Artificial Intelligence

View Announces Q1 2023 Earnings

Published

1 year ago

May 9, 2023

<!– Name:DistributionId Value:8835387 –> <!– Name:EnableQuoteCarouselOnPnr Value:False –> <!– Name:IcbCode Value:3728 –> <!– Name:CustomerId Value:1218574 –> <!– Name:HasMediaSnippet Value:false –> <!– Name:AnalyticsTrackingId Value:adef2c34-67b6-4100-bd08-67c34a60e7ff –>

Q1 2023 Financial Highlights and Key Announcements

First quarter revenue of $18 million grew 8% year-over-year compared to $17 million for the same period in 2022.
First quarter GAAP loss from operations improved from $86 million in the first quarter of 2022 to $64 million in the first quarter of 2023; non-GAAP Adjusted EBITDA loss improved from $63 million in the first quarter of 2022 to $43 million.
Cash used in operations improved from $71 million in Q1 2022 to $60 million in Q1 2023, including cost reductions in Factory fixed costs, Research & Development and General & Administrative.
Executed further cost reduction actions expected to reduce structural fixed costs by $50 million per year, while pursuing additional sources of capital.
Established a guarantee program and insurance policy for the Investment Tax Credit (ITC) to further support customers as they underwrite and recognize the benefit of the recently enacted Smart Window ITC.
Management is providing full year 2023 revenue guidance of $125 million to $150 million, representing 36% year-over-year growth at the midpoint of the range.

MILPITAS, Calif., May 09, 2023 (GLOBE NEWSWIRE) — View, Inc. (Nasdaq: VIEW) (“View” or the “Company”), a leader in smart building platforms and technologies, today announced financial results for Q1 2023.

“The View team made significant progress towards our profitability milestones in Q1 2023 despite the ongoing challenges in the commercial real estate industry and the broader macro environment. We took decisive actions to reduce our structural fixed costs, improve efficiencies and position the Company for success,” said Dr. Rao Mulpuri, CEO of View. “We anticipate strong growth again for the full year 2023 with tailwinds provided by the investment tax credit and strength in multifamily residential, renovations and institutional business. We are laser focused on building our business to profitability.”

Q1 2023 Results
Q1 2023 revenue of $18 million represents an 8% year-over-year increase from Q1 2022, primarily due to growth in the Company’s Smart Building Platform, which provides customers a vertically integrated smart window solution.

Q1 2023 cost of revenues of $40 million represents a 1% year-over-year decrease from Q1 2022. The decrease in cost of revenues was driven by lower Factory fixed costs resulting from cost savings initiatives put in place during 2022 and lower inventory impairments, mostly offset by increased costs to support the delivery of Smart Building Platform higher revenues.

View incurred $13 million in Research and Development (“R&D”) expenses in Q1 2023, a decrease of 34% from Q1 2022. The decrease in R&D expenses was primarily driven by cost savings initiatives put in place during 2022 combined with the completion of R&D projects following the roll out of our Gen4 IGU and network electronics.

View incurred $25 million in Selling, General and Administrative (“SG&A”) expenses in Q1 2023, a 41% decrease from Q1 2022, primarily due to lower legal and accounting spending on outside services for costs related to the restatement that was completed in the first half of 2022, lower Stock-Based Compensation expense, and lower sales and marketing spend resulting from cost savings initiatives put in place during 2022.

Operationalizing the Smart Window Investment Tax Credit (ITC)
As of January 1, 2023, View Smart Windows qualify for the Investment Tax Credit (ITC), a 30% to 50% U.S. Federal tax credit intended to drive widespread adoption of smart windows, similar to solar, wind and stand-alone storage technologies.

During Q1 2023, View established an insurance policy to support customers and enable the Company’s guarantee of the tax credit for qualifying projects.

Full Year 2023 Outlook
View announced full year 2023 revenue guidance in the range of $125 million to $150 million, representing 36% year-over-year growth at the midpoint of the range from 2022 revenues of $101 million.

