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Q1 2022 revenue up 2.5% on a reported basis, strong underlying trends

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Q1 2022 revenue up 2.5% on a reported basis, strong underlying trends

Solid developments across all solutions despite a high comparison basis

  • Total revenue of €253 million in Q1 2022, up 2.5% on a reported basis and down 0.6%1 organically vs. Q1 2021, in line with Quadient’s expectations.
  • Intelligent Communication Automation revenue was up 10.7% organically, driven by a 15.7% organic growth in subscription-related revenue. Growth in Annual Recurring Revenue (€158 million2,3 at end of Q1 2022) was supported by further customer base expansion, reaching 12,000+ customers2 at the end of the quarter, and positive usage evolution.
  • Solid performance from Mail-Related Solutions with a contained revenue decline of -1.7% organically despite a high comparison basis in Q1 2021 (6.3% organic growth Q1 2021 vs. Q1 2020). Resilience in revenue, driven in part by a positive contribution from North America, confirms the success of Quadient’s strategic choices to focus on innovation and customers.
  • Parcel Locker Solutions installed base grew by a further c.550 units, reaching 16,300 lockers at the end of Q1 2022. While subscription-related revenue progressed further with an 11.1% organic growth, hardware sales suffered from the very high comparison basis vs. Q1 2021 mainly due to the end of the roll-out of a large retail customer contract in the United States. As a consequence, Parcel Locker Solutions revenue declined by -17.9% on an organic basis, to be compared with the 67.9% organic growth recorded in Q1 2021 vs. Q1 2020.

Dynamic fundamentals and strong pipeline FY 2022 guidance reiterated

  • With a solid Q1 performance in line with its expectations, a robust recurring business model supported by dynamic fundamentals and a strong pipeline across all solutions, Quadient confirms its FY 2022 guidance as it expects organic growth to accelerate throughout the rest of the year.
  • FY 2022 organic revenue growth confirmed above 2%4 compared to FY 2021.
  • Current EBIT5 organic growth confirmed at low to mid-single digit compared to FY 2021.

Paris, 7 June 2022,

Quadient (Euronext Paris: QDT), a leader in business solutions for meaningful customer connections through digital and physical channels, today announces its first-quarter 2022 consolidated sales (period ended on 30 April 2022).

Geoffrey Godet, Chief Executive Officer of Quadient, stated: Q1 was very much in line with our expectations thanks to a strong underlying performance in each of our three solutions, despite a high year-over-year comparison basis. Looking ahead, our solid market positions are setting us on a favorable path across our solutions. In that respect, we are very proud of the recent industry recognition placing our cloud platform as a market leader in the IDC MarketScape only three years after having launched our cloud strategy. Our SaaS offers show increasing penetration in their main markets while we also continue the deployment of our newly acquired fintech companies into new European geographies. Our large pipeline of projects for Parcel Lockers continues to show good momentum, while our Mail-Related Solutions are performing well, thanks in particular to the success of our recently launched iX series. Based on these solid fundamentals and thanks to our strongly recurrent and largely inflation-indexed business model, we are confident that organic growth will accelerate throughout the rest of the year and therefore confirm our guidance for the full year.”

FIRST-QUARTER 2022 SALES

Consolidated sales amounted to €253 million in the first quarter of 2022, a 2.5% year-over-year increase and a -0.6% decline on an organic basis. Foreign exchange had a significant positive impact in Q1 of c.€11 million, mostly U.S. dollar driven, while change of scope was a net negative impact of -€3.7 million coming from the combination of the sale of packaging solution business at the end of H1 2021 and from the acquisition of Beanworks in March 2021.

Change in Q1 2022 sales

In million euros Q1 2022 Q1 2021 Change Change at constant rates Organic change
Major Operations 236 226 +5.1% 0.0% -0.8%
Intelligent Communication Automation 52 44 +4.4% +7.8% +10.7%
Mail-Related Solutions 165 159 +0.9% +6.3% -1.7%
Parcel Locker Solutions 19 22 -14.6% -17.9% -17.9%
Additional Operations 16 20 24.3% 24.3% +1.8%
Total Sales 253 246 +2.5% -2.1% -0.6%
           
In million euros Q1 2022 Q1 2021 Change Change at constant rates Organic change
Major Operations 236 226 +5.1% -0.0% -0.8%
North America 135 123 +10.0% +1.5% +0.0%
Main European countries(a) 89 91 -2.4% -3.4% -3.4%
International 13 12 +11.4% +10.1% +10.1%
Additional Operations 16 20 -24.3% -24.3% +1.8%
Total Sales 253 246 +2.5% -2.1% -0.6%

(a) Austria, Benelux, France, Germany, Ireland, Italy, Switzerland, United Kingdom

Major Operations

Major Operations recorded revenue of €236 million (94% of total sales) in the first quarter of 2022, up by 5.1% year-over-year, benefiting from a favorable currency impact. On an organic basis, revenue was down by -0.8% vs. Q1 2021, impacted by the high comparison bases for Mail-Related Solutions and Parcel Locker Solutions, while Intelligent Communication Automation posted a double-digit organic growth.

