Artificial Intelligence
Bosch aims to accelerate regional and sectoral growth
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Stuttgart and Renningen, Germany, May 05, 2023 (GLOBE NEWSWIRE) —
- 2022 business year provides solid basis for the future
- Targets for 2022 business year achieved: sales of 88.2 billion euros / earnings of 3.8 billion euros / EBIT margin from operations of 4.3 percent
- Outlook for 2023: global economic growth of 1.7 percent / sales to grow 6 to 9 percent / EBIT margin from operations in the region of 5 percent
- Heavy investments in securing the future: more than 12 billion euros R&D and capital expenditure in 2022
- Bosch in North America achieves double-digit growth in 2022; investing more in 2023 and beyond
- Realignment of mobility business: business sector aiming for sales of more than 80 billion euros by 2029
- Stefan Hartung: “With technology ‘Invented for life,’ our aim is to grow in every region of the world and to be among the leading three suppliers in our relevant markets.”
- Markus Forschner: “In 2023, we want to come one step closer to our long-term target of at least 7 percent margin.”
In 2022, Bosch exceeded its business targets in what was a challenging year. The supplier of technology and services increased its total sales to 88.2 billion euros, following 78.7 billion euros the previous year. This is an increase of 12.0 percent, or an exchange rate-adjusted 9.4 percent. At 3.8 billion euros, EBIT (earnings before interest and taxes) from operations is also higher than the previous-year figure of 3.2 billion euros. The EBIT margin from operations rose from 4.0 to 4.3 percent. Presenting the company’s annual figures, Dr. Stefan Hartung, the chairman of the board of management of Robert Bosch GmbH, said: “We rose well to the challenges of 2022 – both our sales and our margin were higher than expected. And even if the economic and social environment remains demanding, we want to grow significantly faster.”
In the years ahead, given normal rates of inflation, the aim is for annual sales to grow by 6 to 8 percent on average, and for margin to reach at least 7 percent. “Our aim is to grow in every region of the world and to be among the leading three suppliers in our relevant markets,” Hartung said.
The fight against climate change is causing considerable upheaval in business and society, and also accelerating technological change. “This technological transformation is opening up growth opportunities that we want to seize, both in our existing business and in related and new areas,” Hartung said. “In this context, our ‘Invented for life’ ethos is ideal – not only when it comes to the major trends of electrification, automation, and digitalization, but more than ever also with respect to software and artificial intelligence.”
Investments in the future: innovative strength needs financial strength
“Despite the challenging environment, we can look back on solid results in 2022. On top of that, we have prepared the ground for Bosch’s success in the markets of the future,” said Dr. Markus Forschner, the CFO of Robert Bosch GmbH. All in all, the company spent more than 12 billion euros last year on securing its future. Expenditure on research and development rose to 7.2 billion euros (from 6.1 billion euros in 2021), or 8.2 percent of sales (7.8 percent in 2021). Capital expenditure also increased by 1 billion euros to 4.9 billion euros. The equity ratio rose slightly to 46.6 percent (2021: 45.3 percent). Apart from upfront investments, ensuring that the company maintained its ability to deliver in times of great uncertainty tied up funds. This resulted in a negative free cash flow of 4.0 billion euros last year. As Forschner pointed out: “Even if Bosch does have the necessary funds and a very sound financial position, we have to maintain a difficult balancing act between investments and cost discipline.”
Outlook for 2023: cost pressure, inflation, and a cooling economy
Despite the after-effects of the Covid-19 pandemic, the Bosch Group was able to increase its sales by 3.5 percent in the first quarter of 2023. North America developed especially favorably, with double-digit growth of 18.1 percent. In Europe as well, the company grew by a strong 7.7 percent. “The first few months of the new business year have shown that 2023 will also be a challenging year,” the CFO said. He explained that he expects prices on the raw materials and energy markets, as well as inflation, to remain high. For 2023, Bosch expects global economic output to grow just 1.7 percent, and thus to cool by a further considerable degree year on year. Despite the modest economic outlook, Bosch is aiming for sales growth of between 6 and 9 percent in 2023. Its target for EBIT margin from operations is in the region of 5 percent. “In this way, we want to come one step closer to our long-term target of at least 7 percent margin,” Forschner said. “We have set ourselves an ambitious roadmap.”
Sales in North America increase as organization invests for growth
Bosch ended its 2022 fiscal year with $15.1 billion USD (14.3 euros) in sales to third parties, an increase of nearly 12 percent year-over-year. The region achieved total net sales of more than $16 billion USD when accounting for internal sales. The Mobility Solutions business sector increased sales by more than 12 percent to nearly $9 billion USD in the North American region. Energy and Building Technology as well as Industrial Technology business sectors both posted double digit growth in the region. Energy and Building Technology increased by around 30 percent to more than $1.3 billion while Industrial Technology increased around 20 percent to more than $1.2 billion. After two straight years of double-digit growth in 2020 and 2021, the Consumer Goods business sector once again achieved sales of $3.5 billion USD in 2022, which equaled 2021.