Liquidity and Financing
As previously disclosed, View has taken steps to pursue greater efficiency and lower its structural costs. The Company expects these actions to result in annualized fixed cost and cash savings of approximately $50 million. In the coming year, View intends to continue its focus on growing an efficient business as it progresses on its path to profitability and raising additional capital to support this path. Cash, cash equivalents and short-term investments were $130 million as of March 31, 2023, compared to $198 million as of December 31, 2022. View believes its cash and cash equivalents and short-term investments available as of March 31, 2023, will be sufficient to fund its currently anticipated operating and capital requirements into, but not through, the third quarter of 2023. To address its cash needs, the Company is actively seeking additional sources of capital and is currently in discussions with potential investors.

As previously disclosed, the Company raised capital of $206.3 million, after deducting fees and offering expenses, during the fourth quarter of 2022 through the issuance of Convertible Senior Notes. While the Company has raised sufficient capital to fund operations in the past, there can be no assurance that the necessary additional financing will be available on terms acceptable to the Company, or at all. If the Company is unable to obtain adequate capital resources to fund operations, it would not be able to continue to operate its business pursuant to the Company’s current business plan and would need to pursue other options, including further reducing spending, which could have a material impact on its operations and its revenues, or it may ultimately be forced to discontinue operations entirely.

Conference Call and Webcast Details
View will host a conference call to discuss its financial results at 1:30 p.m. Pacific Time / 4:30 p.m. Eastern Time on Tuesday, May 9^th. A live webcast of the call can be accessed on View’s Investor Relations website at https://investors.view.com or through the webcast link below. An audio replay of the webcast will be available shortly after the call.

Title: View, Inc. First Quarter 2023 Financial Results Conference Call
Date/Time: May 9^th, 2023, at 4:30 pm ET
Webcast Link: https://edge.media-server.com/mmc/p/jjxymfyx

Forward-Looking Statements
This press release and certain materials View files with the SEC, as well as information included in oral statements or other written statements made or to be made by View, other than statements of historical fact, contain certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. These forward-looking statements are based on current expectations, estimates, assumptions, projections, and management’s beliefs, that are subject to change. There can be no assurance that these forward-looking statements will be achieved; these statements are not guarantees of future performance and are subject to certain risks, uncertainties, and other factors, many of which are beyond View’s control and are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. View’s business is subject to a number of risks, which are described more fully in View’s Annual Report on Form 10-K for the year ended December 31, 2022. View undertakes no obligation to update forward-looking statements to reflect events or circumstances after the date hereof.

Financial Information; Non-GAAP Financial Measures
This press release contains certain financial information and data that was not prepared in accordance with United States generally accepted accounting principles (“GAAP”). These non-GAAP measures, and other measures that are calculated using such non-GAAP measures, are an addition to, and not a substitute for or superior to, measures of financial performance prepared in accordance with GAAP and should not be considered as an alternative to any performance measures derived in accordance with GAAP.

The Company presents these non-GAAP amounts because management believes they provide useful information to management and investors regarding certain financial and business trends relating to View’s financial condition and results of operations, and they assist management and investors in comparing the Company’s performance across reporting periods on a consistent basis. View’s management uses these non-GAAP measures for trend analyses, for purposes of determining management incentive compensation and for budgeting and planning purposes. View believes that the use of these non-GAAP financial measures provides an additional tool for investors to use in evaluating operating results and trends in and in comparing View’s financial measures with those of other similar companies, many of which present similar non-GAAP financial measures to investors. View’s management does not consider these non-GAAP measures in isolation or as an alternative to financial measures determined in accordance with GAAP.

However, there are a number of limitations related to the use of these non-GAAP measures and their nearest GAAP equivalents. For example, other companies may calculate non-GAAP measures differently, or may use other measures to calculate their financial performance, and therefore View’s non-GAAP measures may not be directly comparable to similarly titled measures of other companies.

Reconciliations from GAAP to non-GAAP results are included in the financial statements contained in this release.

About View
View is the leader in smart building technologies that transform buildings to improve human health and experience, reduce energy consumption and carbon emissions, and generate additional revenue for building owners. View Smart Windows use artificial intelligence to automatically adjust in response to outdoor conditions, eliminating the need for blinds and increasing access to natural light. Every View installation includes a cloud-connected smart building platform that can easily be extended to reimagine the occupant experience. View’s products are installed in offices, apartments, airports, hotels, and educational facilities. For more information, please visit: www.view.com.

