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Oracle Announces Fiscal 2025 First Quarter Financial Results

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Q1 GAAP Earnings per Share up 20% to $1.03, Non-GAAP Earnings per Share up 17% to $1.39Q1 Total Revenue $13.3 billion, up 7% in USD and up 8% in constant currencyQ1 Total Remaining Performance Obligations up 53% to $99 billionQ1 Cloud Revenue (IaaS plus SaaS) $5.6 billion, up 21% in USD and up 22% in constant currencyQ1 Cloud Infrastructure (IaaS) Revenue $2.2 billion, up 45% in USD and up 46% in constant currencyQ1 Cloud Application (SaaS) Revenue $3.5 billion, up 10% in both USD and constant currencyQ1 Fusion Cloud ERP (SaaS) Revenue $0.9 billion, up 16% in USD and up 17% in constant currencyQ1 NetSuite Cloud ERP (SaaS) Revenue $0.9 billion, up 20% in both USD and constant currency

AUSTIN, Texas, Sept. 9, 2024 /PRNewswire/ — Oracle Corporation (NYSE: ORCL) today announced fiscal 2025 Q1 results. Total quarterly revenues were up 7% year-over-year in USD, and up 8% in constant currency to $13.3 billion. Cloud services revenues were up 21% year-over-year in USD, and up 22% in constant currency to $5.6 billion. Cloud license and on-premise license revenues were up 7% in USD and up 8% in constant currency to $870 million.      

Q1 GAAP operating income was $4.0 billion. Non-GAAP operating income was $5.7 billion, up 13% in USD and up 14% in constant currency. GAAP operating margin was 30%, and non-GAAP operating margin was 43%. GAAP net income was $2.9 billion. Non-GAAP net income was $4.0 billion, up 18% in USD and up 19% in constant currency. Q1 GAAP earnings per share was $1.03, up 20% in USD and up 22% in constant currency, while non-GAAP earnings per share was $1.39, up 17% in USD and up 18% in constant currency.

Short-term deferred revenues were $11.5 billion. Over the last twelve months, operating cash flow was $19.1 billion and free cash flow was $11.3 billion.

“As Cloud Services became Oracle’s largest business, both our operating income and earnings per share growth accelerated,” said Oracle CEO, Safra Catz. “Non-GAAP operating income was up 14% in constant currency to $5.7 billion, and non-GAAP EPS was up 18% in constant currency to $1.39 in Q1. RPO was up 53% from last year to a record $99 billion. That strong contract backlog will increase revenue growth throughout FY25. But the biggest news of all was signing a MultiCloud agreement with AWS—including our latest technology Exadata hardware and Version 23ai of our database software—embedded into AWS cloud datacenters. AWS customers will get easy and convenient access to the Oracle database when we go live in December later this year.”

“Oracle has 162 cloud datacenters in operation and under construction around the world,” said Oracle Chairman and CTO, Larry Ellison. “The largest of these datacenters is 800 megawatts and will contain acres of NVIDIA GPU Clusters for training large scale AI models. In Q1, 42 additional cloud GPU contracts were signed for a total of $3 billion. Our database business growth rate is increasing as a result of our MultiCloud agreements with Microsoft and Google. At the end of Q1, 7 Oracle Cloud regions were live at Microsoft with 24 more being built, and 4 Oracle Cloud regions were live at Google with 14 more being built. Our recently signed AWS contract was a milestone in the MultiCloud Era.  Soon customers will be able use the latest Oracle database technology from within every Hyperscaler’s cloud.” 

The board of directors declared a quarterly cash dividend of $0.40 per share of outstanding common stock. This dividend will be paid to stockholders of record as of the close of business on October 10, 2024, with a payment date of October 24, 2024.

A sample list of customers which purchased Oracle Cloud services during the quarter will be available at www.oracle.com/customers/earnings/.A list of recent technical innovations and announcements is available at www.oracle.com/news/.To learn what industry analysts have been saying about Oracle’s products and services see www.oracle.com/corporate/analyst-reports/.

Earnings Conference Call and Webcast
Oracle will hold a conference call and webcast today to discuss these results at 4:00 p.m. Central. A live and replay webcast will be available on the Oracle Investor Relations website at www.oracle.com/investor/. 

About Oracle
Oracle offers integrated suites of applications plus secure, autonomous infrastructure in the Oracle Cloud. For more information about Oracle (NYSE: ORCL), please visit us at www.oracle.com.

Trademarks
Oracle, Java, MySQL, and NetSuite are registered trademarks of Oracle Corporation. NetSuite was the first cloud company—ushering in the new era of cloud computing.