Q1 2022 sales in North America (57% of Major Operations sales) was flat vs. Q1 2021 on an organic basis. Quadient benefited from a double-digit contribution from Intelligent Communication Automation and a strong performance from Mail-Related Solutions. Parcel Locker Solutions revenue, however, suffered from the high comparison basis related to the end of the roll-out of a large retail customer contract in Q1 last year.

Main European countries benefited from the deployment of recently gained Parcel Locker Solutions’ contracts with double digit organic growth for the Solution, as well as Intelligent Communication Automation’s recent launch of it Accounts Payable Automation platform. This positive performance for European Operations was offset by a revenue decline in Mail-Related Solutions, particularly in France.

The International segment posted a double-digit organic increase in revenue in Q1 2022 (+10.1%) compared to Q1 2021, driven by the positive contribution from both Intelligent Communication Automation and Parcel Locker Solutions.

Intelligent Communication Automation
Intelligent Communication Automation reported sales of €52 million in the first quarter of 2022, up by 10.7% organically compared to the first quarter of 2021.

Subscription-related revenue (73% of Intelligent Communication Automation in Q1 2022) recorded a strong double-digit organic growth of 15.7% with all client types posting double digit growth, including a c.50% growth in subscription-related revenue growth from ICA’s financial automation solutions (AR/AP).

Despite the continuous shift in business model from license to SaaS, license sales reported a 6.4% organic revenue increase in Q1 2022, compared to a particularly low level in Q1 2021. The -3.7% organic decline in professional services revenue was driven by product mix evolution and fewer large contract implementations in Europe vs. Q1 last year.

Annual Recurring Revenue progressed significantly to €158 million2 at the end of Q1 2022 vs. €145 million3 at the end of FY 2021 supported by further customer gains. Customer number3 surpassed 12,000 at the end of Q1 2022 fueled by a c.450  net increase in the period reflecting the success of our cross-selling and up-selling strategy as well as the promising deployment of recently acquired Account Payable Automation platform Beanworks in France and the UK.

Post closing of the quarter and only three years after announcing our cloud strategy, Quadient was named a “Leader” in the 2022 IDC MarketScape vendor assessment for Cloud Customer Communications Management (CCM), highlighting the strong positioning of Quadient’s cloud platform offer against competition. Such a selective industry recognition further demonstrates the success of Quadient’s SaaS strategy and the rapid and successful development of its cloud offering. Amongst other things, the IDC MarketScape listed customer experience strategy, performance and scale, and implementation experience as strengths of Quadient.

Mail-Related Solutions
Mail-Related Solutions sales stood at €165 million in the first quarter of 2022, down only -1.7% organically compared to the first quarter of 2021 despite a strong comparison base in Q1 2021, which was up 6.3% vs. Q1 2020 on an organic basis.

Subscription-related revenue (73% of Mail-Related Solutions sales in Q1 2022), was down -1.7% organically, highlighting once again the resilience of the business and of its installed base.

Hardware sales also continue to show resilience with a contained -1.6% organic decline, a solid performance which came on the back of a strong Q1 2021 (31.9% organic growth vs Q1 2020 thanks to a post-COVID rebound). This is proving the robustness of Quadient’s strategic choices and the success of the placements of the iX product range. The share of upgraded installed base continues to progress at a steady pace, reaching 13.8% at the end of Q1 2022 vs. 11.7% at the end of the FY 2021.

Sales experienced positive organic growth in North America, while the Main European countries posted an organic decline with France being impacted by the presidential election. However, both regions outperformed their respective markets.

Parcel Locker Solutions
Parcel Locker Solutions reported sales of €19 million down -17.9% organically against the high Q1 2021 comparison basis at €22 million, which was up 67.9% organically compared to the first quarter of 2020 due to the end of the deployment of the large retail customer’s contract in the United States. The impact from this very high comparison basis is reflected in the hardware sales performance (-47.7% organic decline vs. Q1 2021).