To build on its success in the North American region, Bosch is investing for growth. In April 2023, the company announced plans to acquire U.S. chipmaker TSI Semiconductors in Roseville, California. The company intends to invest more than $1.5 billion USD in the site for upgrades in order to produce silicon carbide chips for electromobility. In July 2022, Bosch announced it would expand its global hydraulics business by acquiring HydraForce, a U.S.-based specialist hydraulic company. In February 2023, the acquisition was completed and HydraForce is now part of the Bosch Rexroth portfolio, within the Industrial Technology business sector at Bosch.
The company also announced investments in its local manufacturing in 2022. In South Carolina, the company has begun investments to expand production supporting its mobility business and plans to invest around $450 million. This included fuel cell stack production in Anderson, S.C., which is expected to launch in 2026, and expansion of mobility-related production – including electric motors – in Charleston. In total, the two investments in mobility-related production in South Carolina are expected to generate up to 700 new jobs. Bosch also announced an investment of $260 million for a new appliance manufacturing center in Nuevo León, Mexico and a $215 million investment for Bosch Rexroth in Queretaro, Mexico that will create more than 900 jobs.
“The North American market – and in particular the United States – holds strong promise for growth at Bosch as part of a diverse global portfolio,” said Mike Mansuetti, president of Bosch in North America. “We are focused on identifying and delivering products and services that meet the regional needs of our customers across all areas of our business.”
Mobility business: growth through realignment
Bosch is realigning its mobility business to changed market and customer requirements. The aim is to be able to serve existing and new customer needs even better and faster with customized solutions from a single source. “We want to remain a leading supplier of technology and the preferred partner for our customers in the mobility industry. We’re preparing the ground for this,” Hartung said. What has up to now been the Mobility Solutions business sector, with some 230,000 associates at more than 300 locations in 66 countries worldwide, will now be known as the “Bosch Mobility” business sector. Within the company, it will be responsible for its own business and have its own leadership team. Effective January 1, 2024, the individual divisions will be redrawn in some cases and given horizontal responsibilities as well. The Bosch chairman announced that the aim is for the newly restructured mobility business to grow by an average of roughly 6 percent up to 2029, when it will achieve annual sales of more than 80 billion euros. One pillar of its future growth will be the market for automotive software, which is expected to triple by the end of the decade. In this market, Bosch Mobility will provide its customers with software solutions for operating systems and domain-specific applications for software-defined vehicles.
Energy and Building Technology: growth with the move to alternative heating
Hartung believes that the overhaul of global energy systems in particular is a source of additional business potential: “Growth won’t just be found on our roads, even if we are very successful there,” Hartung said. “When it comes to the electrification of heating systems, our heat pumps are very much in demand.” At Bosch, this field is just as much a driver of above-average growth as electrical powertrains for vehicles. The company is expanding its heat-pump capacity, and wants to invest more than 1 billion euros in total in Europe by the end of the decade. Following the start of volume production in Eibelshausen, Germany, at the start of the year, Bosch recently announced the construction of a further plant in Poland. “To make it affordable for homeowners to modernize their heating systems, we are promoting hybrid solutions as well,” Hartung said. “The use of an existing gas-fired boiler in combination with a smaller-scale heat pump generally rules out the need for extensive refurbishment.” Compared with a heat pump-only solution, this could reduce modernization costs by as much as 30 percent. Bosch expects the European heat-pump market to grow 20 percent in 2023 – with sales related to this growing more than twice as fast at Bosch. This rapid growth is expected to last until the middle of the decade. Bosch is also benefiting from the move to make commercial buildings more energy- and cost-efficient: in acquiring Hörburger AG, the company recently extended its portfolio to include building automation.
Industrial technology and consumer goods: ambitious growth targets
In its industrial technology and consumer goods businesses as well, Bosch is on a growth path: sales revenue from industrial technology has increased from 5 to 7 billion euros since 2016. “The target for sales revenue in 2028 is 10 billion euros – this is important in order to be among the frontrunners in industrial technology,” the Bosch chairman said. He added that the recent acquisition of HydraForce, with its roughly 2,100 associates, will play a central role here: “The takeover of this U.S. specialist has not only tripled our sales of compact hydraulics,” he said. “In addition, HydraForce’s dealer network will also give us better access to the U.S. market.” Bosch Rexroth is also entering a new field – the electrification of mobile machinery. The division has very recently launched its eLion program, a complete product portfolio for this field. It also has a large number of orders from makers of off-highway vehicles. “The electrification of tractors, concrete mixers, and excavators is just what the industry has been waiting for.”
The Consumer Goods business sector also has ambitious growth targets: Bosch Power Tools, for example, aims to more than double its sales by 2030, and to surpass the 10-billion-euro mark. To bring this about, the company already invested some 300 million euros last year in programs such as expanding its accessories business. Further nine-figure investments are planned for this year. One of their focal points will be North America, which on its own represents more than 40 percent of the global power-tool market. BSH Hausgeräte is also strengthening its position there: from 2024, for example, it will manufacture cooling appliances for the North American market in a new factory in Mexico.