“Safe Harbor” Statement: Statements in this press release relating to future plans, expectations, beliefs, intentions and prospects, including the expectations for converting the Remaining Performance Obligations to revenue, the timing and build out of additional datacenters, and future growth as a result of our MultiCloud strategy, are “forward-looking statements” and are subject to material risks and uncertainties. Risks and uncertainties that could affect our current expectations and our actual results, include, among others: our ability to develop new products and services, integrate acquired products and services and enhance our existing products and services, including our AI products; our management of complex cloud and hardware offerings, including the sourcing of technologies and technology components; our ability to secure data center capacity; significant coding, manufacturing or configuration errors in our offerings; risks associated with acquisitions; economic, political and market conditions; information technology system failures, privacy and data security concerns; cybersecurity breaches; unfavorable legal proceedings, government investigations, and complex and changing laws and regulations. A detailed discussion of these factors and other risks that affect our business is contained in our SEC filings, including our most recent reports on Form 10-K and Form 10-Q, particularly under the heading “Risk Factors.” Copies of these filings are available online from the SEC or by contacting Oracle’s Investor Relations Department at (650) 506-4073 or by clicking on SEC Filings on the Oracle Investor Relations website at www.oracle.com/investor/. All information set forth in this press release is current as of September 9, 2024. Oracle undertakes no duty to update any statement in light of new information or future events.

 

ORACLE  CORPORATION

Q1 FISCAL 2025 FINANCIAL RESULTS
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
($ in millions, except per share data)

Three Months Ended August 31,

% Increase

% Increase

(Decrease)

% of 

% of 

(Decrease)

in Constant

2024

Revenues

2023

Revenues

in US $

Currency (1)

REVENUES

Cloud services and license support 

$         10,519

79 %

$           9,547

77 %

10 %

11 %

Cloud license and on-premise license

870

7 %

809

6 %

7 %

8 %

Hardware

655

5 %

714

6 %

(8 %)

(8 %)

Services

1,263

9 %

1,383

11 %

(9 %)

(8 %)

      Total revenues

13,307

100 %

12,453

100 %

7 %

8 %

OPERATING EXPENSES

Cloud services and license support 

2,597

19 %

2,179

18 %

19 %

20 %

Hardware

162

1 %

219

2 %

(26 %)

(25 %)

Services

1,147

9 %

1,212

10 %

(5 %)

(5 %)

Sales and marketing

2,036

15 %

2,026

16 %

1 %

1 %

Research and development 

2,306

17 %

2,216

18 %

4 %

5 %

General and administrative

358

3 %

393

3 %

(9 %)

(8 %)

Amortization of intangible assets

624

5 %

763

6 %

(18 %)

(18 %)

Acquisition related and other

13

0 %

11

0 %

9 %

9 %

Restructuring

73

1 %

138

1 %

(47 %)

(47 %)

      Total operating expenses 

9,316

70 %

9,157

74 %

2 %

2 %

OPERATING INCOME

3,991

30 %

3,296

26 %

21 %

22 %

Interest expense

(842)

(6 %)

(872)

(7 %)

(3 %)

(3 %)

Non-operating income (expenses), net

20

0 %

(49)

0 %

*

*

INCOME BEFORE INCOME TAXES

3,169

24 %

2,375

19 %

33 %

36 %

(Provision for) benefit from income taxes

(240)

(2 %)

45

0 %

*

*

NET INCOME

$           2,929

22 %

$           2,420

19 %

21 %

23 %

EARNINGS PER SHARE:

Basic

$              1.06

$              0.89

Diluted

$              1.03

$              0.86

WEIGHTED AVERAGE COMMON SHARES OUTSTANDING:

Basic

2,761

2,728

Diluted

2,851

2,823

(1)

We compare the percent change in the results from one period to another period using constant currency disclosure. We present constant currency 
information to provide a framework for assessing how our underlying businesses performed excluding the effect of foreign currency rate fluctuations.
To present this information, current and comparative prior period results for entities reporting in currencies other than United States dollars are
converted into United States dollars at the exchange rates in effect on May 31, 2024, which was the last day of our prior fiscal year, rather than the 
actual exchange rates in effect during the respective periods. Movements in international currencies relative to the United States dollar during the
three months ended August 31, 2024 compared with the corresponding prior year period decreased our total revenues by 1 percentage point and
operating income by 1 percentage point.

