Artificial Intelligence
Capgemini reports strong half-year performance: robust growth and improved operating margin
Media relations:
Victoire Grux
Tel.: +33 6 04 52 16 55
[email protected]
Investor relations:
Vincent Biraud
Tel.: +33 1 47 54 50 87
[email protected]
Capgemini reports strong half-year performance:
robust growth and improved operating margin
- H1 2023 revenues of €11,426 million, up +6.9%
- Growth at constant exchange rates* of +7.9% in H1 and +5.2% in Q2
- Operating margin rate* up +20 basis points to 12.4%
- Organic free cash flow* of -€53 million
- €2 billion to be invested over 3 years in Artificial Intelligence
Paris, July 28, 2023 – The Board of Directors of Capgemini SE, chaired by Paul Hermelin, convened yesterday in Paris to review and adopt the accounts1 of Capgemini Group for the first half of 2023.
Aiman Ezzat, Chief Executive Officer of the Capgemini Group, said: “The Group delivered another solid performance in the first half. In a softer economic environment, as expected, we achieved 7.9% revenue growth at constant exchange rates and operating margin improvement. These results put us among the leaders in our industry.
Thanks to a strong strategic positioning, we continue to gain market share as we accompany our clients in their transition towards a digital and sustainable economy.
I am convinced that generative AI will play a major role in this transition. The Group will invest €2 billion in Artificial Intelligence to build its leadership in this breakthrough technology, that must be deployed responsibly, reliably, and sustainably. We are developing a portfolio of industry-specific offers and signing strategic partnerships, notably with Google Cloud and Microsoft, while training most of our workforce through our Data & AI Campus to fully leverage the power of generative AI in our operations. We have many client projects underway, a strong pipeline, and plan to double Data & AI teams to 60,000 in the next three years.
We confirm all our 2023 objectives announced at the beginning of the year for revenue growth, operating margin improvement and free cash flow.”
1ST HALF KEY FIGURES
| (in millions of euros) | H1 2022 |
H1 2023 |
Change |
| Revenues | 10,688 | 11,426 | +6.9% |
| Operating margin* | 1,301 | 1,413 | +9% |
| as a % of revenues | 12.2% | 12.4% | +0.2pt |
| Operating profit | 1,068 | 1,151 | +8% |
| as a % of revenues | 10.0% | 10.1% | +0.1pt |
| Net profit (Group share) | 667 | 809 | +21% |
| Basic earnings per share (€) | 3.91 | 4.70 | |
| Normalized earnings per share (€)* | 5.03 a | 5.80 | |
| Organic free cash flow* | 193 | –53 | –246 |
| Net cash / (Net debt)* | (4,094) | (3,244) | |
| a Excluding tax expenses of 29 million euros in H1 2022, related to the impact of the US tax reform. | |||
Capgemini generated revenues of €11,426 million in H1 2023, up +6.9% on a reported basis and +7.9% at constant exchange rates. Organic growth* (i.e., excluding the impacts of currency fluctuations and changes in Group scope) is +7.3%.
After two years of record growth, the more challenging macro-economic environment led to a slowdown in line with Group expectations. Capgemini growth in the second quarter was therefore lower than in the first, reaching +5.2% at constant exchange rates and +4.7% on an organic basis, despite a particularly demanding comparison base (growth at constant exchange rates of +19.3% in Q2 2022).
This performance is driven by good momentum in Capgemini’s high added-value services, particularly in the area of Intelligent Industry, as well as in activities driven by Cloud, Data & Artificial Intelligence, which are the foundation of Group clients’ major digital transformation projects.
Bookings totaled €11,968 million in the first half of 2023. Given the particularly demanding comparison base, with growth of +22% in H1 2022, this represents an increase of +4% at constant exchange rates. The book-to-bill ratio is 1.05 for H1, reflecting ongoing robust commercial momentum.
The operating margin* is €1,413 million, or 12.4% of revenues, an increase of +9% or +20 basis points year-on-year. In line with Group expectations, the shift in the project mix, towards more innovative and value creating offers, more than offset the higher operating cost base.
Other operating income and expenses represent a net expense of €262 million, up €29 million year-on-year.
Capgemini’s operating profit is therefore up +8% at €1,151 million, or 10.1% of revenues.
The net financial expense is €22 million, down €49 million on H1 2022.
The income tax expense is €313 million. The effective tax rate is 27.8% in H1 2023, compared with 29.9% in H1 2022 (excluding tax expenses related to the impact of the US tax reform2).
Taking into account the share of profits of associates and non-controlling interests for -€7 million, the Group share in net profit is up +21% year-on-year at €809 million for the first six months of 2023. Basic earnings per share also rose by +20% year-on-year to €4.70. Normalized earnings per share* reached €5.80, compared with €4.87 in H1 2022 and €5.03 excluding tax expenses related to the impact of the US tax reform.
Finally, as anticipated, organic free cash flow* generation was negative for the first half of 2023, at -€53 million.
OPERATIONS BY REGION
The United Kingdom and Ireland region (12% of Group revenues in H1 2023) reported robust growth of +12.0% at constant exchange rates. This performance was mainly driven by Public Sector and Manufacturing, Consumer Goods & Retail and Financial Services sectors. Operating margin remains at the same high level as in H1 2022, at 18.4%.
The Rest of Europe region (30% of Group revenues) remained very dynamic, with growth of +11.4% at constant exchange rates. This was mainly driven by Manufacturing and Public Sector, while Financial Services, TMT (Telecoms, Media and Technology) and Energy & Utilities continued to perform well. Operating margin was up 70 basis points to reach 10.5%.
France (20% of Group revenues) reported revenue growth of +9.2% at constant exchange rates driven primarily by strong growth in Manufacturing, in addition to continued growth in Financial Services, Consumer Goods & Retail and Public Sector. Operating margin improved by 40 basis points year-on-year, to reach 11.1%.
Revenues in North America (29% of Group revenues) reported a moderate growth of +3.0% at constant exchange rates. The Manufacturing and Services sectors remained buoyant. By contrast, the Financial Services sector reported limited growth, while TMT and Consumer Goods & Retail sectors contracted slightly. Operating margin was 15.2%, compared to 15.5% in the first half of 2022.
Finally, revenues in Asia-Pacific and Latin America region (9% of Group revenues) increased by +4.8% at constant exchange rates. This growth was driven exclusively by Asia-Pacific region’s momentum – now essentially organic – which was fueled by the Manufacturing, Consumer Goods & Retail and Financial Services sectors. The region reported an operating margin of 10.2%, up from 9.7% in H1 2022.
