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Artificial Intelligence

Parrot: 2022 First-Quarter Business

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  PRESS RELEASE
Paris, May 12, 2022, 7am CET

2022 FIRST-QUARTER BUSINESS

In the first quarter of 2022, the Parrot Group recorded consolidated revenues of €14.4m, up 60% year-on-year based on its reference scope, presented with the 2021 full-year earnings. Focused exclusively on the design, development and marketing of professional civil drone solutions, combining microdrones and image analysis software, the Group is seeing the benefits of its strategy rolled out since the end of 2018, against a backdrop of increased demand for its technologies.

  Revenues (€m and % of revenues) Q1 2022 Q1 2021 Change FY 2021
A Parrot Drones 7.7 54% 4.8 39% +60% 20.9 38%
B Of which, consumer products(2) 0 0% 1.2 9% 6.2 11%
C Pix4D 6.7 46% 5.6 45% +20% 26.2 48%
D Parrot SA 0.1 1% 0.1 1% 0.3 1%
E Intragroup eliminations -0.1 -1% -0.2 -2% -0.8 -2%
F SenseFly (activity divested in October 2021) 2.2 18% 7.7 14%
  CONSOLIDATED PARROT GROUP TOTAL 14.4 100% 12.4 100% +16% 54.3 100%
  NEW SCOPE TOTAL (1) (=A-B+C+D+E) 14.4 100% 9.0 73% +60% 40.4 74%

(1) “New scope total” is a performance indicator reflecting the impact of the strategy rolled out since end-2018. It corresponds to the Parrot Group’s consolidated revenues after deducting revenues from consumer products (see 2) and revenues from the subsidiaries divested (Micasense sold in January 2021, revenues in 2021, and Sensefly SA and Sensefly Inc, sold in October 2021). Note that intragroup eliminations are not reallocated and therefore include a relatively insignificant percentage for sales from the subsidiaries divested.
(2) Consumer products: consumer drones (all ranges), legacy automotive products (car kit, plug & play) and connected devices, for which sales were discontinued in 2021.

Over the period, the Group’s commercial development was marked by:

  • The 60% growth in revenues for microdrones (+58% at constant exchange rates) to €7.7m was driven by strong sales growth for ANAFI USA commercial micro-drones and the start of sales for the ANAFI Ai, which is combined with a continued high level of gross margin. ANAFI USA sales are being further strengthened by the context of the war in Ukraine and a new delivery for the French Defense Procurement Agency (DGA). A second order from 2022 is being looked into, for delivery in the second semester. More widely, Parrot is seeing increased demand for its microdrones, highlighting the gradual integration of drone technologies on its core target markets (inspection, surveillance, mapping), supported by the high level of security provided by its equipment.
  • The 20% growth in revenues from data analysis software (+14% at constant exchange rates) to €6.7m reflects the international development of the sales and marketing strategy and the continued increase in the number of users, for both the new business solutions launched at the start of 2020 and Pix4Dmapper, the flagship solution.

Outlook for 2022

Realigned and driven by professional solutions at the forefront of innovation, Parrot is continuing to look ahead to 2022 with confidence in its strategy and vigilance concerning the changes in the international environment.

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The Group is continuing to allocate its resources to an ambitious R&D roadmap. Supported by its advances in the field of artificial intelligence and the growing integration between hardware and software, Parrot aims to continue facilitating the adoption of drone technologies and offer new use cases that are aligned with the needs of professionals, businesses and institutions, focused on (i) 3D Mapping, Geomatics and Inspection, (ii) Defense and Security, and (iii) Precision Farming.

To secure its production capacity over the medium and long term, and respond to the growing interest in its microdrones at the start of this year, Parrot is further strengthening the synergies between R&D, procurement and production tracking. The increase in the resources allocated to these operations will be combined with an agile sourcing management approach. These transformational initiatives could limit the reduction in costs in 2022, and their efficiency and effectiveness are still strongly correlated with changes in the health context in China, where the situation is still disrupted at the start of this year.

Looking beyond the disruption linked to the economic and geopolitical environment, which is difficult to predict, the Group plans to move forward with its roadmap for revenue growth on its “new scope” and capitalize on the opportunities opened up by the growing adoption of drone technologies in businesses and the public sector. The Group will continue to closely monitor the allocation of its cash, and will be ready to respond and adapt to potential changes in the conditions.

Next financial dates

  • Parrot’s general shareholders’ meeting: Wednesday June 15, 2022
  • 2022 first-half earnings: Thursday July 28, 2022

ABOUT PARROT

Founded in 1994 by Henri Seydoux, Parrot is today the leading European drone manufacturer in this rapidly expanding market.
Visionary, at the forefront of innovation Parrot has a complementary range of equipment and software adapted to the needs of companies, large groups and government organizations. Its offer is mainly centred on three vertical markets: (i) Inspection, 3D mapping and Geomatics, (ii) Defence and security, and Precision agriculture.