For further information:
View, Inc.
[email protected]

VIEW, INC.
Condensed Consolidated Statements of Comprehensive Loss
(unaudited)
(in thousands, except share and per share data)

	Three Months Ended March 31,
		2023			2022
Revenue	$	18,348		$	17,012
Costs and expenses:
Cost of revenue		40,213			40,562
Research and development		12,941			19,695
Selling, general, and administrative		25,400			42,959
Restructuring costs		4,249			—
Total costs and expenses		82,803			103,216
Loss from operations		(64,455	)		(86,204	)
Interest and other expense (income), net
Interest expense, net		3,161			197
Other expense, net		162			328
Gain on fair value change, net		(507	)		(4,381	)
Interest and other expense (income), net		2,816			(3,856	)
Loss before provision for income taxes		(67,271	)		(82,348	)
Provision for income taxes		18			24
Net and comprehensive loss	$	(67,289	)	$	(82,372	)

Net loss per share, basic and diluted	$	(0.28	)	$	(0.38	)
Weighted-average shares used in calculation of net loss per share, basic and diluted		236,250,564			214,232,210

VIEW, INC.
Condensed Consolidated Balance Sheets
(unaudited)
(in thousands)

	March 31, 2023			December 31, 2022
Assets
Current assets:
Cash and cash equivalents	$	52,637		$	95,858
Short-term investments		77,539			102,284
Accounts receivable, net of allowances		29,937			42,407
Inventories		17,980			17,373
Prepaid expenses and other current assets		35,486			38,297
Total current assets		213,579			296,219
Property and equipment, net		259,864			262,360
Restricted cash		16,693			16,448
Right-of-use assets		17,787			18,485
Other assets		30,900			25,514
Total assets	$	538,823		$	619,026
Liabilities and Stockholders’ Equity
Current liabilities:
Accounts payable	$	20,340		$	21,099
Accrued expenses and other current liabilities		52,331			72,410
Accrued compensation		12,744			9,799
Deferred revenue		6,777			9,199
Total current liabilities		92,192			112,507
Debt, non-current		201,482			218,837
Sponsor earn-out liability		6			506
Lease liabilities		18,693			19,589
Other liabilities		45,458			47,095
Total liabilities		357,831			398,534
Stockholders’ equity:
Common stock		25			23
Additional paid-in capital		2,842,676			2,814,889
Accumulated deficit		(2,661,709	)		(2,594,420	)
Total stockholders’ equity		180,992			220,492
Total liabilities and stockholders’ equity	$	538,823		$	619,026

VIEW, INC.
Condensed Consolidated Statements of Cash Flow
(unaudited)
(in thousands)

	Three Months Ended March 31,
		2023			2022
Cash flows from operating activities:
Net loss	$	(67,289	)	$	(82,372	)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization		5,771			5,951
Gain on fair value change, net		(507	)		(4,381	)
Stock-based compensation		11,192			17,468
Other		5,210			329
Net changes in operating assets and liabilities		(14,839	)		(8,269	)
Net cash used in operating activities		(60,462	)		(71,274	)
Cash flows from investing activities:
Purchases of property and equipment		(4,918	)		(9,137	)
Purchases of short-term investments		(71,316	)		—
Maturities of short-term investments		97,000			—
Disbursement under loan receivable		(3,001	)		—
Net cash used in investing activities		17,765			(9,137	)
Cash flows from financing activities:
Payment of debt issuance costs		(228	)		—
Payments of obligations under finance leases		(134	)		(134	)
Taxes paid related to the net share settlement of equity awards		(1,001	)		—
Net cash (used in) provided by financing activities		(1,363	)		(134	)
Net (decrease) increase in cash, cash equivalents, and restricted cash		(44,060	)		(80,545	)
Cash, cash equivalents, and restricted cash, beginning of period		114,165			297,543
Cash, cash equivalents, and restricted cash, end of period	$	70,105		$	216,998
Supplemental disclosure of cash flow information:
Cash paid for interest	$	87		$	21
Non-cash investing and financing activities:
Payables and accrued liabilities related to purchases of property and equipment	$	504		$	1,315
Common stock issued upon vesting of restricted stock units	$	2,824		$	40
Common stock issued upon conversion of Convertible Notes	$	18,000		$	—

