Artificial Intelligence
CNOVA N.V. First Quarter 2023 Activity
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CNOVA N.V.
First quarter 2023 activity
| In a still challenging market where Cnova accelerated its shift towards marketplace, GMV stands at –15% like-for-like1, improving compared to Q4 (-16%). April current trading2 shows significant improvements compared to 1Q23: Marketplace back to growth at +5% (+9pts vs. 1Q23 y-o-y evolution) and Product GMV standing at -10% (+10pts vs. 1Q23 y-o-y evolution).
In this context, Cnova accelerated the pace of the transformation towards a profitable model with Gross Margin increasing by +6pts vs. 1Q22:
Q1 monthly performance and current trading confirming the acceleration of profitable growth drivers with sequential improvement of growth in Q1 and April current trading:
Efficiency plan to swiftly recalibrate SG&A & CAPEX level by end 2023 is on track to reach the July 2022 guidance of +€75m savings on a full-year basis by the end of the year, leading to significant and continuous improvement of profitability and operational cash in the 1st quarter. Over Q1, the Transformation Plan has been reinforced with a dedicated steering team and specific projects aiming at accelerating the pace of the plan with a €15m additional savings objective on a full-year basis, despite inflation headwinds.  Continuous development of Cnova’s ESG policy:
|
AMSTERDAM – April 26, 2023, 18:00 CET Cnova N.V. (Euronext Paris: CNV; ISIN: NL0010949392) (“Cnova”) today announced its first quarter 2023 activity.
Thomas Métivier, Cnova’s CEO, commented:
“In the 1st quarter of 2023, Cnova has accelerated the pace of its transformation, on all its strategic pillars: marketplace, advertising services and B2B development with the commercial success of Octopia and C-Logistic’s solutions.
The relevance of Cnova’s platform model is confirmed by an all-time high marketplace share and record high quarter for marketplace revenues, advertising services and B2B, thanks to the strength of the technological platform, the efficiency of our artificial intelligence algorithms and our network of 15,000 sellers and suppliers.
All those actions, combined with the efficiency plan and strong efforts to improve direct sales margins, have already delivered significant impact on profitability and free cash flow.
The transformation continues to accelerate with improving trends since the beginning of April.”
First Quarter 2023 Key Figures
| Financial performance (€ millions, GMV figures incl. VAT)
|
1Q23
|
1Q222
|
Change vs. 22 | |||
| Reported | L-f-L3 | |||||
| Total GMV | 712.4 | 909.2 | (21.6)%
|
(15.0)% | ||
| Ecommerce platform | 692.6 | 883.0 | (21.6)% | (14.7)% | ||
| o/w Direct sales | 251.6 | 372.8 | (32.5)% | |||
| o/w Marketplace | 328.9 | 341.5 | (3.7)% | |||
| Marketplace share | 56.7% | 47.8% | +8.9pts | |||
| o/w B2C Services | 36.2 | 73.2 | (50.5)% | +37.2% | ||
| o/w Other Revenues | 75.8 | 95.5 | (20.6)% | +5.8% | ||
| B2B activities | 19.8 | 26.1 | (24.2)% | |||
| o/w Octopia B2B revenues | 5.4 | 3.8 | +42.4% | |||
| o/w Octopia Retail & Others | 12.5 | 21.9 | (42.9)% | |||
| o/w C-Logistics | 2.0 | 0.4 | x5.5 | |||
| Total Net sales | 323.5 | 446.6 | (27.6)% | (24.2)% | ||
First Quarter 2023 Highlights
| GMV | 1Q23 |
| Total like-for-like2 growth | -15.0% |
| Marketplace growth | -3.7% |
| Travel growth | +37.6% |
| Octopia B2B revenue growth | +42.4% |
GMV posted a -15.0% like-for-like decrease in the 1st quarter 2023, confirming Cnova’s strategic choice to accelerate its platform revenues with the development of its marketplace, advertising services and B2B businesses with Octopia and C-Logistics. This year-on-year change was driven by:
- Direct Sales contributing -13.3pts (-32.5% y-o-y), as a result of the on-going voluntary strategic shift to marketplace, mostly for low contribution margin non-technical goods, but preserving and still benefiting from strengthened relationships with top international brands
- Marketplace contributing -1.4pt (-3.7% y-o-y) while delivering +9pts in GMV share. Cnova raised quality standards through better delivery services with 50.3% free express delivery share in the 1st quarter
- B2C Services contributing +1.1pt (+37.2% y-o-y), among which Travel alone brought +0.9pt to Cnova growth (+37.6% y-o-y)
- Octopia B2B revenues contributing positively to growth (+42% y-o-y) driven by Merchant-as-a-Service and Marketplace-as-a-Service revenue growth (x2 vs. 22), with the successful launches of 2 marketplaces (Bébéboutik and an international retailer) and accelerating Fulfilment-as-a-Service revenues with an increase in shipped parcels (+38% vs. 22)
- Octopia retail GMV contributed negatively for -1.0pt (-43% y-o-y) with Products-as-a-Service offer now focused on profitability as part of the transformation plan to drive profitable retail growth
| Marketplace | 1Q23 | Change vs. 1Q22 |
| Marketplace product GMV share | 56.7% | +8.9pts |
| Marketplace Fulfilment + Express sellers GMV share | 50.3% | +0.2pt |
| Marketplace revenues | €45.5m | +1.9% |
| Advertising services Product GMV take rate4 | 3.5% | +0.9pt |
Marketplace posting a 29pts y-o-y growth differential against first party sales, decreasing overall by -3.7%. Strong and regular customer satisfaction measured by the NPS at 55 (+11pts vs. 19 and steady vs. 22) led to a fast-increasing marketplace GMV share this quarter up to 56.7% (+8.9pts vs. last year). As part of this strategy, Fulfilment by Cdiscount and Express seller program continued to be very dynamic representing 50.3% of marketplace GMV in the 1st quarter 2023, an increase of 0.2pt vs. last year.
| Clients | 1Q23 |
| Active clients over the last 12 months | 8.1 |
| CDAV GMV share | 38.5% |
The loyalty program Cdiscount à Volonté (CDAV) represented 38.5% of total GMV in the 1st quarter 2023.
| Net Sales | 1Q23 |
| Total like-for-like2 growth | -24.2% |
Net Sales5 amounted to €323m (-24.2% like-for-like decrease vs. 22). This decrease is primarily driven by the voluntary mix improvement towards marketplace especially for non-technical goods categories with negative contribution margin.
Business Highlights
A record high marketplace GMV share with accelerated positive trends compared to pre-pandemic level:
- Marketplace reached all-time highest marketplace share in Q1 at 57% for the 1st quarter 2023 (+9pts vs. 22, +21pts vs. 19), mainly driven by home categories and new strategic partnerships, confirming the mix evolution towards more marketplace revenues. During the 1st quarter 2023, marketplace GMV was nearly stable (-4% vs. 22), in a context of strong inflation headwinds and macro-economic uncertainties
- New marketplace strategic partnerships were formed, including with a childcare specialist and a leading company specialized in consumer goods
- A new dedicated team of 20 collaborators was assembled to accelerate the recruitment and sales of the new Top sellers of the French, European and other international markets
Cnova continues the rationalization of its direct sales assortment with improving profitability and cash profile, supporting the overall Gross Margin increase.
This resilient performance for both direct sales and marketplace has been supported by disruptive offers launched this quarter, such as the new payment installment solution provided by Floa Bank for Apple products (including the possibility to trade an old device), and a strong and increasing customer satisfaction measured by the NPS at 55 (+11pts vs. 19, steady vs. 22).
