Artificial Intelligence
LECTRA: 2021- very strong increase in revenues and earnings thanks to the rebound in activity and the acquisition of Gerber Technology
2021: very strong increase in revenues and earnings thanks to the rebound in activity and the acquisition of Gerber Technology
- Revenues: 387.6 million euros (+64%)*
- EBITDA before non-recurring items: 65.1 million euros (+74%)*
- Net income: 28.2 million euros (+61%)*
- Free cash flow before non-recurring items: 47.5 million euros
- Dividend**: €0.36 per share (+50%)
* At actual exchange rates
** Proposed to the Annual Shareholders’ Meeting on April 29, 2022
| In millions of euros | October 1 – December 31 | January 1 – December 31 | ||
| 2021 | 2020 | 2021 | 2020 | |
| Revenues | 125.6 | 65.6 | 387.6 | 236.2 |
| Change at actual exchange rates (%) | +91% | +64% | ||
| EBITDA before non-recurring items(1) | 21.8 | 13.1 | 65.1 | 37.5 |
| Change at actual exchange rates (%) | +66% | +74% | ||
| EBITDA margin before non-recurring items (in % of revenues) |
17.3% | 20% | 16.8% | 15.9% |
| Net income | 11.4 | 6.6 | 28.2 | 17.6 |
| Change at actual exchange rates (%) | +74% | +61% | ||
| Free cash flow before non-recurring items(1) | 13.9 | 15.2 | 47.5 | 25.2 |
| Shareholders’ equity(2) | 400.8 | 192.2 | ||
| Net cash (+) / Net financial debt (-)(1) (2) | (8.8) | 134.6 | ||
- The definition for performance indicators appears in the Management Discussion of December 31, 2021
- At December 31
Paris, February 9, 2022. Today, Lectra’s Board of Directors, chaired by Daniel Harari, reviewed the consolidated financial statements for the fiscal year 2021. Audit procedures have been performed by the Statutory Auditors. The certification report will be issued at the end of the Board of Director’s meeting of February 23, 2022.
These financial statements incorporate the acquisitions of Gerber Technology (“Gerber”), consolidated since June 1, 2021, Neteven, since July 28, 2021, and Gemini CAD Systems (“Gemini”), since September 27, 2021. Lectra’s results before taking into account these acquisitions are provided in the “Lectra 2020 scope” paragraphs, in which comparisons between 2021 and 2020 are like-for-like.
1. Q4 2021
Q4 2021 revenues (125.6 million euros) were up 91% compared to Q4 2020.
EBITDA before non-recurring items totaled 21.8 million euros, up 66%, and the EBITDA margin before non-recurring items was 17.3%.
Income from operations before non-recurring items amounted to 14.8 million euros (10 million euros in
Q4 2020) and net income totaled 11.4 million euros (+74%).
Lectra 2020 scope
Q4 confirmed the positive dynamic observed since the beginning of 2021.
Orders for perpetual software licenses, equipment and accompanying software, and non-recurring services (32.9 million euros) were up 16% compared to Q4 2020. The annual value of new software subscription orders amounted to 1.8 million euros (+57%).
Revenues (76.2 million euros) increased by 13% and income from operations before non-recurring items (11.9 million euros) increased by 5%.
2. 2021
Acquisitions of Gerber, Neteven and Gemini
On February 8, 2021, Lectra announced having entered into a Memorandum of Understanding to acquire the entire capital and voting rights of the US-based company Gerber Technology. It then announced, on June 1, 2021, having finalized this acquisition.
The Company then finalized on July 28, 2021, the acquisition of the French company Neteven, and finally announced on September 6, 2021, the signature of an agreement to acquire the entire capital and voting rights of the Romanian company Gemini (the press releases related to these acquisitions are available on the website Lectra.com).
If Lectra had completed the acquisitions of Gerber, Neteven and Gemini on January 1, 2021, then the Group would have reported pro forma revenues of 468 million euros, pro forma EBITDA before non-recurring items of 73 million euros, and a pro forma EBITDA margin before non-recurring items of 15.6%.