*

Not meaningful

 

ORACLE  CORPORATION

Q1 FISCAL 2025 FINANCIAL RESULTS

RECONCILIATION OF SELECTED GAAP MEASURES TO NON-GAAP MEASURES (1) 

($ in millions, except per share data)

Three Months Ended August 31,

% Increase
(Decrease)
in US $

% Increase (Decrease)
in Constant Currency
(2) 

2024

2024

2023

2023

GAAP

Non-GAAP

GAAP

Non-GAAP

GAAP

Adj.

Non-GAAP

GAAP

Adj.

Non-GAAP

TOTAL REVENUES

$       13,307

$             –

$       13,307

$       12,453

$             –

$       12,453

7 %

7 %

8 %

8 %

TOTAL OPERATING EXPENSES

$         9,316

$    (1,717)

$         7,599

$         9,157

$    (1,761)

$         7,396

2 %

3 %

2 %

3 %

     Stock-based compensation (3)

1,007

(1,007)

–

849

(849)

–

19 %

*

19 %

*

     Amortization of intangible assets (4)

624

(624)

–

763

(763)

–

(18 %)

*

(18 %)

*

     Acquisition related and other

13

(13)

–

11

(11)

–

9 %

*

9 %

*

     Restructuring

73

(73)

–

138

(138)

–

(47 %)

*

(47 %)

*

OPERATING INCOME

$         3,991

$     1,717

$         5,708

$         3,296

$     1,761

$         5,057

21 %

13 %

22 %

14 %

OPERATING MARGIN %

30 %

43 %

26 %

41 %

353 bp.

228 bp.

366 bp.

232 bp.

INCOME TAX EFFECTS (5)

$           (240)

$       (682)

$           (922)

$              45

$       (823)

$           (778)

*

18 %

*

20 %

NET INCOME

$         2,929

$     1,035

$         3,964

$         2,420

$        938

$         3,358

21 %

18 %

23 %

19 %

DILUTED EARNINGS PER SHARE

$           1.03

$           1.39

$           0.86

$           1.19

20 %

17 %

22 %

18 %

DILUTED WEIGHTED AVERAGE COMMON
SHARES OUTSTANDING

2,851

–

2,851

2,823

–

2,823

1 %

1 %

1 %

1 %

(1)

This presentation includes non-GAAP measures. Our non-GAAP measures are not meant to be considered in isolation or as a substitute for comparable GAAP measures, and should be read only in conjunction with our consolidated financial
statements prepared in accordance with GAAP. For a detailed explanation of the adjustments made to comparable GAAP measures, the reasons why management uses these measures, the usefulness of these measures and the material
limitations on the usefulness of these measures, please see Appendix A. 

(2)

We compare the percent change in the results from one period to another period using constant currency disclosure. We present constant currency information to provide a framework for assessing how our underlying businesses performed
excluding the effect of foreign currency rate fluctuations. To present this information, current and comparative prior period results for entities reporting in currencies other than United States dollars are converted into United States dollars at 
the exchange rates in effect on May 31, 2024, which was the last day of our prior fiscal year, rather than the actual exchange rates in effect during the respective periods. 

(3)

Stock-based compensation was included in the following GAAP operating expense categories:

Three Months Ended

Three Months Ended

August 31, 2024

August 31, 2023

GAAP

Adj.

Non-GAAP

GAAP

Adj.

Non-GAAP

     Cloud services and license support

$            141

$      (141)

$               –

$            111

$      (111)

$               –

     Hardware

6

(6)

–

5

(5)

–

     Services

43

(43)

–

34

(34)

–

     Sales and marketing

162

(162)

–

135

(135)

–

     Research and development

569

(569)

–

484

(484)

–

     General and administrative

86

(86)

–

80

(80)

–

           Total stock-based compensation

$         1,007

$   (1,007)

$               –

$            849

$      (849)

$               –

(4)

Estimated future annual amortization expense related to intangible assets as of August 31, 2024 was as follows:

     Remainder of fiscal 2025

$         1,683

     Fiscal 2026

1,639

     Fiscal 2027

672

     Fiscal 2028

635

     Fiscal 2029

561

     Fiscal 2030

522

     Thereafter

558

           Total intangible assets, net

$         6,270

(5)

Income tax effects were calculated reflecting an effective GAAP tax rate of 7.6% and (1.9%) in the first quarter of fiscal 2025 and 2024, respectively, and an effective non-GAAP tax rate of 18.9% and 18.8% in the first quarter of fiscal 2025
and 2024, respectively. The difference in our GAAP and non-GAAP tax rates in each of the first quarters of fiscal 2025 and 2024 was primarily due to the net tax effects related to stock-based compensation expense; acquisition related and 
other items, including the tax effects on amortization of intangible assets; and restructuring expense, partially offset by the net deferred tax effects related to an income tax benefit that was previously recorded due to the partial realignment
of our legal entity structure.