Expansion of marketplace SKUs eligible to express delivery is a key driver of growth and customer satisfaction. It is also determinant to support the product mix re-orientation towards the marketplace:
- Cdiscount Express Seller, launched in 2019 for sellers able to offer express delivery to CDAV customers, reached a 15.4% marketplace GMV share for the 1st quarter 2023 (+4.1pts vs. 22)
- Fulfilment by Cdiscount marketplace GMV share stands at 34.9% for the 1st quarter 2023. A consequent effort is made to provide always more quality by recruiting top sellers with now a wider assortment than traditional retail sales
B2C Services showed a record performance:
- B2C Services GMV, excluding Energy, amounted to €36m in the 1st quarter 2023, reaching again a solid growth (+37% vs. 22, x2.6 vs. 19)
- Cdiscount Voyages (travel) experienced a significant acceleration with a GMV growth of +38% vs. 22 (x2.2 vs. 19)
- Cdiscount Mobile (cell phone plan) activity performed very well during the 1st quarter 2023 with a GMV growth of +36% vs. 22 (x7.2 vs. 19) and a strong increase in the subscriber base
Dynamic Advertising Services driven by Retail Media dynamics:
- Advertising services revenues reached €17m for Q1 (+9% vs. 22), with growing GMV take rate standing at 3.5% (+0.9pt vs. 22)
- Advertising services growth is mainly supported by Retail Media, which accounts for €13m of revenues for Q1 (+19% vs. 22) and allows both sellers and suppliers to reinforce their visibility and increase their sales
- Growth is also driven by a dynamic offer expansion, with the creation of new formats, such as the launch of “premium” shops for sellers (12 signed sellers)
Octopia’s B2B revenues know a strong commercial dynamic, driven by its turnkey marketplace solution for EMEA retailers and e-merchants:
- Successful launches of 2 marketplaces (Bébéboutik and an international retailer)
- Outperformed revenues on Fulfilment-as-a-Service, with an increase in shipped parcels (+38% vs. 22) and the development of the activity in Spain
- Acceleration of the selling volume on its sales channels (x21 GMV y-o-y) and acceleration of the number of sellers deployed
- Successful launch of the drop-shipping offer for sellers, with 38 active sellers at end of the quarter on Products-as-a-Service
C-Logistics is developing its B2B activities through the successful launch of its third party-logistic solution for a European sportswear company, a service quality above customers’ expectations and knows a strong ramp-up with an increase in the number of shipped parcels for external clients (x3 vs. 22), representing an increase of 2.2pts in C-Logistics total number of shipped parcels. New strategic transportation flows have been implemented, enabling products delivery in Europe, with Chronopost for Express Delivery and BPost for Standard Delivery.
C-Logistics is also optimizing its costs and adapting its structure with the rationalization of transportation offers and the increase in warehouses productivity.
C-Logistics ESG approach has been pursued with significant efforts to decrease its energy consumption (-21% vs. 22).
Environmental, social and societal stakes such as human capital, climate, business ethics and societal commitment are at the heart of Cnova’s B2B and B2C strategic development:
- Cnova is committed to promoting a more responsible consumption through its direct sales and marketplace product offer. Actions carried out by Cdiscount and Octopia aiming to develop “more sustainable products” (e.g., increasing the visibility of these products and guaranteeing affordable prices) enable a continuous acceleration of this offer. “More sustainable products” account for 15.2% of Cdiscount’s Product GMV at 1Q (+3.8pts vs. 22)
- Cnova is also taking action to reduce the impact of its operations:
- Thanks to actions undertaken with carriers, greenhouse gas emissions related to delivery of products sold by Cdiscount and shipped by C-Logistics have decreased by -19.2% on the 22 vs. 21 reporting period
- Cdiscount and C-Logistics have joined the study group dedicated to the writing of an AFNOR SPEC “E–commerce: information to consumers on the environmental impact of their delivery choice”, aiming to define a reference framework for environmental display when the consumer chooses its delivery method on Cdiscount’s website
- Cnova’s electricity and gas consumption has decreased by -25% in 22 vs. 19 (-15.9% vs. 21), overperforming objectives announced by Cnova in early Q4 as an answer to the national mobilization initiated by the government
- As a trustworthy partner, Cnova is committed to protect its clients. Cdiscount, which had already signed the Product Safety Pledge in 2020, has recommitted to consumer protection and signed the new version of the Product Safety Pledge at the European Consumer Summit organized by the European Commission
- Cnova pursues its social and societal commitment in favor of gender parity. Thanks to its Human Resources policy, Cnova’s consolidated gender equality index has increased by +0.2pt vs. 21
***
About Cnova N.V.
