellent progress across our R&D priorities for 2021. We remain on track scaling up certain Camelina lines to enable planting at larger scale as we are also field testing Camelina elite germplasm, as well as lines designed to produce increased seed yield, oil content, and PHA in a field program spanning more than 12 sites across the U.S., Canada and Argentina. We are also supporting the Rothamsted team as they field test and scale up omega-3 (DHA+EPA) Camelina lines. We believe our innovations will enable the delivery of sustainable product options well matched to market demands.
“Our GRAIN platform addresses the main challenge in agricultural biotechnology that being the consistent identification of novel targets that produce meaningful improvements in crop performance. Our team has discovered four new oil content targets, including C3020, and three additional traits accessible by CRISPR, a timely development given the increasing demand for vegetable oil for the food and fuel markets.
“In the second half of 2021, we look forward to continuing to advance our business plans for Camelina, reporting proof points from our R&D activities, and achieving key milestones supporting the growth of our business,” said Dr. Peoples.
Recent Accomplishments
- Executing on 2021 Field Test and Seed Scale Up Program. Planting was completed under our 2021 Field Test and Seed Scale Up program at all contracted sites in the United States, Canada, and Argentina. The program is designed to test several varieties of elite Camelina, as well as seed yield and oil content traits. In addition, we are scaling up three Camelina varieties under contract with a seed company to enable larger scale plantings in 2022. We expect that harvest of seeds across the field tests will be completed in third quarter 2021, and that data will be received starting in fourth quarter 2021.
- Adding Key Hires to the Team. Tichafa Munyikwa, Ph.D. was appointed as Director of Regulatory Affairs and will be responsible for developing and executing regulatory strategy for Yield10’s performance and content traits deployed in Camelina. In addition, Nicholas Renegar, Ph.D.was appointed as Director, Business Analytics and Operations and will be responsible for business analytics and project management as well as supporting Yield10’s business development, supply chain development, and seed operations activities.
- Expanding our Portfolio of Promising Oil Content Trait Targets. Yield10 researchers achieved proof of concept showing that four novel gene targets identified using the GRAIN (Gene Ranking Artificial Intelligence Network) platform impact seed development and/or oil content. In greenhouse testing, one of the three targets, C3020, produced a 10% increase in seed oil content when engineered with increased activity in Camelina. Data obtained from increasing activity of the other three targets, C3019, C3021, and C3022 indicates these represent good targets for CRISPR genome-editing. Pure field grown seed of C3020 is being produced in 2021 for subsequent larger scale evaluation.
- Expanding our Intellectual Property Portfolio. In 2021, U.S. patents were granted on two traits in-licensed by Yield10 including trait C3007 for increasing oil content, as well as for the Camelina omega-3 (DHA+EPA) oil trait. In July, a U.S. patent was allowed for the synthetic biology trait C3006 developed in-house to increase seed yield and oil content in Camelina.
COVID-19 Impact on Operations. The Company has implemented business continuity plans to address the COVID-19 pandemic and minimize disruptions to ongoing operations. To date, despite the pandemic, we have been able to move forward with the operational steps required to execute our 2021 field trials in Canada and the United States. However, it is possible that any potential future closures of our research facilities, should they continue for an extended time, could adversely impact our anticipated time frames for evaluating and/or reporting data from our field trials and other work we plan to accomplish during 2021 and beyond.
SECOND QUARTER 2021 FINANCIAL OVERVIEW
Cash Position
Yield10 Bioscience is managed with an emphasis on cash flow and deploys its financial resources in a disciplined manner to achieve its key strategic objectives.
Yield10 ended the second quarter of 2021 with $20.6 million in unrestricted cash and investments; a net decrease of $2.1 million from unrestricted cash and investments of $22.7 million versus the previous quarter ended March 31, 2021. Net cash used by operating activities during the second quarter of 2021 was $2.1 million compared to $2.3 million used in the second quarter of 2020. The Company continues to estimate net cash usage during the full year 2021 within a range of $10.0 – $11.0 million.
