Artificial Intelligence

NVIDIA Announces Financial Results for First Quarter Fiscal 2023

Published

2 years ago

May 25, 2022

Record quarterly revenue of $8.29 billion, up 46% from a year ago
Record quarterly revenue for Data Center and Gaming

SANTA CLARA, Calif., May 25, 2022 (GLOBE NEWSWIRE) — NVIDIA (NASDAQ: NVDA) today reported record revenue for the first quarter ended May 1, 2022, of $8.29 billion, up 46% from a year ago and up 8% from the previous quarter, with record revenue in Data Center and Gaming.

GAAP earnings per diluted share for the quarter were $0.64, down 16% from a year ago and down 46% from the previous quarter, and include an after-tax impact of $0.52 related to the $1.35 billion Arm acquisition termination charge. Non-GAAP earnings per diluted share were $1.36, up 49% from a year ago and up 3% from the previous quarter.

“We delivered record results in Data Center and Gaming against the backdrop of a challenging macro environment,” said Jensen Huang, founder and CEO of NVIDIA. “The effectiveness of deep learning to automate intelligence is driving companies across industries to adopt NVIDIA for AI computing. Data Center has become our largest platform, even as Gaming achieved a record quarter.

“We are gearing up for the largest wave of new products in our history with new GPU, CPU, DPU and robotics processors ramping in the second half. Our new chips and systems will greatly advance AI, graphics, Omniverse, self-driving cars and robotics, as well as the many industries these technologies impact,” he said.

During the first quarter of fiscal 2023, NVIDIA returned to shareholders $2.10 billion in share repurchases and cash dividends.

On May 23, 2022, the board of directors increased and extended the company’s share repurchase program to repurchase additional common stock up to a total of $15 billion through December 2023.

NVIDIA will pay its next quarterly cash dividend of $0.04 per share on July 1, 2022, to all shareholders of record on June 9, 2022.

Q1 Fiscal 2023 Summary

GAAP
*($ in millions, except earnings per share)*	Q1 FY23		Q4 FY22		Q1 FY22		Q/Q	Y/Y
Revenue	$8,288		$7,643		$5,661		Up 8%	Up 46%
Gross margin		65.5%		65.4%		64.1%	Up 10 bps	Up 140 bps
Operating expenses	$3,563		$2,029		$1,673		Up 76%	Up 113%
Operating income	$1,868		$2,970		$1,956		Down 37%	Down 4%
Net income	$1,618		$3,003		$1,912		Down 46%	Down 15%
Diluted earnings per share	$0.64		$1.18		$0.76		Down 46%	Down 16%

Non-GAAP
*($ in millions, except earnings per share)*	Q1 FY23		Q4 FY22		Q1 FY22		Q/Q	Y/Y
Revenue	$8,288		$7,643		$5,661		Up 8%	Up 46%
Gross margin		67.1%		67.0%		66.2%	Up 10 bps	Up 90 bps
Operating expenses	$1,608		$1,447		$1,189		Up 11%	Up 35%
Operating income	$3,955		$3,677		$2,557		Up 8%	Up 55%
Net income	$3,443		$3,350		$2,313		Up 3%	Up 49%
Diluted earnings per share	$1.36		$1.32		$0.91		Up 3%	Up 49%

Outlook

NVIDIA’s outlook for the second quarter of fiscal 2023 is as follows:

Revenue is expected to be $8.10 billion, plus or minus 2%. This includes an estimated reduction of approximately $500 million relating to Russia and the COVID lockdowns in China.
GAAP and non-GAAP gross margins are expected to be 65.1% and 67.1%, respectively, plus or minus 50 basis points.
GAAP and non-GAAP operating expenses are expected to be approximately $2.46 billion and $1.75 billion, respectively.
GAAP and non-GAAP other income and expense are expected to be an expense of approximately $40 million, excluding gains and losses from non-affiliated investments.
GAAP and non-GAAP tax rates are expected to be 12.5%, plus or minus 1%, excluding any discrete items.

