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NVIDIA Announces Financial Results for Second Quarter Fiscal 2022

Published

3 years ago

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  • Record revenue of $6.51 billion, up 68 percent from a year earlier
  • Record Gaming revenue of $3.06 billion, up 85 percent from a year earlier
  • Record Data Center revenue of $2.37 billion, up 35 percent from a year earlier

SANTA CLARA, Calif., Aug. 18, 2021 (GLOBE NEWSWIRE) — NVIDIA (NASDAQ: NVDA) today reported record revenue for the second quarter ended August 1, 2021, of $6.51 billion, up 68 percent from a year earlier and up 15 percent from the previous quarter, with record revenue from the company’s Gaming, Data Center and Professional Visualization platforms.

GAAP earnings per diluted share for the quarter were $0.94, up 276 percent from a year ago and up 24 percent from the previous quarter. Non-GAAP earnings per diluted share were $1.04, up 89 percent from a year ago and up 14 percent from the previous quarter.

“NVIDIA’s pioneering work in accelerated computing continues to advance graphics, scientific computing and AI,” said Jensen Huang, founder and CEO of NVIDIA.

“Enabled by the NVIDIA platform, developers are creating the most impactful technologies of our time – from natural language understanding and recommender systems, to autonomous vehicles and logistic centers, to digital biology and climate science, to metaverse worlds that obey the laws of physics.

“This quarter, we launched NVIDIA Base Command and Fleet Command to develop, deploy, scale and orchestrate the AI workloads that run on the NVIDIA AI Enterprise software suite. With our new enterprise software, wide range of NVIDIA-powered systems and global network of system and integration partners, we can accelerate the world’s largest industries racing to benefit from the transformative power of AI.

“We are thrilled to have launched NVIDIA Omniverse, a simulation platform nearly five years in the making that runs physically realistic virtual worlds and connects to other digital platforms. We imagine engineers, designers and even autonomous machines connecting to Omniverse to create digital twins and industrial metaverses,” he said.

NVIDIA paid quarterly cash dividends of $100 million in the second quarter. It will pay its next quarterly cash dividend of $0.04 per share on September 23, 2021, to all shareholders of record on September 1, 2021.

On July 19, 2021, the company completed a four-for-one split of its common stock in the form of a stock dividend to shareholders of record as of June 21, 2021. All share and per share amounts presented have been retroactively adjusted to reflect the stock split.

Q2 Fiscal 2022 Summary

GAAP
($ in millions, except earnings per share) Q2 FY22 Q1 FY22 Q2 FY21 Q/Q Y/Y
Revenue $ 6,507   $ 5,661   $ 3,866   Up 15% Up 68%
Gross margin   64.8 %   64.1 %   58.8 % Up 70 bps Up 600 bps
Operating expenses $ 1,771   $ 1,673   $ 1,624   Up 6% Up 9%
Operating income $ 2,444   $ 1,956   $ 651   Up 25% Up 275%
Net income $ 2,374   $ 1,912   $ 622   Up 24% Up 282%
Diluted earnings per share $ 0.94   $ 0.76   $ 0.25   Up 24% Up 276%
Non-GAAP
($ in millions, except earnings per share) Q2 FY22 Q1 FY22 Q2 FY21 Q/Q Y/Y
Revenue $ 6,507   $ 5,661   $ 3,866   Up 15% Up 68%
Gross margin   66.7 %   66.2 %   66.0 % Up 50 bps Up 70 bps
Operating expenses $ 1,266   $ 1,189   $ 1,035   Up 6% Up 22%
Operating income $ 3,071   $ 2,557   $ 1,516   Up 20% Up 103%
Net income $ 2,623   $ 2,313   $ 1,366   Up 13% Up 92%
Diluted earnings per share $ 1.04   $ 0.91   $ 0.55   Up 14% Up 89%

NVIDIA’s outlook for the third quarter of fiscal 2022 is as follows:

  • Revenue is expected to be $6.80 billion, plus or minus 2 percent.
  • GAAP and non-GAAP gross margins are expected to be 65.2 percent and 67.0 percent, respectively, plus or minus 50 basis points.
  • GAAP and non-GAAP operating expenses are expected to be approximately $1.96 billion and $1.37 billion, respectively.
  • GAAP and non-GAAP other income and expense are both expected to be an expense of approximately $60 million, excluding gains and losses on equity securities.
  • GAAP and non-GAAP tax rates are both expected to be 11 percent, plus or minus 1 percent, excluding any discrete items such as excess tax benefits or deficiencies related to stock-based compensation.

Highlights

NVIDIA achieved progress since its previous earnings announcement in these areas:

Gaming

Data Center

Professional Visualization

  • Second-quarter revenue was a record $519 million, up 156 percent from a year earlier and up 40 percent from the previous quarter.
  • Expanded NVIDIA Omniverse™, the world’s first 3D, real-time simulation and collaboration platform, through new integrations with Blender and Adobe, applications used by millions of users.
  • Launched the NVIDIA RTX A2000, which brings RTX to the volume segment of the desktop workstation market and enables a range of new form factors from backs of displays to edge devices.