In contrast, subscription-related revenue (67% of Parcel Locker Solutions sales in Q1 2022), posted a double-digit organic growth (+11.1%) driven by the increase in the installed base (16,300 lockers at the end of Q1 2022, up c.550 units from the end of 2021) and proving the attractiveness of the offering across the four main verticals (property management, carriers, retailers, universities & corporates).

Of note, the high double-digit organic growth in revenue in France and the UK, thanks to the deployment of recently signed contracts with large retailers.

Overall, the underlying trends in Parcel Locker Solutions remain sound with a significant pipeline of potential projects ahead.

Additional Operations

Additional Operations recorded revenue of €16 million (6% of total sales) in the first quarter of 2022, up 1.8% on an organic basis compared to the first quarter of 2021. On a reported basis and due to change in scope, Additional Operations posted a -24.3% decline reflecting the disposal of the Automated Packaging Solution business at the end of H1 2021.

ESG: SCOPE 1 & 2 GHG EMISSION REDUCTION TARGETS RAISED, IN LINE WITH A 1.5°C TRAJECTORY

The reduction of GHG emissions and the fight against climate change are an important focus of Quadient’s CSR program. Defined at the beginning of 2021, Quadient’s initial target was a -28% reduction by 2030 for scope 1 and 2 GHG emissions against 2018’s baseline. This was set in line with the SBTi methodology based on the “Well below 2°C trajectory”. In 2021, Quadient’s corporate actions combined with the impact of COVID on the Company’s ways of working led to a larger than anticipated decline of -45.9% in scope 1 & 2 emissions (against the 2018 baseline). As the Company returns to a more dynamic way of working and the business continues to grow, this performance is likely to recede in the short-term due to an expected increase in energy consumption and corporate travels.

Building upon this 2021 outcome, Quadient has decided to raise its emission reduction targets, now aiming for a much more ambitious -50.4% reduction of for scope 1 & 2 GHG emissions by 2030 (still against the 2018 baseline). This new target is set according to the more demanding SBTi methodology based on the “1.5°C trajectory”. To align management to this target, the climate ambitions reflected here have been introduced as part of the Company’s long-term incentive plan criteria with a 20% weight. This criteria is also part of the CEO’s long-term incentive plan criteria.

Regarding scope 3 GHG emissions, Quadient has kept its 2030 target unchanged, i.e. a -40% GHG reduction per € million revenue compared to 2018 baseline, set in line with the SBTi methodology based on the “Well below 2°C trajectory”.

FULL-YEAR 2022 OUTLOOK CONFIRMED

Performance was in line with Quadient’s expectations for the first quarter 2022, driven by strong market dynamics and solid business fundamentals, while Q1 2022 organic growth was impacted by a high comparison basis for both Mail-Related Solutions and Parcel Locker Solutions.

Despite growing uncertainty in the macroeconomic environment, Quadient expects the business trends for its three solutions to remain solid. Current trading conditions remain attractive with i) positive developments for Intelligent Communication Automation’s cloud platform cross-selling and up-selling as well as growth opportunities in new geographies; ii) expected further penetration for Mail-Related Solutions’ iX product range in Quadient’s main markets, while backlog levels remain high thanks to solid bookings; iii) a promising pipeline of projects in Parcel Locker Solutions supported by sound global e-commerce and logistics market dynamics; and iv) innovative products contributing to clients’ automation and cost savings. In addition, regarding supply chain conditions, Quadient has not experienced any further deterioration neither in terms of freight and raw material costs, nor in terms of shipping delays.

Against this backdrop, Quadient expects organic growth to resume and accelerate throughout the year, confirming its FY 2022 guidance of an organic revenue growth of at least 2%4 vs. 2021. Quadient continues to expect double-digit organic sales growth in both Intelligent Communication Automation and Parcel Locker Solutions, and an organic sales decline in Mail-Related Solutions to remain contained.

From a profitability standpoint, Quadient also reiterates its guidance of a low to mid-single digit current EBIT5 organic growth compared to 2021. The Company’s business model benefits from a largely recurring and indexed installed based. In addition, Quadient expects to build on both its good track record of cost control and some pricing power against inflation.

Q1 2022 BUSINESS HIGHLIGHTS

Quadient Continues Footprint Expansion in Document Automation Cloud Solutions with Impress Distribute now Available in Germany

On 12 April 2022, Quadient announced the launch of Impress Distribute in Germany, expanding in yet another major European market the capabilities of Quadient® Impress, its cloud-based document automation for small and medium businesses (SMBs). With Impress Distribute, Quadient now brings additional communication channels to German users, in particular print mail outsourcing in partnership with SPS, a global full-service provider of business process services.