The Company’s present capital resources are expected to fund its planned operations into the second quarter of 2023. Yield10’s ability to continue operations after its current cash resources are exhausted depends on its ability to obtain additional financing, including public or private equity financing, secured or unsecured debt financing, and receipt of additional government research grants, as well as licensing or other collaborative arrangements.
Operating Results
Grant revenue for the second quarter of 2021 and the second quarter of 2020 was consistent at $0.2 million. Research and development expenses increased by $0.5 million from $1.2 million during the second quarter of 2020 to $1.7 million in the second quarter of 2021. This increase was primarily the result of higher stock-based compensation costs, a non-cash charge, and expanded Camelina field trials and related work being undertaken during 2021 at sites in the U.S., Canada and Argentina. General and administrative expenses increased by $0.4 million from $1.2 million during the second quarter of 2020 to $1.6 million during the second quarter of 2021. This increase was partly due to higher stock-based compensation expense as well as from costs associated with recruiting and hiring additional professional staff. Yield10 also incurred higher consulting expenses during the second quarter of 2021 in connection with early stage Camelina business development activity.
Yield10 reported a loss from operations of $3.1 million for the second quarter ended June 30, 2021, compared to a loss from operations of $2.1 million for the same quarter of 2020. The Company also reported a net loss after income taxes of $3.1 million, or $0.64 per share, for the three months ended June 30, 2021, in comparison to a net loss after income taxes of $1.8 million, or $0.92 per share, for the three months ended June 30, 2020. During the second quarter of 2020, Yield10 recognized $0.3 million of income within other income (expense) from its PPP loan that was issued and forgiven pursuant to the CARES Act.
For the six months ended June 30, 2021, the Company reported a loss from operations of $5.6 million in comparison to a six-month loss from operations of $4.8 million during the same period of 2020. Net loss after taxes was $5.7 million and $5.4 million during the six months ended June 30, 2021 and 2020, respectively. Year to date grant revenue earned through June 30, 2021 and June 30, 2020 was $0.4 million for both periods. Research and development and general and administrative expenses were both $3.0 million during the six months ended June 30, 2021. In comparison, research and development and general and administrative expenses were both $2.6 million for the six months ended June 30, 2020. During the first six months of 2020, Yield10 reported a loss of $1.0 million within other income (expense) as a result of a change in fair value of its warrant liability. The Company also reported the $0.3 million of income from its forgiven PPP loan during the six months ended June 30, 2020.
Conference Call Information
Yield10 Bioscience management will host a conference call at 4:30 p.m. (ET) today to discuss the second quarter 2021 results. The Company also will provide an update on the business and answer questions from the investor community. A live webcast of the call with slides can be accessed through the Company’s website at www.yield10bio.com in the investor relations events section. To participate in the call, dial toll-free 877-709-8150 or 201-689-8354 (international).
To listen to a telephonic replay of the conference call, dial toll-free 877-660-6853 or 201-612-7415 (international) and enter pass code 13720690. The replay will be available until August 25, 2021. In addition, the webcast will be archived on the Company’s website in the investor relations events section.
About Yield10 Bioscience
Yield10 Bioscience, Inc. is an agricultural bioscience company that is using its differentiated trait gene discovery platform, the “Trait Factory”, to develop improved Camelina varieties for the production of proprietary seed products, and to discover high value genetic traits for the agriculture and food industries. Our goals are to efficiently establish a high value seed products business based on developing superior varieties of Camelina for the production of feedstock oils, nutritional oils, and PHA bioplastics, and to license our yield traits to major seed companies for commercialization in major row crops, including corn, soybean and canola. Yield10 is headquartered in Woburn, MA and has an Oilseeds Center of Excellence in Saskatoon, Canada.