Automotive

  • Second-quarter revenue was $152 million, up 37 percent from a year earlier and down 1 percent from the previous quarter.
  • Announced that self-driving startup AutoX’s Gen5 robotaxi platform uses NVIDIA DRIVE® to achieve level 4 autonomy.
  • Collaborated with autonomous trucking company Plus on plans to provide Amazon with at least 1,000 self-driving systems, which are powered by NVIDIA DRIVE.
  • Announced that autonomous trucking platform startup Embark is using NVIDIA DRIVE to create systems for Freightliner, Navistar International, PACCAR and Volvo.

CFO Commentary
Commentary on the quarter by Colette Kress, NVIDIA’s executive vice president and chief financial officer, is available at https://investor.nvidia.com/.

Conference Call and Webcast Information
NVIDIA will conduct a conference call with analysts and investors to discuss its second quarter financial results and current financial prospects today at 2 p.m. Pacific time (5 p.m. Eastern time). A live webcast (listen-only mode) of the conference call will be accessible at NVIDIA’s investor relations website, https://investor.nvidia.com. The webcast will be recorded and available for replay until NVIDIA’s conference call to discuss its financial results for its third quarter of fiscal 2022.

Non-GAAP Measures
To supplement NVIDIA’s condensed consolidated financial statements presented in accordance with GAAP, the company uses non-GAAP measures of certain components of financial performance. These non-GAAP measures include non-GAAP gross profit, non-GAAP gross margin, non-GAAP operating expenses, non-GAAP income from operations, non-GAAP other income (expense), net, non-GAAP net income, non-GAAP net income, or earnings, per diluted share, and free cash flow. For NVIDIA’s investors to be better able to compare its current results with those of previous periods, the company has shown a reconciliation of GAAP to non-GAAP financial measures. These reconciliations adjust the related GAAP financial measures to exclude stock-based compensation expense, acquisition-related and other costs, IP-related costs, gains and losses from non-affiliated investments, mark to market adjustments of our publicly traded equity securities, interest expense related to amortization of debt discount, the associated tax impact of these items where applicable, and domestication tax benefit. Free cash flow is calculated as GAAP net cash provided by operating activities less both purchases of property and equipment and intangible assets and principal payments on property and equipment and intangible assets. NVIDIA believes the presentation of its non-GAAP financial measures enhances the user’s overall understanding of the company’s historical financial performance. The presentation of the company’s non-GAAP financial measures is not meant to be considered in isolation or as a substitute for the company’s financial results prepared in accordance with GAAP, and the company’s non-GAAP measures may be different from non-GAAP measures used by other companies.

About NVIDIA
NVIDIA’s (NASDAQ: NVDA) invention of the GPU in 1999 sparked the growth of the PC gaming market and has redefined modern computer graphics, high performance computing and artificial intelligence. The company’s pioneering work in accelerated computing and AI is reshaping trillion-dollar industries, such as transportation, healthcare and manufacturing, and fueling the growth of many others. More information at https://nvidianews.nvidia.com/.

For further information, contact:

Certain statements in this press release including, but not limited to, statements as to: NVIDIA’s pioneering work in accelerated computing and its impacts; NVIDIA’s platform enabling developers to create the most impactful technologies of our time; NVIDIA accelerating the world’s largest industries racing to benefit from the transformative power of AI; the benefits, performance and abilities of our products and technologies, including NVIDIA Base Command, Fleet Command, NVIDIA Omniverse, GeForce RTX 3080 Ti and 3070 Ti, NVIDIA Reflex, GeForce NOW, NVIDIA AI LaunchPad, TensorRT 8, NVIDIA A100 GPU VMs, NVIDIA BlueField-2, NVIDIA RTX A2000, and NVIDIA DRIVE; our ability to bring the power of AI to the world’s largest industries with our global network of system partners and new enterprise software and subscriptions; engineers, designers and autonomous machines connecting to Omniverse to create digital twins and industrial metaverses; NVIDIA’s next quarterly cash dividend; NVIDIA’s financial outlook for the third quarter of fiscal 2022; NVIDIA’s expected tax rates for the third quarter of fiscal 2022; and the impact of the first AI-on-5G Innovation Lab are forward-looking statements that are subject to risks and uncertainties that could cause results to be materially different than expectations. Important factors that could cause actual results to differ materially include: global economic conditions; our reliance on third parties to manufacture, assemble, package and test our products; the impact of technological development and competition; development of new products and technologies or enhancements to our existing product and technologies; market acceptance of our products or our partners’ products; design, manufacturing or software defects; changes in consumer preferences or demands; changes in industry standards and interfaces; unexpected loss of performance of our products or technologies when integrated into systems; as well as other factors detailed from time to time in the most recent reports NVIDIA files with the Securities and Exchange Commission, or SEC, including, but not limited to, its annual report on Form 10-K and quarterly reports on Form 10-Q. Copies of reports filed with the SEC are posted on the company’s website and are available from NVIDIA without charge. These forward-looking statements are not guarantees of future performance and speak only as of the date hereof, and, except as required by law, NVIDIA disclaims any obligation to update these forward-looking statements to reflect future events or circumstances.