Purolator Installs Parcel Pending by Quadient Smart Lockers to Enhance Customer Experience and Meet Increased Package Delivery Demands

On 22 February 2022, Quadient announced that Purolator, one of Canada’s leading integrated freight, package and logistics solutions providers, has installed more than 20 Parcel Pending by Quadient smart locker systems at its busiest terminals in Canada. The automated smart lockers provide Purolator’s customers with a convenient and secure way to retrieve their packages, any time, day or night.

Quadient Launches its Accounts Payable Automation Solution Beanworks in France and the UK Amidst Rising Demand

On 16 February 2022, Quadient announced the launch of Beanworks by Quadient in the United Kingdom (UK) and France. The leading accounts payable (AP) automation solution provides accounting teams with a faster, more secure and easier way to approve invoices and pay vendors from anywhere.

POST-CLOSING EVENTS

Quadient Named a Leader in IDC MarketScape for Cloud Customer Communications Management

On 2 June 2022, Quadient announced that the Company was named a “Leader” in the IDC MarketScape: Worldwide Cloud Customer Communications Management Applications 2022 Vendor Assessment – Dynamic Delivery of Multi-channel Personalized Experiences (doc #US48167722, May 2022). The report provides details to assess providers of CCM solutions, including Quadientâ Inspire and Quadientâ Impress. According to the IDC MarketScape report, enterprises that seek omni-channel customer experiences through the lens of a customer journey should consider Quadient. The IDC MarketScape listed customer experience strategy, performance and scale, and implementation experience as strengths of Quadient.

Quadient Launches Automated Accounts Receivable Solution YayPay in France

On 10 May 2022, Quadient announced the launch in France of YayPay by Quadient, a cloud-based intelligent accounts receivable (AR) solution that automates the entire AR process from credit to cash application. The YayPay expansion comes on the heels of the launch earlier this year of Quadient’s accounts payable (AP) automation solution, Beanworks, in France and the United Kingdom, as well as last month’s launch of Impress Distribute, its cloud-based omnichannel document distribution solution, in Germany. Powered by artificial intelligence and machine learning, YayPay’s predictive analytics engine provides insights on payer behavior and their impact on cash flow, with the use of dynamic dashboards and process automation that help to reduce outstanding receivables and day sales outstanding (DSO) for companies. Acquired in 2020, YayPay is part of Quadient’s best-of-breed and cloud-based Intelligent Communication Automation (ICA) platform, which is bringing together customer communications management, financial automation, customer journey mapping and document automation. In 2021, Quadient software activities represented revenues of more than €200 million.

Quadient and Decathlon Reaffirm Partnership on Parcel Lockers

On 3 May 2022, Quadient announced that Decathlon, a leading global sporting goods retailer, will equip dozens of additional stores with Quadient’s automated parcel lockers in 2022. Since the adoption of the first Quadient locker solutions in 2015, Decathlon has equipped 62 stores in France with the lockers. The success of the lockers, which has been tested and certified by the retailer’s teams, motivated the sports brand to expand its partnership with Quadient. New consumer consumption patterns and growing demand for more convenient delivery solutions, accelerated by the global pandemic, led Decathlon to refine its omnichannel strategy by increasing the pick-up options for its “click & collect” offers.

***

CONFERENCE CALL & WEBCAST

Quadient will host a conference call and webcast on 7 June 2022 at 6:00 pm Paris time (5:00pm London time). The meeting will be held in English.

To join the webcast, click on the following link: Webcast

To join the conference call, please use one of the following phone number:

▪ France: +33 (0) 1 70 37 71 66;

▪ United States: +1 212 999 6659;

▪ United Kingdom: +44 (0) 33 0551 0200;

Password: QUADIENT

A replay of the audio webcast will be available for a period of one year.

CALENDAR

***

About Quadient®
Quadient is the driving force behind the world’s most meaningful customer experiences. By focusing on three key solution areas, Intelligent Communication Automation, Parcel Locker Solutions and Mail-Related Solutions, Quadient helps simplify the connection between people and what matters. Quadient supports hundreds of thousands of customers worldwide in their quest to create relevant, personalized connections and achieve customer experience excellence. Quadient is listed in compartment B of Euronext Paris (QDT) and is part of the CAC® Mid & Small and EnterNext® Tech 40 indices.

For more information about Quadient, visit https://invest.quadient.com/en-US.