Very strong growth in results in a more favorable environment, but one that remains heterogeneous and uncertain
While activity and results for the full year 2021 reflected a rebound in activity and investment decisions by customers, along with successful deployment of the Group’s new offers, the year remained marked by the consequences of the COVID-19 crisis, with periods of lockdowns and restrictions, often severe restrictions, alternating with periods of recovery, during the successive waves of the pandemic. The situation sustained a climate of uncertainty for the Group’s customers.
The crisis has also led to supply difficulties and rising costs of certain raw materials, which affected the Group’s manufacturing schedules and costs. It had a strongly negative impact on maritime transport, which caused delays in deliveries and sharply higher corresponding costs. In 2021, however, the Group has been able to limit the impact of these disruptions on its business and results.
Shortages of electronic components had a negative impact on production by the Group’s automotive customers and, consequently, on the revenue from consumables and parts.
Revenues of 2021 (387.6 million euros) were up 64%. EBITDA before non-recurring items (65.1 million euros) increased by 74%, and the EBITDA margin before non-recurring items was 16.8%.
Gerber (since June 1), Neteven (since July 28) and Gemini (since September 27) have contributed 106.6 million euros, 1.4 million euros and 0.5 million euros to revenues, respectively. Gerber’s contribution to EBITDA before non-recurring items was positive 13.3 million euros, Neteven’s and Gemini’s contribution was 0.2 million euros overall.
Consolidated income from operations before non-recurring items totaled 44.4 million euros. This included a 6-million-euro charge for amortization of intangible assets arising from the acquisitions of Gerber, Neteven and Gemini.
After a non-recurring net charge of 6.1 million euros for fees and other income and expense items relating to the acquisition of Gerber, income from operations amounted to 38.3 million euros.
Net income (28.2 million euros) was up 61%.
Free cash flow before non-recurring items came to 47.5 million euros (25.2 million euros in 2020). This sharp rise is attributable mainly to the improvement in business activity and higher income from operations. After disbursement of 8 million euros, in respect of fees and other related expenses in connection with the acquisition of Gerber, free cash-flow amounted to 39.5 million euros.
Balance sheet at December 31, 2021
Consolidated shareholders’ equity amounted to 400.8 million euros (192.2 million euros at December 31, 2020). This increase is explained mainly by the capital increase carried out for the purpose of the acquisition of Gerber in the total amount of 165.3 million euros.
At December 31, 2021, the Group’s net financial debt stood at 8.8 million euros, consisting in financial debt of 139.4 million euros and available cash of 130.6 million euros.
The working capital requirement at December 31, 2021 was a negative 31.5 million euros.
Lectra 2020 scope
Orders for perpetual software licenses, equipment and accompanying software, and non-recurring services (117.8 million euros) increased by 44%. The annual value of new software subscription orders (6.1 million euros) more than doubled compared to 2020.
Revenues (279.1 million euros) increased by 19% (+18% at actual exchange rates) compared to those of 2020, which had suffered the effects of the health crisis.
Revenues from perpetual software licenses, equipment and accompanying software, and non-recurring services (107.6 million euros) increased by 40%, those from recurring contracts (102.9 million euros) by 4% and those from consumables and parts (68.6 million euros) by 18%.
Income from operations before non-recurring items (40 million euros) increased by 61% compared to 2020 (+56% at actual exchange rates) and the operating margin before non-recurring items (14.3%) was up 3.8 percentage points (+3.4 percentage points at actual exchange rates).
3. 2020-2022 STRATEGIC ROADMAP: SECOND PROGRESS REPORT
The Lectra 4.0 strategy was launched in 2017 with the aim of positioning the Group as a key Industry 4.0 player in its markets before 2030. It has been implemented to date through two consecutive strategic roadmaps.
The first roadmap, for 2017-2019, established the key fundamentals for the future of the Group, notably the successful integration into its new offers of the key technologies for Industry 4.0 (cloud computing, the Internet of Things, big data and artificial intelligence), the strengthening of the Executive Committee, the reorganization of subsidiaries into four main regions, and the launch of the first software offers in SaaS mode.
The second roadmap, for 2020-2022, was published in the financial report dated February 11, 2020. It is designed to enable Lectra to capture the full potential of its new offers for Industry 4.0, while delivering sustainable, profitable business growth.
Despite the consequences of the economic crisis caused by the COVID-19 pandemic, the objectives of the 2020-2022 strategic roadmap remain unchanged. The only adjustments to the original objectives are in the growth targets for the end of the three-year period – notably following the acquisition by Lectra of Gerber, Neteven, and Gemini.