© 2021 NVIDIA Corporation. All rights reserved. NVIDIA, the NVIDIA logo, GeForce, BlueField, Fleet Command, GeForce NOW, GeForce RTX, NVIDIA Base Command, NVIDIA DOCA, NVIDIA DRIVE, NVIDIA Omniverse, NVIDIA RTX, GeForce NOW, GeForce RTX and TensorRT are trademarks and/or registered trademarks of NVIDIA Corporation in the U.S. and/or other countries. Other company and product names may be trademarks of the respective companies with which they are associated. Features, pricing, availability, and specifications are subject to change without notice.

 

NVIDIA CORPORATION  
 CONDENSED CONSOLIDATED STATEMENTS OF INCOME  
(In millions, except per share data)  
(Unaudited)  
                     
                     
      Three Months Ended   Six Months Ended  
      August 1,   July 26,   August 1,   July 26,  
      2021   2020   2021   2020  
                     
Revenue $ 6,507     $ 3,866     $ 12,168     $ 6,946    
Cost of revenue   2,292       1,591       4,324       2,667    
Gross profit   4,215       2,275       7,844       4,279    
Operating expenses                
  Research and development   1,245       997       2,398       1,732    
  Sales, general and administrative   526       627       1,046       920    
    Total operating expenses   1,771       1,624       3,444       2,652    
Income from operations   2,444       651       4,400       1,627    
  Interest income   6       13       13       44    
  Interest expense   (60 )     (54 )     (113 )     (78 )  
  Other, net   4       (1 )     138       (2 )  
    Other income (expense), net   (50 )     (42 )     38       (36 )  
Income before income tax   2,394       609       4,438       1,591    
Income tax expense (benefit)   20       (13 )     153       52    
Net income $ 2,374     $ 622     $ 4,285     $ 1,539    
                     
Net income per share (A):                
  Basic $ 0.95     $ 0.25     $ 1.72     $ 0.63    
  Diluted $ 0.94     $ 0.25     $ 1.69     $ 0.62    
                     
Weighted average shares used in per share computation (A):              
  Basic   2,493       2,464       2,489       2,460    
  Diluted   2,532       2,504       2,529       2,496    
                     
(A) Reflects a four-for-one stock split on July 19, 2021.  
NVIDIA CORPORATION  
CONDENSED CONSOLIDATED BALANCE SHEETS  
(In millions)  
(Unaudited)  
               
               
        August 1,   January 31,  
        2021   2021  
ASSETS          
               
Current assets:          
  Cash, cash equivalents and marketable securities   $ 19,654   $ 11,561  
  Accounts receivable, net     3,586     2,429  
  Inventories     2,114     1,826  
  Prepaid expenses and other current assets     452     239  
    Total current assets     25,806     16,055  
               
Property and equipment, net     2,364     2,149  
Operating lease assets     801     707  
Goodwill     4,193     4,193  
Intangible assets, net     2,478     2,737  
Deferred income tax assets     958     806  
Other assets     2,050     2,144  
    Total assets   $ 38,650   $ 28,791  
               
LIABILITIES AND SHAREHOLDERS’ EQUITY  
               
Current liabilities:          
  Accounts payable   $ 1,474   $ 1,201  
  Accrued and other current liabilities     1,974     1,725  
  Short-term debt     1,000     999  
    Total current liabilities     4,448     3,925  
               
Long-term debt     10,943     5,964  
Long-term operating lease liabilities     716     634  
Other long-term liabilities     1,396     1,375  
    Total liabilities     17,503     11,898  
               
Shareholders’ equity     21,147     16,893  
    Total liabilities and shareholders’ equity   $ 38,650   $ 28,791  
NVIDIA CORPORATION  
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS  
(In millions)  
(Unaudited)  
                     
                     
      Three Months Ended   Six Months Ended  
      August 1,   July 26,   August 1,   July 26,  
      2021   2020   2021   2020  
                     
Cash flows from operating activities:                
Net income $ 2,374     $ 622     $ 4,285     $ 1,539    
Adjustments to reconcile net income to net cash                
provided by operating activities:                
  Stock-based compensation expense   465       374       894       598    
  Depreciation and amortization   286       404       567       511    
  Deferred income taxes   (185 )     (80 )     (161 )     (64 )  
  (Gains) losses on investments in non affiliates, net   1       2       (133 )     5    
  Other   18       (10 )     16       (10 )  
Changes in operating assets and liabilities, net of acquisitions:                
  Accounts receivable   (563 )     44       (1,157 )     (205 )  
  Inventories   (123 )     54       (282 )     (97 )  
  Prepaid expenses and other assets   16       42       18       34    
  Accounts payable   209       (8 )     279       63    
  Accrued and other current liabilities   133       112       132       81    
  Other long-term liabilities   51       10       98       21    
Net cash provided by operating activities   2,682       1,566       4,556       2,476    
Cash flows from investing activities:                
  Proceeds from maturities of marketable securities   2,096       1,032       5,236       1,032    
  Proceeds from sales of marketable securities   347       258       705       259    
  Purchases of marketable securities   (4,798 )     (7,425 )     (9,268 )     (8,286 )  
  Purchases related to property and equipment and intangible assets     (183 )     (217 )     (481 )     (372 )  
  Investments and other, net   5       –       3       (7 )  
  Acquisitions, net of cash acquired   –       (7,137 )     –       (7,171 )  
Net cash used in investing activities   (2,533 )     (13,489 )     (3,805 )     (14,545 )  
Cash flows from financing activities:                
  Issuance of debt, net of issuance costs   4,985       (8 )     4,985       4,971    
  Proceeds related to employee stock plans   2       6       128       94    
  Payments related to tax on restricted stock units   (365 )     (196 )     (843 )     (418 )  
  Dividends paid   (100 )     (99 )     (198 )     (197 )  
  Principal payments on property and equipment   (21 )     –       (40 )     –    
  Other   –       –       (2 )     (3 )  
Net cash provided by (used in) financing activities   4,501       (297 )     4,030       4,447    
Change in cash and cash equivalents   4,650       (12,220 )     4,781       (7,622 )  
Cash and cash equivalents at beginning of period   978       15,494       847       10,896    
Cash and cash equivalents at end of period $ 5,628     $ 3,274     $ 5,628     $ 3,274    
  NVIDIA CORPORATION  
  RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES  
  (In millions, except per share data)  
  (Unaudited)  
                       