Business year 2022: Development by business sector
Mobility Solutions, the company’s biggest business sector, significantly increased its sales by 16.0 percent (12.1 percent after adjusting for exchange-rate effects) to 52.6 billion euros. The margin from operations was better than expected, rising from 0.7 to 3.4 percent. “Despite chronic chip shortages and only weak growth in automotive production, we were able to considerably increase our mobility-related sales,” Forschner said. “And we too were forced to adapt our prices to increased costs.” The Industrial Technology business sector benefited from the robust machinery market. Its sales grew by 13.9 percent (11.0 percent after adjusting for exchange-rate effects) to 6.9 billion euros. Its EBIT margin increased to 9.8 percent. The Consumer Goods business sector suffered from the steep drop in demand for home appliances and power tools. Nonetheless, its sales rose 1.5 percent (1.6 percent after adjusting for exchange-rate effects) to 21.3 billion euros. In addition, the phasing-out of its Russia business put a strain on earnings. Its EBIT margin from operations came to 4.5 percent, following 10.2 percent the previous year. The Energy and Building Technology business sector grew significantly in 2022, by 17.4 percent (15.9 percent after adjusting for exchange-rate effects), to 7.0 billion euros. One of the drivers of this demand was the heavy demand for climate-friendly heating technology. The EBIT margin was 6.0 percent (2021: 5.1 percent).
Business year 2022: Development by region
“In all regions, the Bosch Group was able to post a significant increase in sales in 2022 – above all in the Americas,” Forschner said. Sales in North America rose 25.7 percent to 14.4 billion euros. Adjusted for exchange-rate effects, the figure is 12.3 percent. In South America, sales reached 1.8 billion euros. This is an increase of 26.0 percent, or 16.7 percent after adjusting for exchange-rate effects. Sales revenue in Europe was up 7.3 percent year on year, totaling 44.3 billion euros. Adjusted for exchange-rate effects, growth was 9.8 percent. In Asia Pacific (including other regions), sales rose by 12.8 percent to 27.7 billion euros. Adjusted for exchange-rate effects, growth was 7.1 percent.
Headcount 2022: increase of 18,724 worldwide
As of December 31, 2022, the Bosch Group employed 421,338 people worldwide – 18,724 more than the previous year. Headcount increased in all regions, with most of the growth in the Americas and Asia Pacific. In research and development, headcount grew by 9,422 to 85,543 associates. Of this number, some 44,000 people work in software development.
About Bosch
Having established a presence in North America in 1906, today the Bosch Group employs 37,000 associates in more than 100 locations in the region (as of Dec. 31, 2022). Bosch generated consolidated sales of $15.1 billion in the U.S., Canada, and Mexico in 2022. For more information visit www.bosch.us, www.bosch.ca and www.bosch.mx.
The Bosch Group is a leading global supplier of technology and services. It employs roughly 421,000 associates worldwide (as of December 31, 2022). The company generated sales of 88.2 billion euros in 2022. Its operations are divided into four business sectors: Mobility Solutions, Industrial Technology, Consumer Goods, and Energy and Building Technology. As a leading IoT provider, Bosch offers innovative solutions for smart homes, Industry 4.0, and connected mobility. Bosch is pursuing a vision of mobility that is sustainable, safe, and exciting. It uses its expertise in sensor technology, software, and services, as well as its own IoT cloud, to offer its customers connected, cross-domain solutions from a single source. The Bosch Group’s strategic objective is to facilitate connected living with products and solutions that either contain artificial intelligence (AI) or have been developed or manufactured with its help. Bosch improves quality of life worldwide with products and services that are innovative and spark enthusiasm. In short, Bosch creates technology that is “Invented for life.” The Bosch Group comprises Robert Bosch GmbH and its roughly 470 subsidiary and regional companies in over 60 countries. Including sales and service partners, Bosch’s global manufacturing, engineering, and sales network covers nearly every country in the world. With its more than 400 locations worldwide, the Bosch Group has been carbon neutral since the first quarter of 2020. The basis for the company’s future growth is its innovative strength. At 136 locations across the globe, Bosch employs some 85,500 associates in research and development, of which nearly 44,000 are software engineers.
The company was set up in Stuttgart in 1886 by Robert Bosch (1861–1942) as “Workshop for Precision Mechanics and Electrical Engineering.” The special ownership structure of Robert Bosch GmbH guarantees the entrepreneurial freedom of the Bosch Group, making it possible for the company to plan over the long term and to undertake significant upfront investments in the safeguarding of its future. Ninety-four percent of the share capital of Robert Bosch GmbH is held by Robert Bosch Stiftung GmbH, a charitable foundation. The remaining shares are held by Robert Bosch GmbH and by a corporation owned by the Bosch family. The majority of voting rights are held by Robert Bosch Industrietreuhand KG, an industrial trust. The entrepreneurial ownership functions are carried out by the trust.