For more information about the company, please visit www.yield10bio.com, or follow the Company on Twitter, Facebook and LinkedIn. (YTEN-E)
Safe Harbor for Forward-Looking Statements
This press release contains forward-looking statements which are made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The forward-looking statements in this release do not constitute guarantees of future performance. Investors are cautioned that statements in this press release which are not strictly historical statements, including, without limitation, expectations regarding Yield10’s cash position, cash forecasts and runway, expectations related to research and development activities, intellectual property, the expected regulatory path for traits, reproducibility of data from field tests, the timing of completion of additional greenhouse and field test studies, the planting and the outcomes of 2021 field tests and seed scale-up activities, the signing of research licenses and collaborations, including whether the objectives of those collaborations will be met, whether the Company will be able to generate proof points for traits in development and advance business discussions around its Camelina business plan, the potential impact on operations of the COVID-19 pandemic, and value creation as well as the overall progress of Yield10 Bioscience, Inc., constitute forward-looking statements. Such forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from those anticipated, including the risks and uncertainties detailed in Yield10 Bioscience’s filings with the Securities and Exchange Commission. Yield10 Bioscience assumes no obligation to update any forward-looking information contained in this press release or with respect to the announcements described herein.
Contacts:
Yield10 Bioscience:
Lynne H. Brum, (617) 682-4693, [email protected]
Investor Relations:
Bret Shapiro, (561) 479-8566, [email protected]
Managing Director, CORE IR
Media Inquiries:
Eric Fischgrund, [email protected]
FischTank PR
(FINANCIAL TABLES FOLLOW)
YIELD10 BIOSCIENCE, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
UNAUDITED
(In thousands, except share and per share amounts)
| Three Months Ended June 30, |
Six Months Ended June 30, |
||||||||||||||||||
| 2021 | 2020 | 2021 | 2020 | ||||||||||||||||
| Revenue: | |||||||||||||||||||
| Grant revenue | $ | 174 | $ | 221 | $ | 370 | $ | 400 | |||||||||||
| Total revenue | 174 | 221 | 370 | 400 | |||||||||||||||
| Expenses: | |||||||||||||||||||
| Research and development | 1,651 | 1,179 | 2,967 | 2,639 | |||||||||||||||
| General and administrative | 1,604 | 1,179 | 3,036 | 2,566 | |||||||||||||||
| Total expenses | 3,255 | 2,358 | 6,003 | 5,205 | |||||||||||||||
| Loss from operations | (3,081 | ) | (2,137 | ) | (5,633 | ) | (4,805 | ) | |||||||||||
| Other income (expense): | |||||||||||||||||||
| Change in fair value of warrants | — | — | — | (957 | ) | ||||||||||||||
| Loan forgiveness income | — | 333 | — | 333 | |||||||||||||||
| Other income (expense), net | — | 15 | (1 | ) | 48 | ||||||||||||||
| Total other income (expense) | — | 348 | (1 | ) | (576 | ) | |||||||||||||
| Net loss from operations before income taxes | (3,081 | ) | (1,789 | ) | (5,634 | ) | (5,381 | ) | |||||||||||
| Income tax provision | (11 | ) | (7 | ) | (19 | ) | (15 | ) | |||||||||||
| Net loss | $ | (3,092 | ) | $ | (1,796 | ) | $ | (5,653 | ) | $ | (5,396 | ) | |||||||
| Basic and diluted net loss per share | $ | (0.64 | ) | $ | (0.92 | ) | $ | (1.23 | ) | $ | (2.95 | ) | |||||||
| Number of shares used in per share calculations: | |||||||||||||||||||
| Basic and diluted | 4,868,156 | 1,957,927 | 4,583,723 | 1,827,526 | |||||||||||||||
YIELD10 BIOSCIENCE, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
UNAUDITED
(In thousands, except share and per share amounts)
| June 30, 2021 |
December 31, 2020 |
||||||||
| Assets | |||||||||
| Current Assets: | |||||||||
| Cash and cash equivalents | $ | 15,641 | $ | 3,423 | |||||
| Short-term investments | 4,921 | 6,279 | |||||||
| Accounts receivable | 76 | 86 | |||||||
| Unbilled receivables | 38 | 27 | |||||||
| Prepaid expenses and other current assets | 509 | 527 | |||||||
| Total current assets | 21,185 | 10,342 | |||||||
| Restricted cash | 264 | 264 | |||||||
| Property and equipment, net | 949 | 921 | |||||||
| Right-of-use assets | 2,537 | 2,712 | |||||||
| Other assets | 275 | 283 | |||||||