        Three Months Ended   Six Months Ended  
        August 1,   May 2,   July 26,   August 1,   July 26,  
        2021   2021   2020   2021   2020  
                           
  GAAP gross profit $ 4,215     $ 3,629     $ 2,275     $ 7,844     $ 4,279    
  GAAP gross margin   64.8 %     64.1 %     58.8 %     64.5 %     61.6 %  
  Acquisition-related and other costs (A)   86       87       245       173       246    
  Stock-based compensation expense (B)   32       25       14       57       35    
  IP-related costs     4       5       17       9       17    
  Non-GAAP gross profit $ 4,337     $ 3,746     $ 2,551     $ 8,083     $ 4,577    
  Non-GAAP gross margin   66.7 %     66.2 %     66.0 %     66.4 %     65.9 %  
                           
  GAAP operating expenses $ 1,771     $ 1,673     $ 1,624     $ 3,444     $ 2,652    
  Stock-based compensation expense (B)   (433 )     (404 )     (360 )     (837 )     (563 )  
  Acquisition-related and other costs (A)   (72 )     (80 )     (229 )     (152 )     (233 )  
  Non-GAAP operating expenses $ 1,266     $ 1,189     $ 1,035     $ 2,455     $ 1,856    
                           
  GAAP income from operations $ 2,444     $ 1,956     $ 651     $ 4,400     $ 1,627    
  Total impact of non-GAAP adjustments to income from operations   627       601       865       1,228       1,094    
  Non-GAAP income from operations $ 3,071     $ 2,557     $ 1,516     $ 5,628     $ 2,721    
                           
  GAAP other income (expense), net $ (50 )   $ 88     $ (42 )   $ 38     $ (36 )  
  (Gains) losses from non-affiliated investments   –       (134 )     2       (133 )     5    
  Interest expense related to amortization of debt discount   1       1       1       2       1    
  Non-GAAP other income (expense), net $ (49 )   $ (45 )   $ (39 )   $ (93 )   $ (30 )  
                           
  GAAP net income   $ 2,374     $ 1,912     $ 622     $ 4,285     $ 1,539    
  Total pre-tax impact of non-GAAP adjustments   628       468       868       1,097       1,100    
  Income tax impact of non-GAAP adjustments (C)   (127 )     (67 )     (124 )     (194 )     (153 )  
  Domestication tax benefit   (252 )     –       –       (252 )     –    
  Non-GAAP net income $ 2,623     $ 2,313     $ 1,366     $ 4,936     $ 2,486    
                           
  Diluted net income per share (D)                    
  GAAP   $ 0.94     $ 0.76     $ 0.25     $ 1.69     $ 0.62    
  Non-GAAP   $ 1.04     $ 0.91     $ 0.55     $ 1.95     $ 1.00    
                           
  Weighted average shares used in diluted net income per share computation (D)       2,532       2,528       2,504       2,529       2,496    
                           
  GAAP net cash provided by operating activities $ 2,682     $ 1,874     $ 1,566     $ 4,556     $ 2,476    
  Purchases related to property and equipment and intangible assets   (183 )     (298 )     (217 )     (481 )     (372 )  
  Principal payments on property and equipment   (21 )     (19 )     –       (40 )     –    
  Free cash flow   $ 2,478     $ 1,557     $ 1,349     $ 4,035     $ 2,104    
     
                           
  (A) Acquisition-related and other costs primarily include amortization of intangible assets, inventory step-up, transaction costs, and certain compensation charges presented as follows:  
        Three Months Ended   Six Months Ended  
        August 1,   May 2,   July 26,   August 1,   July 26,  
        2021   2021   2020   2021   2020  
  Cost of revenue $ 86     $ 87     $ 245     $ 173     $ 246    
  Research and development $ 1     $ 1     $ 3     $ 4     $ 5    
  Sales, general and administrative $ 71     $ 79     $ 226     $ 148     $ 228    
                           
  (B) Stock-based compensation consists of the following:        
        Three Months Ended   Six Months Ended  
        August 1,   May 2,   July 26,   August 1,   July 26,  
        2021   2021   2020   2021   2020  
  Cost of revenue $ 32     $ 25     $ 14     $ 57     $ 35    
  Research and development $ 297     $ 276     $ 228     $ 573     $ 362    
  Sales, general and administrative $ 136     $ 128     $ 132     $ 264     $ 201    
                           
  (C) Income tax impact of non-GAAP adjustments, including the recognition of excess tax benefits or deficiencies related to stock-based compensation under GAAP accounting standard (ASU 2016-09).  
                           
