Artificial Intelligence
Eurora enters the US market, appointing e-commerce heavyweight Chris Lentjes to drive US expansion
- Pitney Bowes and DHL veteran brings more than 20+ years of experience in the e-commerce space
- Earlier this year, Anneli Aljas, the former VP of Finance at ride-hailing unicorn Bolt, joined as Global Chief Financial Officer to head Eurora’s expansion and growth
- The Company’s AI/ML-based platform automates tax, compliance and customs and duty services via a simple API integration
- Eurora’s AI/ML solution can automatically process 5,000 requests per second with up to 98% accuracy, the highest level of accuracy, speed, and automation available on the market
MIAMI, Fla. and TALLINN, Estonia, July 20, 2022 (GLOBE NEWSWIRE) — Eurora Solutions (‘Eurora’ or the ‘Company’), a provider of leading artificial intelligence machine learning (‘AI/ML’) backed cross-border e-commerce compliance platform, announces the appointment of Chris Lentjes as the CEO of the Company’s US operations and the opening of its US headquarters in Miami. Chris brings over 20 years of digital and physical e-commerce logistics experience, having worked at senior roles at Pitney Bowes and DHL.
A heavyweight who has been at the very forefront of the e-commerce industry
Pitney Bowes is a US global shipping and mailing company that provides technology, logistics, and financial services to more than 90 percent of the Fortune 500 companies. Most recently, Chris served as Vice President of Product Management, Delivery & Returns for Pitney Bowes Global e-commerce division and was responsible for developing strategy and delivering transportation and technology solutions for retailers, marketplaces, webshops and partners. Before joining Pitney Bowes, Chris spent 14 years at DHL, the international logistics and e-commerce giant. In his role as the Director of Product Management at the company’s e-commerce arm, Chris focused on simplifying and innovating international B2C e-commerce for retailers, partners and platforms between the USA and the rest of the world.
The appointment of Chris as CEO of Eurora’s US operations follows the Company’s successful US$40 million Series A funding round, which closed in April 2022. As announced by the Company at the time, the funds will be used for product development, potential add-on acquisitions and geographical expansion in the UK, the Middle East and the US, where further rapid and high growth in the sector is expected – having almost tripled in the past decade, global parcel shipping volumes are expected to reach over 260 billion parcels delivered by 2026.
Among Chris’s first tasks as CEO of Eurora’s US operations will be the establishment of a central US office in Miami as well as the building of a best-in-class expert team to drive the roll-out of the Company’s proprietary AI/ML-based platform, which automates tax, compliance and customs services.
Upcoming Eurora office/hub openings
As part of Eurora’s expansion plans and in addition to establishing a central US office in Miami, Eurora is looking to open a Scientific Research & Innovation Center in Tartu, Estonia, as well as an Engineering Hub in Dubai and a Central UK office in London. All of the above openings are expected to occur in H2 2022. The Company also plans to expand to Canada in the near future.
Eurora’s proprietary AI/ML-based platform
In spite of global supply chain issues, international trade is more popular than ever, and consumers are used to ordering goods from around the world. What they don’t like is being surprised by a large and unexpected tax bill. Eurora is a B2B platform that can be used by online sellers, marketplaces, logistics and postal companies to automatically create electronic declarations for duties and taxes via simple API integration. Using AI and ML, Eurora automatically processes 5,000 requests per second with up to 98% accuracy, the highest level of accuracy, speed, and automation available on the market. It also operates at a fraction of the time and price of hybrid or manual code allocation solutions commonly used today. When consumers are aware of and agree to any applicable taxes upfront, it greatly reduces shopping cart abandonment or package refusal at the point of delivery, both of which are big problems for retailers.
The problems the platform solves
The above is just one example of the platform’s functionality which also supports the efforts of e-commerce businesses to fulfill customer promises and reduce carbon footprints. Moreover, as global trade continues to grow – according to the United Nations Conference on Trade and Development (‘UNCTAD’) international trade is forecast to hit US$28.5 trillion in 2021, 25% higher than in 2020 – Eurora can help merchants fully capitalize on the opportunity this represents by providing solutions to potential pitfalls:
- the need to keep up with ever-changing cross-border regulations – Eurora’s database is constantly updated to incorporate the latest rules and regulations
- mitigating business risk – in 2019, the US Treasury Department’s Office of Foreign Assets Control issued almost US$1.3 billion in fines for sanction violations
- increased supply chain costs – according to the Wall Street Journal’s report, in 2021 business costs rose 22%
- the growing cost of returns – according to Pitney Bowes BoxPoll, US online retailers reported an average returns cost of 21% of the order value in April 2022. The National Retail Federation and Appriss Retail also reported that retailers expect to get back about 16.6% of the total merchandise that customers purchased in 2021. That’s a jump from an average return rate of 10.6% in 2020.