| Total assets | $ | 25,210 | $ | 14,522 | |||||
| Liabilities and Stockholders’ Equity | |||||||||
| Current Liabilities: | |||||||||
| Accounts payable | $ | 101 | $ | 60 | |||||
| Accrued expenses | 1,237 | 1,297 | |||||||
| Lease liabilities | 485 | 457 | |||||||
| Total current liabilities | 1,823 | 1,814 | |||||||
| Lease liabilities, net of current portion | 2,915 | 3,163 | |||||||
| Other long-term liabilities | 10 | 13 | |||||||
| Total liabilities | 4,748 | 4,990 | |||||||
| Commitments and contingencies | |||||||||
| Stockholders’ Equity: | |||||||||
| Preferred stock ($0.01 par value per share); 5,000,000 shares authorized; no shares issued or outstanding | — | — | |||||||
| Common stock ($0.01 par value per share); 60,000,000 shares authorized at June 30, 2021 and December 31, 2020; 4,868,466 and 3,334,048 shares issued and outstanding at June 30, 2021 and December 31, 2020, respectively | 49 | 33 | |||||||
| Additional paid-in capital | 401,319 | 384,758 | |||||||
| Accumulated other comprehensive loss | (153 | ) | (159 | ) | |||||
| Accumulated deficit | (380,753 | ) | (375,100 | ) | |||||
| Total stockholders’ equity | 20,462 | 9,532 | |||||||
| Total liabilities and stockholders’ equity | $ | 25,210 | $ | 14,522 | |||||
YIELD10 BIOSCIENCE, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
UNAUDITED
(in thousands)
| Six Months Ended June 30, |
|||||||||
| 2021 | 2020 | ||||||||
| Cash flows from operating activities | |||||||||
| Net loss | $ | (5,653 | ) | $ | (5,396 | ) | |||
| Adjustments to reconcile net loss to cash used in operating activities: | |||||||||
| Depreciation and amortization | 108 | 91 | |||||||
| Change in fair value of warrants | — | 957 | |||||||
| Loan forgiveness income | — | (333 | ) | ||||||
| Loss on disposal of fixed assets | — | 206 | |||||||
| Charge for 401(k) company common stock match | 69 | 66 | |||||||
| Stock-based compensation | 739 | 297 | |||||||
| Non-cash lease expense | 175 | 262 | |||||||
| Deferred income tax provision | 14 | 27 | |||||||
| Changes in operating assets and liabilities: | |||||||||
| Accounts receivable | 10 | 59 | |||||||
| Unbilled receivables | (11 | ) | (39 | ) | |||||
| Prepaid expenses and other assets | 24 | 84 | |||||||
| Accounts payable | 41 | (129 | ) | ||||||
| Accrued expenses | (69 | ) | (390 | ) | |||||
| Lease liabilities | (220 | ) | (391 | ) | |||||
| Other liabilities | (3 | ) | 17 | ||||||
| Net cash used for operating activities | (4,776 | ) | (4,612 | ) | |||||
| Cash flows from investing activities | |||||||||
| Purchase of property and equipment | (136 | ) | (42 | ) | |||||
| Proceeds from sale of property and equipment | — | 10 | |||||||
| Purchase of investments | (3,891 | ) | (503 | ) | |||||
| Proceeds from the maturity of short-term investments | 5,250 | 999 | |||||||
| Net cash provided by investing activities | 1,223 | 464 | |||||||
| Cash flows from financing activities | |||||||||
| Proceeds from warrants exercised | 3,856 | 1,658 | |||||||
| Proceeds from PPP loan | — | 333 | |||||||
| Proceeds from public offering, net of issuance costs | 11,993 | — | |||||||
| Taxes paid on employees’ behalf related to vesting of stock awards | (83 | ) | — | ||||||
| Net cash provided by financing activities | 15,766 | 1,991 | |||||||
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | 5 | (48 | ) | ||||||
| Net increase (decrease) in cash, cash equivalents and restricted cash | 12,218 | (2,205 | ) | ||||||
| Cash, cash equivalents and restricted cash at beginning of period | 3,687 | 5,749 | |||||||
| Cash, cash equivalents and restricted cash at end of period | $ | 15,905 | $ | 3,544 | |||||
Artificial Intelligence
Unlock an Exclusive Olympic Experience: Celebrating Live4Well’s Sold-Out Genesis NFT
HONG KONG, May 25, 2024 /PRNewswire/ — The buzz surrounding Live4Well’s successful Genesis NFT membership launch on May 23 has captivated both traditional and web3 communities. Combining the power of AI technology and decentralized physical infrastructure (DePin) concept, Live4Well has infused new life into the NFT market. The overwhelming response to their first NFT sales, showcases the project’s immense potential. Renowned web3 community leaders from Azuki, Bored Ape, Pudgy Penguins, WELL3, etc have joined forces with Live4Well, propelling the Genesis NFT membership collection to its resounding success.