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Its ANAFI range of micro UAVs, recognized for their performance, robustness and ease of use, features an open source architecture and meets the highest safety standards. Its software suite for mobile and drone mapping is based on advanced expertise in photogrammetry and offers solutions tailored to the specificities of the verticals it addresses.

The Parrot Group designs and develops its products in Europe, mainly in Paris where its headquarters are located and in Switzerland. Today, it has approximately 450 employees worldwide and carries out the vast majority of its sales internationally. Parrot has been listed on Euronext Paris since 2006 (FR0004038263 – PARRO). For more information:www.parrot.com, www.pix4d.com

CONTACTS

Investors, analysts, financial medias
Marie Calleux – T. : +33(0) 1 48 03 60 60
[email protected]
Tech & consumer medias
Jean Miflin – T. : +33(0) 1 48 03 60 60
[email protected]

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Artificial Intelligence

Metz, in Partnership with AI TECH, Introduces Advanced Interactive Flat Panel to Middle East Market

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SHENZHEN, China, June 17, 2024 /PRNewswire/ — METZ Display, a sub-brand of SKYWORTH and a provider of innovative interactive displays for education and business. The announcement of Artificial Intelligence Technologies LLC Dubai as the authorized exclusive distributor for the UAE market as well as the Oman, Qatar, and Bahrain markets marks a significant expansion for METZ Display. By partnering with a trusted distributor like Artificial Intelligence Technologies, METZ is strategically positioning itself to deliver its full range of smart education and smart conference room applications across these regions. This move not only strengthens METZ’s presence in the Middle East but also underscores its commitment to providing innovative interactive displays tailored for both educational and business environments.

Based on the 16 years of R&D and business experience in the IFPD market from SKYWORTH, METZ Display fully inherited its technology and has introduced several interactive displays in the education and business sectors that provide a highly immersive environment and user-friendly experience since 2022, such as the all-in-one LCD.
Mr. Summer Deng METZ  Sales & Marketing Head of MEA, said: ” The IFPD market in MEA is expected to see rapid growth over the next couple of years. The partnership with Artificial Intelligence Technologies LLC, a business entity to promote AI & AV Products, Tools, and services in the United Arab Emirates & Middle East Region will take METZ Display to another new level. We are confident to further develop our quality products and service!”
METZ Display is expanding its reach into the UAE market through Artificial Intelligence Technologies LLC Dubai as its authorized distributor.
The introduction of the METZ K Pro Series, particularly the EDLA Certified collaborative display, in the MEA Region highlights their commitment to providing innovative interactive display solutions for both education and business sectors. This move could potentially enhance learning and collaboration experiences in the region.
Mr. Harold Fernandes, the Managing Director of Artificial Intelligence Technologies, seems quite enthusiastic about the partnership with METZ Display. His emphasis on the versatility of METZ’s portfolio, applicable across various sectors such as education and business, reflects a keen understanding of the market’s needs. By highlighting the engaging experiences offered by METZ Display products, he’s underlining the potential benefits for resellers and end-users alike. This partnership seems poised to bring innovative solutions to the UAE market.
About METZ Display
With Skyworth, one of the world’s largest TV companies, and Metz, one of the oldest German manufacturers, METZ Display creates high-quality educational and business applications that make state-of-the-art screen technology available to everyone by combining their strengths and 80 years of experience.
About Artificial Intelligence Technologies LLC
Artificial Intelligence Technologies LLC, Is established as a business entity to promote AI & AV Products, and complete AV Solution, Tools & Services in the United Arab Emirates & Middle East Region. Visit the website at https://ai-tech.ai/ 
Phone: +971 4299 0544Email: [email protected]: www.ai-tech.ai
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Complyport’s new AI tool – ViCA.Chat – set to revolutionise compliance support services

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LONDON, June 14, 2024 /PRNewswire/ — ViCA.Chat, the Virtual Compliance Assistant powered by AI technology, is set to transform regulatory compliance consulting. Developed by ComplyMAP Group’s AI engineers and Complyport’s compliance consulting teams, ViCA redefines compliance support services and propels governance, risk and compliance consulting into a new era of innovation. 