OPERATIONS BY BUSINESS
Strategy & Transformation services (8% of Group total revenues* in H1 2023) posted growth in total revenues of +12.2% at constant exchange rates compared to H1 2022. This ongoing sustained momentum reflects the importance placed by Group clients on the most strategic and value-creating projects.
Applications & Technology services (63% of Group revenues and Capgemini’s core business) recorded solid growth in total revenues of +8.1% at constant exchange rates.
Finally, Operations & Engineering total revenues (29% of Group revenues) grew +6.1% at constant exchange rates.
OPERATIONS IN Q2 2023
Capgemini’s performance in Q2 2023 was a prolongation of the trends observed since the beginning of the year, extending as expected the gradual slowdown that began in the previous quarter. Group revenues totaled €5,697 million, up +5.2% at constant exchange rates and +4.7% adjusted for Group scope and exchange rate impacts.
Momentum remained robust in the United Kingdom and Ireland and Rest of Europe regions in Q2, with constant currency revenue growth of +10.2% and +9.0%, respectively, underpinned by strong growth in Manufacturing and Public Sector. Activity remained buoyant in France, with revenues up +6.2% also supported by the dynamic Manufacturing sector. As in the previous quarter, the deceleration in North America was stronger than at Group level. Revenues in the region were stable at constant exchange rates on Q2 2022, penalized by the contraction recorded in Consumer Goods & Retail and TMT sectors, as well as a marked slowdown in Financial Services. Finally, revenues in the Asia-Pacific and Latin America region increased moderately by +1.4%.
Bookings reached €6,101 million in the second quarter. Given the particularly demanding comparison base, this represents an increase of +1% at constant exchange rates. The book-to-bill ratio of 1.07 is above last years’ average for a Q2.
HEADCOUNT
At June 30, 2023, the Group’s total headcount stood at 349,500, down slightly by -1% year-on-year. The “onshore” workforce nonetheless grew by +3% to 148,300 employees, while the “offshore” workforce contracted by -3% to 201,200 employees, i.e., 58% of the total headcount.
BALANCE SHEET
Capgemini’s balance sheet structure was relatively unchanged in H1 2023.
At June 30, 2023, the Group had cash and cash equivalents and cash management assets of €3.8 billion. After accounting for borrowings of €7.0 billion, Capgemini net debt* stands at €3.2 billion at June 30, 2023, compared with €4.1 billion at June 30, 2022 and €2.6 billion at December 31, 2022.
On the back of its solid cash position, the Group redeemed in full and at maturity its €1.0 billion bond issued in July 2015 after the H1 closing, on July 3, 2023.
OUTLOOK
The Group’s financial targets for 2023 are:
- Revenue growth of +4% to +7% at constant currency;
- Operating margin of 13.0% to 13.2%;
- Organic free cash flow of around €1.8 billion.
The inorganic contribution to growth should be 0.5 points at the lower end of the target range and 1.0 point at the upper end.
CONFERENCE CALL
Aiman Ezzat, Chief Executive Officer, accompanied by Carole Ferrand, Chief Financial Officer, and Olivier Sevillia, Chief Operating Officer, will present this press release during a conference call in English to be held today at 8.00 a.m. Paris time (CET). You can follow this conference call live via webcast at the following link. A replay will also be available for a period of one year.
All documents relating to this publication will be posted on the Capgemini investor website at https://investors.capgemini.com/en/.
PROVISIONAL CALENDAR
November 7, 2023 Q3 2023 revenues
February 14, 2024 FY 2023 results
April 30, 2024 Q1 2024 revenues
May 16, 2024 Shareholders’ Meeting
DISCLAIMER
This press release may contain forward-looking statements. Such statements may include projections, estimates, assumptions, statements regarding plans, objectives, intentions and/or expectations with respect to future financial results, events, operations and services and product development, as well as statements, regarding future performance or events. Forward-looking statements are generally identified by the words “expects”, “anticipates”, “believes”, “intends”, “estimates”, “plans”, “projects”, “may”, “would”, “should” or the negatives of these terms and similar expressions. Although Capgemini’s management currently believes that the expectations reflected in such forward-looking statements are reasonable, investors are cautioned that forward-looking statements are subject to various risks and uncertainties (including, without limitation, risks identified in Capgemini’s Universal Registration Document available on Capgemini’s website), because they relate to future events and depend on future circumstances that may or may not occur and may be different from those anticipated, many of which are difficult to predict and generally beyond the control of Capgemini. Actual results and developments may differ materially from those expressed in, implied by or projected by forward-looking statements. Forward-looking statements are not intended to and do not give any assurances or comfort as to future events or results. Other than as required by applicable law, Capgemini does not undertake any obligation to update or revise any forward-looking statement.
This press release does not contain or constitute an offer of securities for sale or an invitation or inducement to invest in securities in France, the United States or any other jurisdiction.
ABOUT CAPGEMINI
Capgemini is a global leader in partnering with companies to transform and manage their business by harnessing the power of technology. The Group is guided everyday by its purpose of unleashing human energy through technology for an inclusive and sustainable future. It is a responsible and diverse organization of nearly 350,000 team members in more than 50 countries. With its strong 55-year heritage and deep industry expertise, Capgemini is trusted by its clients to address the entire breadth of their business needs, from strategy and design to operations, fueled by the fast evolving and innovative world of cloud, data, AI, connectivity, software, digital engineering and platforms. The Group reported 2022 global revenues of €22 billion.
Get the Future You Want | www.capgemini.com
* *
*
APPENDICES3
BUSINESS CLASSIFICATION
- Strategy & Transformation includes all strategy, innovation and transformation consulting services.
- Applications & Technology brings together “Application Services” and related activities and notably local technology services.
- Operations & Engineering encompasses all other Group businesses. These comprise Business Services (including Business Process Outsourcing and transaction services), all Infrastructure and Cloud services, and R&D and Engineering services.
DEFINITIONS
Organic growth or like-for-like growth in revenues is the growth rate calculated at constant Group scope and exchange rates. The Group scope and exchange rates used are those for the reported period. Exchange rates for the reported period are also used to calculate growth at constant exchange rates.
| Reconciliation of growth rates | Q1 2023 | Q2 2023 | H1 2023 |
| Organic growth | +10.1% | +4.7% | +7.3% |
| Changes in Group scope | +0.6 pts | +0.5 pts | +0.6 pts |
| Growth at constant exchange rates | +10.7% | +5.2% | +7.9% |
| Exchange rate fluctuations | +0.2 pts | -2.0 pts | -1.0 pt |
| Reported growth | +10.9% | +3.2% | +6.9% |
When determining activity trends by business and in accordance with internal operating performance measures, growth at constant exchange rates is calculated based on total revenues, i.e., before elimination of inter-business billing. The Group considers this to be more representative of activity levels by business. As its businesses change, an increasing number of contracts require a range of business expertise for delivery, leading to a rise in inter-business flows.
