Artificial Intelligence
[Latest] Global Light Commercial Vehicle Market Size/Share Worth USD 17.6 Trillion by 2032 at a 9.5% CAGR: Custom Market Insights (Analysis, Outlook, Leaders, Report, Trends, Forecast, Segmentation, Growth, Growth Rate, Value)
Austin, TX, USA, Aug. 14, 2023 (GLOBE NEWSWIRE) — Custom Market Insights has published a new research report titled “Light Commercial Vehicle Market Size, Trends and Insights By Vehicle Type (Pickup Trucks, Light Trucks, Others), By Propulsion Type (Internal Combustion Engine (ICE), EV), By Application (Commercial Use, Industrial Use) and By Region – Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2023–2032” in its research database.
“According to the latest research study, the demand of global Light Commercial Vehicle Market size & share was valued at approximately USD 8.2 Trillion in 2022 and is expected to reach USD 9.1 Trillion in 2023 and is expected to reach a value of around USD 17.6 Trillion by 2032, at a compound annual growth rate (CAGR) of about 9.5% during the forecast period 2023 to 2032.”
Click Here to Access a Free Sample Report of the Global Light Commercial Vehicle Market @ https://www.custommarketinsights.com/request-for-free-sample/?reportid=25050
Light Commercial Vehicle Market: Overview
The light commercial vehicles are used for business purposes to move passengers or products. Vans, pickup trucks, chassis and double cabs, and other vehicles are together referred to as LCVs. The growth of light commercial vehicles is primarily impacted by the expansion of e-commerce as well as the growing use of commercial cars for transportation.
The market for light commercial vehicles is also expected to rise as a result of rising industrialization, e-mobility acceptance in commercial sectors, and infrastructure development that supports the expansion & development of the automotive industry. It is utilized in many different industries, including manufacturing, agriculture, transportation and logistics, and many more.
Some of the key drivers influencing the market pace of light commercial vehicles during the projection period are industrial expansion and increasing penetration of electric-powered cars in light commercial vehicles.
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Growth Factors
Despite the market’s recent weak development, it is anticipated that light commercial vehicle sales would go up overall, particularly in developing nations. In the upcoming years, growth in the market for light commercial vehicles is predicted to be boosted by digitization and increased infrastructure expenditure.
Light commercial vehicle sales are increasing globally for several reasons, including the quick rise in population and urbanization, the development of infrastructure, and the expansion of the industrial sector. Construction, mining, and tourism are just a few of the industries that are growing along with the industrial sector, particularly in emerging nations.
Jobs are more readily available, which has boosted commuting traffic and raised demand for public transportation. E-commerce and digital transformation both significantly contribute to the growth of the transportation and logistics industry. Infrastructure development is being aided by rising industry. In order to advance the transportation and logistics industries in regions, governments are also spending a significant amount on building road infrastructure.
Due to the expansion of the transportation network, as well as strong roads and connections, the tourist sector is also growing. The demand for rental cars has increased over the past several years due to the trend of destination weddings and other events. The building and mining sectors have benefited from urbanization.
Moreover, the e-commerce is another driver boosting the sales of the light commercial vehicles during the forecast period. The freight carriers handle the shipment of goods from merchants to customers of these e-commerce platforms.
The e-commerce sector also makes use of third-party logistics services to manage and watch over the supply chains of e-commerce businesses, allowing these businesses to concentrate on marketing and other company activities. Several light commercial trucks are used by these third-party logistic companies, including FedEx, XPO Logistics, and DHL, to transport the cargo to the closest product delivery point.
Due to the fact that smaller LCVs are more fuel-efficient than heavier commercial vehicles while driving within a city, these businesses have a greater fleet of LCVS. Additionally, the adoption of effective light commercial vehicles in the e-commerce industry is growing at a substantial rate due to the multiple benefits offered by various vehicle manufacturers to freight transporters, which is fueling the growth of the light commercial vehicle market.
(A free sample of the Light Commercial Vehicle report is available upon request; please contact us for more information.)
Our Free Sample Report Consists of the following:
- Introduction, Overview, and in-depth industry analysis are all included in the 2023 updated report.