*

Not meaningful

 

ORACLE  CORPORATION

Q1 FISCAL 2025 FINANCIAL RESULTS

CONDENSED CONSOLIDATED BALANCE SHEETS

($ in millions)

August 31,

May 31,

2024

2024

ASSETS

Current Assets:

Cash and cash equivalents

$               10,616

$               10,454

Marketable securities

295

207

Trade receivables, net

8,021

7,874

Prepaid expenses and other current assets

4,140

4,019

Total Current Assets

23,072

22,554

Non-Current Assets:

   Property, plant and equipment, net

23,094

21,536

   Intangible assets, net

6,270

6,890

   Goodwill, net

62,249

62,230

   Deferred tax assets

12,219

12,273

   Other non-current assets

17,310

15,493

Total Non-Current Assets

121,142

118,422

TOTAL ASSETS

$            144,214

$            140,976

LIABILITIES AND STOCKHOLDERS’ EQUITY

Current Liabilities:

Notes payable and other borrowings, current 

$                 9,201

$               10,605

Accounts payable

2,207

2,357

Accrued compensation and related benefits

1,772

1,916

Deferred revenues

11,455

9,313

Other current liabilities

7,410

7,353

Total Current Liabilities

32,045

31,544

Non-Current Liabilities:

Notes payable and other borrowings, non-current

75,314

76,264

Income taxes payable

11,038

10,817

Deferred tax liabilities

3,442

3,692

Other non-current liabilities

11,106

9,420

Total Non-Current Liabilities

100,900

100,193

Stockholders’ Equity

11,269

9,239

TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY

$            144,214

$            140,976

 

     ORACLE  CORPORATION 

Q1 FISCAL 2025 FINANCIAL RESULTS

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

($ in millions)

Three Months Ended August 31,

2024

2023

Cash Flows From Operating Activities:

Net income 

$        2,929

$        2,420

Adjustments to reconcile net income to net cash provided by operating activities:

Depreciation

804

712

Amortization of intangible assets

624

763

Deferred income taxes

(151)

(517)

Stock-based compensation

1,007

849

Other, net

130

169

Changes in operating assets and liabilities:

(Increase) decrease in trade receivables, net

(81)

380

Decrease in prepaid expenses and other assets

367

269

Decrease in accounts payable and other liabilities

(531)

(457)

Increase in income taxes payable

24

69

Increase in deferred revenues

2,305

2,317

Net cash provided by operating activities

7,427

6,974

Cash Flows From Investing Activities:

Purchases of marketable securities and other investments

(477)

(333)

Proceeds from sales and maturities of marketable securities and other investments

15

85

Capital expenditures

(2,303)

(1,314)

Net cash used for investing activities

(2,765)

(1,562)

Cash Flows From Financing Activities:

Payments for repurchases of common stock

(150)

(150)

Proceeds from issuances of common stock

179

308

Shares repurchased for tax withholdings upon vesting of restricted stock-based awards

(851)

(1,060)

Payments of dividends to stockholders

(1,103)

(1,091)

Repayments of commercial paper, net

(396)

(562)

Proceeds from issuances of term loan credit agreements

5,627

–

Repayments of senior notes and term loan credit agreements

(7,630)

(1,000)

Other, net

(261)

27

Net cash used for financing activities

(4,585)

(3,528)

Effect of exchange rate changes on cash and cash equivalents

85

(36)

Net increase in cash and cash equivalents

162

1,848

Cash and cash equivalents at beginning of period

10,454

9,765

Cash and cash equivalents at end of period

$      10,616

$      11,613

 

 ORACLE  CORPORATION 

 Q1 FISCAL 2025 FINANCIAL RESULTS 

 FREE CASH FLOW – TRAILING 4-QUARTERS (1) 

 ($ in millions) 

 Fiscal 2024 

 Fiscal 2025 

 Q1 

 Q2 

 Q3 

 Q4 

 Q1 

 Q2 

 Q3 

 Q4 

GAAP Operating Cash Flow

$            17,745

$            17,039

$            18,239

$            18,673

$            19,126

Capital Expenditures

(8,290)

(6,935)

(5,981)

(6,866)

(7,855)