Operating margin is one of the Group’s key performance indicators. It is defined as the difference between revenues and operating costs. It is calculated before “Other operating income and expense” which include amortization of intangible assets recognized in business combinations, the charge resulting from the deferred recognition of the fair value of shares granted to employees (including social security contributions and employer contributions), and non-recurring revenues and expenses, notably impairment of goodwill, negative goodwill, capital gains or losses on disposals of consolidated companies or businesses, restructuring costs incurred under a detailed formal plan approved by the Group’s Management, the cost of acquiring and integrating companies acquired by the Group, including earn-outs comprising conditions of presence, and the effects of curtailments, settlements and transfers of defined benefit pension plans.
Normalized net profit is equal to profit for the period (Group share) adjusted for the impact of items recognized in “Other operating income and expense”, net of tax calculated using the effective tax rate. Normalized earnings per share is computed like basic earnings per share, i.e. excluding dilution.
Organic free cash flow is equal to cash flow from operations less acquisitions of property, plant, equipment and intangible assets (net of disposals) and repayments of lease liabilities, adjusted for cash out relating to the net interest cost.
Net debt (or net cash and cash equivalents) comprises (i) cash and cash equivalents, as presented in the Consolidated Statement of Cash Flows (consisting of short-term investments and cash at bank) less bank overdrafts, (ii) cash management assets (assets presented separately in the Consolidated Statement of Financial Position due to their characteristics), less (iii) short- and long-term borrowings. Account is also taken of (iv) the impact of hedging instruments when these relate to borrowings, inter-company loans and own shares.
RESULTS BY REGION
| Revenues | Year-on-year growth | Operating margin rate | |||||
| H1 2023 (in millions of euros) |
Reported | At constant exchange rates | H1 2022 |
H1 2023 |
|||
| North America | 3,288 | +3.7% | +3.0% | 15.5% | 15.2% | ||
| United Kingdom and Ireland | 1,386 | +7.7% | +12.0% | 18.4% | 18.4% | ||
| France | 2,308 | +9.2% | +9.2% | 10.7% | 11.1% | ||
| Rest of Europe | 3,472 | +9.8% | +11.4% | 9.8% | 10.5% | ||
| Asia-Pacific and Latin America | 972 | +1.6% | +4.8% | 9.7% | 10.2% | ||
| TOTAL | 11,426 | +6.9% | +7.9% | 12.2% | 12.4% | ||
OPERATIONS BY BUSINESS
| Total revenues | Year-on-year growth | ||
| H1 2023 (% of Group revenues) |
At constant exchange rates in Total revenues of the business |
||
| Strategy & Transformation | 8% | +12.2% | |
| Applications & Technology | 63% | +8.1% | |
| Operations & Engineering | 29% | +6.1% |
SUMMARY INCOME STATEMENT AND OPERATING MARGIN
| (in millions of euros) | H1 2022 |
H1 2023 |
Change |
| Revenues | 10,688 | 11,426 | +6.9% |
| Operating expenses | (9,387) | (10,013) | |
| Operating margin | 1,301 | 1,413 | +9% |
| as a % of revenues | 12.2% | 12.4% | |
| Other operating income and expense | (233) | (262) | |
| Operating profit | 1,068 | 1,151 | +8% |
| as a % of revenues | 10.0% | 10.1% | |
| Net financial expense | (71) | (22) | |
| Income tax income/(expense) | (327) | (313) | |
| (-) Non-controlling interests and share of profit of associates | (3) | (7) | |
| Net profit (Group share) | 667 | 809 | +21% |
NORMALIZED AND DILUTED EARNINGS PER SHARE
| (in millions of euros) | H1 2022 |
H1 2023 |
Change |
| Average number of shares outstanding | 170,561,706 | 171,947,414 | |
| BASIC EARNINGS PER SHARE (in euros) | 3.91 | 4.70 | +20% |
| Diluted average number of shares outstanding | 176,218,421 | 178,089,362 | |
| DILUTED EARNINGS PER SHARE (in euros) | 3.78 | 4.54 | +20% |
| (in millions of euros) | H1 2022 |
H1 2023 |
Change |
| Net profit (Group share) | 667 | 809 | +21% |
| Effective tax rate, excluding exceptional tax expenses | 29.9% | 27.8% | |
| (-) Other operating income and expenses, net of tax | 163 | 189 | |
| Normalized profit for the period | 830 | 998 | |
| Average number of shares outstanding | 170,561,706 | 171,947,414 | |
| NORMALIZED EARNINGS PER SHARE (in euros) | 4.87 | 5.80 | +19% |
In H1 2022, the Group recorded tax expenses of €29 million related to the impact of the US tax reform and which, taking into account the average number of shares outstanding, represented an amount of €0.16 per share. Adjusted for these tax expenses, normalized earnings per share were therefore €5.03.
CHANGE IN CASH AND CASH EQUIVALENTS AND ORGANIC FREE CASH FLOW
| (in millions of euros) | H1 2022 |
H1 2023 |
| Net cash from operating activities | 569 | 244 |
| Acquisitions of property, plant and equipment and intangible assets, net of disposals | (145) | (125) |
| Net interest cost | (74) | (24) |
| Repayments of lease liabilities | (157) | (148) |
| ORGANIC FREE CASH FLOW | 193 | (53) |
| Other cash flows from (used in) investing and financing activities | (964) | (481) |
| Increase (decrease) in cash and cash equivalents | (771) | (534) |
| Effect of exchange rate fluctuations | 25 | (70) |
| Opening cash and cash equivalents, net of bank overdrafts | 3,119 | 3,795 |
| Closing cash and cash equivalents, net of bank overdrafts | 2,373 | 3,191 |
NET DEBT
| (in millions of euros) | June 30, 2022 | December 31, 2022 | June 30, 2023 |
| Cash and cash equivalents | 2,403 | 3,802 | 3,195 |
| Bank overdrafts | (30) | (7) | (4) |
| Cash and cash equivalents, net of bank overdrafts | 2,373 | 3,795 | 3 ,191 |
| Cash management assets | 415 | 386 | 575 |
| Long-term borrowings | (6,649) | (5,655) | (5,663) |
| Short-term borrowings and bank overdrafts | (200) | (1,102) | (1,339) |
| (-) Bank overdrafts | 30 | 7 | 4 |
| Borrowings, excluding bank overdrafts | (6,819) | (6,750) | (6,998) |
| Derivative instruments | (63) | 3 | (12) |
| NET CASH / (NET DEBT) | (4,094) | (2,566) | (3,244) |
1 Limited review procedures on the interim consolidated financial statements have been completed. The auditors are in the process of issuing their report.