  (D) Reflects a four-for-one stock split on July 19, 2021.  
NVIDIA CORPORATION  
RECONCILIATION OF GAAP TO NON-GAAP OUTLOOK  
       
   
    Q3 FY2022
Outlook		  
    ($ in millions)  
       
GAAP gross margin   65.2 %  
  Impact of stock-based compensation expense, acquisition-related costs, and other costs   1.8 %  
Non-GAAP gross margin   67.0 %  
       
GAAP operating expenses $ 1,960    
  Stock-based compensation expense, acquisition-related costs, and other costs   (590 )  
Non-GAAP operating expenses $ 1,370    
       

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Artificial Intelligence

Free Your Hands, QIDI Vida Smart AR Glasses Lead the Way in New Sports Experience.

Published

10 hours ago

on

April 19, 2024

By

free-your-hands,-qidi-vida-smart-ar-glasses-lead-the-way-in-new-sports-experience.

NEW YORK, April 19, 2024 /PRNewswire/ — Outdoor smart AR glasses, QIDI Vida, will officially launch on 23rd April on the Kickstarter platform.  QIDI Vida integrates the many functions of smart watches, sports headphones, cycling computers, heart rate monitors, and walkie-talkies using AR+AI technology, allowing users to bid farewell to cumbersome device management and enjoy outdoor sports anytime, anywhere with just one pair of glasses.

 
Function:
QIDI Vida uses high-tech HUD (Head-Up Display) which is similar to the technology used for aircrafts and premium cars and introduces it to the sports industry. Users can activate the HUD function at any time using voice control, enabling them to focus on the route ahead whilst simultaneously having access to information such as navigation, speed, heart rate, power and cadence, among other metrics. Another great function of the QIDI Vida is that users can also enjoy audiovisual entertainment through the optically perceived 100-inch AR  HUD screen, when having some down time. 
As cyclists and hikers often travel in groups, QIDI Vida supports eSIM and team functionality, allowing real-time voice communication without releasing handlebars, and users can monitor their groups’ real-time locations. The glasses also have comprehensive sensing and monitoring capabilities including temperature, humidity, UV, air pressure, geomagnetism and acceleration. In addition to obtaining environmental and health information, it also features health warnings such as altitude sickness symptoms and high heart rate, as well as fall and collision detection functions. And, in the event of danger, it can send distress signals to teammates.
Perks:
QIDI Vida has a global voice recognition and interaction feature that allows you to control all functions within the device by voice. To better provide users with an immersive sports experience, QIDI Vida’s intelligent system will have the capability to instantly gather personalised sports data, enabling it to deliver timely voice alerts and broadcasts, including the duration of exercise, distance, the environment and the weather – all tailored to the user’s preferences.
QIDI Vida enables voice-controlled photos and video recordings, allowing users to capture moments whilst cycling or hiking without the need to stop. QIDI Vida supports connections with common cycling smart hardware such as Garmin, Wahoo, Apple, and Samsung, supports GPX route files, and is compatible with professional sports apps such as Strava, Keep, Zwift, Apple Health, and All Trails.
QIDI Vida stands out for its lightweight and comfortable design with a dual lens for a full-colour data display, unlike competing AR glasses that typically have a single lens and limited colour. This innovation significantly enhances and augments the user’s sports and reality experience.
QIDI Vida will launch on the Kickstarter platform: https://www.kickstarter.com/projects/109560964/qidi-vida-smart-ar-glasses-for-sports
HIGH RES IMAGE: https://we.tl/t-epx2syiuaRWATCH VIDEO: https://www.youtube.com/watch?v=2v_Pli2pAM8&t=164s
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Risk Analytics Market worth $180.9 billion by 2029 – Exclusive Report by MarketsandMarkets™

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April 19, 2024

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risk-analytics-market-worth-$180.9-billion-by-2029-–-exclusive-report-by-marketsandmarkets™

CHICAGO, April 19, 2024 /PRNewswire/ — The growing use of real-time monitoring and advanced analytics, integration with cutting-edge technologies like blockchain and IoT, and an emphasis on cybersecurity, cross-industry applications, and regulatory compliance are the key factors that will shape the risk analytics market in the future. The market’s development will also be influenced by collaborative risk management, improved user experience, and an increasing focus on ESG factors and risk culture.