The Lectra 4.0 strategy, and each of the main chapters in the strategic roadmap for 2020-2022, are summarized in the financial report at December 31, 2021, which is available on Lectra.com.
The financial objectives that the Group set itself for 2022 are provided in the “Outlook” chapter of this press release.
4. DIVIDEND AT €0.36 PER SHARE
The Board of Directors will propose to the Shareholders’ Meeting of April 29, 2022, the payment of a dividend at €0.36 per share in respect of fiscal year 2021.
5. OUTLOOK
While uncertainties persist regarding the evolution of the pandemic and its impacts on the macroeconomic environment (e.g., inflation, difficulties in the automotive industry, and transportation costs), and could continue to weigh on investment decisions by the Group’s customers, still the rebound in orders and in earnings recorded in 2021 have confirmed the relevance of Lectra’s strategy and the strength of its business model.
The acquisitions made in 2021, and particularly the acquisition of Gerber, give the Group a new dimension and open new perspectives.
At the same time, the new offers for Industry 4.0 are increasingly contributing to revenues and earnings.
Finally, the very strong balance sheet, with shareholders’ equity of 400 million euros and net financial debt held at 9 million euros at December 31, 2021, enables the Group to implement its long-term strategy in a serene manner.
Financial objectives for 2022
In the February 8, 2021, announcement of Lectra’s proposal to acquire Gerber, the Group reported on the 2022 financial objectives for the combined entity: returning to the level of combined revenue achieved by Lectra and Gerber in 2019 (482 million euros) and generating an EBITDA margin before non-recurring items in the range of 17% to 20% by adding the expected synergies to the operational performance of the two groups.
Lectra subsequently acquired Neteven and Gemini, the rebound in activity in 2021 was greater than the Group expected, and the dollar strengthened against the euro.
In light of the above, the Group has raised its objectives for 2022, with revenues in the range of 508 to 556 million euros (+ 31% to + 43% at actual exchange rates) and EBITDA before non-recurring items in the range of 92 to 104 million euros (+ 41% to + 60% at actual exchange rates).
These objectives were prepared on the basis of the closing exchange rates on December 31, 2021, and particularly $1.13 to the euro.
The Management Discussion and Analysis of Financial Conditions and Results of Operations and the financial statements for Q4 and the fiscal year 2021 are available on lectra.com. First quarter earnings for 2022 will be published on April 28, 2022. The Annual Shareholders’ Meeting will take place on April 29, 2022.
For companies that breathe life into our wardrobes, car interiors, furniture and more, Lectra crafts the premium technologies that facilitate the digital transformation of their industry. Lectra’s offer empowers brands, manufacturers and retailers from design to production, providing them with the market respect and peace of mind they deserve. Founded in 1973, the company reported revenues of 388 million euros in 2021 and is listed on Euronext (LSS).
In June 2021, Lectra acquired Gerber Technology, a USA-based company founded in 1968. Like Lectra, Gerber Technology develops software and automation solutions for fashion, automotive, furniture and other businesses across the globe.
For more information, please visit www.lectra.com.
Lectra – World Headquarters: 16–18, rue Chalgrin • 75016 Paris • France
Tel. +33 (0)1 53 64 42 00 – www.lectra.com
A French Société Anonyme with capital of €37,742,959 • RCS Paris B 300 702 305
Attachment
Artificial Intelligence
Internet of Things (IoT) in Smart Cities Market: Driving Adoption for a USD 795.98 Billion Future by 2031| SkyQuest Technology
WESTFORD, Mass., July 5, 2024 /PRNewswire/ — According to SkyQuest, the global Internet of Things (IoT) in Smart Cities Market size was valued at USD 148.60 billion in 2022 poised to grow from USD 179.06 billion in 2023 to USD 795.98 billion by 2031, growing at a CAGR of 20.5% in the forecast period (2024-2031).
The innovative IoT based smart city solutions are increasing the demand in various sectors. These solutions include analytics, security, cloud, and network connectivity. One of the major drivers of market expansion in smart cities is the rise of government initiatives and smart city projects. Growth in the use of IoT technologies for control and monitoring is expected to drive the market. High urban population density contributes to the growth. IoT devices, sensors and data analytics are all integrated into the concept of “smart cities” to enhance urban growth, efficiency and sustainability.