Cnova N.V., the French ecommerce leader, serves 8.1 million active customers via its state-of-the-art website, Cdiscount. Cnova N.V.’s product offering provides its B2C clients with a wide variety of very competitively priced goods, fast and customer-convenient delivery options, practical and innovative payment solutions as well as travel, entertainment and domestic energy services. Cnova N.V. also serves B2B clients internationally through Octopia (Marketplace-as-a-Service solutions), Cdiscount Advertising (advertising services for sellers and brands) and C-logistics (end-to-end logistic ecommerce solution). Cnova N.V. is part of Groupe Casino, a global diversified retailer. Cnova N.V.’s news releases are available at www.cnova.com. Information available on, or accessible through, the sites referenced above is not part of this press release.
This press release contains regulated information (gereglementeerde informatie) within the meaning of the Dutch Financial Supervision Act (Wet op het financieel toezicht) which must be made publicly available pursuant to Dutch and French law. This press release is intended for information purposes only.
***
1 Like-for-like figures exclude cross-canal sales and Cdiscount Energy GMV for 1Q22; 2 as of April 25th, 2023
2 2022 figures have been restated to take into account CChezVous disposal (discontinued operations)
3 Like-for-like figures exclude cross-canal sales and Cdiscount Energy GMV for Q122
4 Calculated as advertising services revenues divided by total product GMV excluding VAT (Marketplace GMV excl. VAT + Direct sales GMV excl. VAT)
5 Like-for-like figures exclude cross-canal sales and Cdiscount Energy GMV for Q122
Attachment
Artificial Intelligence
Data Center Chip Market Size was Valued at USD 11.7 Billion in 2022 and is Expected to Reach USD 45.3 Billion by 2032 at a CAGR of 14.6% | Valuates Reports
BANGALORE, India, July 26, 2024 /PRNewswire/ — Data Center Chip Market By Chip Type (GPU, ASIC, FPGA, CPU, Others), By Data Center Size (Small and Medium Size, Large Size), By Industry Verticals (BFSI, Manufacturing, Government, IT and Telecom, Retail, Transportation, Energy and Utilities, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032.
The Data Center Chip Market was valued at USD 11.7 Billion in 2022, and is estimated to reach USD 45.3 Billion by 2032, growing at a CAGR of 14.6% from 2023 to 2032.
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Major Factors Driving the Growth of Data Center Chip Market
Because of the growing need for data processing and storage solutions brought about by the quick development of cloud computing, artificial intelligence, and big data analytics, the data center chip market is expanding significantly. High-performance chips are necessary for data centers to process massive volumes of data quickly and efficiently. As a result, advances in chip technology, including CPUs, GPUs, and specialist AI processors, have been made. The need for more resilient and scalable data center infrastructure is fueled in part by the expansion of digital services and Internet of Things (IoT) devices. The market is expanding due to key areas including Asia-Pacific, with its investments in technology and fast digital transformation, and North America, with its top tech businesses and vast data center networks.
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TRENDS INFLUENCING THE GROWTH OF THE DATA CENTER CHIP MARKET:
In data centers, Graphics Processing Units (GPUs) are essential for speeding up computing operations and data processing. They are perfect for managing workloads related to artificial intelligence (AI), machine learning, and large-scale data analytics because of their parallel processing capabilities. The need for GPUs in data centers is growing as these technologies become increasingly essential to corporate operations. Businesses are purchasing GPUs in order to increase the effectiveness of their data processing, lower latency, and boost overall performance. The need for data center chips is being driven by the increasing reliance on GPUs for sophisticated computing activities, which is considerably contributing to the market’s rise. This need is further increased by the growing use of AI and machine learning in a variety of sectors, which puts GPUs at the forefront of the data center semiconductor industry.