2 Up to 29 million euros in H1 2022 and 73 million euros for the full year 2022.
3 Note that in the appendix, certain totals may not equal the sum of amounts due to rounding adjustments.
Attachments
Artificial Intelligence
ADQ Appoints Modon as Master Developer for Ras El Hekma Megaproject in Egypt
In the presence of Mohamed bin Zayed Al Nahyan and Abdel Fattah El-Sisi
The event marked the signing of several significant agreements aimed at driving the development of the new destinationABU DHABI, UAE, Oct. 4, 2024 /PRNewswire/ — In the presence of President His Highness Sheikh Mohamed bin Zayed Al Nahyan, and His Excellency Abdel Fattah El-Sisi, President of the Arab Republic of Egypt, ADQ, an Abu Dhabi-based investment and holding company, appointed Modon Holding PSC as the master developer for the Ras El Hekma megaproject.
In addition to being master developer for the entire development spanning 170 million square metres, Modon Holding will undertake the responsibility of the developer role for the first phase of the envisaged city consisting of 50 million square metres.
The remaining 120 million square metres, which are part of the master plan presented by Modon Holding, will be developed in partnership with prominent developers from Egypt, the UAE, and the international community under the oversight of the recently established ADQ subsidiary Ras El Hekma Urban Development Project Company and Modon Holding.
This iconic project represents a major milestone for Modon Holding by significantly increasing its land under development outside the UAE. Ras El Hekma is located around 350 kilometres northwest of Cairo and envisioned as a fully functional, smart, sustainable, and inclusive urban community situated against the scenic coastline.
The project is expected to become a powerful economic engine, with cumulative investments anticipated to reach US$110 billion by 2045, an annual GDP contribution of around US$25 billion, and approximately 750,000 jobs to be created, both directly and indirectly.
Upon completion, the development will be home to two million people and feature more than 40 kilometres of green spines, set to make Ras El Hekma the greenest megaproject in the region.
As a result of Ras El Hekma’s location within a four-hour flight for over 400 million outbound tourists, the establishment of tourism infrastructure will be a priority during the first phases of the development, encompassing an international airport as well as high-speed rail connectivity. The masterplan also includes residential areas, office spaces, hospitality venues, retail, leisure, and recreation facilities.
Ras El Hekma will have an international marina and a special free zone. Additionally, Modon Holding will look to develop infrastructure to support a range of high-growth industries, including business services, financial services, light manufacturing, and technology.
His Excellency Jassem Mohamed Bu Ataba Al Zaabi, Chairman of Modon Holding, said, “Ras El Hekma is destined to become a regional crown jewel in a country already famed for its rich and diverse attractions. Modon Holding is proud to bring this 170-million-square-metre visionary megaproject to life, leveraging our expertise and innovative approach. With our partners, we are poised to transform Ras El Hekma into a dynamic economic powerhouse and a global model for urban development.”
His Excellency Mohamed Hassan Alsuwaidi, Managing Director and Group Chief Executive Officer of ADQ, said, “As a project of unprecedented scale and impact, Ras El Hekma will be a catalyst for the development of Egypt’s economy by offering opportunities for businesses and stimulate tourism. Modon Holding brings a wealth of expertise in master planning and will pioneer state-of-the-art, innovative solutions, creating a destination that will deliver long-term value for Egypt and its people.”
Bill O’Regan, Group CEO of Modon Holding, said, “The Ras El Hekma destination is one of the Group’s most significant investment and development projects outside the UAE. The project provides an incredible development pipeline, and Modon Holding looks forward to delivering a destination that will be an exceptional experience for visitors and residents alike.”
During the ceremony, Modon Holding PSC engaged with the initial major partners to join in the development of the Ras El Hekma megaproject on Egypt’s stunning Mediterranean coast.
Ras El Hekma is set to become a leading urban and tourist hub, boasting a wide array of attractions and amenities. Modon Holding aims to harness its large-scale development expertise, collaborating with local, regional, and global partners to bring this visionary destination masterplan to life.
These collaborative efforts, combined with a focus on diverse entertainment, sports, cultural events, and top-tier community management, will position Ras El Hekma as a premier Mediterranean destination.
While the immediate focus is on tourism and hospitality, Modon’s long-term vision for the 170-square-metre site also includes business services, financial services, light manufacturing, and technology.
Modon Engages First Batch of Investors and Partners in Landmark Ceremony
On 4th October, in a momentous ceremony attended by President His Highness Sheikh Mohamed bin Zayed Al Nahyan and Egyptian President His Excellency Abdel Fattah El-Sisi, Modon proudly initiated the engagement of its first group of investors and partners.
The event marked the signing of several significant agreements aimed at driving the development of the new destination:
– A framework agreement with Orascom Construction, designating them as one of the primary contractors for the initial phase of the project.
– A memorandum of understanding with Elsewedy Electric to explore opportunities for supplying building materials and collaborating on industrial parks, manufacturing, operations, and maintenance.
– A memorandum of understanding with Abu Dhabi Airports to collaborate in airport strategic planning, design, development, and operational support.
– A memorandum of understanding with TAQA to explore cooperation opportunities in relation to the development, financing, and operation of greenfield utilities infrastructure projects, water desalination projects, electricity transmission and distribution projects and wastewater projects.
– A memorandum of understanding with Valderrama for the development and operation of golf communities.
– A memorandum of understanding with e& Egypt to facilitate the design and implementation of smart city infrastructure, including digital connectivity, fiber networks, and 5G; smart building technologies and IoT-enabled solutions for residential and commercial properties; city-wide data collection, monitoring, and analytics systems; smart utilities, encompassing automated energy management, water, and waste systems; smart transportation systems; and any other mutually agreed smart city services.
– A memorandum of understanding with Candy International aims to explore luxury real estate development opportunities, leveraging Candy’s extensive international reach.
– A memorandum of understanding with Montage International for the development and management of luxury hotels in Ras El Hekma.