Download a detailed overview:
https://www.skyquestt.com/sample-request/internet-of-things-in-smart-cities-market
Internet of Things (IoT) in Smart Cities Market Overview:
Report Coverage
Details
Market Revenue in 2023
USD 179.06 billion
Estimated Value by 2031
USD 795.98 billion
Growth Rate
Poised to grow at a CAGR of 20.5%
Forecast Period
2024–2031
Forecast Units
Value (USD Billion)
Report Coverage
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered
Offering and Application
Geographies Covered
North America, Europe, Asia Pacific, Middle East & Africa, Latin America
Report Highlights
Updated financial information / product portfolio of players
Key Market Opportunities
Evolving IoT Technology and Urban Transformation
Key Market Drivers
Rise in Adoption of IoT Technology
Segments covered in Internet of Things (IoT) in Smart Cities Market are as follows:
OfferingSolutions (Remote Monitoring, Real Time Location System, Data Management, Reporting and Analytics, Security, Network Management), And Services (Professional Services {Consulting, System Integration and Deployment, Support and Maintenance}, And Managed Services)ApplicationSmart Transportation, Smart Building, Utilities, Citizen Services (Education, Healthcare, Public Safety)Request Free Customization of this report:
https://www.skyquestt.com/speak-with-analyst/internet-of-things-in-smart-cities-market
Smart Infrastructure: IoT Offerings Shaping Tomorrow’s Cities
The solutions segment accounted for the largest share and dominate the market. The global internet of things (IoT) in smart cities market offers practical innovative solutions focused on integrated information that stores, processes and acts on large amounts of data generated by networked devices for real-time location system optimization and remote monitoring facilitates better monitoring and faster response.
On the other hand, the services segment of the global market is expected to grow the fastest in the smart city market. First, the challenges of adopting IoT solutions are increasing the need for consulting, integration and managed services, which require specialized skills. Second, cities depend on them tasks are raised to build, deploy and control customized solutions while aiming to maximize the value of IoT systems.
View report summary and Table of Contents (TOC):
https://www.skyquestt.com/report/internet-of-things-in-smart-cities-market
Transforming Urban Living: IoT Applications in Smart Cities
Real-time traffic management, predictive maintenance, and advanced public transport planning enabled by communication technologies and data analytics are the main areas of current innovation and applications in smart transportation in the world. There is scarcity of resources, pollution and traffic, and increased accessibility and security. Transportation is the largest segment in the global market by application.
In the market, public sector service centers are expected to grow rapidly due to the global IoT’s ability to improve lives for its inhabitants. It provides smart classrooms by academically enhancing the learning experience. IoT in healthcare enables smarter, more efficient and more efficient patient management, thus contributing to market expansion. It also provides comprehensive surveillance systems and emergency response measures that affect public safety. They have the potential to improve urban growth, efficiency and quality of life. Growing growth in IoT technology and public safety concerns are driving the rapid growth of the segment.
Smart Cities, Smarter Future: The Role of IoT
The Internet of Things (IoT) is changing the way smart cities work, offering unprecedented connectivity and integration. As cities become more connected, the use of IoT technology seamless integration becomes increasingly important in a sustainable environment. These connected devices and sensors can collect and analyze data in real time, allowing for more informed decision making.
Related Reports:
Internet Of Things (IoT) Market
IoT Security Market
Narrowband-IoT (NB-IoT) Market
Consumer IoT Market
Internet of Things (IoT) Professional Services Market
About Us:
SkyQuest is an IP focused Research and Investment Bank and Accelerator of Technology and assets. We provide access to technologies, markets and finance across sectors viz. Life Sciences, CleanTech, AgriTech, NanoTech and Information & Communication Technology.
We work closely with innovators, inventors, innovation seekers, entrepreneurs, companies and investors alike in leveraging external sources of R&D. Moreover, we help them in optimizing the economic potential of their intellectual assets. Our experiences with innovation management and commercialization has expanded our reach across North America, Europe, ASEAN and Asia Pacific.