- The COVID-19 Pandemic Outbreak Impact Analysis is included in the package.
- About 220+ Pages Research Report (Including Recent Research)
- Provide detailed chapter-by-chapter guidance on the Request.
- Updated Regional Analysis with a Graphical Representation of Size, Share, and Trends for the Year 2023
- Includes Tables and figures have been updated.
- The most recent version of the report includes the Top Market Players, their Business Strategies, Sales Volume, and Revenue Analysis
- Custom Market Insights (CMI) research methodology
(Please note that the sample of the Light Commercial Vehicle report has been modified to include the COVID-19 impact study prior to delivery.)
Request a Customized Copy of the Light Commercial Vehicle Market Report @ https://www.custommarketinsights.com/report/light-commercial-vehicle-market/
Segmental Overview
The market for light commercial vehicle is segmented into the vehicle type, and propulsion type. According to the vehicle type, the light trucks category has a dominating presence in the light commercial market during the forecast period. The availability of a wider variety of applications in several sectors, as well as this expanded use in numerous industries, has increased demand for effective and potent light commercial vehicles, which has gained market share.
The market for light commercial vehicles is anticipated to grow significantly as a result of the development of sensor technologies, artificial intelligence, maps, and advanced processing capabilities. The increasing use of smaller engines in these vehicles is another element in the growth of the market for light commercial trucks.
The global market is divided into I.C. engines and EVs depending on the manner of propulsion. In 2021, the I.C. category led the market and is anticipated to expand at a moderate rate over the forecast period. The segment is growing for a number of reasons, including the technical advancements in the field of I.C. engines that will increase vehicle performance and efficiency.
The development of high-performance I.C. engines would be further accelerated by the fact that they produce fewer carbon emissions and provide a variety of combustion modes, such as homogeneous charge compression ignition (HCCI).
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Key questions answered in this report:
- What is the size of the Light Commercial Vehicle market and what is its expected growth rate?
- What are the primary driving factors that push the Light Commercial Vehicle market forward?
- What are the Light Commercial Vehicle Industry’s top companies?
- What are the different categories that the Light Commercial Vehicle Market caters to?
- What will be the fastest-growing segment or region?
- In the value chain, what role do essential players play?
- What is the procedure for getting a free copy of the Light Commercial Vehicle market sample report and company profiles?
Key Offerings:
- Market Share, Size & Forecast by Revenue | 2023−2032
- Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Leading Trends
- Market Segmentation – A detailed analysis by Types of Services, by End-User Services, and by regions
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
Buy this Premium Light Commercial Vehicle Research Report | Fast Delivery Available – [220+ Pages] @ https://www.custommarketinsights.com/report/light-commercial-vehicle-market/
Regional Overview
The biggest market share of the total market was held by the North American region in the light commercial vehicle industry. Due to the U.S.’s high rate of commercial vehicle adoption, North America has risen to the top of the worldwide commercial vehicle industry. Some of the key drivers of the market growth in North America are industrial development, infrastructural expansion, and governmental rules governing the maximum carrying capacity for commercial trucks.
Moreover, it is anticipated that in the upcoming years, demand for light commercial vehicles would increase due to increased acceptance of electric and battery-powered vehicle as well as government programs to encourage their use in order to reduce carbon emissions.
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(We customized your report to meet your specific research requirements. Inquire with our sales team about customizing your report.)
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Browse the full “Light Commercial Vehicle Market Size, Trends and Insights By Vehicle Type (Pickup Trucks, Light Trucks, Others), By Propulsion Type (Internal Combustion Engine (ICE), EV), By Application (Commercial Use, Industrial Use) and By Region – Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2023–2032” Report at https://www.custommarketinsights.com/report/light-commercial-vehicle-market/
Report Scope
| Feature of the Report | Details |
| Market Size in 2023 | USD 9.1 Trillion |
| Projected Market Size in 2032 | USD 17.6 Trillion |
| Market Size in 2022 | USD 8.2. Trillion |
| CAGR Growth Rate | 9.5% CAGR |
| Base Year | 2022 |
| Forecast Period | 2023-2032 |
| Key Segment | By Vehicle Type, Propulsion Type and Region |
| Report Coverage | Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends |
| Regional Scope | North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America |
| Buying Options | Request tailored purchasing options to fulfil your requirements for research. |
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Spectacular Deals
- Comprehensive coverage
- Maximum number of market tables and figures
- The subscription-based option is offered.