– A memorandum of understanding with Accor and Ennismore to operate hotels and resorts in Ras El Hekma.
– Finally, a memorandum of understanding with Burjeel Holding to develop multi-specialty healthcare facilities, implement innovative healthcare solutions, provide medical training programmes, and collaborate on public health initiatives and community wellness programmes.
These strategic partnerships underscore Modon’s commitment to creating a world-class destination, fostering innovation, and enhancing the quality of life for Ras El Hekma’s future residents.
His Excellency Jassem Mohamed Bu Ataba Al Zaabi, said, “Ras El Hekma represents a visionary and multifaceted endeavour that promises to make a substantial contribution to the Egyptian economy. Crafting a masterplan of such scale demands specialised expertise and capabilities across diverse industries, which can only be realised through robust strategic partnerships. We look forward to working with our partners present and future in harnessing the full potential of this extraordinary location.”
Bill O’Regan, said, “Ras El Hekma is an extraordinarily ambitious and complex project that will significantly contribute to the Egyptian economy through various stages of planning, design, and construction, ultimately bringing this new destination to life. Developing and delivering a masterplan of this magnitude requires sector-specific expertise and capabilities across a wide range of industries and is achievable only through strong strategic partnerships.”
About ADQEstablished in 2018, ADQ is an Abu Dhabi-based investment and holding company with a broad portfolio of major enterprises. Its investments span key sectors of the UAE’s diversified economy including energy and utilities, food and agriculture, healthcare and life sciences, and transport and logistics, amongst others. As a strategic partner to the Government of Abu Dhabi, ADQ is committed to accelerating the transformation of the Emirate into a globally competitive and knowledge-based economy.
For more information, visit adq.ae or write to [email protected]. You can also follow ADQ on Instagram, LinkedIn and X.
About Modon HoldingModon develops vibrant communities, unique hospitality and lifestyle experiences, and world-class sports facilities. Based in Abu Dhabi, Modon Holding is a Private Joint Stock company listed on the ADX Growth Market with the shareholding of ADQ and the IHC Group being our majority shareholders. Through a diversified business portfolio in the UAE, we are engaged in strategic investment and innovation on an unrivalled scale, shaping future smart living. Our goal is to deliver long-term, sustainable value, laying the foundations for intelligent, connected living.
Ras El-Hekma Urban Development Project CompanyA wholly owned subsidiary of ADQ, an Abu Dhabi-based investment and holding company, Ras El Hikma Urban Development Project Company S.A.E. (RED) is mandated to oversee the execution of the Ras El Hekma project, a 170 million square meter visionary megacity located on Egypt’s north coast. Established in March 2024 and based in Egypt, RED holds the ownership rights of the Ras El-Hekma as well as responsibility for the implementation of the multi-phase project together with its partners, which include Modon Holding as the master developer.
Photo – https://mma.prnewswire.com/media/2523688/Modon_ADQ.jpg
View original content:https://www.prnewswire.co.uk/news-releases/adq-appoints-modon-as-master-developer-for-ras-el-hekma-megaproject-in-egypt-302267927.html
Artificial Intelligence
Electronic Access Control Systems Market Set for Significant Expansion, with Projected Growth to USD 16 Billion by 2031: Market Research Intellect
The Electronic Access Control System market is driven by increasing security concerns and advancements in technology. As businesses and institutions face growing threats, there is a rising demand for sophisticated access control solutions to protect assets and data. Technological innovations, including biometrics, IoT integration, and cloud-based systems, enhance system functionality and appeal. Additionally, the trend toward smart buildings and stringent regulatory requirements further fuels the market’s expansion, reflecting a broadening need for advanced security solutions.
LEWES, Del., Oct. 4, 2024 /PRNewswire/ — The Electronic Access Control System market is projected to grow from approximately USD 10 billion in 2024 to USD 16 billion by 2031, achieving a compound annual growth rate (CAGR) of around 7.5%. This growth is driven by rising security needs, advancements in technology, and increased adoption of smart and connected security solutions across various sectors.
Download PDF Brochure: https://www.marketresearchintellect.com/download-sample/?rid=194769
202 – Pages126 – Tables37 – Figures
Scope Of The Report
REPORT ATTRIBUTES
DETAILS
STUDY PERIOD
2020-2031
BASE YEAR
2023
FORECAST PERIOD
2024-2031
HISTORICAL PERIOD
2020-2023
UNIT
Value (USD Billion)
KEY COMPANIES PROFILED
Honeywell International Inc., Johnson Controls International plc, ASSA ABLOY Group, Allegion plc, Schlage (a brand of Allegion), Bosch Security Systems, Tyco International Ltd., and HID Global (an ASSA ABLOY Group brand).