Live4Well aims to transform the wellness industry by creating a reward-based infrastructure that connects global fitness data, enhances their AI database, and drives the development of sports and wellness. Backed by a multi-billion family office, which recently invested $20 million in Live4Well, the project has gained support in both web3 and traditional spaces. The team believes that every drop of sweat and effort toward better health should be rewarded, fostering motivation and integrating exercise into daily lives for enhanced well-being.
Live4Well’s announcement of an Olympic-themed raffle for Genesis NFT holders reflects their commitment to connecting wellness between Web2 and Web3 platforms. This testament to Live4Well’s demand and innovative vision solidifies their position as a promising leader in the industry. Their integration of the Olympic signifies their determination to inspire a global audience, leveraging blockchain technology to create an immersive ecosystem that revolutionizes how individuals engage with fitness on a daily basis for better health. Live4Well’s dedication to bridging the gap between traditional practices and the digital landscape sets them apart as pioneers in promoting well-being on a global scale.
What is Genesis NFT membership?
The Genesis NFT unlocks a multitude of benefits for holders, including the opportunity to cash out their sportive income and access a range of exclusive physical products and services. In addition to future airdrops and angel round whitelist privileges, Genesis holders will receive VIP tailor-made product packs from an innovative German sportswear company, elevating their exercise performance to new heights. With over 400 million sweat points farmed by their users, they are eager to redeem through the Genesis NFT membership. These enticing incentives explain why there was a widespread eagerness to participate in this thrilling event.
Unlike typical projects that raise funds before launching products or services, Live4Well has already released its AI-powered app, amassing over 250,000 users as a community base actively engaging in daily exercise. This early success has fostered a promising community within the wellness industry, as users trust Live4Well’s roadmap and collaborative ventures. The growing traction from both ordinary individuals and web3 enthusiasts has intensified the demand for redeeming and cashing out sweat points, the project’s exercise-based rewards. Obtaining the Genesis NFT membership is now seen as an essential step for accessing the highest tier of benefits and cashing out sportive income.
What’s next for Live4Well?
Following the Genesis sales, Live4Well’s team will shift their focus to the upcoming token generation event (TGE) and a series of farming events. They also have exciting plans for partnerships and other collaborations in the global wellness and fitness industries. If you missed the initial launch, be sure to stay updated on Live4Well’s journey and join this extraordinary revolution.
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Artificial Intelligence
Overseas Expansion Strategy of K-OTT Introduced in France, KOCCA holds the ‘2024 Korea-France Content Forum’
– The ‘Korea-France Content Forum’ held to establish the Foundation for K-OTT’s oversea expansion
PARIS, May 24, 2024 /PRNewswire/ — The Ministry of Culture, Sports and Tourism (Minister Yu In-chon) and the Korea Creative Content Agency (President, Jo Hyun-rae, hereafter KOCCA) held the ‘2024 Korea-France Content Forum’ on May 24th during the Korea Expo in Paris, France.
The ‘2024 Korea-France Content Forum’ featured a keynote session (K-OTT’s Strategies in Global market) presenting K-OTT’s strategies for international expansion and a roundtable session (Strategies in the Era of Streaming) discussing the growth of OTT platforms and collaborative approaches with production companies.