Compared to general-purpose chips, Application Specific Integrated Circuits (ASICs) provide better performance and efficiency since they are designed specifically for a given application. ASICs are extensively utilized in data centers for specific tasks including networking, data compression, and encryption. ASICs are becoming more and more common as a result of the growth of cloud computing, big data analytics, and blockchain technology, which has increased demand for high-performance, energy-efficient processors. Their capacity to provide tailored performance for certain applications aids data centers in better workload management, power conservation, and operating expense reduction. The market is expanding as a result of the increased preference for ASICs in data centers, which is fueling the need for specialized data center chips.
Large data centers are important users of data center chips; they are run by well-known IT firms and cloud service providers. To manage enormous volumes of data and provide a wide range of services, these facilities need a great deal of processing power and sophisticated computing skills. High-performance data center chips are becoming more and more necessary as a result of the growth of massive data centers and the rising demand for online streaming, cloud services, and digital transactions. These chips are necessary to ensure effective data management, processing, and storage, which helps big data centers fulfill the increasing expectations of its clientele. Large data center proliferation is anticipated to considerably boost the data center chip industry as the digital economy continues to grow.
Data centers are becoming more and more important to the Banking, Financial Services, and Insurance (BFSI) industry as a means of safely and effectively managing high transaction volumes, consumer data, and financial records. The need for sophisticated data center processors is being driven by the sector’s requirement for real-time data processing, high-performance computing, and strong security measures. BFSI organizations may improve their operational efficiency, guarantee data integrity, and deliver superior client services by utilizing data centers fitted with robust chips. The BFSI sector’s need for data center chips is being driven by the increasing use of online banking, digital banking, and financial analytics tools, all of which increase the requirement for sophisticated data center infrastructure.
The market for data center chips is significantly influenced by the cloud computing industry’s explosive growth. There is a growing need for scalable, effective, and high-performance data center infrastructure as more companies move their operations to the cloud. In order to handle enormous volumes of data, facilitate virtualization, and guarantee flawless service delivery, cloud service providers need sophisticated data center chips. Sturdy data center chips are becoming more and more necessary as cloud-based solutions become more and more popular. Benefits like cost savings, flexibility, and scalability are driving this trend. In places like North America and Europe, where cloud adoption rates are high and data center chip demand is rising rapidly, this tendency is especially significant.
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DATA CENTER CHIP MARKET SHARE
In 2022, North America gained a sizable portion of the market.
In 2022, the GPU made up the largest portion of the market share.
Throughout the projection period, large data centers are expected to gain a significant portion.
The BFSI market is anticipated to be one of the most profitable markets.
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Key Companies:
Advanced Micro Devices IncTaiwan Semiconductor Manufacturing Company LimitedBroadcomHuawei Technologies Co LtdIntel CorporationNVidia CorporationSamsung Electronics Co LtdQualcomm Technologies IncGlobalFoundriesARM LIMITED (SOFTBANK GROUP CORP.)Purchase Chapters @ https://reports.valuates.com/request/chaptercost/ALLI-Auto-2B326/Data_Center_Chip_Market
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Artificial Intelligence
Industry 4.0 Market to Surpass USD 513.89 Billion by 2031 with Automation Surge | SkyQuest Technology
WESTFORD, Mass., July 26, 2024 /PRNewswire/ — According to SkyQuest, the global Industry 4.0 Market size was valued at USD 133.05 billion in 2022 and is poised to grow from USD 154.6 billion in 2023 to USD 513.89 billion by 2031, growing at a CAGR of 16.2% during the forecast period (2024-2031).
Industry 4.0 or the fourth industrial revolution emphasizes the use of automation and interconnectivity. Employment of advanced technologies such as artificial intelligence, machine learning, robotics, and connected devices to improve the productivity and efficiency of industries. Rapid digitization and advancements in technology are forecasted to bolster the Industry 4.0 market growth over the coming years. The global Industry 4.0 market is segmented into technology, industry vertical, and region.