Offering real-time assistance across a vast array of UK and EU regulatory frameworks, ViCA delivers unparalleled efficiency, detail and precision in disentangling and dealing with complicated regulatory frameworks.
The key differentiator of ViCA is its specialised and purposely constructed unique databases that leverage Complyport’s 22 years of regulatory expertise, combined with tailored AI training tools, enabling ViCA to operate as an experienced compliance consultant. A dedicated human support team continuously improves and updates ViCA’s knowledge and responses through a feedback loop process and quality assurance sessions. This powerful symbiosis of AI and human expertise sets ViCA apart and ensures businesses have the latest regulatory information instantaneously and seamlessly.
As a result, ViCA’s specialised regulatory database goes beyond readily available online resources which feature into traditional AI tools. ViCA offers exclusive insights, proprietary regulatory interpretations, historical data, bespoke and purposely structured compliance documentation and templates. With advanced scraping capabilities, ViCA also extracts relevant data from selected websites and publicly available information, ensuring an up-to-date and comprehensive understanding of compliance requirements across industries.
From agile fintech startups to established law firms, financial institutions, regulatory bodies, insurance providers, as well as compliance consultants, ViCA seamlessly adapts to unique compliance needs. Its user-friendly interface ensures navigating and analysing regulatory data is swift and intuitive, streamlining the compliance workflow.
“ViCA is a game-changer in how regulatory compliance advice will be provided in the future”, commented Luis Parra, Managing Director of ViCA. “With ViCA, compliance insights become available to all. No longer are regulated firms and responsible people overly dependent on advisors and compliance consultants. Through ViCA, the financial system will not only meet but exceed regulatory standards. Moreover, the level of information made available to the public will benefit society as a whole, in its interactions with the financial services sector.”
Among ViCA’s revolutionary features is its cost-effective model, allowing businesses to significantly reduce reliance on traditional spending with external consultants and advisors.
Visit ViCA.Chat to experience the future of compliance support.
Contact:
Name: Luis ParraTitle: Managing DirectorCompany: Vica.ChatTelephone: +44 20 7399 4980 Email: [email protected]
About ViCA.Chat:
ViCA.Chat is a revolutionary Virtual Compliance Assistant powered by cutting-edge AI technology, designed to demystify the complexities of regulatory compliance. Utilising Complyport’s 22 years of regulatory expertise, ViCA offers real-time assistance and guidance across a wide range of regulatory frameworks, setting a new standard for efficiency and precision in compliance support. From fintech start-ups to established law firms, financial services institutions, regulators, regulatory firms, compliance consultants and insurance firms, ViCA caters to the diverse needs of professionals across all levels in the broader UK financial services sector.
Visit ViCA.Chat to learn more.
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LoRa and LoRaWAN IoT Market worth $32.7 billion by 2029- Exclusive Report by MarketsandMarkets™

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CHICAGO, June 14, 2024 /PRNewswire/ — The LoRa and LoRaWAN IoT Market is expected to reach USD 32.7 billion by 2029 from USD 8.0 billion in 2024, at a Compound Annual Growth Rate (CAGR) of 32.4 % during 2024–2029, according to a new report by MarketsandMarkets™.

