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Handheld Backscatter X-Ray Devices Market Size is projected to reach USD 87.28 Million by 2030, growing at a CAGR of 6%: Straits Research

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New York, United States, March 15, 2023 (GLOBE NEWSWIRE) — Small, single-sided x-ray imagers like the Mini-Z handheld backscatter X-ray device can be used to scan objects in difficult-to-reach regions. Due to its compact size, it may be used to efficiently screen a variety of objects, including suspect bags and packages, walls, furniture, small boats, planes, tires, and car interiors. Since it efficiently detects organic threats, contraband, and explosives, the Mini-Z backscatter X-ray equipment is perfect for public safety, customs and border police, and security professionals. The Compton effect generates dispersed radiation (XBT) in X-ray backscatter technology. The item is lighted with a pencil beam that has a predetermined direction for backscatter imaging, and all of the backscattered radiation is gathered using large area detectors.

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Growing Need for Easy-To-Use and Highly Efficient Scanning Systems Drives the Global Market

The benefits of being lightweight and portable have been taken into account. Inspection is simplified and speeded up with a high-resolution touchscreen and display. Wi-Fi and cable connectivity are other technologies that substantially promote sharing and communication. Thanks to tools like this, users may easily share the specifics of their inspections. Due to its simplicity, public safety, customs, border enforcement, and security professionals deployed the backscatter X-ray system as a handheld detection tool for organic hazards, contraband, and explosives.

Each year, around 23 million individuals and over 14 million cars enter the nation through one of the 26 inspection lanes. As a result, these gadgets must be designed for prolonged use. Using efficient and user-friendly technology, such as handheld X-ray backscatter equipment, is essential to scan many vehicles safely. The available alternatives allow for touchscreens, instantaneous image display (in a fraction of a second), higher in-scan speed, lightweight (4-5 kg), and large devices.

Technological Advancements Creates Tremendous Opportunities 

The development of X-ray screening technology may make it easier to implement security screening systems in numerous locations. X-ray imaging systems also use various technologies, including standard X-ray, dual-energy, backscatter, and CT. Initial airport luggage screening methods used 2D X-ray technology. However, recently developed X-ray equipment that displays a 3D image of luggage has been created. By enabling viewers or operators to zoom in and rotate the bag for a 360-degree view, these technologies provide more comprehensive and precise information on the bag’s contents.

Report Scope

Report Metric Details
Market Size USD 87.28 Million by 2030
CAGR 6% (2022-2030)
Historical Data 2019-2020
Base Year 2021
Forecast Period 2022-2030
Forecast Units Value (USD Million)
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered By End-User
Geographies Covered North America, Europe, Asia-Pacific, LAME and Rest of the World
Key Companies Profiled/Vendors Rapiscan Systems Inc. (A Part of OSI Systems Inc.), Viken Detection (Formerly Heuresis Inc.), Nutech Company Limited
Key Market Opportunities X-Ray Technological Advancements
Key Market Drivers Growing Need for Easy-To-Use and Highly Efficient Scanning Systems

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Regional Analysis 

North America is the most significant shareholder in the global handheld backscatter x-ray devices market and is expected to grow at a CAGR of 6.15% during the forecast period. This region is home to most of the market’s manufacturers, including Rapiscan and Viken Detection, which account for the most significant market share. These companies have developed unique methods for producing portable backscatter X-ray machines. Cross-border security and law enforcement are two significant consumers of this technology. For instance, Viken announced its VALOR project in June 2020, which offered refurbished HBI-120 portable X-ray imagers to small, underfunded police agencies for free or at a reduced price. The company aims to decrease or combat the first issues local police have when dealing with opioids.

Asia-Pacific is anticipated to develop at a CAGR of 6.70%, generating USD 19.28 million during the projection period. Recent military exercises in the region also provide a ready market for handheld devices. Since it might be difficult for the troops of many Asian nations to locate buried landmines, IED and weapon detection are crucial components in preventing terrorist attacks. Despite improvements in India, Pakistan, and Afghanistan, South Asia was the region most impacted by terrorism in 2019. Other regional risks include trafficking prescription drugs, illegal tobacco, heroin, amphetamines, and other narcotics, and several customs violations. According to projections, local merchants will have a lot of opportunities in the Asia-Pacific region.