The Risk Analytics Market is estimated to grow from USD 59.7 billion in 2024 to USD 180.9 billion in 2029, at a CAGR of 24.8% during the forecast period, according to a new report by MarketsandMarkets™.  Several trends fuel the global spread of Risk Analytics. Increasingly Increasing Data Complexity, Rising Cybersecurity Threats and Rising Adoption of Cloud-Based Solutions A growing talent pool of data scientists and engineers is building the necessary tools and infrastructure. Governments are recognizing the potential of risk analytics for economic growth and are investing in research and development. These trends make DI more accessible and valuable, leading to its global adoption.
Browse in-depth TOC on “Risk Analytics Market”260 – Tables 60 – Figures350 – Pages
Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=210662258
Scope of the Report
Report Metrics
Details
Market size available for years
2019–2023
Base year considered
2023
Forecast period
2024–2029
Forecast units
USD Billion
Segments Covered
Offering,Risk Type, Risk stages, Vertical, and Region.
Geographies covered
North America, Europe, Asia Pacific, Middle East & Africa, and Latin America
Companies covered
IBM (US), SAS Institute (US), Oracle (US), FIS(US), Moody’s Analytics (US), ProcessUnity(US), ServiceNow (US), Marsh (US), Aon (UK), MetricStream (US), Resolver (Canada), SAP (Germany), Milliman(US), LogicManager(US), Provenir(US), SAI360(US), Deloitte(UK), OneTrust(US), Diligent(US), Alteryx(US), CRISIL(India), Archer(US), ZestyAI(US), Fusion Risk Management(US), RiskVille(Ireland), SPIN Analytics(UK), Kyvos Insights(US), Imperva(US), Cirium(UK), Quantexa(UK), ClickUp(US), Sprinto(US), Ventiv(US), Adenza(US), Centrl.AI(Canada), SafetyCulture(Australia), Quantifi(US), CubeLogic(UK), Onspring(US), Riskoptics(US)
 
By offering the services segment to account for higher CAGR during the forecast period
In the Risk Analytics Market, the highest CAGR of services is fueled by Increasing Complexity of Risks, AI and machine learning advancements, big data analytics integration, business process optimization, cloud-based solutions adoption, data-driven culture, and diverse industry adoption. These trends reflect a global shift towards leveraging data for competitive advantage, driving a continuous need for sophisticated risk analytics services across sectors. As businesses prioritize agility, the growth of services in the Risk Analytics Market is driven by the need for effective risk management strategies in an increasingly complex and uncertain business environment.
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By Type, GRC software is expected to hold the largest market size for the year 2024
GRC software typically offers comprehensive solutions that cover a wide range of risk management needs, including compliance management, policy management, audit management, and risk assessment. They also provide organizations with enhanced visibility into their risk landscape. Through features such as risk assessment, risk monitoring, and reporting, organizations can identify and prioritize risks more effectively, enabling proactive risk management strategies.  GRC software streamlines risk management processes through automation, reducing manual effort and increasing efficiency. Tasks such as risk assessments, control testing, and incident management can be automated, freeing up resources to focus on strategic risk mitigation efforts. the combination of comprehensive functionality, regulatory compliance support, efficiency gains, scalability, integration capabilities, and culture enhancement makes GRC software a preferred choice for many organizations seeking to manage risk effectively.
By Vertical, Healthcare & Life Sciences is projected to grow at the highest CAGR during the forecast period
The Healthcare and Lifesciences is experiencing a surge in the adoption of risk analytics due to a confluence of factors. Healthcare providers and life sciences companies wants to ensure the safety and well-being of patients. Risk analytics helps in identifying potential risks to patient safety, such as medication errors, adverse events, and medical device failures. The healthcare and life sciences industries are heavily regulated, with strict guidelines for patient care, data privacy, drug development, and clinical trials. Risk analytics helps organizations ensure compliance with these regulations by identifying and mitigating risks of non-compliance.  Healthcare organizations and life sciences companies also face financial risks associated with fraud, billing errors, revenue cycle management, and reimbursement challenges. Risk analytics helps in detecting anomalies and optimizing financial processes to mitigate these risks.
Asia Pacific is expected to grow at the highest CAGR during the forecast period
The Asia-Pacific (APAC) region is experiencing rapid growth in the Risk Analytics Market, boasting the highest Compound Annual Growth Rate (CAGR). This surge is primarily attributed to rising demand for data-driven decision-making solutions, expanding digital transformation initiatives across industries.. Moreover, the region’s favorable regulatory environment, growing investments in big data analytics, and the integration of advanced technologies like the Internet of Things (IoT) further propel APAC’s dominance in Risk Analytics Market growth.
Top Key Companies in Risk Analytics Market:
The major risk analytics software and service providers include IBM (US), SAS Institute (US), Oracle (US), FIS(US), Moody’s Analytics (US), ProcessUnity(US), ServiceNow (US), Marsh (US), Aon (UK), MetricStream (US), Resolver (Canada), SAP (Germany), Milliman(US), LogicManager(US), Provenir(US), SAI360(US), Deloitte(UK), OneTrust(US), Diligent(US), Alteryx(US), CRISIL(India), Archer(US), ZestyAI(US), Fusion Risk Management(US), RiskVille(Ireland), SPIN Analytics(UK), Kyvos Insights(US), Imperva(US), Cirium(UK), Quantexa(UK), ClickUp(US), Sprinto(US), Ventiv(US), Adenza(US), Centrl.AI(Canada), SafetyCulture(Australia), Quantifi(US), CubeLogic(UK), Onspring(US), Riskoptics(US). These companies have used both organic and inorganic growth strategies such as product launches, acquisitions, and partnerships to strengthen their position in the Risk Analytics Market.
Recent Developments:
In March 2024, Orcale announced Oracle Risk Management Cloud in Release 24B. It offers comprehensive solution designed to help organizations identify, assess, and mitigate risks across their business operations. It offers advanced analytics, automation, and collaboration tools to streamline risk management.In March 2024, FIS Global announces card fraud detection capabilities leveraging artificial intelligence (AI) with aim to bolster FIS’s ability to identify and prevent fraudulent transactions, providing greater security for cardholders and financial institutions alike.In March 2024, Aon acquired an AI-powered platform to assist fleet and mobility clients in making data-driven decisions, enhancing operational efficiency and risk management. The platform utilizes artificial intelligence to analyze data and provide insights, enabling clients to optimize their fleet operations and improve decision-making processes.In March 2024, Crisp joined Resolver, with the aim to enhance Resolver’s risk intelligence capabilities by integrating Crisp’s expertise and technology into its platform, offering clients improved risk assessment and mitigation tools.In February 2024, SAS partnered with Carahsoft to bring analytics, AI, and data management solutions to the public sector. The aim is to leverage SAS’s expertise in advanced analytics and Carahsoft’s extensive government market reach to offer tailored solutions that enable public sector organizations to harness the power of data for informed decision-making and improved outcomes.Inquire Before Buying@ https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=210662258
Risk Analytics Market Advantages:
By offering insights into potential risks, opportunities, and trends, risk analytics helps organisations make data-driven decisions that improve strategic planning and resource allocation.In order to improve risk management procedures and lessen exposure to possible threats, risk analytics solutions assist businesses in identifying, evaluating, and mitigating risks across a range of business activities, including finance, operations, and compliance.Through real-time monitoring and anomaly detection made possible by risk analytics, organisations may proactively address shifting market situations, legal requirements, and cybersecurity threats.Risk analytics solutions assist organisations lower operating costs, increase productivity, and streamline compliance activities, which results in cost savings and resource optimisation. They do this by streamlining risk management procedures and automating routine work.Accurate risk assessments, audit trails, and reporting capabilities are just a few of the ways that risk analytics solutions help organisations comply with regulations and stay out of trouble.Organisations can enhance their resilience and competitiveness by anticipating and mitigating potential hazards before they materialise through the use of predictive modelling and advanced analytics approaches in risk analytics.Report Objectives
To define, describe, and predict the Risk Analytics Market by offering, risk type, risk stages, vertical, and regionTo provide detailed information about the major factors (drivers, restraints, opportunities, and challenges) influencing the market growthTo analyze the opportunities in the market and provide details of the competitive landscape for stakeholders and market leadersTo forecast the market size of segments with respect to five main regions: North America, Europe, Asia Pacific, Middle East & Africa, and Latin AmericaTo profile the key players and comprehensively analyze their market rankings and core competenciesTo analyze the competitive developments, such as partnerships, product launches, and mergers & acquisitions, in the Risk Analytics MarketBrowse Adjacent Markets: Analytics Market Research Reports & Consulting
Related Reports:
Customer Data Platform Market – Global Forecast to 2028
Speech Analytics Market- Global Forecast to 2029
Text to Video AI Market – Global Forecast to 2027
Contact Center Analytics Market- Global Forecast to 2027
Procurement Analytics Market- Global Forecast to 2026
About MarketsandMarkets™
MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.
Contact:Mr. Aashish MehraMarketsandMarkets™ INC.630 Dundee RoadSuite 430Northbrook, IL 60062USA: +1-888-600-6441Email: [email protected] Insight: https://www.marketsandmarkets.com/ResearchInsight/risk-analytics-market.aspVisit Our Website: https://www.marketsandmarkets.com/Content Source: https://www.marketsandmarkets.com/PressReleases/risk-analytics.asp
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Robotic Palletizer Market worth $1.9 billion by 2029 – Exclusive Report by MarketsandMarkets™