VIEW, INC.
Selected Financials and Reconciliation of GAAP Measures to Non-GAAP Measures
(unaudited)
(in thousands)

	Three Months Ended March 31,
		2023			2022
Cost of revenue
GAAP cost of revenue	$	40,213		$	40,562
Stock-based compensation		(414	)		(363	)
Non-GAAP cost of revenue	$	39,799		$	40,199

Research and development expense
GAAP Research and development expense	$	12,941		$	19,695
Stock-based compensation		(1,174	)		(69	)
Non-GAAP research and development expense	$	11,767		$	19,626

Selling, general, and administrative expense
GAAP selling, general, and administrative expense	$	25,400		$	42,959
Stock-based compensation		(9,604	)		(17,036	)
Non-GAAP selling, general, and administrative expense	$	15,796		$	25,923

Net loss
GAAP net loss	$	(67,289	)	$	(82,372	)
Restructuring costs		4,249			—
Stock-based compensation		11,192			17,468
Gain on fair value change, net		(507	)		(4,381	)
Non-GAAP net loss	$	(52,355	)	$	(69,285	)

Adjusted EBITDA
GAAP loss from operations	$	(64,455	)	$	(86,204	)
Restructuring costs		4,249			—
Stock-based compensation		11,192			17,468
Non-GAAP loss from operations		(49,014	)		(68,736	)
Depreciation and amortization		5,771			5,951
Adjusted EBITDA	$	(43,243	)	$	(62,785	)

Related Topics:AI Artificial Intelligence Machine learning

Up Next

Presto to Participate at Needham Technology & Media Conference

Don't Miss

eFFECTOR Therapeutics Reports First Quarter 2023 Financial Results and Provides Corporate Update

GlobeNewswire

GlobeNewswire is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.

Artificial Intelligence

Unlock an Exclusive Olympic Experience: Celebrating Live4Well’s Sold-Out Genesis NFT

Published

18 hours ago

May 25, 2024

CISION (PR Newswire)

unlock-an-exclusive-olympic-experience:-celebrating-live4well’s-sold-out-genesis-nft

HONG KONG, May 25, 2024 /PRNewswire/ — The buzz surrounding Live4Well’s successful Genesis NFT membership launch on May 23 has captivated both traditional and web3 communities. Combining the power of AI technology and decentralized physical infrastructure (DePin) concept, Live4Well has infused new life into the NFT market. The overwhelming response to their first NFT sales, showcases the project’s immense potential. Renowned web3 community leaders from Azuki, Bored Ape, Pudgy Penguins, WELL3, etc have joined forces with Live4Well, propelling the Genesis NFT membership collection to its resounding success.