Europe, which includes countries like the United Kingdom, Germany, France, and Spain, is a large market for handheld backscatter X-ray machines. Due to the high frequency of drug smuggling in the region, law enforcement’s implementation primarily benefits market vendors. Few companies that operate in Europe also benefit from being first to market in terms of competitive advantage. For instance, the Rapiscan MINI Z system is a pioneer in portable Z Backscatter imaging technology for detecting organic threats and illicit drugs. Customs officers and law enforcement officials can also use it to scan walls, furniture, car interiors, and other objects for explosives, drugs, and money, thanks to its portable design.

Key Highlights

  • The global handheld backscatter x-ray devices market size is projected to reach USD 87.28 million by 2030, growing at a CAGR of 6% during the forecast period (2022-2030).
  • Based on end-user, the global handheld backscatter x-ray devices market is bifurcated into customs and border protection, law enforcement, critical infrastructure, military and defense, and others. The customs and border protection segment is the highest contributor to the market and is expected to grow at a CAGR of 6.20% over the forecast period.
  • North America is the most significant shareholder in the global handheld backscatter x-ray devices market and is expected to grow at a CAGR of 6.15% during the forecast period.

Competitive Players

The global handheld backscatter x-ray devices market’s major key players are Rapiscan Systems Inc. (A Part of OSI Systems Inc.), Viken Detection (Formerly Heuresis Inc.), and Nutech Company Limited.

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Global Handheld Backscatter X-Ray Devices Market: Segmentation

By End-User

  • Customs and Border Protection
  • Law Enforcement
  • Critical Infrastructure
  • Military and Defense
  • Other End-Users