Additional information is available online at www.bosch.com, www.iot.bosch.com, www.bosch-press.com, www.twitter.com/BoschPress
Artificial Intelligence
The Australia Data Center Market Size Will Witness Investments of $7.71 Billion by 2029 – Get Insights on 135 Existing Data Centers and 23 Upcoming Facilities across Australia – Arizton
CHICAGO, May 9, 2024 /PRNewswire/ — According to Arizton’s latest research report, the Australia data center market is growing at a CAGR of 3.22% during 2023-2029.
To Know More, Click: https://www.arizton.com/market-reports/australia-data-center-market-investment-analysis
Australia Data Center Market Report Scope
Report Attributes
Details
Market Size (Investment)
USD 7.71 Billion (2029)
Market Size (Area)
1,460.0 thousand sq. Feet (2029)
Market Size (Power Capacity)
303.0 MW (2029)
CAGR Investment (2023-2029)
3.22 %
Colocation Market Size (Revenue)
USD 2.05 Billion (2029)
Historic Year
2020-2022
Base Year
2023
Forecast Year
2024-2029
The data center market in Australia has been witnessing significant growth in investments over the past few years. It is expected to grow at an absolute growth rate of around 20% between 2023-2029. Australia is among the top destinations for data center investments in the APAC region.
Sydney, Melbourne, and Perth are the primary data center hubs hosting most data centers in the country. Canberra, Brisbane, Darwin, and other cities are among the emerging locations in Australia with abundant land availability for data center development.
Investment Opportunities
In November 2023, OVHcloud announced the launch of its upcoming SYD3 Sydney data center facility, which is expected to be operational in 2024.In November of 2023, Rest Super invested about $656 million in a data center in Brisbane, which Quinbrook Infrastructure Partners are developing.In November 2023, NEXTDC announced the development of the D1 data center facility in Darwin; the facility is expected to go operational by Q2 2024.AirTrunk announced the expansion of its SYD2 data center campus in Sydney; once fully built, the facility will account for an additional power capacity of around 30 MW, making it an aggregate capacity of around 120 MW. This second phase is expected to be completed in 2024. AirTrunk’s upcoming SYD3 Sydney facility calls for an aggregate investment of about $670 million.In an August 2023 news article, Macquarie Data Centres revealed its plan to expand its upcoming IC3 Super West facility in Sydney regarding power capacity. As per January 2024 news article, Macquarie Data Centres has received approval to build/grow the IC3 Super West, its third facility in Sydney.In August 2023, STACK Infrastructure announced the MEL01 A data center launch in Melbourne, located at 399 Palmers Road. The entire campus will have a power capacity of around 72 MW, divided equally between buildings A and B. As of early 2024, Building B is still a work in progress. Furthermore, the company plans new facilities in Canberra, Hume, and Perth.Rising Procurement of Renewable Energy in Australia Boosting the Market Opportunities
In 2022, according to IRENA, solar energy accounted for around 61% of Australia’s overall renewable energy capacity, followed by wind, hydro, and bioenergy (in decreasing order), from which renewable power is extracted for all the sustainable energy needs of the country. Australia aims to achieve its target of zero carbon emissions by 2050. The country announced plans to reach almost 43% less emission than in 2005.
According to the Australia National Electricity Market (NEM), the renewable energy share in the country is expected to reach around 41% by 2030. By 2025, Australia aims to achieve 100% instantaneous renewable energy for its main grid, starting with a half-hour period and gradually increasing to cover hours and days. This transition will be facilitated by an increase in wind, solar, and energy storage solutions to meet the country’s new target of 82% renewables by 2030. The retirement of coal-based power generation facilities in the coming years will contribute to this goal.
Microsoft in Australia Recent Development During 2022-2024:
In October 2023, Microsoft, a hyperscale tech giant, decided to expand its footprint in Australia by investing over $3 billion to increase and expand its computing capacity in the country by over 250% in the next two years. It is expected to go live by late 2025.In July 2023, Microsoft announced the completion of the construction of Building 1 of the Station Road data center; Building 2 is still a work in progress. This is expected to be completed by late 2024.Why Should You Buy This Research?