Marko Lastik, the founder and Group CEO of Eurora, said: “It is a mark of how far Eurora has come that we are in a position to welcome an executive of Chris’s calibre to the team. Chris has spent more than 20 years at the very forefront of the e-commerce industry; during this time, he has held senior positions with market-leading companies.
“We already have a proprietary e-commerce platform proven to deliver efficiencies and lower costs for merchants. Following Chris’s appointment, we have an e-commerce and transportation specialist to lead our drive into the huge US market, where Eurora shall target rapid expansion, particularly as increased regulatory pressure has resulted in severe setbacks and spiraling delays. Eurora offers a cutting-edge and cost-effective solution, and I look forward to working with Chris as we look to deliver this to the US market.”
Chris Lentjes, the CEO of Eurora USA, said: “I am delighted to be joining Eurora at this exciting stage in the Company’s development. With an established platform in place, a suite of high-impact solutions developed, and growth capital recently secured, Eurora is ideally positioned to help merchants speed up deliveries, reduce costs and at the same time increase customer satisfaction and trust.”
Photos: Please use the link here to access high quality images of the management team.
For more information, please contact:
About Eurora Solutions
Eurora uses artificial intelligence and machine learning to automatically manage cross-border VAT, duty amounts, and declarations. The company’s platform is already used by more than 200 clients to send millions of parcels every day. Eurora closed a $40 million Series A round in April 2022. The funds will be used for product development, potential add-on acquisitions and geographical expansion in the UK, the Middle East and the US, where further rapid and high growth in the sector is expected.
Eurora’s investors include Connected Capital, Equity United, Change Ventures and industry insiders like Roger Crook (former CEO, DHL Global Forwarding). Eurora was founded in 2018 by Marko Lastik, a global logistics expert with over 30 years of experience, most of it connected with Asia. The company has developed its proprietary AI/ML platform with scientists and grants from European Union Archimedes Fund since 2019. Eurora employs over 150 people in 15 countries with close to 100 open positions to be filled by the end of 2022.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/62c10f7a-7c93-4bdb-8e7a-4cfdc5b8e134
Artificial Intelligence
Internet of Things (IoT) in Smart Cities Market: Driving Adoption for a USD 795.98 Billion Future by 2031| SkyQuest Technology
WESTFORD, Mass., July 5, 2024 /PRNewswire/ — According to SkyQuest, the global Internet of Things (IoT) in Smart Cities Market size was valued at USD 148.60 billion in 2022 poised to grow from USD 179.06 billion in 2023 to USD 795.98 billion by 2031, growing at a CAGR of 20.5% in the forecast period (2024-2031).
The innovative IoT based smart city solutions are increasing the demand in various sectors. These solutions include analytics, security, cloud, and network connectivity. One of the major drivers of market expansion in smart cities is the rise of government initiatives and smart city projects. Growth in the use of IoT technologies for control and monitoring is expected to drive the market. High urban population density contributes to the growth. IoT devices, sensors and data analytics are all integrated into the concept of “smart cities” to enhance urban growth, efficiency and sustainability.
Download a detailed overview:
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Internet of Things (IoT) in Smart Cities Market Overview:
Report Coverage
Details
Market Revenue in 2023
USD 179.06 billion
Estimated Value by 2031
USD 795.98 billion
Growth Rate
Poised to grow at a CAGR of 20.5%
Forecast Period
2024–2031
Forecast Units
Value (USD Billion)
Report Coverage
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered
Offering and Application
Geographies Covered
North America, Europe, Asia Pacific, Middle East & Africa, Latin America
Report Highlights
Updated financial information / product portfolio of players
Key Market Opportunities
Evolving IoT Technology and Urban Transformation
Key Market Drivers
Rise in Adoption of IoT Technology
Segments covered in Internet of Things (IoT) in Smart Cities Market are as follows:
OfferingSolutions (Remote Monitoring, Real Time Location System, Data Management, Reporting and Analytics, Security, Network Management), And Services (Professional Services {Consulting, System Integration and Deployment, Support and Maintenance}, And Managed Services)ApplicationSmart Transportation, Smart Building, Utilities, Citizen Services (Education, Healthcare, Public Safety)Request Free Customization of this report:
https://www.skyquestt.com/speak-with-analyst/internet-of-things-in-smart-cities-market
Smart Infrastructure: IoT Offerings Shaping Tomorrow’s Cities
The solutions segment accounted for the largest share and dominate the market. The global internet of things (IoT) in smart cities market offers practical innovative solutions focused on integrated information that stores, processes and acts on large amounts of data generated by networked devices for real-time location system optimization and remote monitoring facilitates better monitoring and faster response.