- Best price guarantee
- Free 35% or 60 hours of customization.
- Free post-sale service assistance.
- 25% discount on your next purchase.
- Service guarantees are available.
- Personalized market brief by author.
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Competitive Landscape/ Key Players Insights
The players have implemented various strategies to expand in the global light commercial vehicle market. The study contains a thorough competitive analysis of the major light commercial vehicle market participants and information on their company overviews, recent developments, and vital business strategies.
Some of the prominent players
- Ashok Leyland
- Ford Motor Company
- General Motors
- Honda Motor Company
- Hyundai Motor Company
- Isuzu Motors
- Renault Group
- Gaz Group
- Tata Motors
- Toyota Motors
- Others
Click Here to Get a Free Sample Report of the Global Light Commercial Vehicle Market @ https://www.custommarketinsights.com/report/light-commercial-vehicle-market/
The global Light commercial vehicle market is segmented as follows:
By Vehicle Type
- Pickup Trucks
- Light Trucks
- Others
By Propulsion Type
- Internal Combustion Engine (ICE)
- EV
By Application
- Commercial Use
- Industrial Use
Request a Customized Copy of the Light Commercial Vehicle Market Report @ https://www.custommarketinsights.com/report/light-commercial-vehicle-market/
By Region
North America
- The U.S.
- Canada
- Mexico
Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia Pacific
The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of the Middle East & Africa
Latin America
- Brazil
- Argentina
- Rest of Latin America
This Light Commercial Vehicle Market Research/Analysis Report Contains Answers to the following Questions.
- Which Trends Are Causing These Developments?
- Who Are the Global Key Players in This Light Commercial Vehicle Market? What are Their Company Profile, Product Information, and Contact Information?
- What Was the Global Market Status of the Light Commercial Vehicle Market? What Was the Capacity, Production Value, Cost and PROFIT of the Light Commercial Vehicle Market?
- What Is the Current Market Status of the Light Commercial Vehicle Industry? What’s Market Competition in This Industry, Both Company and Country Wise? What’s Market Analysis of Light Commercial Vehicle Market by Considering Applications and Types?
- What Are Projections of the Global Light Commercial Vehicle Industry Considering Capacity, Production and Production Value? What Will Be the Estimation of Cost and Profit? What Will Be Market Share, Supply and Consumption? What about imports and exports?
- What Is Light Commercial Vehicle Market Chain Analysis by Upstream Raw Materials and Downstream Industry?
- What Is the Economic Impact On Light Commercial Vehicle Industry? What are Global Macroeconomic Environment Analysis Results? What Are Global Macroeconomic Environment Development Trends?
- What Are Market Dynamics of Light Commercial Vehicle Market? What Are Challenges and Opportunities?
- What Should Be Entry Strategies, Countermeasures to Economic Impact, and Marketing Channels for Light Commercial Vehicle Industry?
Click Here to Access a Free Sample Report of the Global Light Commercial Vehicle Market @ https://www.custommarketinsights.com/report/light-commercial-vehicle-market/
Reasons to Purchase Light Commercial Vehicle Market Report
- Light Commercial Vehicle Market Report provides qualitative and quantitative analysis of the market based on segmentation involving economic and non-economic factors.
- Light Commercial Vehicle Market report outlines market value (USD) data for each segment and sub-segment.
- This report indicates the region and segment expected to witness the fastest growth and dominate the market.
- Light Commercial Vehicle Market Analysis by geography highlights the consumption of the product/service in the region and indicates the factors affecting the market within each region.
- The competitive landscape incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled.
- Extensive company profiles comprising company overview, company insights, product benchmarking, and SWOT analysis for the major market players.
- The Industry’s current and future market outlook concerning recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging and developed regions.