By Regions

  • North America
  • Europe
  • Asia-Pacific
  • LAMEA

TABLE OF CONTENT

  1. EXECUTIVE SUMMARY
  2. RESEARCH SCOPE & SEGMENTATION
    1. Research Objectives
    2. Market Definition
    3. Limitations & Assumptions
    4. Market Scope & Segmentation
    5. Currency & Pricing Considered
  3. MARKET OPPORTUNITY ASSESSMENT
    1. Emerging Regions / Countries
    2. Emerging Companies
    3. Emerging Applications / End Use
    4. Investment Landscape
    5. New Business Models / Revenue Streams
    6. TAM
  4. MARKET TRENDS
    1. Drivers
    2. Market Warning Factors
    3. Latest Macro Economic Indicators
    4. Geopolitical Impact
    5. Human Factors
    6. Technology Factors
  5. MARKET ASSESSMENT
    1. Porters Five Forces Analysis
    2. Value Chain Analysis
    3. Sales And Distribution Channel Analysis
    4. Trade Analysis
    5. Average Pricing Analysis
    6. Patent Analysis
    7. M & A Agreements & Collabration Analysis
    8. Cost Structure Analysis
  6. ESG TRENDS
  7. GLOBAL HANDHELD BACKSCATTER X-RAY DEVICES MARKET SIZE ANALYSIS
    1. Global Handheld Backscatter X-Ray Devices Market Introduction
    2. By End-User
      1. Introduction
        1. End-User By Value
      2. Customs And Border Protection
        1. By Value
      3. Law Enforcement
        1. By Value
      4. Critical Infrastructure
        1. By Value
      5. Military And Defense
        1. By Value
      6. Other End-Users
        1. By Value
  8. NORTH AMERICA MARKET ANALYSIS
    1. Introduction
    2. By End-User
      1. Introduction
        1. End-User By Value
      2. Customs And Border Protection
        1. By Value
      3. Law Enforcement
        1. By Value
      4. Critical Infrastructure
        1. By Value
      5. Military And Defense
        1. By Value
      6. Other End-Users
        1. By Value
    3. U.S.
      1. By End-User
        1. Introduction
          1. End-User By Value
        2. Customs And Border Protection
          1. By Value
        3. Law Enforcement
          1. By Value
        4. Critical Infrastructure
          1. By Value
        5. Military And Defense
          1. By Value
        6. Other End-Users
          1. By Value
    4. Canada
  9. EUROPE MARKET ANALYSIS
    1. Introduction
    2. By End-User
      1. Introduction
        1. End-User By Value
      2. Customs And Border Protection
        1. By Value
      3. Law Enforcement
        1. By Value
      4. Critical Infrastructure
        1. By Value
      5. Military And Defense
        1. By Value
      6. Other End-Users
        1. By Value
    3. U.K.
      1. By End-User
        1. Introduction
          1. End-User By Value
        2. Customs And Border Protection
          1. By Value
        3. Law Enforcement
          1. By Value
        4. Critical Infrastructure
          1. By Value
        5. Military And Defense
          1. By Value
        6. Other End-Users
          1. By Value
    4. Germany
    5. France
    6. Spain
    7. Italy
    8. Russia
    9. Nordic
    10. Benelux
    11. Rest Of Europe
  10. APAC MARKET ANALYSIS
    1. Introduction
    2. By End-User
      1. Introduction
        1. End-User By Value
      2. Customs And Border Protection
        1. By Value
      3. Law Enforcement
        1. By Value
      4. Critical Infrastructure
        1. By Value
      5. Military And Defense
        1. By Value
      6. Other End-Users
        1. By Value
    3. China
      1. By End-User
        1. Introduction
          1. End-User By Value
        2. Customs And Border Protection
          1. By Value
        3. Law Enforcement
          1. By Value
        4. Critical Infrastructure
          1. By Value
        5. Military And Defense
          1. By Value
        6. Other End-Users
          1. By Value
    4. Korea
    5. Japan
    6. India
    7. Australia
    8. Taiwan
    9. South East Asia
    10. Rest Of Asia-Pacific
  11. MIDDLE EAST AND AFRICA MARKET ANALYSIS
    1. Introduction
    2. By End-User
      1. Introduction
        1. End-User By Value
      2. Customs And Border Protection
        1. By Value
      3. Law Enforcement
        1. By Value
      4. Critical Infrastructure
        1. By Value
      5. Military And Defense
        1. By Value
      6. Other End-Users
        1. By Value
    3. UAE
      1. By End-User
        1. Introduction
          1. End-User By Value
        2. Customs And Border Protection
          1. By Value
        3. Law Enforcement
          1. By Value
        4. Critical Infrastructure
          1. By Value
        5. Military And Defense
          1. By Value
        6. Other End-Users
          1. By Value
    4. Turkey
    5. Saudi Arabia
    6. South Africa
    7. Egypt
    8. Nigeria
    9. Rest Of MEA
  12. LATAM MARKET ANALYSIS
    1. Introduction
    2. By End-User
      1. Introduction
        1. End-User By Value
      2. Customs And Border Protection
        1. By Value
      3. Law Enforcement
        1. By Value
      4. Critical Infrastructure
        1. By Value
      5. Military And Defense
        1. By Value
      6. Other End-Users
        1. By Value
    3. Brazil
      1. By End-User
        1. Introduction
          1. End-User By Value
        2. Customs And Border Protection
          1. By Value
        3. Law Enforcement
          1. By Value
        4. Critical Infrastructure
          1. By Value
        5. Military And Defense
          1. By Value
        6. Other End-Users
          1. By Value
    4. Mexico
    5. Argentina
    6. Chile
    7. Colombia
    8. Rest Of LATAM
  13. COMPETITIVE ASSESSMENT
    1. Adoption Matrix
    2. Handheld Backscatter X-Ray Devices Market Share By Manufacturers
    3. Handheld Backscatter X-Ray Devices Market Ranking By Revenue For Manufacturers
    4. Average Price By Manufacturers
    5. Vendor Footprint Analysis
  14. MARKET PLAYERS ASSESSMENT
    1. Rapiscan Systems Inc. (A Part Of OSI Systems Inc.)
      1. Overview
      2. Business Information
      3. Revenue
      4. ASP
      5. Gross Margin
      6. Swot Analysis
      7. Recent Developmments
    2. Viken Detection (Formerly Heuresis Inc.)
    3. Nutech Company Limited
  15. RESEARCH METHODOLOGY
    1. Research Data
      1. Secondary Data
        1. Major Secondary Sources
        2. Key Data From Secondary Sources
      2. Primary Data
        1. Key Data From Primary Sources
        2. Breakdown Of Primaries
      3. Secondary And Primary Research
        1. Key Industry Insights
    2. Market Size Estimation
      1. Bottom-Up Approach
      2. Top-Down Approach
      3. Market Projection
    3. Research Assumptions
      1. Assumptions
    4. Limitations
    5. Risk Assessment
  16. APPENDIX
    1. Discussion Guide
    2. Customization Options
    3. Related Reports
  17. DISCLAIMER