Contacts


1 Q1 2022 sales are compared to Q1 2021 sales at constant exchange rates (11 million positive currency impact over the period), to which is added, prorata temporis, revenue from Beanworks acquired in March 2021, for a consolidated amount of €0.7 million, and excluding automated packaging activities divested at the end of H1 2021, accounting for €4.4 million in Q1
2 Q1 2022 ARR benefited from a c.€5 million positive currency impact vs. Q4 2021
2 FY 2021 ARR and customer number were corrected for a c.€2m / c.280 customers double counting
4 Compared to fiscal year 2021 at constant exchange rates, including Beanworks acquired in March 2021, for a consolidated amount of €0.7 million, and excluding automated packaging activities divested at the end of H1 2021, accounting for €13.8 million
5 Current EBIT = current operating income before acquisition-related expenses

Attachment

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Artificial Intelligence

Actuators Market worth $94.8 billion by 2029 – Exclusive Report by MarketsandMarkets™

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CHICAGO, March 29, 2024 /PRNewswire/ — The Actuators market is estimated at USD 67.7 billion in 2024 and is projected to reach USD 94.8 billion by 2029, at a CAGR of 7.0 % from 2024 to 2029 according to a new report by MarketsandMarkets™. The growth can be attributed to growing industrial automation and use of robots in various sectors like manufacturing and transportation, Developments in areas like sensor technology, connectivity, and control systems, The increasing demand for actuators is fueled by the expansion of sectors like healthcare (medical devices), oil & gas, and aerospace & defense, and the need for improved process control, energy efficiency, and safety regulations in various industries.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=59465451
Browse in-depth TOC on “Actuators Market” 300 – Tables175 – Figures350 – Pages
Actuators Market Report Scope:
Report Coverage
Details
Market Revenue in 2024
$ 67.7 billion
Estimated Value by 2029
$ 94.8 billion
Growth Rate
Poised to grow at a CAGR of 7.0%
Market Size Available for
2019–2028
Forecast Period
2023–2028
Forecast Units
Value (USD Million/Billion)
Report Coverage
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered
By Actuation, Application, Type, Vertical, and Region
Geographies Covered
North America, Europe, Asia Pacific, and Rest of World
Key Market Challenge
Issues of leakage in pneumatic and hydraulic actuators
Key Market Opportunities
Increased spending on renewable sources of energy for power generation
Key Market Drivers
Rapid industrialization and utilization of robotics
The Electric segment held the largest growth rate in the Actuators market by actuation.
By actuation, the Actuators market has been segmented into electric, hydraulic, pneumatic, and others. electric Segment to hold the highest growth rate during the forecast period. Electrical actuators use electricity to produce motion. These actuators can be further classified into solenoid actuators and motor-driven actuators. A solenoid used in an electric actuator works on the principle of electromagnetism. Electrical actuators provide control and acceleration at higher speeds. The force for applying thrust can be managed without the requirement for compressed air and the related infrastructure, and hence the total energy consumption in these actuators is lower. Electrical actuators can be used for various applications where linear as well as rotary actuation is required. They can be used for low torque as well as high torque requirements.
The vehicle equipment segment is expected to account for the largest share of Actuators by application in 2024.
By application, the Actuators industry is segmented into industrial automation, robotics, and vehicle equipment. The vehicles and equipment segment includes actuators used in automotive, aircraft, ships, and defense vehicles. These can be either hydraulic, pneumatic, electrical, or mechanical actuators. Actuators are widely used in various systems and sub-systems of an automobile, aircraft, ships as well as defense vehicles.
Inquiry Before Buying: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=59465451
Asia Pacific accounts for the largest market share in 2024.
The Actuators market has been studied in North America, Europe, Asia Pacific, Middle East, and Rest of the World. The Asia Pacific region accounts for the largest market share in 2024 as well as throughout the forecast period due to the increasing demand for actuators in the region to enhance the growth of the market. India is expected to show the highest growth rate in Asia Pacific Region for Actuators market.
Major players operating in the Actuators companies are SMC Corporation (Japan), Rockwell Automation (US), Curtiss-wright Corporation (US), ABB Ltd (Switzerland), and Parker Hennifin Corporation (US).
Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=59465451
Browse Adjacent Market: Aerospace and Defence Market Research Reports & Consulting
Related Reports: 
Aircraft Sensors Market Size, Share & Growth Analysis Report by Aircraft Type (Fixed-wing, Rotary-wing, UAVs, AAM), Application (Engine, Aerostructures, Fuel & Hydraulic, Cabin), Sensor Type, End Use (OEM, Aftermarket), Connectivity (Wired, Wireless) and Geography- Global Forecast to 2027
Military Actuators Market by Application (Air, Land, Naval), System (Electrical, Hydraulic, Pneumatic, Mechanical), Component (Cylinders, Drives, Servo Valves, Manifolds), Type (Linear, Rotary), and Region (2019-2024)
Aircraft Actuators Market Size, Share & Industry Growth Analysis Report by Installation Type (OEM & Aftermarket), System, Technology (Hydraulic, Electric Hybrid, Mechanical, Pneumatic, and Full Electric), Type, Platform, Aircraft Type (Fixed Wing and Rotary Wing) and Region – Global Forecast to 2027
Aircraft Engine Market Size, Share & Industry Growth Analysis Report by Type (Turboprop, Turbofan, Turboshaft, Piston Engine), Platform (Fixed wing, Rotary Wing, UAV), Component (Compressor, Turbine, Gear Box, Exhaust Nozzle, Fuel System), Technology, and Global Growth Driver and Industry Forecast to 2026
Avionics Market by Platform (Military Aviation, Commercial Aviation, General Aviation, Special Mission Aviation), Fit, Systems and Region (North America, Europe, Asia Pacific, Middle East and Rest of the World) – Global Forecast to 2030
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/global-actuators-market.aspContent Source: https://www.marketsandmarkets.com/PressReleases/global-actuators.asp
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Artificial Intelligence