The forum featured participation from various industry leaders including Kun hee Park (CEO, Wavve Americas), Sangjin Lee (Head of content IP Business, LG U+), Seung ae Sohn (Executive Director, Showbox), Ji ae Sohn (Ambassador for Cultural Cooperation), Moonju Kim (General Director, France Business Center, KOCCA), Isabelle Degeorges (President, Gaumont Television France) which produced the French Netflix original series, participated.
Strategy announcement by Wavve Americas (KOCAWA), the first K-OTT’s launched in Europe
During the Keynote Session, Park Kun Hee – CEO of Wavve Americas, the first domestic OTT Platform to launch services in Europe, Took the stage to discuss the international expansion strategy of KOCOWA, which started offering services in 39 countries including Europe since April of this year. Following this, Lee Sangjin, Head of Content IP Business of LG U+, presented the expansion strategy of LG U+ Mobile TV, encompassing diverse original content.
During the round-table session, participants shared thoughts and solutions regarding the survival strategies of local OTT platforms and production companies amidst the rapid waves of change brought about by the emergence of global OTT platforms.
In particular, through this forum, we were able to observe the proactive implementation of IP protection policies by local production companies in France, aimed at sustainable content creation. Isabelle Degeorges, CEO of Gaumont Television France, noted, “With the introduction of the European Audiovisual Media Services Directive (AVMSD), platforms and production companies can share IPs three years after supplying the content.” Kim Moon-joo, Director of the Korea Creative Content Agency’s France Business Center, participated as a panelist, introducing policies aimed at enhancing the competitiveness of K-OTT and fostering collaboration with production companies.
Park Kun Hee, CEO of Wavve Americas, who participated in the event, stated, “It was a meaningful opportunity to introduce our platform locally in Europe in line with KOCOWA’s expansion into the region”. Additionally, Kyoungbon Koo, Director Broadcasting & Video Content Division at KOCCA commented, “It was a meaningful occasion to not only introduce K-OTT’s strategies to Europe but also to exchange ideas on collaboration between Korea and France. We will continue to focus on activating various forms of collaboration with major international partners in the future”.
KOCCA supports the overseas expansion of excellent domestic OTT content and platforms through the newly established Local OTT Specialized Support Program this year. This initiative aims to enhance the competitiveness of domestic OTT platforms and content by adapting to the changing industrial environment.
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Artificial Intelligence
IoT Node and Gateway Market worth $604.7 billion by 2029 – Exclusive Report by MarketsandMarkets™
CHICAGO, May 24, 2024 /PRNewswire/ — The IoT Node and Gateway market is projected to grow from USD 424.6 billion in 2024 and is estimated to reach USD 604.7 billion by 2029; it is expected to grow at a Compound Annual Growth Rate (CAGR) of 7.3% from 2024 to 2029 according to a new report by MarketsandMarkets™. The growth of the IoT Node and Gateway market is driven by the Provision of increased IP address space through IPv6, Emergence of 5G technology, and Increasing need for data centers.
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Browse in-depth TOC on “IoT Node and Gateway Market”
410 – Tables70 – Figures390 – Pages
IoT Node and Gateway Market Report Scope:
Report Coverage
Details
Market Revenue in 2024
$ 424.6 billion
Estimated Value by 2029
$ 604.7 billion
Growth Rate
Poised to grow at a CAGR of 7.3%
Market Size Available for
2020–2029
Forecast Period
2024–2029
Forecast Units
Value (USD Million/Billion)
Report Coverage
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered
By Hardware, End-use Application and Region
Geographies Covered
North America, Europe, Asia Pacific, and Rest of World
Key Market Challenge
Requirement for wireless spectrum and licensed spectrum
Key Market Opportunities
Accelerated IoT adoption in healthcare sector
Key Market Drivers
Rising use of wireless smart sensors and networks
By Hardware, the Logic Devices are projected to grow at a high CAGR of IoT Node and Gateway market during the forecast period.