Table of Content @ https://straitsresearch.com/report/handheld-backscatter-x-ray-devices-market/toc

Market News

  • In August 2022, The Security division of OSI Systems, Inc. received a USD 22 million order for full service, maintenance, and spare parts support for various Rapiscan® cargo and vehicle inspection (CVI) systems deployed worldwide. “We are glad to provide repair and support on our existing cargo inspection systems in the field and look forward to aiding this customer’s ongoing mission to defend borders,” said Deepak Chopra, Chairman, and CEO of OSI Systems.
  • In June 2021, Viken Detection, a pioneer in x-ray imaging, chemical detection, and environmental analytical solutions, officially unveiled the FOXHOUND-HNATM. The Viken handheld narcotics analyzer’s tri-mode capability and design are intended for general usage in law enforcement operations and are geared for drug interdiction.

News Media

Global Law Enforcement Software Market to Grow at a CAGR of 10.4% During 2020 –2030

Artificial Intelligence to Complement the Facial Recognition Technology.

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About Straits Research Pvt. Ltd.

Straits Research is a market intelligence company providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision-makers. Straits Research Pvt. Ltd. provides actionable market research data, especially designed and presented for decision-making and ROI.

Whether you are looking at business sectors in the next town or crosswise over continents, we understand the significance of being acquainted with the client’s purchase. We overcome our clients’ issues by recognizing and deciphering the target group and generating leads with utmost precision. We seek to collaborate with our clients to deliver a broad spectrum of results through a blend of market and business research approaches.

For more information on your target market, please contact us below:

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Artificial Intelligence

Oncolytics Biotech® Announces Upcoming Presentations at the American Society of Clinical Oncology Annual Meeting

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SAN DIEGO and CALGARY, AB, April 25, 2024 /PRNewswire/ — Oncolytics Biotech® Inc. (NASDAQ: ONCY) (TSX: ONC), a leading clinical-stage company specializing in immunotherapy for oncology, today announced the acceptance of two abstracts at the 2024 American Society of Clinical Oncology (ASCO) Annual Meeting, which is taking place from May 31 – June 4, 2024, in Chicago, Illinois. Details on the abstracts and poster presentation are shown below.