Roborock Unveils Global No.1 Robotic Vacuum Cleaner Sales Ranking at International Launch Event

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Certified by Euromonitor, Roborock attributes its rise to the top to embracing a long-term mindset while upholding customer-centric innovation above all else
BEIJING, March 29, 2024 /PRNewswire/ — Roborock, a global leader in ultra-intelligent home robotics engineered to simplify daily life, today announced it has taken the number one spot for robotic vacuum sales worldwide, according to new data by Euromonitor. Celebrating its achievements at a global launch event on the eve of its 10-year anniversary, the brand also revealed a glimpse of what is to come in the form of new product lines while sharing its vision for the future.

Founded in 2014, Roborock owes its success to its long-standing commitment to customer-centric innovation. By delivering meaningful solutions which improve everyday lives, Roborock has built a truly global fanbase, with Euromonitor data confirming that the brand has achieved the number 1 sales position worldwide for robotic vacuum cleaners[1].
“We are so honored to be celebrating this achievement with you all, which was made possible thanks to the ongoing trust and support received over the last 10 years.” Mr. Quan, Roborock President, announced, “Our path to success has been a marathon, not a sprint, as we have always kept in view our brand spirit of “taking the long view in order to do the right thing”. Our unwavering commitment to focusing on delivering true value to our customers is how we have built the brand affinity that has gotten us where we are today – firmly on our way to becoming a global leader in the smart home space.”
Steppingstones on the Path to Success: Roborock Achieves Steady Market Growth on Journey to Become a Global Leading Home Appliance Brand
Further cementing its global success story, the brand also revealed impressive results in many of its key markets. Roborock is now present in over 170 countries, serving over 15 million homes worldwide. According to data from IDC, Roborock ranks number one in Turkey and number two in the US in terms of sales, while also taking the top spot in Germany, Korea, and the Nordics in terms of shipments in 2023[2]. As revealed by Roborock’s latest Financial Earnings Report, the brand recorded a total revenue of 8.65 billion Yuan last year (US$1.22 billion), with total robot vacuum shipments surpassing 2.6 million units. Roborock’s overseas operation recorded revenue growth of 21.42% compared to the prior year and Roborock’s net profit was listed at 2.05 billion Yuan (US$288 million), achieving an overall annual growth rate of 73.32%. This consistent growth across all key markets demonstrates Roborock’s strategic choice to directly address consumer demands and striving for excellence across user experience is resonating with millions worldwide.
Despite these successes, Mr. Quan acknowledged these results were not in themselves the ultimate end goal. Globalization is a vital pillar of Roborock’s mission to become a leader in its field. As such, Roborock plans to expand its global footprint by introducing more innovative products that cater to the unique needs of global users, taking into account the different requirements of various markets, and extending more partnerships worldwide, ensuring that Roborock makes strides overseas on a larger scale and at a faster pace.
Meaningful Innovation: Roborock’s User-Centric R&D Principles and Latest Revolutionary Developments
Roborock’s passion to create value for its consumers propels them to continuously seek out new technological advancements that can serve real consumer pain points. From 2019 to 2023 Roborock invested 1.9 billion Yuan (260 million USD) in Research and Development. Roborock’s approach to take the long term view, ensures R&D teams are encouraged not to seek quick fixes, but to focus on innovation that will truly serve the needs of the end consumer, such as addressing key areas like cleaning capabilities, mapping and navigation, convenience and smart home interconnectivity.
Enhancing the cleaning capabilities of its latest range, Roborock has introduced the FlexiArm Design™ Side Brush, a stretching side brush delivering 100% corner cleaning coverage – elevating the user experience. When it comes to user satisfaction, delivering a low-maintenance, hands-free experience is also paramount. Roborock recently introduced an auto water refill and drainage system, which automatically emptying and replacing dirty water with clean water through pipes during mop washing and tank refilling.