Market size is available in terms of investment, area, power capacity, and Australia colocation market revenue.An assessment of the data center investment in Australia by colocation, hyperscale, and enterprise operators.Investments in the area (square feet) and power capacity (MW) across cities in the country.A detailed study of the existing Australia data center market landscape, an in-depth market analysis, and insightful predictions about market size during the forecast period.Snapshot of existing and upcoming third-party data center facilities in AustraliaFacilities Covered (Existing): 135Facilities Identified (Upcoming): 23Coverage: 20 LocationsExisting vs. Upcoming (Area)Existing vs. Upcoming (IT Load Capacity)Data Center Colocation Market in the AustraliaColocation Market Revenue & Forecast (2023-2029)Retail Colocation Revenue (2023-2029)Retail Colocation PricingThe Australia data center market investments are classified into IT, power, cooling, and general construction services with sizing and forecast.A comprehensive analysis of the latest trends, growth rate, potential opportunities, growth restraints, and prospects for the industry.Business overview and product offerings of prominent IT infrastructure providers, construction contractors, support infrastructure providers, and investors operating in the market.A transparent research methodology and the analysis of the demand and supply aspects of the market.Market Segmentation
IT InfrastructureServersStorage SystemsNetwork InfrastructureElectrical InfrastructureUPS SystemsGeneratorsSwitches & SwitchgearsPDUsOther Electrical InfrastructureMechanical InfrastructureCooling SystemsRack CabinetsOther Mechanical InfrastructureCooling SystemsCRAC and CRAHChillersCooling Towers, Condensers and Dry CoolersEconomizers and Evaporative CoolersOther Cooling UnitsGeneral ConstructionCore & Shell DevelopmentInstallation & commissioning ServicesBuilding & Engineering DesignFire Detection & Suppression SystemsPhysical SecurityData Center Infrastructure Management (DCIM)Tier StandardTier I & Tier IITier IIITier IVGeographySydneyMelbournePerthOther CitiesVendor Landscape
IT Infrastructure Providers: Arista Networks, Atos, Broadcom, Cisco Systems, Dell Technologies, Extreme Networks, Hewlett Packard Enterprise, Hitachi Vintara, IBM, Juniper Networks, Lenovo, Oracle, Pure Storage, Quanta Cloud Technology, and Super Micro Computer.Data Center Construction Contractors & Sub-Contractors: AECOM, A W Edwards, Aurecon, Benmax, BGIS, Dem, FDC Construction & Fitout, FKG Group, Greenbox Architecture, HDR (Hurley Palmer Flatt), Hutchinson Builders, Icon, ISG, John Holland, Kapitol Group, Linesight, Manteena Group, Nilsen, Paramount Airconditioning, Parratech, SCEE Group, Stowe Australia, & Taylor Group Construction.Support Infrastructure Providers: ABB, Airedale, Alfa Laval, Canovate, Caterpillar, Condair, Cummins, Delta Electronics, Eaton, Everett Smith & Co, Green Revolution Cooling, HITEC Power Protection, Kohler, Legrand, Mitsubishi Electric, Piller Power Systems, Rittal, Rolls Royce, Schneider Electric, STULZ, Thycon, & Vertiv.Data Center Investors: 5G Networks, AirTrunk, Amazon Web Services, CDC Data Centres, DC Two, DCI Data Centers, Digital Realty, Equinix, Edge Centres, Fujitsu, Global Switch, Leading Edge Data Centres, Keppel Data Centres, Macquarie Data Centres, Microsoft, NEXTDC, & STACK Infrastructure.New Entrants: GreenSquareDC, Stockland, Supernode, Trifalga, & Vantage Data Centers.Key Questions Answered in the Report:
Q: How big is the Australia data center market?
Q: How much MW of power capacity will be added across Australia from 2024 to 2029?
Q: What is the growth rate of the Australia data center market?
Q: What factors are driving the Australia data center market?
Q: Which cities are included in the Australia data center market report?
Get the Detailed TOC @ https://www.arizton.com/market-reports/australia-data-center-market-investment-analysis
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Report recognises Invoca’s innovative platform for delivering “game-changing AI capabilities to revenue teams.”
SANTA BARBARA, Calif., May 9, 2024 /PRNewswire/ — Invoca today announced that Forrester Research has named Invoca as a Leader in The Forrester Wave™: Real-Time Revenue Execution Platforms, Q2 2024 report. Forrester evaluated the most significant revenue execution platform vendors based on three main categories — current offering, strategy, and market presence — along with interviews with customers. Invoca is the top-ranked vendor in both the current offering and strategy categories and among the top-ranked in market presence. Invoca also received the highest possible score in 19 of the 31 evaluation criteria, including AI differentiators, AI: large language model utilisation, Marketing: performance optimisation, In-call guidance: pre-call insights, System configuration: privacy, and Interaction capture: integrations.
The report states, “[Invoca’s] success starts with a vision focused on enabling revenue teams to drive growth by delivering the most complete platform for optimising the entire buying experience. Invoca has a track record of innovation that continues to raise the bar on what is possible to fulfil its vision.”
Revenue Execution Platforms Unify the Buying Journey to Drive Revenue Growth
Invoca’s revenue execution platform enables revenue teams to connect customer buying journey data across the marketing team that engages customers and the sales teams that close the deals. By using a comprehensive revenue execution platform, revenue teams can finally connect their marketing investments directly to revenue, improve digital engagement, and drive higher-quality leads.
Invoca also enables sales teams in the contact centre or at distributed business locations to access information from the customer’s digital journey from a centralised source, enabling them to provide the best call experience possible and close more sales opportunities.