Download a detailed overview:
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Industry 4.0 Market Overview:
Report Coverage
Details
Market Revenue in 2023
$ 154.6 billion
Estimated Value by 2031
$ 513.89 billion
Growth Rate
Poised to grow at a CAGR of 16.2%
Forecast Period
2024–2031
Forecast Units
Value (USD Billion)
Report Coverage
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered
Technology, Industry and Region
Geographies Covered
North America, Europe, Asia Pacific, Latin America, and Middle East and Africa.
Report Highlights
Internet of Things (IoT) technology takes centerstage for Industry 4.0 adoption
Key Market Opportunities
Adoption of smart manufacturing and additive manufacturing practices
Key Market Drivers
Rising demand for automation across all industry verticals
Segments covered in Industry 4.0 Market are as follows:
TechnologyRobots (Traditional Industrial Robots {Articulated robots, Cartesian Robots, Selective Compliance Assembly Robot Arm (SCARA), Cylindrical Robots, Others}, Collaborative Robots), Blockchain in Manufacturing, Industrial Sensors (Level Sensors, Temperature Sensors, Flow Sensors, Position Sensors, Pressure Sensors, Force Sensors, Humidity & Moisture Sensors, Gas Sensors), Industrial 3D Printing, Machine Vision (Camera {Digital Camera, Smart Camera}, Frame Grabbers, Optics, and LED Lighting, Processor and Software), HMI (Offering {Hardware [Basic HMI, Advanced Panel-based HMI, Advanced PC-based HMI, Others], Software [On-premises HMI, Cloud-based HMI], Services}), Configuration ({Embedded HMI, Standalone HMI}, Technology {Motion HMI, Bionic HMI, Tactile HMI, Acoustic HMI}, End-user Industry {Process industries [Oil & Gas, Food & beverages, Pharmaceuticals, Chemicals, Energy & power, Metals & mining, Water & wastewater, Others], Discrete industry [Automotive, Aerospace & defense, Packaging, Medical devices, Semiconductor & electronics, Others]}), AI In Manufacturing (Offering {Hardware [Processor MPU, GPU, FPGA, ASIC, Memory, Network], Software [AI solutions- | On-premises, Cloud |, AI platform- | Machine learning framework, Application program interface |], Services [Deployment & integration, Support & maintenance]}, Technology {Machine learning [Deep learning, Supervised learning, Reinforcement learning, Reinforcement learning, Others], Natural language processing [Context-aware computing, Computer vision]}, Application {Predictive maintenance and machinery inspection, Material movement, Production planning, Field services, Quality control, Cybersecurity, Industrial robots, Reclamation}, Digital Twin {Technology [Internet of Things (IOT), Blockchain, Artificial intelligence & machine learning, Artificial intelligence & machine learning, Big data analytics, 5G], Usage Type [Product digital twin, Process digital twin, System digital twin], Application [Product design & development, Performance monitoring, Predictive maintenance, Inventory management, Business optimization, Others]}, Automated Guided Vehicles (AGV) {Type [Tow vehicles, Unit load carriers, Pallet trucks, Assembly line vehicles, Forklift trucks, Others], Navigation Technology [Laser guidance, Magnetic guidance, Inductive guidance, Optical tape guidance, Vision guidance, Others]}, Machine Condition Monitoring {Monitoring Technique [Vibration monitoring, Embedded systems, Vibration analyzers and meters, Thermography, Oil analysis, Corrosion monitoring, Ultrasound emission, Motor current analysis], Offering [Hardware – Vibration sensors, Accelerometers, Tachometers, Infrared sensors, Spectrometers, Ultrasound detectors, Spectrum analyzers, Corrosion probes], Software [Data integration, Diagnostic reporting, Order tracking analysis, Parameter calculation], Deployment Type [On-premises deployment, Cloud deployment], Monitoring Process [Online condition monitoring, Portable condition monitoring]})IndustryManufacturing, Automotive, Energy, Medical, Semiconductor & Electronics, Food & Beverage, Oil & Gas, Aerospace, Metals & Mining, Chemicals, and OthersRequest Free Customization of this report:
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Internet of Things (IoT) Technology to Remain Indispensable for Industry 4.0
Internet of Things (IoT) remains the most crucial technology in global Industry 4.0 market growth owing to its role in interconnectivity and automation across different verticals. Advancements in connectivity technologies and rising use of automation in different industry verticals are also estimated to help this sub-segment gain an impressive market share. Surging demand for predictive maintenance will also boost the adoption of IoT technology in the long run.