Contact:Mr. Jagraj SinghSkyquest Technology1 Apache Way,Westford,Massachusetts 01886USA (+1) 351-333-4748Email: [email protected] Our Website: https://www.skyquestt.com/
Logo: https://mma.prnewswire.com/media/2446095/SkyQuest_Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/internet-of-things-iot-in-smart-cities-market-driving-adoption-for-a-usd-795-98-billion-future-by-2031-skyquest-technology-302189928.html
Artificial Intelligence
Cloud Security Market Will Surpass USD 147.45 Billion by 2031; Rise of Cloud Computing to Aid Growth| SkyQuest Technology
WESTFORD, Mass., July 5, 2024 /PRNewswire/ — According to SkyQuest, the global Cloud Security Market size was valued at USD 33.5 billion in 2022 and is poised to grow from USD 39.5 billion in 2023 to USD 147.45 billion by 2031, growing at a CAGR of 17.9% in the forecast period (2024-2031).
Increase in complexity of cyberattacks and data breaches has bolstered the demand for novel cloud security solutions around the world. The rising use of cloud technologies and platforms on a global level is also boosting the cloud security market growth. The high use of cloud computing and edge computing services by multiple organizations also creates a high demand for better cloud security infrastructure. The global cloud security market is segmented into type, service model, offering, end user, and region.
Download a detailed overview:https://www.skyquestt.com/sample-request/cloud-security-market
Cloud Security Market Overview:
Report Coverage
Details
Market Revenue in 2023
USD 39.5 billion
Estimated Value by 2031
USD 147.45 billion
Growth Rate
Poised to grow at a CAGR of 17.9%
Forecast Period
2024–2031
Forecast Units
Value (USD Billion)
Report Coverage
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered
Type, Service Model, End-User and Offering
Geographies Covered
North America, Europe, Asia Pacific, Middle East & Africa, Latin America
Report Highlights
Updated financial information / product portfolio of players
Key Market Opportunities
Digital Transformation Fortifying Cloud Security with AI and ML
Key Market Drivers
Rising demand for Cloud Computing and Cybersecurity through Advanced Data Solutions
Segments covered in Cloud Security Market are as follows:
TypeLegal Issues, Compliance, Governance, Virtualization, Data Security, Interface, Network SecurityService ModelSaaS (Software as a Service), IaaS (Infrastructure as a Service), PaaS (Platform as a Service)End-UserAerospace & Defence, Government, BFSI, Healthcare, IT, Telecommunication, Manufacturing, Retail, Energy & Utilities, Media & Entertainment, OthersOfferingSolutions, ServicesRequest Free Customization of this report:https://www.skyquestt.com/speak-with-analyst/cloud-security-market
Compliance to Remain a Key Cloud Security Concern for All Companies through 2031
Compliance has always been a key part of any security solution and the same is also true for cloud security as well. Regulatory bodies and governments have been implementing stricter laws and mandates to ensure the safety of data on cloud platforms. Ensuring compliance with these norms is essential for any cloud service provider, which is why a security solution that understands and manages compliance is always in demand. Ensuring cross-border compliance could help cloud security companies get more bang for their buck in the future.
Legal issues and data privacy concerns are also estimated to drive up the demand for novel cloud security solutions. Complex legal and regulatory frameworks are also contributing to the high adoption of cloud security with legal security features as well. Data and network security are also important aspects that cloud security providers need to emphasize going forward.
Cloud security Solutions to Remain Essential Securing a Cloud Environment
Cloud security solutions powered by artificial intelligence and other advanced technologies are being developed around the world. Deployment of different solutions for enterprise and individual cloud applications will also create new opportunities for cloud security market players over the coming years. Data loss prevention and disaster recovery are some key features of cloud security solutions that most companies are trying to improve. Meanwhile, the rapid adoption of cloud security is also creating a high demand for cloud security services as well. Cloud security providers are continually focusing on improving their services by offering round-the-clock support and predictive threat management services.
View report summary and Table of Contents (TOC):https://www.skyquestt.com/report/cloud-security-market
High Use of Cloud Platforms and Technologies in the IT Industry Creates an Opportune Setting for Cloud Security Vendors
The information technology (IT) industry has always led the adoption of novel technologies and the cloud is one of them. The rising use of cloud platforms and migration of traditional technologies in cloud environments are boosting the demand for cloud security in the IT industry. The BFSI industry will also offer new moneymaking scope for cloud security providers as it moves towards digitization and the incidence of digital frauds increases. Telecommunication end users are also expected to bolster the demand for novel cloud security solutions as they utilize cloud technology to become digital service providers. Adoption of automation and smart manufacturing practices in the manufacturing space will also promote the use of cloud platform, which in turn, is expected to boost cloud security demand as well.