On the other hand, the services segment of the global market is expected to grow the fastest in the smart city market. First, the challenges of adopting IoT solutions are increasing the need for consulting, integration and managed services, which require specialized skills. Second, cities depend on them tasks are raised to build, deploy and control customized solutions while aiming to maximize the value of IoT systems.
View report summary and Table of Contents (TOC):
https://www.skyquestt.com/report/internet-of-things-in-smart-cities-market
Transforming Urban Living: IoT Applications in Smart Cities
Real-time traffic management, predictive maintenance, and advanced public transport planning enabled by communication technologies and data analytics are the main areas of current innovation and applications in smart transportation in the world. There is scarcity of resources, pollution and traffic, and increased accessibility and security. Transportation is the largest segment in the global market by application.
In the market, public sector service centers are expected to grow rapidly due to the global IoT’s ability to improve lives for its inhabitants. It provides smart classrooms by academically enhancing the learning experience. IoT in healthcare enables smarter, more efficient and more efficient patient management, thus contributing to market expansion. It also provides comprehensive surveillance systems and emergency response measures that affect public safety. They have the potential to improve urban growth, efficiency and quality of life. Growing growth in IoT technology and public safety concerns are driving the rapid growth of the segment.
Smart Cities, Smarter Future: The Role of IoT
The Internet of Things (IoT) is changing the way smart cities work, offering unprecedented connectivity and integration. As cities become more connected, the use of IoT technology seamless integration becomes increasingly important in a sustainable environment. These connected devices and sensors can collect and analyze data in real time, allowing for more informed decision making.
Related Reports:
Internet Of Things (IoT) Market
IoT Security Market
Narrowband-IoT (NB-IoT) Market
Consumer IoT Market
Internet of Things (IoT) Professional Services Market
About Us:
SkyQuest is an IP focused Research and Investment Bank and Accelerator of Technology and assets. We provide access to technologies, markets and finance across sectors viz. Life Sciences, CleanTech, AgriTech, NanoTech and Information & Communication Technology.
We work closely with innovators, inventors, innovation seekers, entrepreneurs, companies and investors alike in leveraging external sources of R&D. Moreover, we help them in optimizing the economic potential of their intellectual assets. Our experiences with innovation management and commercialization has expanded our reach across North America, Europe, ASEAN and Asia Pacific.
Contact:Mr. Jagraj SinghSkyquest Technology1 Apache Way,Westford,Massachusetts 01886USA (+1) 351-333-4748Email: [email protected] Our Website: https://www.skyquestt.com/
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Artificial Intelligence
Cloud Security Market Will Surpass USD 147.45 Billion by 2031; Rise of Cloud Computing to Aid Growth| SkyQuest Technology
WESTFORD, Mass., July 5, 2024 /PRNewswire/ — According to SkyQuest, the global Cloud Security Market size was valued at USD 33.5 billion in 2022 and is poised to grow from USD 39.5 billion in 2023 to USD 147.45 billion by 2031, growing at a CAGR of 17.9% in the forecast period (2024-2031).
Increase in complexity of cyberattacks and data breaches has bolstered the demand for novel cloud security solutions around the world. The rising use of cloud technologies and platforms on a global level is also boosting the cloud security market growth. The high use of cloud computing and edge computing services by multiple organizations also creates a high demand for better cloud security infrastructure. The global cloud security market is segmented into type, service model, offering, end user, and region.
Download a detailed overview:https://www.skyquestt.com/sample-request/cloud-security-market
Cloud Security Market Overview:
Report Coverage
Details
Market Revenue in 2023
USD 39.5 billion
Estimated Value by 2031
USD 147.45 billion
Growth Rate
Poised to grow at a CAGR of 17.9%
Forecast Period
2024–2031
Forecast Units
Value (USD Billion)
Report Coverage
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered
Type, Service Model, End-User and Offering
Geographies Covered
North America, Europe, Asia Pacific, Middle East & Africa, Latin America
Report Highlights
Updated financial information / product portfolio of players
Key Market Opportunities
Digital Transformation Fortifying Cloud Security with AI and ML
Key Market Drivers
Rising demand for Cloud Computing and Cybersecurity through Advanced Data Solutions
Segments covered in Cloud Security Market are as follows:
TypeLegal Issues, Compliance, Governance, Virtualization, Data Security, Interface, Network SecurityService ModelSaaS (Software as a Service), IaaS (Infrastructure as a Service), PaaS (Platform as a Service)End-UserAerospace & Defence, Government, BFSI, Healthcare, IT, Telecommunication, Manufacturing, Retail, Energy & Utilities, Media & Entertainment, OthersOfferingSolutions, ServicesRequest Free Customization of this report:https://www.skyquestt.com/speak-with-analyst/cloud-security-market
Compliance to Remain a Key Cloud Security Concern for All Companies through 2031
Compliance has always been a key part of any security solution and the same is also true for cloud security as well. Regulatory bodies and governments have been implementing stricter laws and mandates to ensure the safety of data on cloud platforms. Ensuring compliance with these norms is essential for any cloud service provider, which is why a security solution that understands and manages compliance is always in demand. Ensuring cross-border compliance could help cloud security companies get more bang for their buck in the future.