Highlights

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

Data Center

First-quarter revenue was a record $3.75 billion, up 83% from a year ago and up 15% from the previous quarter.
Announced the NVIDIA Hopper™ GPU architecture, delivering an order of magnitude performance leap over its predecessor; the NVIDIA^® H100 Tensor Core GPU, the first Hopper-based GPU, featuring 80 billion transistors; and the NVIDIA DGX™ H100 system, the fourth generation of this purpose-built AI infrastructure.
Announced the Arm ^®^–based NVIDIA Grace™ CPU Superchip with two CPU chips connected coherently over NVLink ^®-C2C, a new high-speed, low-latency chip-to-chip interconnect.
Announced that Taiwan’s leading computer makers are set to release the first wave of systems powered by NVIDIA’s Grace Hopper and Grace CPU Superchips, on track to launch in the first half of 2023.
Unveiled NVIDIA Spectrum™-4, the world’s first 400Gbps end-to-end networking platform, enabling the extreme performance and robust security needed for data center infrastructure at scale.
Announced major updates to NVIDIA AI — which includes enterprise-ready software for advancing speech, recommender systems, hyperscale inference and more — as well as the new NVIDIA AI Accelerated program, to help ensure performance and reliability of AI applications from NVIDIA’s partners.
Announced NVIDIA OVX™ — a dedicated, scalable server reference design for creating industrial digital twins in Omniverse — combining high-performance GPU-accelerated compute, graphics and AI with high-speed storage access, low-latency networking and precision timing.
Unveiled 60+ updates to the NVIDIA CUDA-X™ collection of libraries, tools and technologies across a broad range of disciplines.
Unveiled NVIDIA Clara™ Holoscan MGX , a platform for the medical-device industry to develop and deploy real-time AI applications at the edge, designed to meet required regulatory standards.
Collaborated with Microsoft Azure to preview a scaled virtualized cloud offering using NVIDIA vGPU software and the NVIDIA A10 Tensor Core GPU.
Announced a strategic collaboration with The Kroger Co. to reimagine the shopping experience using AI-enabled applications and services.
Teamed with UF Health, the University of Florida’s academic health center, to develop a neural network that generates synthetic clinical data.

Gaming

First-quarter revenue was a record $3.62 billion, up 31% from a year ago and up 6% from the previous quarter.
Introduced the GeForce RTX^® 3090 Ti, the fastest-ever consumer GPU.
Announced 15 new game titles optimized for NVIDIA RTX — including Dying Light 2 Stay Human, Ghostwire: Tokyo and Shadow Warrior 3 — bringing the total to over 250 games and applications.
Announced that gamers can now access RTX 3080-class streaming with GeForce NOW™ monthly subscription plans.
Expanded the GeForce NOW library with over 100 games — including Lost Ark, Need for Speed: Heat and Life is Strange: Remastered — bringing the total to over 1,300.
Launched Fortnite on GeForce NOW with touch controls for mobile devices, streaming through the Safari web browser on iOS and the GeForce NOW Android app.

Professional Visualization

First-quarter revenue was $622 million, up 67% from a year ago and down 3% from the previous quarter.
Added new NVIDIA Ampere architecture RTX GPUs for workstations, widening access to AI and ray-tracing technology.
Announced the Omniverse Cloud service for instant access to NVIDIA Omniverse™ — including by millions of Mac and Chromebook users — enabling the collaborative editing of large 3D scenes from anywhere when available next year.
Announced that Amazon Robotics is building AI-enabled digital twins of its warehouses, using Omniverse Enterprise, to optimize warehouse design and train more intelligent robotic solutions.

Automotive and Robotics

First-quarter Automotive revenue was $138 million, down 10% from a year ago and up 10% from the previous quarter.
Started production of the NVIDIA DRIVE Orin™ autonomous vehicle computer, which has been chosen by over 35 automakers.
Announced wins with Lucid Motors and BYD, bringing its automotive design-win pipeline to over $11 billion over the next six years.
Introduced NVIDIA DRIVE™ Map, a multimodal mapping platform — based in part on DeepMap survey mapping technology — designed to enable the highest levels of autonomy while improving safety.
Set records in AI inference with NVIDIA Orin in its MLPerf benchmark debut, running up to 5x faster than its predecessor with an average of 2x better energy efficiency.
Announced availability of the NVIDIA Jetson™ AGX Orin developer kit, with production modules shipping in July, and Isaac Nova Orin, a state-of-the-art AI compute and sensor reference platform built to accelerate development of autonomous mobile robots.

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 first quarter fiscal 2023 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 second quarter of fiscal 2023.