Live4Well aims to transform the wellness industry by creating a reward-based infrastructure that connects global fitness data, enhances their AI database, and drives the development of sports and wellness. Backed by a multi-billion family office, which recently invested $20 million in Live4Well, the project has gained support in both web3 and traditional spaces. The team believes that every drop of sweat and effort toward better health should be rewarded, fostering motivation and integrating exercise into daily lives for enhanced well-being.
Live4Well’s announcement of an Olympic-themed raffle for Genesis NFT holders reflects their commitment to connecting wellness between Web2 and Web3 platforms. This testament to Live4Well’s demand and innovative vision solidifies their position as a promising leader in the industry. Their integration of the Olympic signifies their determination to inspire a global audience, leveraging blockchain technology to create an immersive ecosystem that revolutionizes how individuals engage with fitness on a daily basis for better health. Live4Well’s dedication to bridging the gap between traditional practices and the digital landscape sets them apart as pioneers in promoting well-being on a global scale.
What is Genesis NFT membership?
The Genesis NFT unlocks a multitude of benefits for holders, including the opportunity to cash out their sportive income and access a range of exclusive physical products and services. In addition to future airdrops and angel round whitelist privileges, Genesis holders will receive VIP tailor-made product packs from an innovative German sportswear company, elevating their exercise performance to new heights. With over 400 million sweat points farmed by their users, they are eager to redeem through the Genesis NFT membership. These enticing incentives explain why there was a widespread eagerness to participate in this thrilling event.
Unlike typical projects that raise funds before launching products or services, Live4Well has already released its AI-powered app, amassing over 250,000 users as a community base actively engaging in daily exercise. This early success has fostered a promising community within the wellness industry, as users trust Live4Well’s roadmap and collaborative ventures. The growing traction from both ordinary individuals and web3 enthusiasts has intensified the demand for redeeming and cashing out sweat points, the project’s exercise-based rewards. Obtaining the Genesis NFT membership is now seen as an essential step for accessing the highest tier of benefits and cashing out sportive income.
What’s next for Live4Well?
Following the Genesis sales, Live4Well’s team will shift their focus to the upcoming token generation event (TGE) and a series of farming events. They also have exciting plans for partnerships and other collaborations in the global wellness and fitness industries. If you missed the initial launch, be sure to stay updated on Live4Well’s journey and join this extraordinary revolution.
Photo – https://mma.prnewswire.com/media/2421983/image.jpg
Photo – https://mma.prnewswire.com/media/2421640/Live4Well.jpg
Logo – https://mma.prnewswire.com/media/2421641/4725441/Live4Well.jpg

View original content:https://www.prnewswire.co.uk/news-releases/unlock-an-exclusive-olympic-experience-celebrating-live4wells-sold-out-genesis-nft-302155644.html

Artificial Intelligence

Overseas Expansion Strategy of K-OTT Introduced in France, KOCCA holds the ‘2024 Korea-France Content Forum’

Published

1 day ago

May 24, 2024

CISION (PR Newswire)

overseas-expansion-strategy-of-k-ott-introduced-in-france,-kocca-holds-the-‘2024-korea-france-content-forum’

– The ‘Korea-France Content Forum’ held to establish the Foundation for K-OTT’s oversea expansion
PARIS, May 24, 2024 /PRNewswire/ — The Ministry of Culture, Sports and Tourism (Minister Yu In-chon) and the Korea Creative Content Agency (President, Jo Hyun-rae, hereafter KOCCA) held the ‘2024 Korea-France Content Forum’ on May 24th during the Korea Expo in Paris, France.

The ‘2024 Korea-France Content Forum’ featured a keynote session (K-OTT’s Strategies in Global market) presenting K-OTT’s strategies for international expansion and a roundtable session (Strategies in the Era of Streaming) discussing the growth of OTT platforms and collaborative approaches with production companies.
The forum featured participation from various industry leaders including Kun hee Park (CEO, Wavve Americas), Sangjin Lee (Head of content IP Business, LG U+), Seung ae Sohn (Executive Director, Showbox), Ji ae Sohn (Ambassador for Cultural Cooperation), Moonju Kim (General Director, France Business Center, KOCCA), Isabelle Degeorges (President, Gaumont Television France) which produced the French Netflix original series, participated.
Strategy announcement by Wavve Americas (KOCAWA), the first K-OTT’s launched in Europe
During the Keynote Session, Park Kun Hee – CEO of Wavve Americas, the first domestic OTT Platform to launch services in Europe, Took the stage to discuss the international expansion strategy of KOCOWA, which started offering services in 39 countries including Europe since April of this year. Following this, Lee Sangjin, Head of Content IP Business of LG U+, presented the expansion strategy of LG U+ Mobile TV, encompassing diverse original content.
During the round-table session, participants shared thoughts and solutions regarding the survival strategies of local OTT platforms and production companies amidst the rapid waves of change brought about by the emergence of global OTT platforms.
In particular, through this forum, we were able to observe the proactive implementation of IP protection policies by local production companies in France, aimed at sustainable content creation. Isabelle Degeorges, CEO of Gaumont Television France, noted, “With the introduction of the European Audiovisual Media Services Directive (AVMSD), platforms and production companies can share IPs three years after supplying the content.” Kim Moon-joo, Director of the Korea Creative Content Agency’s France Business Center, participated as a panelist, introducing policies aimed at enhancing the competitiveness of K-OTT and fostering collaboration with production companies.
Park Kun Hee, CEO of Wavve Americas, who participated in the event, stated, “It was a meaningful opportunity to introduce our platform locally in Europe in line with KOCOWA’s expansion into the region”. Additionally, Kyoungbon Koo, Director Broadcasting & Video Content Division at KOCCA commented, “It was a meaningful occasion to not only introduce K-OTT’s strategies to Europe but also to exchange ideas on collaboration between Korea and France. We will continue to focus on activating various forms of collaboration with major international partners in the future”.
KOCCA supports the overseas expansion of excellent domestic OTT content and platforms through the newly established Local OTT Specialized Support Program this year. This initiative aims to enhance the competitiveness of domestic OTT platforms and content by adapting to the changing industrial environment.
Photo – https://mma.prnewswire.com/media/2421769/Korea_France_Content_Forum_Photo.jpg