Legal issues and data privacy concerns are also estimated to drive up the demand for novel cloud security solutions. Complex legal and regulatory frameworks are also contributing to the high adoption of cloud security with legal security features as well. Data and network security are also important aspects that cloud security providers need to emphasize going forward.
Cloud security Solutions to Remain Essential Securing a Cloud Environment
Cloud security solutions powered by artificial intelligence and other advanced technologies are being developed around the world. Deployment of different solutions for enterprise and individual cloud applications will also create new opportunities for cloud security market players over the coming years. Data loss prevention and disaster recovery are some key features of cloud security solutions that most companies are trying to improve. Meanwhile, the rapid adoption of cloud security is also creating a high demand for cloud security services as well. Cloud security providers are continually focusing on improving their services by offering round-the-clock support and predictive threat management services.
View report summary and Table of Contents (TOC):https://www.skyquestt.com/report/cloud-security-market
High Use of Cloud Platforms and Technologies in the IT Industry Creates an Opportune Setting for Cloud Security Vendors
The information technology (IT) industry has always led the adoption of novel technologies and the cloud is one of them. The rising use of cloud platforms and migration of traditional technologies in cloud environments are boosting the demand for cloud security in the IT industry. The BFSI industry will also offer new moneymaking scope for cloud security providers as it moves towards digitization and the incidence of digital frauds increases. Telecommunication end users are also expected to bolster the demand for novel cloud security solutions as they utilize cloud technology to become digital service providers. Adoption of automation and smart manufacturing practices in the manufacturing space will also promote the use of cloud platform, which in turn, is expected to boost cloud security demand as well.
Cloud security companies have a lot of potential to expand their business in many industry verticals. New companies can focus on providing services to build a strong market presence and then move on to making cloud security solutions to compete with the leading market players.
Related Report:
Cyber Security Market
Network Security Market
Endpoint Security Market
Managed Security Services Market
Application Security Market
About Us:
SkyQuest is an IP focused Research and Investment Bank and Accelerator of Technology and assets. We provide access to technologies, markets and finance across sectors viz. Life Sciences, CleanTech, AgriTech, NanoTech and Information & Communication Technology.
We work closely with innovators, inventors, innovation seekers, entrepreneurs, companies and investors alike in leveraging external sources of R&D. Moreover, we help them in optimizing the economic potential of their intellectual assets. Our experiences with innovation management and commercialization has expanded our reach across North America, Europe, ASEAN and Asia Pacific.
Contact:Mr. Jagraj SinghSkyquest Technology1 Apache Way,Westford,Massachusetts 01886USA (+1) 351-333-4748Email: [email protected] Our Website: https://www.skyquestt.com/
Logo: https://mma.prnewswire.com/media/2446095/SkyQuest_Logo.jpg
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Artificial Intelligence
Application Security Market to Surpass USD 17.51 Billion by 2031; Rising Incidence of Cyberattacks to Drive Market | SkyQuest Technology
WESTFORD, Mass., July 5, 2024 /PRNewswire/ — According to SkyQuest, the global Application Security Market size was valued at USD 5.28 Billion in 2022 and is poised to grow from USD 6.08 Billion in 2023 to USD 17.51 Billion by 2031, growing at a CAGR of 14.14 % during the forecast period (2024-2031).
High reliance on applications and growing digitization around the world are key factors that promote the demand for application security. Increasing sophistication and frequency of cyberattacks on a global scale is also predicted to augment the application security market growth trajectory across the forecast period. The imposition of stringent safety mandates by regulatory bodies is also bolstering the demand for better application security solutions. The global application security market is segmented into component, deployment mode, organization size, vertical, and region.