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 acquisition termination costs, stock-based compensation expense, acquisition-related and other costs, IP-related costs, legal settlement costs, gains and losses from non-affiliated investments, interest expense related to amortization of debt discount, the associated tax impact of these items where applicable, domestication tax benefit, and foreign 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: the effectiveness of deep learning to automate intelligence driving companies across industries to adopt NVIDIA for AI computing; the largest wave of new products in our history with new GPU, CPU, DPU, and robotics processors ramping in the second half; our new chips and systems to advance AI, graphics, Omniverse, self-driving cars, and robotics, as well as the many industries these technologies impact; the benefits, performance, impact, and abilities of our products and technologies, including NVIDIA Hopper GPU architecture, NVIDIA H100 Tensor Core GPU, NVIDIA DGX H100 system, Arm-based NVIDIA Grace CPU Superchip, NVLink, NVIDIA Spectrum-4, the updated NVIDIA AI, the new NVIDIA AI Accelerated program, NVIDIA OVX, the NVIDIA CUDA-X collection, NVIDIA Clara Holoscan MGX, NVIDIA vGPU software, NVIDIA A10 Tensor Core GPU, GeForce RTX 3090 Ti, NVIDIA RTX, GeForce NOW, NVIDIA Ampere architecture RTX GPUs, Omniverse Cloud, Omniverse Enterprise, the NVIDIA DRIVE Orin autonomous vehicle computer, NVIDIA DRIVE Map, NVIDIA Orin, NVIDIA Jetson AGX Orin, and Isaac Nova Orin; the release by Taiwan’s leading computer makers of the first wave of systems powered by NVIDIA’s Grace Hopper and Grace CPU Superchips; the collaboration with Microsoft Azure to preview a scaled virtualized cloud offering using NVIDIA vGPU software and the NVIDIA A10 Tensor Core GPU; the strategic collaboration with The Kroger Co.; our teaming with UF Health, the University of Florida’s academic health center, to develop a neural network that generates synthetic clinical data; NVIDIA’s share repurchase program; NVIDIA’s next quarterly cash dividend; NVIDIA’s financial outlook for the second quarter of fiscal 2023, including the estimated impact on revenue relating to Russia and the COVID lockdowns in China; and NVIDIA’s expected tax rates for the second quarter of fiscal 2023 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.

© 2022 NVIDIA Corporation. All rights reserved. NVIDIA, the NVIDIA logo, GeForce, GeForce NOW, GeForce RTX, NVIDIA Clara, NVIDIA CUDA-X, NVIDIA DGX, NVIDIA DRIVE, NVIDIA DRIVE Orin, NVIDIA Grace, NVIDIA Hopper, NVIDIA Isaac, NVIDIA Jetson, NVIDIA Omniverse, NVIDIA OVX, NVIDIA Spectrum and NVLink 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
			May 1,			May 2,
				2022			2021

Revenue			$	8,288		$	5,661
Cost of revenue				2,857			2,032
Gross profit				5,431			3,629
Operating expenses
	Research and development			1,618			1,153
	Sales, general and administrative			592			520
	Acquisition termination cost			1,353			–
		Total operating expenses		3,563			1,673
Income from operations				1,868			1,956
	Interest income			18			6
	Interest expense			(68	)		(53	)
	Other, net			(13	)		135
		Other income (expense), net		(63	)		88
Income before income tax				1,805			2,044
Income tax expense				187			132
Net income			$	1,618		$	1,912

Net income per share (A):
	Basic		$	0.65		$	0.77
	Diluted		$	0.64		$	0.76

Weighted average shares used in per share computation (A):
	Basic			2,506			2,484
	Diluted			2,537			2,528

(A) Reflects a four-for-one stock split on July 19, 2021.

NVIDIA CORPORATION
CONDENSED CONSOLIDATED BALANCE SHEETS
(In millions)
(Unaudited)


			May 1,		January 30,
			2022		2022
ASSETS

Current assets:
	Cash, cash equivalents and marketable securities		$	20,338	$	21,208
	Accounts receivable, net			5,438		4,650
	Inventories			3,163		2,605
	Prepaid expenses and other current assets			636		366
		Total current assets		29,575		28,829

Property and equipment, net				2,916		2,778
Operating lease assets				856		829
Goodwill				4,365		4,349
Intangible assets, net				2,211		2,339
Deferred income tax assets				1,784		1,222
Other assets				3,505		3,841
		Total assets	$	45,212	$	44,187

LIABILITIES AND SHAREHOLDERS’ EQUITY

Current liabilities:
	Accounts payable		$	1,999	$	1,783
	Accrued and other current liabilities			3,563		2,552
		Total current liabilities		5,562		4,335

Long-term debt				10,947		10,946
Long-term operating lease liabilities				752		741
Other long-term liabilities				1,631		1,553
		Total liabilities		18,892		17,575

Shareholders’ equity				26,320		26,612
		Total liabilities and shareholders’ equity	$	45,212	$	44,187

NVIDIA CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(In millions)
(Unaudited)