Cloud security companies have a lot of potential to expand their business in many industry verticals. New companies can focus on providing services to build a strong market presence and then move on to making cloud security solutions to compete with the leading market players.
Related Report:
Cyber Security Market
Network Security Market
Endpoint Security Market
Managed Security Services Market
Application Security Market
About Us:
SkyQuest is an IP focused Research and Investment Bank and Accelerator of Technology and assets. We provide access to technologies, markets and finance across sectors viz. Life Sciences, CleanTech, AgriTech, NanoTech and Information & Communication Technology.
We work closely with innovators, inventors, innovation seekers, entrepreneurs, companies and investors alike in leveraging external sources of R&D. Moreover, we help them in optimizing the economic potential of their intellectual assets. Our experiences with innovation management and commercialization has expanded our reach across North America, Europe, ASEAN and Asia Pacific.
Contact:Mr. Jagraj SinghSkyquest Technology1 Apache Way,Westford,Massachusetts 01886USA (+1) 351-333-4748Email: [email protected] Our Website: https://www.skyquestt.com/
Logo: https://mma.prnewswire.com/media/2446095/SkyQuest_Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/cloud-security-market-will-surpass-usd-147-45-billion-by-2031-rise-of-cloud-computing-to-aid-growth-skyquest-technology-302189958.html
Artificial Intelligence
Application Security Market to Surpass USD 17.51 Billion by 2031; Rising Incidence of Cyberattacks to Drive Market | SkyQuest Technology
WESTFORD, Mass., July 5, 2024 /PRNewswire/ — According to SkyQuest, the global Application Security Market size was valued at USD 5.28 Billion in 2022 and is poised to grow from USD 6.08 Billion in 2023 to USD 17.51 Billion by 2031, growing at a CAGR of 14.14 % during the forecast period (2024-2031).
High reliance on applications and growing digitization around the world are key factors that promote the demand for application security. Increasing sophistication and frequency of cyberattacks on a global scale is also predicted to augment the application security market growth trajectory across the forecast period. The imposition of stringent safety mandates by regulatory bodies is also bolstering the demand for better application security solutions. The global application security market is segmented into component, deployment mode, organization size, vertical, and region.
Download a detailed overview:
https://www.skyquestt.com/sample-request/application-security-market
Application Security Market Overview:
Report Coverage
Details
Market Revenue in 2023
USD 6.08 billion
Estimated Value by 2031
USD 17.51 billion
Growth Rate
Poised to grow at a CAGR of 14.14%
Forecast Period
2024–2031
Forecast Units
Value (USD Billion)
Report Coverage
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered
Type, Component, Deployment Model, Organization Size and Verticals
Geographies Covered
North America, Europe, Asia Pacific, Middle East & Africa, Latin America
Report Highlights
Updated financial information / product portfolio of players
Key Market Opportunities
Increased Number of Sophisticated Attacks
Key Market Drivers
The Rising Demands for Regulatory Compliance within Solution
Segments covered in Application Security Market are as follows:
TypeWeb Application Security, and Mobile Application SecurityComponentSolutions (Security Testing Tools (Static Application Security Testing (SAST), Dynamic Application Security Testing (DAST), Interactive Application Security Testing (IAST), Runtime Application Self-Protection (RASP)) Container Security, API Security, and Others Solution), and Services (Professional Services, (Consulting services, Training & Education, Integration and maintenance, Penetration Testing) Managed Services)Deployment ModeCloud and on-premisesOrganization SizeLarge Enterprises, and Small & Medium EnterprisesVerticalsBFSI, Healthcare, IT & ITES, Telecommunication, Manufacturing, Government and Public Sector, Retail & E-commerce, Education, and OthersRequest Free Customization of this report:
https://www.skyquestt.com/speak-with-analyst/application-security-market
On-premises Deployment of Application Security Solutions is Preferred for its Better Control and Flexibility
On-premises application security solutions and systems are usually handled by a company’s own employees, and this is why they are somewhat safer from cyberattacks or breaches. Little to no involvement of external personnel in the management and operation of on-premises application security is what gives the users and organizations the satisfaction of a better-secured application. Large enterprises are more inclined to opt for such solutions as this requires substantial capital investment and commitment over the long term.