SEGMENTS COVERED
By Type, By Application And By Geography
CUSTOMIZATION SCOPE
Free report customization (equivalent to up to 4 analyst working days) with purchase. Addition or alteration to country, regional & segment scope
Electronic Access Control System Market Overview
Market Size and Growth:The Electronic Access Control System market is experiencing robust growth, expected to expand from approximately USD 10 billion in 2024 to USD 16 billion by 2031, representing a compound annual growth rate (CAGR) of about 7.5%. This growth trajectory is driven by the increasing need for enhanced security solutions across various sectors, including commercial, residential, and industrial applications. The rising concerns over security breaches and unauthorized access are prompting organizations to invest in advanced access control technologies. Additionally, the growing adoption of smart buildings and connected infrastructure contributes to the market’s expansion, as these technologies offer more efficient and scalable security solutions. As the demand for higher security standards continues to rise, the EACS market is poised for substantial growth in the coming years.Technological Advancements:The EACS market is significantly influenced by rapid technological advancements. Innovations such as biometric authentication, including fingerprint and facial recognition, are enhancing the capabilities of access control systems, providing more secure and user-friendly solutions. The integration of Internet of Things (IoT) technology allows for remote monitoring and management of access control systems, increasing their flexibility and effectiveness. Cloud-based solutions are also gaining traction, offering scalable and cost-effective options for businesses of all sizes. These technological advancements not only improve security but also streamline system management and integration with other smart technologies. As the technology continues to evolve, the EACS market is expected to benefit from more sophisticated, efficient, and adaptable access control solutions that meet the growing demands for security and convenience.Market Drivers:The primary drivers of the EACS market include heightened security concerns and the need for compliance with regulatory standards. Organizations across various sectors are increasingly investing in advanced access control solutions to safeguard their assets, sensitive information, and personnel. The growing frequency of security breaches and unauthorized access incidents further amplifies the need for reliable and robust security systems. Additionally, the trend toward smart buildings and the integration of IoT technology are driving market growth by offering more sophisticated and interconnected security solutions. Regulatory requirements related to data protection and physical security are also influencing the adoption of EACS, as businesses seek to meet these standards while ensuring the safety and security of their operations.Regional Insights:The EACS market shows varying growth patterns across different regions. North America and Europe lead the market due to their high adoption rates of advanced security technologies and stringent regulatory requirements. In these regions, the emphasis on high-security standards and the presence of major market players contribute to significant market growth. Conversely, the Asia-Pacific region is emerging as a key growth area due to rapid urbanization, industrialization, and increasing investments in infrastructure development. Countries such as China and India are witnessing a surge in demand for electronic access control systems as they modernize their infrastructure and enhance security measures. The diverse regional dynamics reflect varying levels of market maturity and growth opportunities, influencing the overall global market landscape.Download Sample Report Now: https://www.marketresearchintellect.com/download-sample/?rid=194769Market Segmentation:The EACS market can be segmented based on type, application, and technology. Key types include biometric systems, card-based systems, and electronic locks. Biometric systems are gaining popularity for their high security and convenience, while card-based systems remain widely used due to their affordability and ease of integration. Electronic locks offer versatile security options for both residential and commercial applications. In terms of application, the market serves commercial buildings, residential complexes, government facilities, and industrial sites. Each segment has unique requirements and preferences, driving the development of specialized solutions. Technology-wise, advancements such as IoT integration, cloud-based systems, and mobile access are shaping the market, offering improved functionality and user experience. Understanding these segments helps stakeholders tailor their offerings to meet diverse market needs effectively.Challenges:Despite its growth, the EACS market faces several challenges. High initial investment costs can deter small and medium-sized enterprises (SMEs) from adopting advanced access control solutions. Integration complexities, particularly with existing security infrastructure, can also pose hurdles for implementation. Additionally, concerns about data privacy and cybersecurity risks associated with connected systems may affect market adoption. The rapid pace of technological advancements requires continuous updates and upgrades, adding to the cost and complexity of maintaining access control systems. Addressing these challenges involves developing cost-effective solutions, enhancing system compatibility, and ensuring robust cybersecurity measures. Overcoming these obstacles is crucial for market players to successfully expand their customer base and capture emerging opportunities in the evolving security landscape.Competitive Landscape:The EACS market is characterized by intense competition, with numerous players vying for market share. Major companies include Honeywell, Johnson Controls, ASSA ABLOY, and Allegion, each offering a range of innovative products and solutions. These players focus on technological advancements, strategic partnerships, and mergers and acquisitions to strengthen their market positions. Additionally, emerging players and startups are introducing novel solutions, contributing to market dynamism and innovation. Competitive strategies involve differentiating products through advanced features, improving customer service, and expanding distribution channels. As the market evolves, companies must stay ahead of technological trends and customer demands to maintain a competitive edge and drive growth in a rapidly changing environment.Future Outlook:The future outlook for the EACS market is promising, with continued growth expected as security concerns and technological advancements drive demand. Emerging trends such as the integration of artificial intelligence (AI) and machine learning are likely to enhance system capabilities, providing more proactive and intelligent security solutions. The growing emphasis on smart cities and connected infrastructure will further propel market growth, as EACS plays a crucial role in modernizing urban environments. Additionally, increasing awareness of data privacy and security will lead to greater adoption of advanced access control systems. As the market evolves, stakeholders should focus on innovation, user experience, and addressing emerging security challenges to capitalize on future opportunities and sustain long-term growth.Geographic Dominance:
The Electronic Access Control System market exhibits significant geographic dominance, with North America and Europe leading due to their advanced infrastructure and stringent regulatory standards. North America, particularly the United States, holds a substantial share of the market, driven by high security concerns, technological advancements, and a robust presence of major EACS providers. Europe follows closely, with countries like the UK, Germany, and France investing heavily in security solutions due to strict regulations and high adoption rates. Meanwhile, the Asia-Pacific region is emerging as a major growth area, fueled by rapid urbanization, industrial expansion, and increasing investments in smart infrastructure. Countries such as China and India are witnessing rising demand for advanced access control systems as they modernize and enhance their security measures. The diverse regional dynamics highlight varying levels of market maturity and growth potential across the globe.
Electronic Access Control System Market Key Players Shaping the Future
The Electronic Access Control System market is significantly influenced by key players such as Honeywell International Inc., Johnson Controls International plc, ASSA ABLOY Group, Allegion plc, Schlage (a brand of Allegion), Bosch Security Systems, Tyco International Ltd., and HID Global (an ASSA ABLOY Group brand). These companies are at the forefront of technological innovation and market development, shaping the future of access control solutions through their advanced products and strategic initiatives.
Electronic Access Control System Market Segment Analysis
The Electronic Access Control System market is segmented based on By Type, By Application and Geography, offering a comprehensive analysis of the industry.
By Type:
Biometric Systems: These systems use unique biological characteristics, such as fingerprints, facial recognition, and iris scans, to provide secure access. They offer high security and are increasingly adopted in sensitive areas.Card-Based Systems: These systems use magnetic stripe cards, smart cards, or proximity cards to control access. They are popular due to their affordability, ease of use, and integration capabilities.Electronic Locks: These include keypads, smart locks, and other electronic mechanisms that can be controlled remotely or via electronic credentials. They are versatile and used in various residential and commercial settings.By Application:
Commercial Buildings: EACS in commercial buildings includes office complexes, retail spaces, and hospitality venues. These systems focus on managing employee access, visitor control, and security integration.Residential Complexes: Access control systems for residential complexes include apartment buildings and gated communities, emphasizing security and convenience for residents.Government Facilities: High-security access control solutions are used in government buildings, military bases, and other critical infrastructure to ensure tight security and regulatory compliance.Industrial Sites: EACS for industrial sites manage access to sensitive areas, protect valuable assets, and ensure safety compliance in manufacturing and industrial environments.By Geography:
North America: This region leads the market due to high adoption rates of advanced security technologies, stringent regulations, and a strong presence of major market players.Europe: Europe follows closely, with significant market activity in countries such as the UK, Germany, and France, driven by regulatory standards and high security needs.Asia-Pacific: The Asia-Pacific region is emerging as a key growth area, with increasing urbanization, industrial expansion, and investments in smart infrastructure driving demand for EACS.Latin America: Growth in Latin America is fueled by increasing security concerns and infrastructural development, with a growing adoption of electronic access solutions.Middle East and Africa: The market in this region is expanding due to rising security needs and infrastructure projects, with increasing investments in advanced access control technologies. Automotive And Transportation:
The Electronic Access Control System market within the automotive and transportation sector is experiencing notable growth, driven by advancements in vehicle security and the need for enhanced access management. In vehicles, EACS technology includes electronic locks, biometric systems, and keyless entry solutions that improve convenience and security for drivers and passengers. These systems are increasingly integrated into both commercial and personal vehicles, offering features such as remote access control, advanced theft prevention, and personalized settings. In the transportation sector, EACS is utilized for secure access to restricted areas within transportation hubs, including airports, train stations, and cargo facilities. This enhances the management of personnel and vehicle access, contributing to overall safety and operational efficiency. As the demand for smarter and more secure transportation solutions grows, the EACS market is expected to expand, driven by ongoing innovations and the increasing adoption of connected technologies.