Aside from advanced hardware solutions, Roborock has always invested heavily in the discovery and implementation of emerging technologies that can enhance the functionality and accessibility of its devices. Roborock’s Reactive AI 2.0 Obstacle Recognition technology can recognize and differentiate between floor and room types, accurately identifying 73 different obstacles to navigate, including floor mirrors and pet supplies. Roborock SmartPlanTM function uses an advanced AI algorithm to intelligently plan and optimize cleaning paths and settings based on user habits and specific home layout, making the cleaning process even more intelligent and efficient. The S8 MaxV Ultra is now certified by CSA for Matter, and other Roborock products will follow in the near future suit to enhance connectivity.
Enriching Roborock’s Product Portfolio to Enhance the Quality of Life for Consumers
Concluding the exciting launch, Roborock unveiled three exciting new product lines to its portfolio of intelligent automated devices. Roborock’s product managers took to the stage to introduce three new robotic vacuums – the G20S (S8 MaxV Ultra), V20 and P10S Pro. 
The G20S (S8 MaxV Ultra) launched to great acclaim at CES 2024 and is Roborock’s most technologically advanced one-stop cleaning solution to date. A highly intuitive device, the G20S is equipped with FlexiArm Design™ Side Brush, a unique robotic arm that enables complete corner cleaning capabilities, and an extra side mop for edge cleaning, alongside Reactive AI 2.0 obstacle recognition, built-in intelligent voice assistant, and RockDock® Ultra which automatically maintains the robot cleaner using hot water and heated air with intelligent mop re-washing and re-mopping capabilities. The G20S (S8 MaxV Ultra) will be available to purchase globally from April, retailing for USD 1799.99 / EURO 1499.
Initially debuting in China, the V20 will be the world’s first robotic vacuum cleaner equipped with dual-vision 3DToF solid-state LiDAR navigation and obstacle avoidance system, which observes the reflection of modulated light to offer better depth accuracy for even more intuitive floor mapping. With an ultra-thin 8.2cm body and equipped with FlexiArm DesignTM corner and edge cleaning, DuoRoller Riser Brush, and maintenance-free cleaning dock, the V20 is set to redefine automated, low maintenance cleaning.
Finally, the P10S Pro is positioned as the perfect partner for those hard-to-reach spots. Combining FlexiArm DesignTM with an extendable side brush and mop, the device provides 100% corner coverage and the ultimate in edge-cleaning, taking even the trickiest surfaces in its stride.
These solutions further solidify Roborock’s commitment to satisfying the needs of its customers in its fearless pursuit of innovation. Stay tuned for further market specific launch announcements of these innovations and more. 
About Roborock
Roborock is committed to innovation in researching, developing, and producing home cleaning devices, particularly robotic, cordless, and wet/ dry vacuum cleaners. Every Roborock product has been designed with an eye on solving genuine problems, so Roborock customers can live better lives. Currently, Roborock is available in more than 40 countries, including the U.S., Germany, France, and Spain. The company operates out of four locations, with offices in Beijing, Shanghai, Shenzhen, and Hong Kong. For more information visit https://global.roborock.com/.
[1] The data comes from Euromonitor International (Shanghai) Co., Ltd. The sales figures of robotic vacuum cleaners worldwide in the first three quarters of 2023 (in RMB hundred million) were used for calculation. Roborock ranks first in the industry. Robotic vacuum cleaner refers to vacuum cleaners that automatically move around rooms using sensors to clean floors. The research was completed in February 2024.
[2] Data based on IDC Quarterly Smart Home Device Tracker, 2023 Q4. Rankings for the US and Turkey are based on sales value, while rankings for Germany, the Nordic countries (Denmark, Finland, Norway, Sweden), and Korea are based on shipment volume
Photo – https://mma.prnewswire.com/media/2375122/PHOTO.jpg 