Title: Phase 1/2 randomized, open-label, multicenter, Simon two-stage study of pelareorep combined with modified FOLFIRINOX +/- atezolizumab in patients with metastatic pancreatic ductal adenocarcinoma.
Presentation Type: PosterAbstract Number: TPS4203Session Title: Gastrointestinal Cancer – Gastroesophageal, Pancreatic, and HepatobiliarySession Date and Time: June 1, 2024, 1:30 – 4:30 p.m. CTTitle: Pelareorep driven blood TIL expansion in patients with pancreatic, breast and colon cancer.Presentation Type: Online abstractAbstract Number: e14625
Abstracts will be published on the ASCO Annual Meeting website at 5:00 p.m. ET on May 23, 2024.
About Oncolytics Biotech Inc.
Oncolytics is a clinical-stage biotechnology company developing pelareorep, an intravenously delivered immunotherapeutic agent. Pelareorep has demonstrated promising results in two randomized Phase 2 studies in metastatic breast cancer and Phase 1 and 2 studies in pancreatic cancer. It acts by inducing anti-cancer immune responses and promotes an inflamed tumor phenotype — turning “cold” tumors “hot” — through innate and adaptive immune responses to treat a variety of cancers.
Pelareorep has demonstrated synergies with multiple approved oncology treatments. Oncolytics is currently conducting and planning combination clinical trials with pelareorep in solid and hematological malignancies as it advances towards registrational studies in metastatic breast cancer and pancreatic cancer, both of which have received Fast Track designation from the FDA. For further information, please visit: www.oncolyticsbiotech.com or follow the company on social media on LinkedIn and on X @oncolytics.
 
Company Contact
Jon Patton
Director of IR & Communication
[email protected]
 
Investor Relations for Oncolytics
Timothy McCarthy
LifeSci Advisors
+1-917-679-9282
[email protected]
 
 

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Artificial Intelligence

Internet of Things (IoT) Market to Expand at a Stellar 19.4% CAGR through 2031 | SkyQuest Technology

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WESTFORD, Mass., April 25, 2024 /PRNewswire/ — SkyQuest projects that the Internet of Things (IoT) Market will attain a value of USD 1572.37 billion by 2031, with a CAGR of 19.4% over the forecast period (2024-2031). Internet of Things (IoT) refers to the network of connected devices over the internet that are embedded with sensors and software. Growing adoption of automation around the world and advancements in connected device technologies are forecasted to be key factors driving the Internet of Things (IoT) market growth in the future.

Download a detailed overview:
https://www.skyquestt.com/report/internet-of-things-market
Browse in-depth TOC on “Internet of Things (IoT) Market”
Pages – 197Tables – 69Figures – 75Internet of Things (IoT) Market Overview:
Report Coverage
Details
Market Revenue in 2023
$ 380.6 billion
Estimated Value by 2031
$1572.37 billion
Growth Rate
Poised to grow at a CAGR of 19.4%
Forecast Period
2024–2031
Forecast Units
Value (USD Billion)
Report Coverage
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered
Component Type, Application, and Region
Geographies Covered
North America, Europe, Asia Pacific, and the Rest of the world
Report Highlights
Updated financial information / product portfolio of players
Key Market Opportunities
Rising demand for connected healthcare and growing use of industrial automation solutions
Key Market Drivers
Advancements in connectivity and connected device technologies
 