View original content:https://www.prnewswire.co.uk/news-releases/overseas-expansion-strategy-of-k-ott-introduced-in-france-kocca-holds-the-2024-korea-france-content-forum-302155362.html

Artificial Intelligence

IoT Node and Gateway Market worth $604.7 billion by 2029 – Exclusive Report by MarketsandMarkets™

Published

1 day ago

May 24, 2024

CISION (PR Newswire)

CHICAGO, May 24, 2024 /PRNewswire/ — The IoT Node and Gateway market is projected to grow from USD 424.6 billion in 2024 and is estimated to reach USD 604.7 billion by 2029; it is expected to grow at a Compound Annual Growth Rate (CAGR) of 7.3% from 2024 to 2029 according to a new report by MarketsandMarkets™. The growth of the IoT Node and Gateway market is driven by the Provision of increased IP address space through IPv6, Emergence of 5G technology, and Increasing need for data centers.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=248007097
Browse in-depth TOC on “IoT Node and Gateway Market”
410 – Tables70 – Figures390 – Pages
IoT Node and Gateway Market Report Scope:
Report Coverage
Details
Market Revenue in 2024
$ 424.6 billion
Estimated Value by 2029
$ 604.7 billion
Growth Rate
Poised to grow at a CAGR of 7.3%
Market Size Available for
2020–2029
Forecast Period
2024–2029
Forecast Units
Value (USD Million/Billion)
Report Coverage
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered
By Hardware, End-use Application and Region
Geographies Covered
North America, Europe, Asia Pacific, and Rest of World
Key Market Challenge
Requirement for wireless spectrum and licensed spectrum
Key Market Opportunities
Accelerated IoT adoption in healthcare sector
Key Market Drivers
Rising use of wireless smart sensors and networks
By Hardware, the Logic Devices are projected to grow at a high CAGR of IoT Node and Gateway market during the forecast period.
Logic devices can adapt to changing requirements even after deployment. As new features or functionalities are needed, the logic within the device can be reprogrammed to accommodate these changes, extending the useful life of the product and reducing the need for hardware revisions. The integration of FPGA technology into IoT devices further enhances these advantages. The integration of FPGAs into IoT nodes and gateways empowers manufacturers to develop highly optimized, customizable, and scalable solutions that meet the diverse needs of IoT applications. Tesla’s Full Self-Driving (FSD) computer utilizes FPGAs to handle complex neural network computations for autonomous driving algorithms. This allows them to potentially improve their FSD capabilities through software updates that reconfigure the logic within the FPGAs.
BFSI segment in IoT Node and Gateway Market is projected to grow at a highest CAGR during the forecast period.
BFSI sector can use IoT technology to provide more convenient solutions for customers. IoT can be used to perform data collection in real time and for instant communication between devices. For instance, it can facilitate cashless payments using an RFID scanner to identify products in the shopping cart and mobile wallet. The adoption of mobile point of sale (mPOS) systems and kiosks is fundamentally reshaping the landscape of the BFSI market. mPOS facilitates transactions anytime, anywhere, benefiting unbanked populations and enabling temporary service points for events. Kiosks offer convenient banking functionalities, reducing wait times and freeing up staff for complex inquiries. These technologies drive cost savings by requiring less investment and automating routine tasks, allowing resources to be reallocated strategically. They provide rich data for personalized services, fraud detection, and operational optimization. mPOS systems and kiosks promote financial inclusion by extending services to remote areas, fostering economic activity and well-being.
Inquiry Before Buying: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=248007097