Download a detailed overview:
https://www.skyquestt.com/sample-request/application-security-market
Application Security Market Overview:
Report Coverage
Details
Market Revenue in 2023
USD 6.08 billion
Estimated Value by 2031
USD 17.51 billion
Growth Rate
Poised to grow at a CAGR of 14.14%
Forecast Period
2024–2031
Forecast Units
Value (USD Billion)
Report Coverage
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered
Type, Component, Deployment Model, Organization Size and Verticals
Geographies Covered
North America, Europe, Asia Pacific, Middle East & Africa, Latin America
Report Highlights
Updated financial information / product portfolio of players
Key Market Opportunities
Increased Number of Sophisticated Attacks
Key Market Drivers
The Rising Demands for Regulatory Compliance within Solution
Segments covered in Application Security Market are as follows:
TypeWeb Application Security, and Mobile Application SecurityComponentSolutions (Security Testing Tools (Static Application Security Testing (SAST), Dynamic Application Security Testing (DAST), Interactive Application Security Testing (IAST), Runtime Application Self-Protection (RASP)) Container Security, API Security, and Others Solution), and Services (Professional Services, (Consulting services, Training & Education, Integration and maintenance, Penetration Testing) Managed Services)Deployment ModeCloud and on-premisesOrganization SizeLarge Enterprises, and Small & Medium EnterprisesVerticalsBFSI, Healthcare, IT & ITES, Telecommunication, Manufacturing, Government and Public Sector, Retail & E-commerce, Education, and OthersRequest Free Customization of this report:
https://www.skyquestt.com/speak-with-analyst/application-security-market
On-premises Deployment of Application Security Solutions is Preferred for its Better Control and Flexibility
On-premises application security solutions and systems are usually handled by a company’s own employees, and this is why they are somewhat safer from cyberattacks or breaches. Little to no involvement of external personnel in the management and operation of on-premises application security is what gives the users and organizations the satisfaction of a better-secured application. Large enterprises are more inclined to opt for such solutions as this requires substantial capital investment and commitment over the long term.
Most application security companies are projected to target cloud deployment owing to rising awareness and acceptance of cloud technologies and platforms. Advancements in cloud computing technologies and the high emphasis of organizations on improving resource utilization are predicted to favor the demand for cloud-based application security solutions in the future.
View report summary and Table of Contents (TOC):
https://www.skyquestt.com/report/application-security-market
Large Enterprises More Inclined to opt for Application Security Solutions Owing to Their High Spending Capacity
Large enterprises use a variety of applications to ensure their operations and infrastructure run as intended. This includes third-party apps as well as internal company applications. The security of these applications is the priority as any lapses in them could lead to devastating data breaches and cyberattacks. Rising spending on large enterprises on improving their cybersecurity and specialized emphasis on application security is also making this segment an important one for application security providers. Small and medium enterprises (SMEs) are also expected to create new opportunities for application security companies in the future as application security becomes more affordable and important.
Software Tools to Remain Quintessential in Creating and Managing Application Security
Application security testing software is a key segment where almost all application security companies are focusing. Ensuring proper testing of application security is an essential task and any lapses in this could lead to vulnerabilities in applications that hackers can exploit. Multiple testing tools and testing approaches are being explored to ensure the efficacy of application security solutions.
Dynamic Application Security Testing (DAST) is gaining massive popularity around the world and all application security companies are trying to take this approach to maximize the security of their offerings. Investing in application security testing tools will never be a bad choice for any company looking to make a mark in the global application security market going forward.
Application security providers need to stay updated with new threats and incorporate the same in their products to stay relevant in the market. Investments in development of new application security solutions with advanced technologies and features should be the focus of upcoming as well as established application security market players in the long run.
Related Report:
Cyber Security Market
Blockchain Identity Management Market
Secure Access Service Edge Market
Zero Trust Security Market
Endpoint Security Market
About Us:
SkyQuest is an IP focused Research and Investment Bank and Accelerator of Technology and assets. We provide access to technologies, markets and finance across sectors viz. Life Sciences, CleanTech, AgriTech, NanoTech and Information & Communication Technology.
We work closely with innovators, inventors, innovation seekers, entrepreneurs, companies and investors alike in leveraging external sources of R&D. Moreover, we help them in optimizing the economic potential of their intellectual assets. Our experiences with innovation management and commercialization has expanded our reach across North America, Europe, ASEAN and Asia Pacific.
Contact:
Mr. Jagraj Singh SkyQuest Technology1 Apache Way,Westford,Massachusetts 01886USA (+1) 351-333-4748Email: [email protected] Our Website: https://www.skyquestt.com/
Logo: https://mma.prnewswire.com/media/2446095/SkyQuest_Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/application-security-market-to-surpass-usd-17-51-billion-by-2031-rising-incidence-of-cyberattacks-to-drive-market–skyquest-technology-302189924.html
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