		Three Months Ended
		May 1,			May 2,
			2022			2021

Cash flows from operating activities:
Net income		$	1,618		$	1,912
Adjustments to reconcile net income to net cash
provided by operating activities:
	Acquisition termination cost		1,353			–
	Stock-based compensation expense		578			429
	Depreciation and amortization		334			281
	Losses (gains) on investments in non affiliates, net		17			(133	)
	Deferred income taxes		(542	)		24
	Other		23			(3	)
Changes in operating assets and liabilities, net of acquisitions:
	Accounts receivable		(788	)		(595	)
	Inventories		(560	)		(159	)
	Prepaid expenses and other assets		(1,261	)		2
	Accounts payable		255			36
	Accrued and other current liabilities		634			33
	Other long-term liabilities		70			47
Net cash provided by operating activities			1,731			1,874
Cash flows from investing activities:
	Proceeds from maturities of marketable securities		5,947			3,140
	Proceeds from sales of marketable securities		1,029			358
	Purchases of marketable securities		(3,932	)		(4,470	)
	Purchases related to property and equipment and intangible assets		(361	)		(298	)
	Acquisitions, net of cash acquired		(36	)		–
	Investments and other, net		(35	)		(2	)
Net cash provided by (used in) investing activities			2,612			(1,272	)
Cash flows from financing activities:
	Proceeds related to employee stock plans		204			126
	Payments related to repurchases of common stock		(1,996	)		–
	Payments related to tax on restricted stock units		(532	)		(477	)
	Dividends paid		(100	)		(99	)
	Principal payments on property and equipment and intangible assets		(22	)		(19	)
	Other		–			(2	)
Net cash used in financing activities			(2,446	)		(471	)
Change in cash and cash equivalents			1,897			131
Cash and cash equivalents at beginning of period			1,990			847
Cash and cash equivalents at end of period		$	3,887		$	978

NVIDIA CORPORATION
RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES
(In millions, except per share data)
(Unaudited)

		Three Months Ended
		May 1,			January 30,			May 2,
			2022			2022			2021

GAAP gross profit		$	5,431		$	4,999		$	3,629
GAAP gross margin			65.5	%		65.4	%		64.1	%
	Acquisition-related and other costs (A)		94			86			87
	Stock-based compensation expense (B)		38			39			25
	IP-related costs		–			–			5
Non-GAAP gross profit		$	5,563		$	5,124		$	3,746
Non-GAAP gross margin			67.1	%		67.0	%		66.2	%

GAAP operating expenses		$	3,563		$	2,029		$	1,673
	Acquisition termination cost		(1,353	)		–			–
	Stock-based compensation expense (B)		(540	)		(512	)		(404	)
	Acquisition-related and other costs (A)		(55	)		(70	)		(80	)
	Legal settlement costs		(7	)		–			–
Non-GAAP operating expenses		$	1,608		$	1,447		$	1,189

GAAP income from operations		$	1,868		$	2,970		$	1,956
	Total impact of non-GAAP adjustments to income from operations		2,087			707			601
Non-GAAP income from operations		$	3,955		$	3,677		$	2,557

GAAP other income (expense), net		$	(63	)	$	(105	)	$	88
	Losses (gains) from non-affiliated investments		17			53			(134	)
	Interest expense related to amortization of debt discount		1			–			1
Non-GAAP other income (expense), net		$	(45	)	$	(52	)	$	(45	)

GAAP net income		$	1,618		$	3,003		$	1,912
	Total pre-tax impact of non-GAAP adjustments		2,105			760			468
	Income tax impact of non-GAAP adjustments (C)		(280	)		(330	)		(67	)
	Domestication tax adjustments		–			7			–
	Foreign tax benefit		–			(90	)		–
Non-GAAP net income		$	3,443		$	3,350		$	2,313

Diluted net income per share (D)
	GAAP	$	0.64		$	1.18		$	0.76
	Non-GAAP	$	1.36		$	1.32		$	0.91

Weighted average shares used in diluted net income per share computation (D)			2,537			2,545			2,528

GAAP net cash provided by operating activities		$	1,731		$	3,033		$	1,874
	Purchases related to property and equipment and intangible assets		(361	)		(273	)		(298	)
	Principal payments on property and equipment and intangible assets		(22	)		(21	)		(19	)
Free cash flow		$	1,348		$	2,739		$	1,557



(A) Acquisition-related and other costs are comprised of amortization of intangible assets, transaction costs and certain compensation charges presented in the following line items:
		Three Months Ended
		May 1,			January 30,			May 2,
			2022			2022			2021
	Cost of revenue	$	94		$	86		$	87
	Research and development	$	9		$	9		$	1
	Sales, general and administrative	$	46		$	61		$	79

(B) Stock-based compensation consists of the following:
		Three Months Ended
		May 1,			January 30,			May 2,
			2022			2022			2021
	Cost of revenue	$	38		$	39		$	25
	Research and development	$	384		$	362		$	276
	Sales, general and administrative	$	156		$	150		$	128

(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


		Q2 FY2023 Outlook
		($ in millions)

GAAP gross margin			65.1	%
	Impact of stock-based compensation expense, acquisition-related costs, and other costs		2.0	%
Non-GAAP gross margin			67.1	%

GAAP operating expenses		$	2,460
	Stock-based compensation expense and acquisition-related costs		(710	)
Non-GAAP operating expenses		$	1,750

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CISION (PR Newswire)

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
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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
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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.
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Artificial Intelligence

Robotic Palletizer Market worth $1.9 billion by 2029 – Exclusive Report by MarketsandMarkets™

Published

11 hours ago

April 19, 2024

CISION (PR Newswire)

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.

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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
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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
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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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