Most application security companies are projected to target cloud deployment owing to rising awareness and acceptance of cloud technologies and platforms. Advancements in cloud computing technologies and the high emphasis of organizations on improving resource utilization are predicted to favor the demand for cloud-based application security solutions in the future.
View report summary and Table of Contents (TOC):
https://www.skyquestt.com/report/application-security-market
Large Enterprises More Inclined to opt for Application Security Solutions Owing to Their High Spending Capacity
Large enterprises use a variety of applications to ensure their operations and infrastructure run as intended. This includes third-party apps as well as internal company applications. The security of these applications is the priority as any lapses in them could lead to devastating data breaches and cyberattacks. Rising spending on large enterprises on improving their cybersecurity and specialized emphasis on application security is also making this segment an important one for application security providers. Small and medium enterprises (SMEs) are also expected to create new opportunities for application security companies in the future as application security becomes more affordable and important.
Software Tools to Remain Quintessential in Creating and Managing Application Security
Application security testing software is a key segment where almost all application security companies are focusing. Ensuring proper testing of application security is an essential task and any lapses in this could lead to vulnerabilities in applications that hackers can exploit. Multiple testing tools and testing approaches are being explored to ensure the efficacy of application security solutions.
Dynamic Application Security Testing (DAST) is gaining massive popularity around the world and all application security companies are trying to take this approach to maximize the security of their offerings. Investing in application security testing tools will never be a bad choice for any company looking to make a mark in the global application security market going forward.
Application security providers need to stay updated with new threats and incorporate the same in their products to stay relevant in the market. Investments in development of new application security solutions with advanced technologies and features should be the focus of upcoming as well as established application security market players in the long run.
Related Report:
Cyber Security Market
Blockchain Identity Management Market
Secure Access Service Edge Market
Zero Trust Security Market
Endpoint Security Market
About Us:
SkyQuest is an IP focused Research and Investment Bank and Accelerator of Technology and assets. We provide access to technologies, markets and finance across sectors viz. Life Sciences, CleanTech, AgriTech, NanoTech and Information & Communication Technology.
We work closely with innovators, inventors, innovation seekers, entrepreneurs, companies and investors alike in leveraging external sources of R&D. Moreover, we help them in optimizing the economic potential of their intellectual assets. Our experiences with innovation management and commercialization has expanded our reach across North America, Europe, ASEAN and Asia Pacific.
Contact:
Mr. Jagraj Singh SkyQuest Technology1 Apache Way,Westford,Massachusetts 01886USA (+1) 351-333-4748Email: [email protected] Our Website: https://www.skyquestt.com/
Logo: https://mma.prnewswire.com/media/2446095/SkyQuest_Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/application-security-market-to-surpass-usd-17-51-billion-by-2031-rising-incidence-of-cyberattacks-to-drive-market–skyquest-technology-302189924.html
-
Artificial Intelligence4 days agoConsole Connect Recognized with Frost & Sullivan’s 2024 Global Technology Innovation Leadership Award for Its Outstanding Automation and Blockchain Solutions
-
Uncategorized3 days agoGSA Announces AI-Themed Hackathon
-
Uncategorized3 days ago
ATO Stepping Up AI Capabilities to Be Leader by 2030
-
Artificial Intelligence3 days agoViking Analytics & Bharat Forge signs a 3 year contract
-
Uncategorized3 days ago
Auditchain Labs AG Announces Roll-Out of Pacioli AI for Compliance with MiCA and VARA White Paper Disclosures
-
Uncategorized3 days agoHow Financial Institutions Can Get Their AI Strategy Right
-
Artificial Intelligence4 days agoCreator-first AI x Blockchain Project Animechain.ai Reveals Its White Paper and Participation in IVS Crypto 2024 KYOTO as a Platinum Sponsor
-
Uncategorized3 days ago
AImotive Achieves ISO 26262 ASIL-D Re-Certification for aiSim 5