Revenue Execution Platforms Needed to Power Today’s Buyer Journey
“B2C revenue teams across marketing and sales are feeling more pressure to directly connect revenue to their investments. But a lack of alignment and poor visibility of the full buying journey makes that nearly impossible,” said Peter Isaacson, Chief Marketing Officer at Invoca. “I believe Invoca was named a revenue execution Leader because we help marketing and sales teams manage the complete buyer journey from the first click to the final sale, so they can drive revenue growth.”
By using Invoca’s comprehensive revenue execution platform, revenue teams can connect their paid media investments directly to revenue, improve digital engagement and deliver the best buyer experiences to drive more sales. The Forrester report states that “reference customers rave about the versatility of the platform and its collaboration with customers around enhancements.”
Windstream, an Invoca customer, embodies this approach to revenue execution by tightly aligning the marketing and sales teams so they can work together to increase revenue.
“We’re a better marketing organisation because we have a strong partnership with sales,” said Aaron Pierce, VP of Marketing at Windstream. “Our teams have realised that we make each other better — I think that’s the biggest win. And now, when we have a problem, we can put all the smartest people together in the room to tackle it.”
“The Invoca platform has allowed us to unlock a ‘full-funnel’ view of our marketing performance that incorporates both online and offline,” said Lorenzo Clark, VP of Digital Sales at Windstream. “Now, we can get a read on lead quality because we can see what’s happening on sales calls and also track sales performance on a lead-by-lead basis.”
The Forrester Wave™The Forrester Wave™ is Forrester’s evaluation of top products in a technology market. The report assesses the core capabilities and strategies of these products based on an executive strategy briefing and/or product demo session, criteria questionnaire, and customer reference calls/surveys.
The Forrester Wave™: Real-Time Revenue Execution Platforms, Q2 2024 report is available for download here.
Additional Resources:
Learn more about Revenue Execution Platforms: https://www.invoca.com/uk/product/revenue-execution-platformHow real-time revenue execution platforms drive business growth: https://www.invoca.com/uk/blog/revenue-execution-platformThe 5 Revenue Execution Platform Uses You Need to Know About: https://www.invoca.com/uk/blog/revenue-execution-platform-usesAbout InvocaInvoca is the leading revenue execution platform to connect marketing and sales teams to enable them to track and optimise the buying journey and drive more revenue. By using a comprehensive revenue execution platform with deep integrations with leading technology platforms, revenue teams can better connect their paid media investments directly to revenue, improve digital engagement, and deliver the best buyer experiences to drive more sales. With Invoca, top consumer brands, including AutoNation, DIRECTV, Mayo Clinic, Mutual of Omaha, and Verizon, experience unbelievable results powered by undeniable data. Invoca has raised $184M from leading venture capitalists, including Upfront Ventures, Accel, Silver Lake Waterman, H.I.G. Growth Partners, and Salesforce Ventures. For more information, visit www.invoca.com.
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Artificial Intelligence
Fight Against Pancreatic Cancer Ramps Up as Market Size Revenues Expected to Exceed $36 Billion by 2036
FN Media Group News Commentary
PALM BEACH, Fla., May 9, 2024 /PRNewswire/ — The incidence of pancreatic cancer is increasing globally, which is driving the growth of the market. As of 2023, the American Cancer Society predicts that 64,050 Americans will be diagnosed with pancreatic cancer. It is estimated that 50,550 people will die from pancreatic cancer (26,620 men and 23,930 women). Pancreatic cancer is an aggressive form of cancer, and it is often not detected until it is in an advanced stage. Additionally, the treatment options for pancreatic cancer are limited, and the survival rate is low. These factors are contributing to the rise in pancreatic cancer cases, which in turn is driving the growth of the pancreatic cancer market. A recent report from Research Nester projected that the global pancreatic cancer market size is slated to expand at ~18% CAGR between 2024 and 2036. The market is poised to garner a revenue of USD 36 billion by the end of 2036, up from a revenue of ~USD 6 billion in the year 2023. The report said: “Advancements in diagnosis and treatment options for pancreatic cancer are also driving the growth of the market. As researchers gain a better understanding of the different types of pancreatic cancer, they are developing more targeted treatments that are more likely to be effective with fewer side effects. Additionally, new treatment options, such as immunotherapy and targeted therapies, are improving patient outcomes and extending survival rates.” Active biotech and pharma companies in the markets this week include Oncolytics Biotech® Inc. (NASDAQ: ONCY) (TSX: ONC), Zai Lab Limited (NASDAQ: ZLAB), Notable Labs, Ltd. (NASDAQ: NTBL), Cardiff Oncology, Inc. (NASDAQ: CRDF), Johnson & Johnson (NYSE: JNJ).
Research Nester concluded: “The pancreatic cancer market in North America is garner the largest revenue by the end of 2036 due to several demographic changes, including an aging population and increased incidence of obesity and diabetes. In the US, there are 37.3 million diabetics (11.3[R3] % of the population); 28.7 million are diagnosed with diabetes, including 28.5 million adults. As the population ages, there will be a higher prevalence of chronic diseases such as diabetes and obesity, which are risk factors for pancreatic cancer. Additionally, the aging population will lead to an increase in the number of people with pre-existing conditions that can increase the risk of developing pancreatic cancer. Obesity and diabetes are known risk factors for pancreatic cancer, and as these conditions become more prevalent, the number of cases of pancreatic cancer is expected to increase.”