View original content:https://www.prnewswire.co.uk/news-releases/roborock-unveils-global-no1-robotic-vacuum-cleaner-sales-ranking-at-international-launch-event-302103463.html

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Cato Shatters SASE Speed Record

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Cato doubles throughput without any hardware upgrades, underscoring the value of a fully cloud-native platform.
TOKYO, March 29, 2024 /PRNewswire/ — Cato Networks, the SASE leader, announced a new SASE throughput record here at the Porsche Studio Ginza ahead of the 2024 Tokyo E-Prix, achieving 10 Gbps without hardware upgrades. At 10 Gbps, Cato became the first SASE platform to compete not only in the ABB FIA Formula E World Championship but also to deliver SASE performance so powerful that the TAG Heuer Porsche Formula E Team could transfer all the data of an entire Formula E season in under 2.5 hours instead of 3.5 days.

“We’re very excited to be partnering with the TAG Heuer Porsche Formula E Team at the 2024 Tokyo E-Prix,” says Shlomo Kramer, CEO and co-founder of Cato Networks. “The incredible speeds of the Gen3 racecars are only matched by the unprecedented throughput of Cato SASE Cloud. With 10 Gbps, we enable enterprises to replace their data center firewalls and enjoy all the benefits of a true, cloud-native SASE platform.”
Cato SASE Speed Record Up to 3x Other SASE Solutions on the Grid
As SASE continues its upmarket movement, higher capacity connections become essential for meeting various business needs such as bandwidth-intensive applications (cloud storage and backup, disaster recovery), hybrid clouds connecting two parts of the data center for inter-application processing, and large campuses.
To meet those challenges, Cato is introducing 10 Gbps throughput on a single, encrypted tunnel. The doubling of Cato Cloud Interconnect and Cato Socket performance comes without costly hardware upgrades, typical of appliance-based architectures. Compute-intensive operations that usually degrade edge appliance performance — packet encryption/decryption, security inspection, and the like — are handled by multiple Cato Single Pass Processing Engine (SPACE) cores, concurrently processing real-time traffic within Cato PoPs (Points of Presence). Parallel network flow processing is also enabled within the Cato Socket to maximize throughput end-to-end.
By contrast, SASE solutions implemented as virtual machines (VMs) in the cloud or modified web proxies remain limited to under 2 Gbps of throughput for a single tunnel. Appliance-based SASE
solutions top out at just under 3 Gbps. The lower throughputs force enterprises to artificially split traffic within locations across multiple tunnels from the edge appliance to the SASE PoP, a layer of complexity and risk that does not exist in Cato SASE Cloud.
Tokyo: A Place for Fast Cars and Fast Networks
The 2024 Tokyo E-Prix is the perfect venue to highlight Cato’s breakthrough performance. In the fast-paced world of Formula E, every second counts. The sport is intensively data-driven, where teams rely on their IT networks to analyze data and make critical, split-second strategy decisions to achieve a winning edge. Multiple computers in the car produce 100 to 500 billion data points per event, with more than 400 gigabytes of data generated and sent back to the cloud for analysis.
With 16 E-Prix this season, many in regions lacking Tokyo’s developed infrastructure, the ABB FIA Formula E Word Championship presents an incredible networking and security stress test. Cato SASE Cloud provides fast, secure, and reliable access to the TAG Heuer Porsche Formula E Team, regardless of location.
Tokyo, Osaka, and soon Sapporo form the three PoP locations within Japan. Within Tokyo, three Cato PoPs service the region; another two PoPs service Osaka. A sixth PoP is opening in Sapporo. Should users or locations lose access to any one PoP, they would immediately fail over to one of the other PoPs in Japan, providing the TAG Heuer Porsche Formula E Team and all Cato customers with incredibly reliable access in Tokyo – and across the globe.
To learn more about Cato SASE Cloud, visit us at https://www.catonetworks.com/platform/
To learn more about Cato’s partnership with the TAG Heuer Porsche Formula E Team, visit us at https://www.catonetworks.com/porsche-formula-e-team/.
About Cato Networks
Cato Networks is the leader in SASE, delivering enterprise security and networking in a single cloud platform. With Cato, organizations replace costly and rigid legacy infrastructure with an open and modular SASE architecture based on SD-WAN, a purpose-built global cloud network, and an embedded cloud-native security stack.
Want to learn why thousands of organizations secure their future with Cato? Visit us at www.catonetworks.com.

View original content:https://www.prnewswire.co.uk/news-releases/cato-shatters-sase-speed-record-302101273.html

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