Browse in-depth TOC on “LoRa and LoRaWAN IoT Market”
320 – Tables 58 – Figures294 – Pages
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Scope of the Report
Report Metrics
Details
Market size available for years
2018-2029
Base year considered
2023
Forecast period
2024–2029
Forecast units
Value (USD Billion)
Segments Covered
Offering, Network Deployment, Application, End User, and Region
Region covered
North America, Europe, Asia Pacific, Middle East & Africa, and Latin America.
List of Companies in LoRa and LoRaWAN IoT
The Bosch Group (Germany),  Cisco (US), Orange SA (France), Comcast Corporation (US), Semtech (US), NEC Corporation(Japan), Tata Communications (India), AWS (US), Advantech (Taiwan), SK Telecom (South Korea), Murata (Japan), Kerlink (France), Actility (France), Digi International (US), MultiTech (US), Ezurio (US), Sensoterra (Netherlands), Nwave Technologies (US), RAKwireless (China), TheThings.io (Spain), Datacake (Germany), Milesight (China), LORIOT (Switzerland), Exosite (US), Orbiwise (Switzerland), Netmore Group (Sweden), and Radio Bridge Inc (US).
The LoRaWAN ecosystem influences development of tools, software libraries, and cloud-based platforms that streamline the creation, deployment, and management of IoT solutions. Continuously evolving, this ecosystem boasts a burgeoning array of vendors providing LoRa-compliant devices, gateways, and network management solutions. This vibrant competition within the ecosystem propels innovation while driving down costs for end-users. Moreover, the development of interoperable solutions fosters seamless integration and deployment of LoRaWAN networks, simplifying the implementation process for businesses and organizations. As the ecosystem continues to expand and mature, it empowers developers, system integrators, and IoT enthusiasts to unleash their creativity, accelerate time-to-market, and unlock the full potential of LoRaWAN technology in diverse applications and industries.
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Based on network deployment, the public network segment to hold the largest market size during the forecast period.
The robust security features integrated into public LoRaWAN networks play a significant role in driving the growth and adoption of LoRaWAN technology in the market. End-to-end encryption ensures that data transmitted between devices and gateways is protected from unauthorized access or interception, safeguarding sensitive information such as sensor readings, location data, and command messages. Message integrity checks verify the integrity of data packets, detecting any tampering or alteration during transmission and ensuring data authenticity and reliability. Additionally, mutual authentication mechanisms establish trust between devices and gateways, verifying the identity of both parties before allowing communication to occur. These security measures provide organizations and end-users with confidence in the integrity and confidentiality of their data, mitigating concerns related to data privacy, cybersecurity threats, and regulatory compliance. As a result, implementing robust security features in public LoRaWAN networks enhances trust and credibility in the technology, driving increased adoption and market growth as organizations seek reliable and secure connectivity solutions for their IoT deployments.
By offering, the services segment is expected to hold a higher growth rate during the forecast period.
IoT service providers are pivotal in driving adoption by developing vertical-specific solutions finely tuned to the distinct needs of industries like agriculture, healthcare, logistics, and smart cities. In agriculture, for instance, IoT services offer solutions for precision farming, crop monitoring, and livestock management, enabling farmers to optimize irrigation, monitor soil health, and enhance yields. Similarly, IoT services facilitate remote patient monitoring, asset tracking, and inventory management in healthcare, improving patient care, reducing costs, and ensuring compliance with regulatory standards such as HIPAA. In logistics, IoT services provide real-time tracking of shipments, fleet management, and predictive maintenance, enhancing supply chain visibility, efficiency, and reliability. For smart cities, IoT services offer solutions for traffic management, waste management, energy optimization, and public safety, transforming urban infrastructure and enhancing the quality of life for residents. By addressing industry-specific challenges, compliance requirements, and use cases, vertical-specific IoT solutions deliver tangible business value, driving adoption and fueling the growth of the IoT services market across diverse sectors.
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Asia Pacific is expected to hold a higher growth rate during the forecast period.
In the Asia Pacific region, where agriculture serves as a cornerstone of many economies, adopting IoT technologies, particularly LoRa and LoRaWAN, is revolutionizing traditional farming practices. LoRaWAN’s long-range connectivity and low-power consumption make it well-suited for deployment in rural agricultural settings, where access to reliable connectivity may be limited. Through LoRa-based IoT solutions, farmers can implement precision agriculture techniques to address pressing challenges such as water scarcity, soil degradation, and unpredictable weather patterns. LoRa-enabled sensors facilitate real-time monitoring of soil moisture levels, temperature, and humidity, allowing farmers to optimize irrigation schedules and conserve water resources. Remote sensing technologies powered by LoRaWAN enable farmers to gather actionable insights on crop health, pest infestations, and nutrient deficiencies, facilitating timely interventions and improving overall crop management practices. Furthermore, LoRa-based crop analytics platforms provide farmers with data-driven decision support tools, helping them optimize planting strategies, improve yield forecasting, and mitigate the impact of climate change on agricultural productivity. By harnessing the power of LoRa and LoRaWAN IoT solutions, farmers in the Asia Pacific region can increase yields, conserve resources, and enhance resilience to environmental challenges, driving the adoption and growth of the LoRaWAN IoT market in the agricultural sector.
Top Key Companies in LoRa and LoRaWAN IoT Market:
The major vendors covered in the LoRa and LoRaWAN IoT Market are The Bosch Group (Germany),  Cisco (US), Orange SA (France), Comcast Corporation (US), Semtech (US), NEC Corporation(Japan), Tata Communications (India), AWS (US), Advantech (Taiwan), SK Telecom (South Korea), Murata (Japan), Kerlink (France), Actility (France), Digi International (US), MultiTech (US), Ezurio (US), Sensoterra (Netherlands), Nwave Technologies (US), RAKwireless (China), TheThings.io (Spain), Datacake (Germany), Milesight (China), LORIOT (Switzerland), Exosite (US), Orbiwise (Switzerland), Netmore Group (Sweden), and Radio Bridge Inc (US). These players have adopted various growth strategies, such as partnerships, agreements and collaborations, new product launches, enhancements, and acquisitions to expand their footprint in the LoRa and LoRaWAN IoT Market.
Browse Adjacent Markets: Digitalization and Internet of Things (IoT) Market Research Reports & Consulting
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Perimeter Security Market- Global Forecast to 2029
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Smart Water Management Market – Global Forecast to 2028
Rail Asset Management Market – Global Forecast to 2026
Get access to the latest updates on LoRa and LoRaWAN IoT Companies and LoRa and LoRaWAN IoT Industry
About MarketsandMarkets™
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