- Light Commercial Vehicle Market Includes in-depth market analysis from various perspectives through Porter’s five forces analysis and provides insight into the market through Value Chain.
Reasons for the Research Report
- The study provides a thorough overview of the global Light Commercial Vehicle market. Compare your performance to that of the market as a whole.
- Aim to maintain competitiveness while innovations from established key players fuel market growth.
Buy this Premium Light Commercial Vehicle Research Report | Fast Delivery Available – [220+ Pages] @ https://www.custommarketinsights.com/report/light-commercial-vehicle-market/
What does the report include?
- Drivers, restrictions, and opportunities are among the qualitative elements covered in the worldwide Light Commercial Vehicle market analysis.
- The competitive environment of current and potential participants in the Light Commercial Vehicle market is covered in the report, as well as those companies’ strategic product development ambitions.
- According to the component, application, and industry vertical, this study analyzes the market qualitatively and quantitatively. Additionally, the report offers comparable data for the important regions.
- For each segment mentioned above, actual market sizes and forecasts have been given.
Who should buy this report?
- Participants and stakeholders worldwide Light Commercial Vehicle market should find this report useful. The research will be useful to all market participants in the Light Commercial Vehicle industry.
- Managers in the Light Commercial Vehicle sector are interested in publishing up-to-date and projected data about the worldwide Light Commercial Vehicle market.
- Governmental agencies, regulatory bodies, decision-makers, and organizations want to invest in Light Commercial Vehicle products’ market trends.
- Market insights are sought for by analysts, researchers, educators, strategy managers, and government organizations to develop plans.
Request a Customized Copy of the Light Commercial Vehicle Market Report @ https://www.custommarketinsights.com/report/light-commercial-vehicle-market/
About Custom Market Insights:
Custom Market Insights is a market research and advisory company delivering business insights and market research reports to large, small, and medium-scale enterprises. We assist clients with strategies and business policies and regularly work towards achieving sustainable growth in their respective domains.
CMI provides a one-stop solution for data collection to investment advice. The expert analysis of our company digs out essential factors that help to understand the significance and impact of market dynamics. The professional experts apply clients inside on the aspects such as strategies for future estimation fall, forecasting or opportunity to grow, and consumer survey.
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Artificial Intelligence
Bitrue expands Bitcoin Runes Offerings with GPTV Listing and Staking Options
VICTORIA, Seychelles, May 3, 2024 /PRNewswire/ — Leading digital asset exchange Bitrue continues its community-driven approach with the listing of a new Bitcoin Runes token, GPTV•AI•PEPE•KING (GPTV). This follows the recent addition of several other Bitcoin Runes tokens to the platform, including SATOSHI•NAKAMOTO (SATOSHI), LOBO•THE•WOLF•PUP (LOBO), RSIC•GENESIS•RUNE (RSIC), and DOG•GO•TO•THE•MOON (DOG). Trading for the GPTV/USDT pair commenced on April 30th, 2024.
What is GPTV?
GPTV is the native token of AI PEPE KING, a project claiming to be the “largest AI Meme Community” with a presence on both the Polygon (AIPEPE) and Bitcoin Runes (GPTV) blockchains. Notably, AI PEPE KING secured a $10 million investment to develop AI-powered customer service tools leveraging the ChatGPT technology. Additionally, they are building a “Dream Lottery” system. Revenue generated from these products is earmarked for buybacks and burns of both AIPEPE and GPTV tokens, potentially influencing their long-term value.
Staking Opportunities with Attractive Yields
Bitrue is also offering users staking opportunities for those holding BTR, AIPEPE, RSIC, or DOG tokens. By staking their holdings, users can earn rewards in GPTV, with estimated annual percentage yield (APY) varying on the staked token, with BTR offering 22.15%, AIPEPE at 23.18%, RSIC boasting a higher 31.37%, and DOG coming in at 23.62%. These yields present a potentially lucrative opportunity for users to grow their cryptocurrency holdings, but also come with financial risk and the potential for investment to return much lower yields.