 
Hardware is Estimated to Dominate the Global Market Share Owing to High Use of Hardware Components in IoT
Hardware components such as sensors and actuators are highly vital to the proper functioning of any kind of Internet of Things (IoT) device. Growing adoption of IoT devices in different industry verticals for various applications is promoting market growth via this segment. The development of new hardware solutions also helps this segment maintain its dominance.
Smart Agriculture is the Fastest-growing Segment Owing to Rising Adoption of Precision Agriculture Practice
Rising emphasis on improving agricultural yield and sustainability has resulted in the growing adoption of smart agriculture and precision agriculture practices. IoT devices play a crucial role in monitoring and controlling different elements of a smart agriculture setup that is mostly automated using different smart devices thereby contributing to the IoT market growth as well.
Growing Adoption of 5G Technology Allowing North America to Dominate the Global Internet of Things (IoT) Market
Rapid adoption of 5G technology and high use of cloud-based platforms are key factors allowing North America to lead the demand for Internet of Things (IoT) around the world. Surging investments in the research and development of advanced technologies and the presence of key tech giants such as Amazon, Google, IBM, and Microsoft also helps the dominance of this region. Canada and the United States remain the most lucrative markets for Internet of Things (IoT) companies in North America through 2031.
Request Free Customization of this report:
https://www.skyquestt.com/speak-with-analyst/internet-of-things-market
Internet of Things (IoT) Market Insights:
Drivers
Advancements in connectivity and connected device technologies.Growing demand for Industrial IoT (IIoT) solutions.Increasing number of smart cities and development of smart infrastructure.Restraints
Lack of standardization of IoT devices and technologies.Privacy and data security issues.Interoperability challenges and complex integration scenarios.Prominent Players in Internet of Things (IoT) Market
MicrosoftCisco SystemsIntelSiemens (Germany)AWS (US)Oracle (US)Qualcomm (UK)SAP (Germany)IBM (US)Google (US)View report summary and Table of Contents (TOC):
https://www.skyquestt.com/report/internet-of-things-market
Key Questions Answered in Internet of Things (IoT) Market Report
What are the top drivers for Internet of Things (IoT) market going forward?Who are the leading Internet of Things (IoT) market players?Where will demand for Internet of Things (IoT) be high?Which component accounts for a dominant revenue share of the global Internet of Things (IoT) market?This report provides the following insights:
Analysis of key drivers (advancements in connectivity and connected device technologies, growing demand for industrial IoT (IIoT), development of smart infrastructure for smart cities, growing use of smart devices ), restraints (lack of standardization, complexities in integration, concerns regarding security and privacy of data), and opportunities (rising popularity of connected healthcare, increasing adoption of Industry 4.0, rising use of industrial automation), influencing the growth of Internet of Things (IoT) market.Market Penetration: All-inclusive analysis of product portfolio of different market players and status of new product launches.Product Development/Innovation: Elaborate assessment of R&D activities, new product development, and upcoming trends of the Internet of Things (IoT) market.Market Development: Detailed analysis of potential regions where the market has potential to grow.Market Diversification: Comprehensive assessment of new product launches, recent developments, and emerging regional markets.Competitive Landscape: Detailed analysis of growth strategies, revenue analysis, and product innovation by new and established market players.Related Reports:
Global Internet of Things in Retail Market
Global Internet of Things (IoT) in Agriculture Market
Global Internet of Things (IoT) Microcontroller Market
Global IOT In Healthcare Market
Global IOT in Manufacturing 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/

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Sapiens Unveils Enhanced Reinsurance and Analytics Solution Catering to Evolving Market Demands

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Latest version enhances operational efficiency, regulatory reporting, and strategic decision-making with robust business insights
ROCHELLE PARK, N.J., April 25, 2024 /PRNewswire/ — Sapiens International Corporation, (NASDAQ: SPNS) (TASE: SPNS), a leading global provider of software solutions for the insurance industry, today announced the launch of its latest version of Sapiens ReinsuranceMaster.