Oncolytics Biotech® Inc. (NASDAQ: ONCY) (TSX: ONC) Receives Regulatory Clearance to Evaluate Pelareorep in Combination with Modified FOLFIRINOX +/- an anti-PD-L1 Inhibitor in Pancreatic Cancer
US$5 million PanCAN grant provides important support for the fifth cohort of the GOBLET study Study of modified OLFIRINOX/pelareorep/atezolizumab (Tecentriq ®) combination expands existing pancreatic cancer program First patient expected to be enrolled in Q2 2024 Oncolytics Biotech ® Inc., a leading clinical-stage company specializing in immunotherapy for oncology, will commence enrollment into a new GOBLET study pancreatic cancer cohort following both German regulatory and ethics approvals. This cohort will evaluate pelareorep in combination with modified FOLFIRINOX (mFOLFIRINOX) with or without the PD-L1 immune checkpoint inhibitor atezolizumab (Tecentriq ® ) in newly diagnosed patients with pancreatic ductal adenocarcinoma (PDAC). It is supported by a US$5M Therapeutic Accelerator Award from the Pancreatic Cancer Action Network (PanCAN), an innovative program established to accelerate the development of new treatments for pancreatic cancer. The chemotherapy regimens of mFOLFIRINOX or gemcitabine + nab-paclitaxel are the two most common standards of care for pancreatic cancer. Oncolytics has already reported data with the combination of gemcitabine and nab-paclitaxel ( link to the PR , link to the poster ) that surpassed historical outcomes. Positive results from a combination with mFOLFIRINOX could greatly enhance pelareorep’s potential in addressing pancreatic cancer.
“Oncolytics is pleased to announce receipt of regulatory clearance to initiate the mFOLFIRINOX cohort in patients with newly diagnosed metastatic PDAC. We appreciate the opportunity to collaborate with PanCAN, Roche, and AIO on this cohort, which is expected to initiate enrollment in the second quarter,” said Dr. Matt Coffey, President and Chief Executive Officer of Oncolytics. “We believe that working with PanCAN will help to further enrich Oncolytics’ clinical relationships with the pancreatic cancer community. We are also grateful for PanCAN’s Therapeutic Accelerator Award, which is enabling the evaluation of this combination therapy.”
“The Therapeutic Accelerator Award program has been an important part of PanCAN’s approach to advancing innovative treatments for pancreatic cancer. We incorporated input from leading scientists and clinicians in the field of pancreatic cancer to select Oncolytics as a recipient of this award,” said Anna Berkenblit , MD, MMSc, Chief Scientific and Medical Officer at PanCAN. “Increasing patient access to clinical trials is vital to developing improved treatment options, so we are pleased that Oncolytics has received regulatory clearance for the pelareorep/mFOLFIRINOX combination and is poised to enroll the first patient in this cohort. We hope that the results from this study lead to improved outcomes for patients with pancreatic cancer.”
Dirk Arnold , M.D., Ph.D., Director of Asklepios Tumorzentrum Hamburg and primary investigator of the GOBLET trial, commented, “Oncolytics has taken a very strategic approach to the development of pelareorep in pancreatic cancer by focusing its clinical studies on combinations with the most widely used treatment regimens. My experience to date with the GOBLET study, including the positive metastatic PDAC and encouraging anal cancer data reported last year, makes me enthusiastic to initiate enrollment in the mFOLFIRINOX cohort.”
“We previously reported very encouraging results in pancreatic cancer patients for the combination of pelareorep, gemcitabine/nab-paclitaxel, and atezolizumab, and we plan to begin a registration-enabling study of this regimen later this year. The new pelareorep/mFOLFIRINOX cohort offers the opportunity to expand pelareorep’s role in pancreatic cancer. If the mFOLFIRINOX combination shows a compelling efficacy signal, this therapeutic approach could also be advanced to a registration-enabling study, providing two opportunities for pelareorep-based treatment to benefit pancreatic cancer patients,” said Thomas Heineman , M.D., Ph.D., Chief Medical Officer at Oncolytics. “In addition, translational research studies planned for this cohort will help to further elucidate pelareorep’s mechanism of action, including its ability to shape the tumor microenvironment (TME). Notably, we will evaluate the correlation between tumor responses and the expansion of tumor-infiltrating lymphocytes (TILs) in the blood, an effect that was observed in earlier pancreatic cancer studies. We look forward to initiating enrollment into the mFOLFIRINOX/pelareorep study cohort in the second quarter of this year.” CONTINUED… Read these full press releases and more news for ONCY at: https://www.financialnewsmedia.com/news-oncy/
Other recent developments in the biotech industry of note for cancer events include:
Zai Lab Limited (NASDAQ: ZLAB) recently announced financial results for the first quarter of 2024, along with recent product highlights and corporate updates. “Our first quarter results demonstrate strong commercial execution and pipeline progress across our potential first- and best-in-class product portfolio,” said Dr. Samantha Du, Founder, Chairperson, and Chief Executive Officer of Zai Lab. “The launch of VYVGART is off to an impressive start with $13.2 million of sales in the first quarter. Looking ahead, we expect to accelerate commercial performance for the remainder of the year and are preparing for three new potential launches in 2024. We are also excited by the progress of our late-stage pipeline and we are on track to achieve the objectives outlined in our five-year strategic plan, including significant revenue growth and profitability by the end of 2025.”