Bitrue’s Focus on Community Engagement
The listing of these Bitcoin Runes tokens is a testament to Bitrue’s commitment to its user base. The decision to add these tokens stemmed from a community poll conducted through an X poll on Bitrue’s X account. This highlights the exchange’s dedication to incorporating community feedback into its decision-making process, fostering a sense of collaboration and shared interest.
With the addition of GPTV and the introduction of staking opportunities, Bitrue continues to expand its offerings for users interested in the burgeoning world of Bitcoin Runes tokens. The exchange’s focus on community engagement further strengthens its position as a platform that prioritizes user input and satisfaction.
About Bitrue
Launched in July 2018, Bitrue is a diversified digital asset exchange that supports trading, loans and investments. Bitrue aims to utilize blockchain technology to bring financial opportunities to everybody regardless of their location or financial position. With offices in Asia and Europe, the business continues to develop new features at a rapid speed to fully service the new wave of the digital economy. More information is available at Bitrue’s website.
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Artificial Intelligence
5G Enterprise Market Projected to Reach $115.81 billion by 2030 – Exclusive Report by 360iResearch
PUNE, India, May 2, 2024 /PRNewswire/ — The report titled “5G Enterprise Market by Equipment (Distributed Antenna System, Radio Node, Service Node), Organization Size (Large Enterprises, SMEs), End User – Global Forecast 2024-2030” is now available on 360iResearch.com’s offering, presents an analysis indicating that the market projected to grow from a size of $17.30 billion in 2023 to reach $115.81 billion by 2030, at a CAGR of 31.20% over the forecast period.
“The Pivotal Role of 5G Technology in Enterprise Evolution”
The advent of 5G technology marks a transformative era for businesses worldwide, offering exceptional speed, reduced latency, and enhanced connectivity that promise to elevate operational efficiency and digital innovation across various sectors. From enabling precise real-time monitoring and predictive maintenance in manufacturing to advancing telemedicine and seamless data collaborations in healthcare, 5G stands as a cornerstone for future advancements. Its pivotal role is revolutionizing transportation by supporting autonomous vehicles and smart infrastructure, significantly elevating safety and efficiency. The surge in 5G enterprise adoption is fueled by the growing need for robust and swift network connections to accommodate an increasing array of Internet of Things (IoT) devices and applications. Challenges include the substantial upfront costs associated with 5G infrastructure and concerns over data security. The potential for 5G to spur innovation is immense, mainly through the development of 5G-as-a-Service (5GaaS) and its synergy with cutting-edge technologies such as edge computing and artificial intelligence. Regionally, North America is major in adoption, supported by significant telecom investments, while the European Union’s concerted efforts bolster 5G integration across industries. The Middle East’s ambitions to become a significant region globally in 5G through smart city and industrial automation investments distinguish it. In contrast, the APAC region’s rapid growth is supported by early adoption and extensive government support, particularly in South Korea, China, and Japan. Thus, 5G is set to redefine enterprise operations, driving innovation and enabling smart solutions globally, heralding a new chapter in digital transformation for industries worldwide.
Download Sample Report @ https://www.360iresearch.com/library/intelligence/5g-enterprise
“5G’s Role in Advancing Industry 4.0 and Digital Innovations”
In today’s fast-evolving digital age, the seamless integration of cutting-edge technologies such as artificial intelligence (AI), the Internet of Things (IoT), and blockchain into everyday business operations is becoming increasingly crucial. This integration is driving a significant surge in the need for uninterrupted, high-speed network coverage across various sectors. As technologies become more affordable and their performance enhanced, their adoption in both private and public sectors is witnessing a remarkable increase, paving the way for innovative payment solutions and digital currencies. This transformation reshapes diverse commercial landscapes, including entertainment, journalism, advertising, and retail. Consequently, the demand for 5G connectivity is escalating, recognized for its capability to deliver speeds of 15 to 20 Gbps, connect a vast array of devices, and facilitate the creation of virtual networks tailored to specific needs. Moreover, as Industry 4.0 propels manufacturing into the digital era with its emphasis on automation and digital technologies, the role of 5G in supporting these advancements becomes indispensable. By enabling faster connectivity for AI, data analytics, IoT, blockchain, and machine learning applications, 5G is at the forefront of improving operational efficiency and flexibility in the manufacturing sector, setting the stage for the exponential growth of the 5G enterprise market.