The new release of Version 9 brings a multitude of enhancements and technology stack updates, designed to empower insurers and reinsurers with robust, enriched functionality to support business requirements. This includes automating global inter-company retrocession, facilitating U.S. NAIC statutory reporting (Schedule F), and real-time reinsurance allocation support (‘reinsurance as a service’).
The latest release offers a multitude of enhancements, with one of the standout features being the seamless integration of Sapiens Intelligence with Sapiens ReinsuranceMaster. This integration empowers users with advanced data capabilities and actionable insights through out-of-the-box reinsurance reports and analytics of the reinsurance portfolio’s performance.
In addition, the new release brings significant improvements to the user experience, with a revamped user interface, enhancements in processing performance through improvements and parallel processing mechanisms, improved scalability and operability. 
“With the growing significance of reinsurance in today’s volatile environment, our latest version of Sapiens ReinsuranceMaster with Sapiens Intelligence offers even greater value to insurers and reinsurers, catering to the ever-changing demands of this dynamic market,” said Roni Al-Dor, Sapiens President & CEO. “Leveraging the shared experience from our other products as well as requirements from our global client base, the solution is now very well-positioned to support global automation of complex reinsurance programs and provide management with insights into reinsurance performance as well as statutory reporting.”  
Sapiens ReinsuranceMaster is a comprehensive, single platform for large and multi-national reinsurance programs, providing full financial control and flexibility across all lines of business. The solution supports the entire range of reinsurance contracts, providing full support for all auditing requirements and a consolidated view of liabilities and risks, as well as helping prevent financial leakage.
Sapiens Intelligence, now a fully integrated component of Sapiens ReinsuranceMaster v.9, produces actionable insights to maximize the value of data and KPIs for smarter decision making, improving reinsurance business management.
About Sapiens  
Sapiens International Corporation (NASDAQ and TASE: SPNS) empowers the financial sector, with a focus on insurance, to transform and become digital, innovative, and agile. With more than 40 years of industry expertise, Sapiens’ cloud-based SaaS insurance platform offers pre-integrated, low-code capabilities across core, data, and digital domains to accelerate our customers’ digital transformation. Serving over 600 customers in more than 30 countries, Sapiens offers insurers across property and casualty, workers’ compensation, and life insurance markets the most comprehensive set of solutions, from core to complementary, including Reinsurance, Financial & Compliance, Data & Analytics, Digital, and Decision Management. For more information visit https://sapiens.com or follow us on LinkedIn  
Investor and Media Contact : Yaffa Cohen-Ifrah Sapiens Chief Marketing Officer and Head of Investor Relations Email: [email protected] 
Forward Looking Statements
Certain matters discussed in this press release that are incorporated herein and therein by reference are forward-looking statements within the meaning of Section 27A of the Securities Act, Section 21E of the Exchange Act and the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995, that are based on our beliefs, assumptions and expectations, as well as information currently available to us. Such forward-looking statements may be identified by the use of the words “anticipate,” “believe,” “estimate,” “expect,” “may,” “will,” “plan” and similar expressions. Such statements reflect our current views with respect to future events and are subject to certain risks and uncertainties. There are important factors that could cause our actual results, levels of activity, performance or achievements to differ materially from the results, levels of activity, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to:  the degree of our success in our plans to leverage our global footprint to grow our sales; the degree of our success in integrating the companies that we have acquired through the implementation of our M&A growth strategy; the lengthy development cycles for our solutions, which may frustrate our ability to realize revenues and/or profits from our potential new solutions; our lengthy and complex sales cycles, which do not always result in the realization of revenues; the degree of our success in retaining our existing customers or competing effectively for greater market share; the global macroeconomic environment, including headwinds caused by inflation, relatively high interest rates, potentially unfavorable currency exchange rate movements, and uncertain economic conditions, and their impact on our revenues, profitability and cash flows; difficulties in successfully planning and managing changes in the size of our operations; the frequency of the long-term, large, complex projects that we perform that involve complex estimates of project costs and profit margins, which sometimes change mid-stream; the challenges and potential liability that heightened privacy laws and regulations pose to our business; occasional disputes with clients, which may adversely impact our results of operations and our reputation; various intellectual property issues related to our business; potential unanticipated product vulnerabilities or cybersecurity breaches of our or our customers’ systems; risks related to the insurance industry in which our clients operate; risks associated with our global sales and operations, such as changes in regulatory requirements, wide-spread viruses and epidemics like the coronavirus epidemic,  and fluctuations in currency exchange rates; and risks related to our principal location in Israel and our status as a Cayman Islands company.
While we believe such forward-looking statements are based on reasonable assumptions, should one or more of the underlying assumptions prove incorrect, or these risks or uncertainties materialize, our actual results may differ materially from those expressed or implied by the forward-looking statements. Please read the risks discussed under the heading “Risk Factors” in our Annual Report on Form 20-F for the year ended December 31, 2023, to be filed in the near future, in order to review conditions that we believe could cause actual results to differ materially from those contemplated by the forward-looking statements. You should not rely upon forward-looking statements as predictions of future events. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee that future results, levels of activity, performance and events and circumstances reflected in the forward-looking statements will be achieved or will occur. Except as required by law, we undertake no obligation to update publicly any forward-looking statements for any reason, to conform these statements to actual results or to changes in our expectations.
 
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