Our related Reports
Global Automotive Pneumatic Valve Market is categorized based on Type (Engine Valves, Brake Valve, Thermostat Valve, Fuel System Valve, Solenoid Valve, Exhaust Gas Recirculation Valve, Tire Valve, Water Valve, AT Control Valve, Others) and Application (Engine System, HVAC System, Brake System, Others) and geographical regions
Global Automotive Pneumatic Comfort Seat System Market is categorized based on Type (Pneumatic Lumbar Support Systems, Pneumatic Seat Cushion Systems, Pneumatic Seat Back Systems, Massage Systems, Adjustable Seat Systems) and Application (Passenger Vehicles, Commercial Vehicles, Luxury Vehicles, Sports Vehicles, Public Transportation) and geographical regions
Global Automotive Pneumatic Disc Brake Market is categorized based on Type (Cast Iron, Others) and Application (Passenger Vehicle, Commercial Vehicle) and geographical regions
Global Automotive Pneumatic Disc Brake Market is categorized based on Type (Single-piston Pneumatic Disc Brakes, Multi-piston Pneumatic Disc Brakes, Caliper Pneumatic Disc Brakes, Rotor Pneumatic Disc Brakes, Drum-in-hat Pneumatic Disc Brakes) and Application (Passenger Cars, Commercial Vehicles, Racing Cars, Heavy-duty Trucks, Off-road Vehicles) and geographical regions
Global Antibacterial Nano Coatings Market is categorized based on Application (Silver Nanoparticle Coatings, Copper Nanoparticle Coatings, Zinc Oxide Nanoparticle Coatings) and Product (Medical Devices (Implants, Catheters), Food Packaging, Textiles, Healthcare Surfaces) and geographical regions
Global Antibacterial in Agriculture Market is categorized based on Type (Amide Antibacterials, Antibiotic Antibacterials, Copper-Based Antibacterials, Dithiocarbamate Antibacterials, Other Types) and Application (Foliar Spray, Soil Treatment, Other Modes of Application) and geographical regions
About Us: Market Research Intellect
Welcome to Market Research Intellect, where we lead the way in global research and consulting, proudly serving over 5,000 esteemed clients worldwide. Our mission is to empower your business with cutting-edge analytical research solutions, delivering comprehensive, information-rich studies that are pivotal for strategic growth and critical revenue decisions.
Unmatched Expertise: Our formidable team of 250 highly skilled analysts and subject matter experts (SMEs) is the backbone of our operations. With extensive training in advanced data collection and governance, we delve into over 25,000 high-impact and niche markets. Our experts seamlessly integrate modern data collection techniques, robust research methodologies, and collective industry experience o produce precise, insightful, and actionable research.
Diverse Industry Coverage: We cater to a wide array of industries, ensuring that our insights are both relevant and specialized. Our expertise spans: Energy, Technology, Manufacturing and Construction, Chemicals and Materials, Food and Beverages
Having collaborated with numerous Fortune 2000 companies, we bring unparalleled experience and reliability to meet all your research needs. Our proven track record reflects our commitment to excellence and client satisfaction.
Contact Us:Mr. Edwyne FernandesMarket Research IntellectCall Us on: +1 743 222 5439Email: [email protected]: https://www.marketresearchintellect.com/LinkedIn: https://www.linkedin.com/company/marketresearchintellectTwitter: https://x.com/intellectmr
Logo: https://mma.prnewswire.com/media/2483702/Market_Research_Intellect_Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/electronic-access-control-systems-market-set-for-significant-expansion-with-projected-growth-to-usd-16-billion-by-2031-market-research-intellect-302267707.html
Artificial Intelligence
System-on-Chip (SoC) Market worth $205.97 billion by 2029 – Exclusive Report by MarketsandMarkets™
DELRAY BEACH, Fla., Oct. 4, 2024 /PRNewswire/ — The System-on-Chip (SoC) market is projected to grow from USD 138.46 billion in 2024 and is estimated to reach USD 205.97 billion by 2029; it is expected to grow at a Compound Annual Growth Rate (CAGR) of 8.3% from 2024 to 2029 according to a new report by MarketsandMarkets™. The growth of the System-on-Chip (SoC) market is driven with the increasing trend of SoC in automotive industry along with the adoption of IoT and connected devices that require SoCs to carry out real time processing. Moreover, the surging adoption of AI and machine learning technologies is likely to fuel the demand for system-on-chips.
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=99622125
Browse in-depth TOC on “System-on-Chip (SoC) Market”
250 – Tables73 – Figures326 – Pages
System-on-Chip (SoC) Market Report Scope:
Report Coverage
Details
Market Revenue in 2024
$ 138.46 billion
Estimated Value by 2029
$ 205.97 billion
Growth Rate
Poised to grow at a CAGR of 8.3%
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 Core Count, Core Architecture, Device and Region
Geographies Covered
North America, Europe, Asia Pacific, and Rest of World
Key Market Challenge
Rapid technological changes challenge SoC longevity
Key Market Opportunities
Growing penetration of AI PCs and GenAI smartphones
Key Market Drivers
Rising adoption of ADAS in autonomous vehicles to fuel the growth of automotive SoCs
By core architecture, RISC-V is projected to grow at a high CAGR for system-on-chip market during the forecast period
The market for System-on-Chips (SoC) for RISC-V architecture segment is expected to grow at highest CAGR during the forecast period. The RISC-V architecture is bound to grow at a higher rate in view of the flexibility, cost, and scalability advantages it has over others, driving wide adoption across diversified applications. The open-source nature of the architecture is one of the major growth drivers because it reduces licensing costs and accelerates innovation since customizations are allowed for use cases as per various needs. This flexibility is valuable in the emerging and high-growth sectors of AI, 5G, and IoT, where a solution that is tailor-made to complex requirements needs to be provided. For instance, in May 2024, Arteris, Inc. (US) and Andes Technology Corporation (Taiwan) partnered to develop the Andes Qilai RISC-V platform. It incorporates the high-performance RISC-V processor IPs from Andes Technology Corporation (Taiwan) and the FlexNoC interconnect IP from Arteris, Inc. (US). Their joint effort shows their efforts towards advancing RISC-V based SoC designs for a wide range of applications, which include AI, 5G, Networking, Mobile, Storage, AIoT, and Space. With open-source RISC-V model, such developments further continue to accelerate innovation and drive adoption in these high-growth areas, positioning RISC-V as the choice for future technology roadmaps.