“Our net revenues grew 39% y-o-y or 43% y-o-y at CER in the first quarter, driven by strong execution with the launch of VYVGART and uptake of our existing portfolio,” said Josh Smiley, President and Chief Operating Officer of Zai Lab. “With VYVGART’s launch in gMG at the end of last year, and multiple new products and indications expected to launch over the near-term, we are now entering a period of robust growth for Zai Lab. Our significant growth, coupled with our focus on driving efficiencies and productivity across the organization, will drive the evolution of Zai Lab into a profitable, high growth business by the end of 2025. Furthermore, we will continue to focus on expanding our global portfolio through our internal discovery activities and strategic business development,” Mr. Smiley concluded.
Notable Labs, Ltd. (NASDAQ: NTBL), a clinical-stage precision oncology company developing new cancer therapies identified by its Predictive Precision Medicine Platform (PPMP), recently reported financial results for the year ended December 31, 2023 and provided a business update.
“The last year has been a time of great accomplishment for Notable. We built a strong clinical validation dataset, starting with a poster presented at the American Association for Cancer Research (AACR 2023); became a publicly listed company, following the closing of a reverse merger in October 2023; and reported successful PPMP clinical data from the Phase 2 fosciclopirox study that showcased the ability of our platform to accurately predict patient outcomes for specific therapeutics,” said Thomas Bock, M.D., Chief Executive Officer of Notable. “The performance of our platform in accurately predicting the outcome of the fosciclopirox study has enabled us to enhance the clinical trial plan for our lead product candidate, volasertib, in development for patients with relapsed/refractory acute myeloid leukemia (r/r AML). In our upcoming Phase 2 trial, we will be utilizing the platform to enrich the study’s enrollment with patients predicted to respond to volasertib, which we believe will result in more rapid enrollment, shorter time to efficacy data and, ultimately, increased probability of success.”
Cardiff Oncology, Inc. (NASDAQ: CRDF), a clinical-stage biotechnology company leveraging PLK1 inhibition to develop novel therapies across a range of cancers, recently announced financial results for the first quarter ended March 31, 2024, and provided a business update.
“During the start of 2024, we presented several important new data sets supporting our first-line RAS-mutated mCRC strategy and the broader opportunity for onvansertib,” said Mark Erlander, Ph.D., Chief Executive Officer of Cardiff Oncology. “The data from the ONSEMBLE trial replicated, in a second independent and randomized dataset, the bev naïve signal from our earlier Phase 1b/2 KRAS-mutated mCRC trial. And the Phase 1b data published in the peer-reviewed journal Clinical Cancer Research, and the additional data we presented in one of our five posters at AACR, further substantiated our lead program in RAS-mutated mCRC. The additional AACR posters also point toward new indications for onvansertib in RAS wild-type mCRC, small cell lung cancer and ovarian cancer. Looking ahead, we believe that our upcoming data readout from our first-line trial in RAS-mutated mCRC has the potential to serve as a key value inflection point for our company and revolutionize the treatment of RAS-mutated mCRC, an area with no new treatments approved in over two decades.”
Johnson & Johnson (NYSE: JNJ) recently announced that the U.S. Food and Drug Administration (FDA) has approved CARVYKTI® (ciltacabtagene autoleucel; cilta-cel) for the treatment of adult patients with relapsed or refractory multiple myeloma who have received at least one prior line of therapy, including a proteasome inhibitor and an immunomodulatory agent, and are refractory to lenalidomide. With this approval, CARVYKTI® becomes the first and only B-cell maturation antigen (BCMA)-targeted therapy approved for the treatment of patients with multiple myeloma as early as first relapse.
FDA approval is based on positive results from the Phase 3 CARTITUDE-4 study, which demonstrated that the earlier use of CARVYKTI® reduced the risk of disease progression or death by 59 percent compared to standard therapies—pomalidomide, bortezomib and dexamethasone (PVd) or daratumumab, pomalidomide and dexamethasone (DPd)—in adults with relapsed and lenalidomide-refractory multiple myeloma who received one to three prior lines of therapy. The study, which was presented at the 2023 American Society of Clinical Oncology (ASCO) Annual Meeting and published in The New England Journal of Medicine, also included and reported key secondary results such as overall response (OR) and overall survival (OS).
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