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April 19, 2024

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robotic-palletizer-market-worth-$1.9-billion-by-2029-–-exclusive-report-by-marketsandmarkets™

CHICAGO, April 19, 2024 /PRNewswire/ — The robotic palletizer market is projected to grow from USD 1.4 billion in 2024 and is expected to reach USD 1.9 billion by 2029, growing at a CAGR of 5.9% from 2024 to 2029 according to a new report by MarketsandMarkets™. Rising awareness towards workplace safety and reducing the risk of work-related injuries to drive the market. Robotic palletizers significantly enhance workplace safety and reduce the risk of work-related injuries and associated costs. By automating repetitive tasks like palletizing, businesses can redeploy their human workforce to higher-value activities that require human skills like problem-solving, critical thinking, and customer interaction. This allows them to optimize their workforce and leverage human capabilities more effectively.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=251064253
Browse in-depth TOC on “Robotic Palletizer Market” 100 – Tables60 – Figures200 – Pages
Robotic Palletizer Market Report Scope:
Report Coverage
Details
Market Revenue in 2024
$ 1.4 billion
Estimated Value by 2029
$ 1.9 billion
Growth Rate
Poised to grow at a CAGR of 5.9%
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 Component, Robot Type, Application, End-use Industry and Region
Geographies Covered
North America, Europe, Asia Pacific, and Rest of World
Key Market Challenge
High initial investment cost
Key Market Opportunities
Increasing application in small and medium-sized enterprises
Key Market Drivers
Growing labor shortage and need for workforce optimization
 