“The Integral Role of Radio Nodes, DAS, and Service Nodes in Enhancing 5G Networks”
In the rapidly evolving world of 5G networks, the harmonious functioning of radio nodes, distributed antenna systems (DAS), and service nodes plays a pivotal role in ensuring uninterrupted, high-speed connectivity across diverse environments. Radio nodes, vital for facilitating direct communication between devices, including smartphones and tablets, ensure the seamless execution of critical radio functions such as modulation and demodulation. They shine especially in areas where a robust, reliable connection is paramount, catering to the needs of densely populated zones. DAS is used in complexes such as stadiums and large buildings, working behind the scenes to boost wireless coverage through a network of strategically placed antenna nodes. This ensures that every corner is connected, enhancing user experience in challenging architectural layouts. Meanwhile, service nodes are the backbone of network management, orchestrating essential functions, including user authentication and mobility management, enabling smooth delivery of services throughout the 5G ecosystem. These components overcome physical and technological hurdles and lay down the infrastructure critical for delivering the next generation of wireless connectivity.
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“Telefonaktiebolaget LM Ericsson at the Forefront of 5G Enterprise Market with a Strong 16.19% Market Share”
The key players in the 5G Enterprise Market include Huawei Technologies Co., Ltd., Deutsche Telekom AG, Nokia Corporation, Telefonaktiebolaget LM Ericsson, AT&T Inc., and others. These prominent players focus on strategies such as expansions, acquisitions, joint ventures, and developing new products to strengthen their market positions.
“Introducing ThinkMi: Revolutionizing Market Intelligence with AI-Powered Insights for the 5G Enterprise Market”
We proudly unveil ThinkMi, a cutting-edge AI product designed to transform how businesses interact with the 5G Enterprise Market. ThinkMi stands out as your premier market intelligence partner, delivering unparalleled insights with the power of artificial intelligence. Whether deciphering market trends or offering actionable intelligence, ThinkMi is engineered to provide precise, relevant answers to your most critical business questions. This revolutionary tool is more than just an information source; it’s a strategic asset that empowers your decision-making with up-to-the-minute data, ensuring you stay ahead in the fiercely competitive 5G Enterprise Market. Embrace the future of market analysis with ThinkMi, where informed decisions lead to remarkable growth.
Ask Question to ThinkMi @ https://app.360iresearch.com/library/intelligence/5g-enterprise
“Dive into the 5G Enterprise Market Landscape: Explore 181 Pages of Insights, 298 Tables, and 22 Figures”
PrefaceResearch MethodologyExecutive SummaryMarket OverviewMarket Insights5G Enterprise Market, by Equipment5G Enterprise Market, by Organization Size5G Enterprise Market, by End UserAmericas 5G Enterprise MarketAsia-Pacific 5G Enterprise MarketEurope, Middle East & Africa 5G Enterprise MarketCompetitive LandscapeCompetitive PortfolioInquire Before Buying @ https://www.360iresearch.com/library/intelligence/5g-enterprise
Related Reports:
5G Non-Terrestrial Network Market – Global Forecast 2024-20305G in Defense Market – Global Forecast 2024-20305G Satellite Communication Market – Global Forecast 2024-2030About 360iResearch
Founded in 2017, 360iResearch is a market research and business consulting company headquartered in India, with clients and focus markets spanning the globe.
We are a dynamic, nimble company that believes in carving ambitious, purposeful goals and achieving them with the backing of our greatest asset — our people.
Quick on our feet, we have our ear to the ground when it comes to market intelligence and volatility. Our market intelligence is diligent, real-time and tailored to your needs, and arms you with all the insight that empowers strategic decision-making.
Our clientele encompasses about 80% of the Fortune Global 500, and leading consulting and research companies and academic institutions that rely on our expertise in compiling data in niche markets. Our meta-insights are intelligent, impactful and infinite, and translate into actionable data that support your quest for enhanced profitability, tapping into niche markets, and exploring new revenue opportunities.