Advanced robotic technologies are also slated to gain traction in the Industry 4.0 market. Growing acceptance of robots and high investments in advancements of robotic technologies are also slated to create new opportunities for providers of advanced robotics in the Industry 4.0 market. The low margin of error and the immense scope of automation are key benefits of robotics that help this sub-segment flourish.
Artificial intelligence (AI) will be another popular technology in the Industry 4.0 world going forward. Increasing demand for continuous monitoring, real-time analytics, and predictive maintenance are slated to help the demand for artificial intelligence in the future. The rising use of IoT devices will also boost the demand for cloud computing technology in the long run.
View report summary and Table of Contents (TOC):
https://www.skyquestt.com/report/industry-4-0-market
Manufacturing Vertical to Spearhead Industry 4.0 Market Development
The manufacturing vertical is estimated to be at the forefront when it comes to Industry 4.0 adoption. The surge in use of robotics, advanced technologies, and smart manufacturing practices sets the tone for Industry 4.0 in this industry vertical. High emphasis on improving manufacturing efficiency, reducing downtime, and maximizing profits are all contributing to the high market share of this sub-segment.
The automotive industry is another vertical where Industry 4.0 market players could invest to get good returns. The high adoption of advanced robotics and other smart manufacturing technologies to maximize production allows this sub-segment to become a crucial one for Industry 4.0 providers. The aerospace and defense industry vertical also shows a lot of promise for Industry 4.0 companies going forward. Growing demand for advanced manufacturing techniques and technologies to create complex aerospace components is helping Industry 4.0 market growth via this segment.
The oil & gas industry is also estimated to embrace Industry 4.0 trend with open hands as they try to improve their operations and promote better resource utilization. High demand for predictive maintenance to reduce downtime and the growing adoption of digital oilfield solutions are estimated to bolster Industry 4.0 market development in the long run.
To sum it up, the application scope for Industry 4.0 is endless as automation and digitization pick up pace around the world. High investments in development of IoT and AI technologies will create better opportunities for Industry 4.0 companies in the future. The manufacturing industry will remain the top revenue generating sub-segment and more opportunities for aerospace, automotive, and oil & gas verticals will be seen over the coming years.
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Artificial Intelligence
Generative AI Cybersecurity Market worth $40.1 billion by 2030 – Exclusive Report by MarketsandMarkets™
CHICAGO, July 26, 2024 /PRNewswire/ — The Generative AI cybersecurity Market is anticipated to experience substantial expansion, ascending from a value of USD 7.1 billion in 2024 to a substantial worth of USD 40.1 billion by the year 2030, according to a new report by MarketsandMarkets™. This growth trajectory reflects a robust compound annual growth rate (CAGR) of 33.4% over the forecast period.
Browse in-depth TOC on “Generative AI cybersecurity Market”
350 – Tables 60 – Figures450 – Pages
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Scope of the Report
Report Metrics
Details
Market size available for years
2019–2030
Base year considered
2023
Forecast period
2024–2030
Forecast units
USD (Million)
Segments Covered
Offering, Generative AI-based Cybersecurity, Cybersecurity for Generative AI, Security Type, End-user, and Region
Geographies covered
North America, Europe, Asia Pacific, Middle East & Africa, and Latin America
Companies covered
Microsoft (US), IBM (US), Google (US), SentinelOne (US), AWS (US), NVIDIA (US), Cisco (US), CrowdStrike (US), Fortinet (US), Zscaler (US), Trend Micro (Japan), Palo Alto Networks (US), BlackBerry (Canada), Darktrace (UK), F5 (US), Okta (US), Sangfor (China), SecurityScorecard (US), Sophos (UK), Broadcom (US), Trellix (US), Veracode (US), LexisNexis (US), Abnormal Security (US), Adversa AI (Israel), Aquasec (US), BigID (US), Checkmarx (US), Cohesity (US), Credo AI (US), Cybereason (US), DeepKeep (Israel), Elastic NV (US), Flashpoint (US), Lakera (US), MOSTLY AI (Austria), Recorded Future (US), Secureframe (US), Skyflow (US), SlashNext (US), Snyk (US), Tenable (US), TrojAI (Canada), VirusTotal (Spain), XenonStack (UAE), and Zerofox (US).