The automotive segment in System-on-Chip (SoC) market will account for the high CAGR from 2024 to 2029
The SoC market for automotive segment will grow at highest CAGR during the forecast period. The SoCs integrated in automotive applications enable enhanced performance, reduced power consumption, and compact designs, which makes them essential for numerous vehicle systems. The automotive segment will experience growth due to the increasing adoption of advanced driver assistance systems (ADAS), infotainment systems, and the rising popularity of electric vehicles. EVs rely heavily on sophisticated electronics for battery management, powertrain control, and energy efficiency optimization, all of which require advanced SoCs. For instance, in June 2024, Intel Corporation (US) launched OLEA U310 SoC chip for automotive applications. It is developed to improve the performance of electric vehicles. This chip combines hardware and software in one SoC to enable seamless operation across various EV station platforms. They are designed to manage the complex systems within EVs. It ensures optimal performance, safety, and extended range. The increasing complexity of autonomous driving systems, along with the demand for safer and more reliable vehicles fuels the adoption of SoCs in the automotive industry, driving significant growth in this segment.
Inquiry Before Buying: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=99622125
Asia Pacific is expected to register the highest CAGR during the forecast period
The system-on-chip (SoC) industry in Asia Pacific includes economies such as South Korea, Japan, China, and India and Rest of Asia Pacific. The Rest of Asia Pacific countries include Australia, Singapore, the Philippines, Taiwan, Thailand, and Indonesia. There is a presence of leading SoC manufacturers in this region including MediaTek Inc. (Taiwan), Samsung (South Korea), Infineon Technologies AG (Germany), and Renesas Electronics Corporation (Japan). The Asia-Pacific region is still the biggest revenue generator in terms of SoC market globally due to the fast-growing consumer electronics and mobile device-related sectors. Other regions considered as major manufacturing centers in the world are China, South Korea, Japan, and India for making the latest smartphones, tablets, and other consumer electronic products that require state-of-the-art SoCs for delivering high performance, energy efficiency, and integrated functionalities. A highly and technologically advanced population in the region has always formed the basis for a sustained demand in terms of innovative and feature-rich devices, thereby showing sustainable growth in the SoC market. Automotive and industrial automation are another major sector driving the SoC market in Asia Pacific. This region contains some of the largest automobile manufacturers in the world, such as Hyundai Motor Company (South Korea), Toyota (Japan), and Tata Motors Limited (India). These car manufacturers are now putting SoCs into their automobiles so that they are equipped with ADAS capabilities, infotainment features, and autonomous driving technologies.
Key Players
Key companies operating in the System-on-Chip (SoC) companies are Qualcomm Technologies, Inc. (US), MediaTek Inc. (Taiwan), Samsung (South Korea), Apple Inc. (US), Broadcom (US), Intel Corporation (US), Advanced Micro Devices, Inc. (US), NVIDIA Corporation (US), HiSilicon (China), Microchip Technology Inc. (US), among others.
Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=99622125
Browse Adjacent Market: Semiconductor and Electronics Market Research Reports &Consulting
Related Reports:
Field Programmable Gate Array (FPGA) Market Size, Share & Industry Trends Analysis Report by Configuration (Low-end FPGA, Mid-range FPGA, High-end FPGA), Technology (SRAM, Flash, Antifuse), Node Size (=16 nm, 20-90 nm, >90 nm), Vertical (Telecommunications, Data Center & Computing, Automotive) & Region – Global Forecast to 2029
Chiplet Market Size, Share, Statistics and Industry Growth Analysis Report by Processor (Field-Programmable Gate Array (FPGA), Central Processing Unit (CPU), Graphics Processing Unit (GPU), APU, AI ASIC Co-Processor), Packaging Technology (SiP, FCCSP, FCBGA, 2.5D/3D, WLCSP, Fan-Out) – Global Forecast to 2028
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. Rohan SalgarkarMarketsandMarkets™ INC. 1615 South Congress Ave.Suite 103, Delray Beach, FL 33445USA: +1-888-600-6441Email: [email protected] Our Web Site: https://www.marketsandmarkets.com/Research Insight: https://www.marketsandmarkets.com/ResearchInsight/sos-companies.aspContent Source: https://www.marketsandmarkets.com/PressReleases/sos.asp
Logo: https://mma.prnewswire.com/media/1951202/4609423/MarketsandMarkets.jpg
View original content:https://www.prnewswire.co.uk/news-releases/system-on-chip-soc-market-worth-205-97-billion-by-2029—exclusive-report-by-marketsandmarkets-302267585.html
-
Artificial Intelligence7 days agoHuawei Wen Tong: 6G Needs to Embrace AI for Shaping Future Network
-
Artificial Intelligence5 days ago
Queclink Unveils the GL601 Solar-Powered Asset Tracker for Seamless Intermodal Transportation
-
Artificial Intelligence6 days agoKazakhstan Government Delegation Visited SUPCON
-
Artificial Intelligence6 days agoHuawei Peer-Recognized as a 2024 Gartner® Peer Insights™ Customers’ Choice for Enterprise Wired and Wireless LAN Infrastructure
-
Artificial Intelligence6 days agoFive Women on Stars of Science Season 16 Lead the Charge
-
Artificial Intelligence6 days agoFujitsu launches “Takane” – A large language model for enterprises offering the highest Japanese language proficiency in the world
-
Artificial Intelligence5 days agoSEMI Consortium to Develop Cybersecurity Strategy and Roadmap for the Semiconductor Industry in NIST Framework
-
Artificial Intelligence3 days ago18 of the Top 20 Medtech Companies Partner with Veeva MedTech to Get Devices and Diagnostics to Patients Faster