North America accounts for the largest share in IoT Node and Gateway Industry.
The North American IoT market is poised to grow, driven by government efforts to transition cities into smart urban centers. The growing need for sophisticated IoT solutions, fueled by the widespread availability of high-speed data, will further propel market expansion in this region. Furthermore, North America’s dynamic IoT node and gateway ecosystem features established players like Intel Corporation (US), Texas Instruments Incorporated (US), Dell (US), and Cisco Systems (US), driving competition, innovation, and affordability. Increasing research and development at industry levels is broadening the application areas of IoT in various industries, such as retail, consumer electronics, automotive and transportation, and healthcare, especially in the US. The increased demand for effective solutions and focus on early, accurate, and fast diagnosis of diseases has led to huge investments in technological developments in the healthcare sector.
Key Players
Key companies operating in the IoT Node and Gateway companies are Intel Corporation (US), Qualcomm Technologies, Inc. (US), Texas Instruments Incorporated (US), STMicroelectronics (Switzerland), Microchip Technology Inc. (US), Huawei Technologies Co., Ltd. (China), NXP Semiconductors N.V. (Netherlands), Cisco Systems, Inc. (US), Hewlett Packard Enterprise Development LP (US), TE Connectivity Ltd (Switzerland), Advantech Co., Ltd. (Taiwan), Dell Technologies (US), among others.
Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=248007097
Browse Adjacent Market: Semiconductor and Electronics Market Research Reports &Consulting
Related Reports:
IoT Technology Market by Node Component (Sensor, Memory Device, Connectivity IC, Processor, Logic Devices), Software Solution (Remote Monitoring, Data Management), Platform, Service, End-use Application, Geography – Global Forecast to 2029
Industrial IoT Market Size, Share & Industry Growth Analysis Report by Device & Technology, Connectivity Type, Software, Vertical (Manufacturing, Energy, Oil & Gas, Healthcare, Retail, Transportation, Metals & Mining, Agriculture), and Geography – Global Growth Driver and Industry Forecast to 2026
Internet of Robotic Things Market (IoRT) by Component (Sensor, Power, Control), Service (Professional, Managed), Platform (Device, Application, Network), Software (Analytics, Data, Security, Monitoring, Bandwidth), Application – Global Forecast to 2022
MulteFire Market by Device (Small Cells, Switches, Controllers), Application (Industrial Manufacturing, Commercial, Transportation, Public Venues, Healthcare, Oil & Gas and Mining, Power Generation, Hospitality), and Geography – Global forecast 2025
Smart Robots Market Size, Share by Component (Sensors, Actuators, Control Systems), Type, Operating Environment, Mobility, Application (Domestic, Field/Agricultural, Public Relations, Industrial), and Region – Global Forecast to 2025
About MarketsandMarkets™
MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.
Contact: Mr. Aashish MehraMarketsandMarkets™ INC. 630 Dundee RoadSuite 430Northbrook, IL 60062USA: +1-888-600-6441Email: [email protected] Our Web Site: https://www.marketsandmarkets.com/Research Insight: https://www.marketsandmarkets.com/ResearchInsight/iot-gateway-market.aspContent Source: https://www.marketsandmarkets.com/PressReleases/iot-gateway.asp
Logo: https://mma.prnewswire.com/media/1951202/4609423/MarketsandMarkets.jpg

View original content:https://www.prnewswire.co.uk/news-releases/iot-node-and-gateway-market-worth-604-7-billion-by-2029—exclusive-report-by-marketsandmarkets-302155034.html

intouchcx-applauded-by-frost-&-sullivan-for-enabling-seamless,-effortless,-and-memorable-customer-interactions-with-its-innovation-led-solutions-suite

Artificial Intelligence5 days ago

IntouchCX Applauded by Frost & Sullivan for Enabling Seamless, Effortless, and Memorable Customer Interactions with Its Innovation-led Solutions Suite