Collaborative robots in the robot type segment are expected to witness higher growth rate during the forecast period.
Collaborative robots are expected to witness a higher CAGR during the forecast period. Unlike traditional industrial robots that often require physical barriers or cages to protect human workers, cobots are equipped with advanced safety features, such as force and torque sensors, collision detection, and speed monitoring. These features enable cobots to operate safely in proximity to humans without posing significant risks of injury.
The Pharmaceutical segment in the robotic palletizer market is expected to witness highest growth rate during the forecast period.
Pharmaceutical products are subject to strict regulations regarding storage, handling, and quality control. Robotic palletizers play a crucial role in providing greater precision and consistency in palletizing tasks and minimizing the risk of contamination within pharmaceutical manufacturing facilities. It also reduces human intervention in the handling and stacking of products and helps mitigate the potential for cross-contamination and ensures adherence to strict hygiene standards.
End-of-Arm- Tooling (EOAT) component is expected to witness the highest CAGR in the robotic palletizer market during the forecast period.
End-of-arm tooling (EOAT) is a crucial element of a robotic arm system, especially in applications like robotic palletizing, where the robot needs to interact with various objects or products. EOAT essentially acts as the hand of the robotic arm, designed to securely grasp, lift, and place boxes or cases onto pallets. Overall, EOAT plays a vital role in the effectiveness of robotic palletizers as it ensures secure handling of products, efficient palletizing patterns, and smooth operation of the entire system.
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North America is expected to hold the largest share of the robotic palletizer industry during the forecast period.
North America is home to major automobile and retail companies, which has accelerated the demand for robotic palletizers in this region. Additionally, the rise in manufacturing activity, fueled by plans for reshoring and technological improvements, has further driven the need for robotic palletizers. In North America, certain government funds are available to increase workplace safety. In 2023, the Occupational Safety and Health Administration announced a grant of approximately USD 12.7 million to 100 non-profit organizations across the nation to provide education and training for workers and employers about recognizing workplace hazards, injury prevention, and understanding workers’ rights and employers’ responsibilities under federal law. Businesses that use robotic palletizers may be eligible for funding as they lower the risk of worker injuries from manual lifting.
Key Players
Leading players in the robotic palletizer companies include FANUC CORPORATION (Japan), KION GROUP AG (Germany), KUKA AG (Germany), ABB (Switzerland), and Krones AG (Germany). Schneider Packaging Equipment Company, Inc. (US), Honeywell International Inc. (US), Kaufman Engineered Systems (US), Concetti S.p.A. (Italy), Sidel (France), Brenton, LLC. (US), A-B-C Packaging Machine Corporation (US), Antenna Group (Italy), BEUMER GROUP (Germany), Brillopak (UK), BW Integrated Systems (US), Columbia Machine, Inc. (US), Euroimpianti S.p.A. (Italy),  Fuji Yusoki Kogyo Co., Ltd. (Japan), HAVER & BOECKER OHG (Germany), KHS Group (Germany), MMCI  (US), Okura Yusoki Co., Ltd. (Japan), Rothe Packtech Pvt. Ltd. (India),  and S&R Robot Systems, LLC. (US) are few other key companies operating in the robotic palletizer market.
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Browse Adjacent Market: Semiconductor and Electronics Market Research Reports & Consulting
Related Reports: 
Palletizer Market Size, Share, Statistics and Industry Growth Analysis Report by Technology (Conventional, Robotic), Product Type (Bags, Boxes and Cases, Pails and Drums), Industry (Food & Beverages, Chemicals, Pharmaceuticals, Cosmetics & Personal Care, E-commerce and Retail) & Region – Global Growth Driver and Industry Forecast to 2029
Autonomous Mobile Robots Market by Offering (Hardware, Software and Services), Payload Capacity (500 kg), Navigation Technology (Laser/LiDAR, Vision Guidance), Industry (Manufacturing, Retail, E-commerce) – Global Forecast to 2028
Automated Guided Vehicle Market Size, Share, Industry, Statistics & Growth by Type (Tow Vehicles, Unit Load Carriers, Forklift Trucks, Assembly Line Vehicles, Pallet Trucks), Navigation Technology (Laser Guidance, Magnetic Guidance, Vision Guidance), Industry, Region – Global Forecast to 2028
Automated Storage and Retrieval System Market by Function (Storage, Distribution, Assembly), Type (Unit Load, Mini Load, Vertical Lift Module, Carousel, Mid Load), Vertical (Automotive, Food & Beverages, E-Commerce, Retail) – Global Forecast to 2028
Automated Material Handling Equipment Market Size, Share, Statistics and Industry Growth Analysis Report by Product (Robots, ASRS, Conveyors And Sortation Systems, Cranes, WMS, AGV), System Type (Unit Load, Bulk Load), Industry (Automotive, E-Commerce, Food & Beverage) and Region – Global Forecast to 2028
About MarketsandMarkets™
MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.
Contact: Mr. Aashish MehraMarketsandMarkets™ INC. 630 Dundee RoadSuite 430Northbrook, IL 60062USA: +1-888-600-6441Email: [email protected] Our Web Site: https://www.marketsandmarkets.com/Research Insight: https://www.marketsandmarkets.com/ResearchInsight/robotic-palletizer-companies.aspContent Source: https://www.marketsandmarkets.com/PressReleases/robotic-palletizer.asp
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