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Artificial Intelligence
SimSpace Welcomes Matt Knutsen as New Chief Revenue Officer to Spearhead Expansion Plan
SimSpace strengthens their leadership team, appointing Knutsen to drive revenue growth for the company as it expands further into the public sector
BOSTON, May 2, 2024 /PRNewswire/ — SimSpace, the US-based industry leader in AI-Powered cyber ranges, announced today the appointment of Matt Knutsen as its new Chief Revenue Officer (CRO). Matt will champion SimSpace’s global sales and revenue growth strategy. He will drive expansion initiatives and foster strategic partnerships to stress test businesses’ and state agencies’ people, processes and technologies against the most advanced adversaries.
With more than 20 years of experience in the field, Matt most recently held the position of CRO at cyber training provider Immersive Labs, where he increased revenue growth by over 4000% and attracted over $180M in investment. He also launched the company into new markets, expanding the team across Australia, Europe, the Middle East, New Zealand and the US. The combination of Matt’s wealth of experience and his in-depth industry knowledge make him well-equipped to lead SimSpace’s next phase of growth.
As nation-state attacks rise in frequency, and AI drives a new wave of severe cyberattacks, companies also have to navigate uncertain economic conditions. SimSpace empowers organizations to cut unnecessary spending through stack optimization, allowing CISOs to maximize their ROI and effectiveness of their technology stack. Knutsen’s influence in the field will propel the SimSpace Platform to new heights, advancing access for companies and governments that need to optimize their cybersecurity defenses and safeguard their critical infrastructure from an increasingly volatile threat landscape.
Matt Knutsen is the most recent addition to SimSpace’s Executive Leadership Team, following Clint Sand’s appointment as Chief Product Officer in February 2024. His appointment underscores SimSpace’s continued growth trajectory, headed by the $45M they secured in funding from L2 Point Management, bringing the total capital raised over the past year to $70M. The company has also bolstered their presence in the public sector, marked by their recent partnership with Carahsoft and their multi-year contract with Florida to enhance the state’s cybersecurity preparedness. SimSpace’s high fidelity cyber ranges and simulations will enable state agencies and programs like Cyber Florida to rehearse and respond to cyberattacks.
Commenting on Matt’s arrival, SimSpace CEO William Hutchison said, “Matt is a seasoned executive, who has accumulated years of knowledge on cybersecurity best practices and established himself as a leading authority in cyber range exercises. His industry influence, strategic vision and conviction in the importance of cybersecurity preparedness will shape the future success of the company at this crucial time of expansion. With Matt leading our revenue organization, we have full confidence in our capacity to deepen our valued partnerships and build strong, new connections which will further elevate SimSpace’s position as a trusted cybersecurity partner.”
Matt Knutsen, Chief Revenue Officer commented, “I’m looking forward to bringing a proactive approach to cybersecurity risk management to even more private and public sector organizations. I’ve already been impressed by SimSpace’s high-fidelity cyber range simulations, both on and off premise. It’s a great time to be joining the company and I’m excited to build upon SimSpace’s recent rapid growth with even more partnerships.”
About SimSpace
SimSpace is the global leader in AI-Powered cyber ranges, founded by experts from U.S. Cyber Command and MIT’s Lincoln Laboratory to respond to a new era of unprecedented cyber threats. Having raised nearly $70 million in funding over the past year, the company’s Platform enables the most sophisticated enterprises, governments, and critical national infrastructure organizations to find intelligence-driven answers to the most vexing security, governance, training, and cyber readiness questions. SimSpace provides high-fidelity cybersecurity simulations, training, and safe live-fire exercises to Fortune 2000 financial, retail, insurance, and other commercial markets. SimSpace’s Platform results in an average reduction in cyber operational costs of 30% and a 40% reduction in breaches.
For more information, please visit: www.SimSpace.com.
View original content:https://www.prnewswire.co.uk/news-releases/simspace-welcomes-matt-knutsen-as-new-chief-revenue-officer-to-spearhead-expansion-plan-302134892.html
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