Logic devices can adapt to changing requirements even after deployment. As new features or functionalities are needed, the logic within the device can be reprogrammed to accommodate these changes, extending the useful life of the product and reducing the need for hardware revisions. The integration of FPGA technology into IoT devices further enhances these advantages. The integration of FPGAs into IoT nodes and gateways empowers manufacturers to develop highly optimized, customizable, and scalable solutions that meet the diverse needs of IoT applications. Tesla’s Full Self-Driving (FSD) computer utilizes FPGAs to handle complex neural network computations for autonomous driving algorithms. This allows them to potentially improve their FSD capabilities through software updates that reconfigure the logic within the FPGAs.
BFSI segment in IoT Node and Gateway Market is projected to grow at a highest CAGR during the forecast period.
BFSI sector can use IoT technology to provide more convenient solutions for customers. IoT can be used to perform data collection in real time and for instant communication between devices. For instance, it can facilitate cashless payments using an RFID scanner to identify products in the shopping cart and mobile wallet. The adoption of mobile point of sale (mPOS) systems and kiosks is fundamentally reshaping the landscape of the BFSI market. mPOS facilitates transactions anytime, anywhere, benefiting unbanked populations and enabling temporary service points for events. Kiosks offer convenient banking functionalities, reducing wait times and freeing up staff for complex inquiries. These technologies drive cost savings by requiring less investment and automating routine tasks, allowing resources to be reallocated strategically. They provide rich data for personalized services, fraud detection, and operational optimization. mPOS systems and kiosks promote financial inclusion by extending services to remote areas, fostering economic activity and well-being.
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North America accounts for the largest share in IoT Node and Gateway Industry.
The North American IoT market is poised to grow, driven by government efforts to transition cities into smart urban centers. The growing need for sophisticated IoT solutions, fueled by the widespread availability of high-speed data, will further propel market expansion in this region. Furthermore, North America’s dynamic IoT node and gateway ecosystem features established players like Intel Corporation (US), Texas Instruments Incorporated (US), Dell (US), and Cisco Systems (US), driving competition, innovation, and affordability. Increasing research and development at industry levels is broadening the application areas of IoT in various industries, such as retail, consumer electronics, automotive and transportation, and healthcare, especially in the US. The increased demand for effective solutions and focus on early, accurate, and fast diagnosis of diseases has led to huge investments in technological developments in the healthcare sector.
Key Players
Key companies operating in the IoT Node and Gateway companies are Intel Corporation (US), Qualcomm Technologies, Inc. (US), Texas Instruments Incorporated (US), STMicroelectronics (Switzerland), Microchip Technology Inc. (US), Huawei Technologies Co., Ltd. (China), NXP Semiconductors N.V. (Netherlands), Cisco Systems, Inc. (US), Hewlett Packard Enterprise Development LP (US), TE Connectivity Ltd (Switzerland), Advantech Co., Ltd. (Taiwan), Dell Technologies (US), among others.
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IoT Technology Market by Node Component (Sensor, Memory Device, Connectivity IC, Processor, Logic Devices), Software Solution (Remote Monitoring, Data Management), Platform, Service, End-use Application, Geography – Global Forecast to 2029
Industrial IoT Market Size, Share & Industry Growth Analysis Report by Device & Technology, Connectivity Type, Software, Vertical (Manufacturing, Energy, Oil & Gas, Healthcare, Retail, Transportation, Metals & Mining, Agriculture), and Geography – Global Growth Driver and Industry Forecast to 2026
Internet of Robotic Things Market (IoRT) by Component (Sensor, Power, Control), Service (Professional, Managed), Platform (Device, Application, Network), Software (Analytics, Data, Security, Monitoring, Bandwidth), Application – Global Forecast to 2022
MulteFire Market by Device (Small Cells, Switches, Controllers), Application (Industrial Manufacturing, Commercial, Transportation, Public Venues, Healthcare, Oil & Gas and Mining, Power Generation, Hospitality), and Geography – Global forecast 2025
Smart Robots Market Size, Share by Component (Sensors, Actuators, Control Systems), Type, Operating Environment, Mobility, Application (Domestic, Field/Agricultural, Public Relations, Industrial), and Region – Global Forecast to 2025
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