This dramatic surge is being fueled by a number of causes. The primary growth driver is the enhancement of existing cybersecurity tools through generative AI algorithms by improving anomaly detection, automating threat hunting and penetration testing, and providing complex simulations for security testing purposes. These techniques enable various cyber-attack scenarios that can be simulated using the Generative Adversarial Networks (GANs), thus enabling the development of better preparedness and response strategies. On the other hand, it requires special cyber security tools to protect generative AI workloads against unique vulnerabilities such as adversarial attacks, model inversions and LLM poisoning. These tools include differential privacy and secure multi-party computation that are integrated into AI systems for training and deployment data protection purposes.
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Generative AI apps security segment will account for largest market share during the forecast period.
The cybersecurity landscape is rapidly changing for generative AI apps, which are already making their way into chatbots, content creation tools like word processors, and personalized recommendation systems. According to McAfee, 55% of these programs have had security breaches. This highlights the dire need for stronger protective measures from unauthorized access. Several generative AI applications that use adversarial techniques to force the desired reaction out of intelligent machines.
Therefore, there is a pressing demand in the number of developers who ensure that such machines are made more robust through techniques like adversarially trained models and resistant architectures. Finally, the usage of secure enclaves plus hardware-based security measures is growing off late, mainly aimed at safeguarding vulnerable AI computations from being tampered with. For instance, OpenAI has very strict security rules meant to protect GPT models thereby ensuring data integrity and user privacy.
By end-user, government & defense sector is poised to account for larger market share in 2024.
Government as well as defense industries are increasingly resorting to generative AI for cyber security purposes due to the urgency of protecting sensitive information and national security. According to a recent CSIS report, AI is being integrated into the cybersecurity framework of 43% of government agencies which resultantly improves their ability to identify and counter threats. As an example, the United States Department of Defense has started using artificial intelligence (AI) based security solutions backed by generative AI that can create fictitious cyber-attacks, thereby providing them with enhanced preparedness against advanced types of threats.
This technology also helps these sectors handle and analyze large volumes of data more effectively, giving valuable insights that will enable them prevent or mitigate cyber threats. This trend demonstrates an increasing reliance on generative AI in fortifying cyber security measures so as to ensure that critical infrastructure and sensitive data remain secure in today’s intricate digital landscape.
By region, North America to hold the largest share by market value in 2024.
In 2024, North America will be the leading region based on market share due to its excellent technology infrastructure, substantial investments in AI-enabled cybersecurity and the presence of key players. Major cyber security research universities and tech companies such as Google, AWS, CrowdStrike, SentinelOne and IBM are present in this area, pushing them on the forefront of potent risk management technologies and generative AI tools for threat detection. For example, IBM’s security platform powered by AI has improved detection rates for threats up by 40%, thus proving the relevance of AI technology to enhancing cybersecurity.
Moreover, legislative instruments such as Cybersecurity Information Sharing Act (CISA) are being put in place to promote advanced cybersecurity technologies. As internet attacks continue getting more complicated, North American enterprises prefer generative artificial intelligence (AI), so as to enhance their safety measures pertaining to personal data and digital infrastructure.
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Top Key Companies in Generative AI cybersecurity Market:
The major players in the generative AI cybersecurity market include Palo Alto Networks (US), AWS (US), CrowdStrike (US), SentinelOne (US), and Google (US), along with SMEs and startups such as MOSTLY AI (Austria), XenonStack (UAE), BigID (US), Abnormal Security (US), and Adversa AI (Israel).
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