Free Cash Flow

$               9,455

$            10,104

$            12,258

$            11,807

$            11,271

Operating Cash Flow % Growth over prior year

68 %

13 %

18 %

9 %

8 %

Free Cash Flow % Growth over prior year

76 %

20 %

68 %

39 %

19 %

GAAP Net Income

$               9,375

$            10,137

$            10,642

$            10,467

$            10,976

Operating Cash Flow as a % of Net Income

189 %

168 %

171 %

178 %

174 %

Free Cash Flow as a % of Net Income

101 %

100 %

115 %

113 %

103 %

(1) To supplement our statements of cash flows presented on a GAAP basis, we use non-GAAP measures of cash flows on a trailing 4-quarter basis to analyze cash flow generated from
      operations. We believe free cash flow is also useful as one of the bases for comparing our performance with our competitors. The presentation of non-GAAP free cash flow is not meant
      to be considered in isolation or as an alternative to net income as an indicator of our performance, or as an alternative to cash flows from operating activities as a measure of liquidity.

 

 ORACLE  CORPORATION 

 Q1 FISCAL 2025 FINANCIAL RESULTS 

 SUPPLEMENTAL ANALYSIS OF GAAP REVENUES (1) 

 ($ in millions) 

 Fiscal 2024 

 Fiscal 2025 

 Q1 

 Q2 

 Q3 

 Q4 

 TOTAL 

 Q1 

 Q2 

 Q3 

 Q4 

 TOTAL 

REVENUES BY OFFERINGS

 Cloud services 

$    4,635

$    4,775

$    5,054

$    5,311

$   19,774

$    5,623

$      5,623

 License support 

4,912

4,864

4,909

4,923

19,609

4,896

4,896

 Cloud services and license support 

9,547

9,639

9,963

10,234

39,383

10,519

10,519

 Cloud license and on-premise license 

809

1,178

1,256

1,838

5,081

870

870

 Hardware 

714

756

754

842

3,066

655

655

 Services  

1,383

1,368

1,307

1,373

5,431

1,263

1,263

              Total revenues 

$  12,453

$  12,941

$  13,280

$  14,287

$   52,961

$  13,307

$   13,307

AS REPORTED REVENUE GROWTH RATES 

Cloud services

30 %

25 %

25 %

20 %

25 %

21 %

21 %

License support

2 %

2 %

1 %

0 %

1 %

0 %

0 %

 Cloud services and license support 

13 %

12 %

12 %

9 %

12 %

10 %

10 %

 Cloud license and on-premise license 

(10 %)

(18 %)

(3 %)

(15 %)

(12 %)

7 %

7 %

 Hardware 

(6 %)

(11 %)

(7 %)

(1 %)

(6 %)

(8 %)

(8 %)

 Services  

2 %

(2 %)

(5 %)

(6 %)

(3 %)

(9 %)

(9 %)

       Total revenues 

9 %

5 %

7 %

3 %

6 %

7 %

7 %

CONSTANT CURRENCY REVENUE GROWTH RATES (2)

Cloud services

29 %

24 %

24 %

20 %

24 %

22 %

22 %

License support

0 %

0 %

1 %

1 %

0 %

0 %

0 %

 Cloud services and license support  

12 %

11 %

11 %

10 %

11 %

11 %

11 %

 Cloud license and on-premise license 

(11 %)

(19 %)

(3 %)

(14 %)

(12 %)

8 %

8 %

 Hardware  

(8 %)

(12 %)

(7 %)

0 %

(7 %)

(8 %)

(8 %)

 Services  

1 %

(3 %)

(5 %)

(6 %)

(3 %)

(8 %)

(8 %)

       Total revenues 

8 %

4 %

7 %

4 %

6 %

8 %

8 %

CLOUD SERVICES AND LICENSE SUPPORT REVENUES

BY ECOSYSTEM

 Applications cloud services and license support 

$    4,471

$    4,474

$    4,584

$    4,642

$   18,172

$    4,769

$      4,769

 Infrastructure cloud services and license support 

5,076

5,165

5,379

5,592

21,211

5,750

5,750

       Total cloud services and license support revenues 

$    9,547

$    9,639

$    9,963

$  10,234

$   39,383

$  10,519

$   10,519

AS REPORTED REVENUE GROWTH RATES 

 Applications cloud services and license support 

11 %

10 %

10 %

6 %

9 %

7 %

7 %

 Infrastructure cloud services and license support 

15 %

14 %

13 %

12 %

14 %

13 %

13 %

       Total cloud services and license support revenues 

13 %

12 %

12 %

9 %

12 %

10 %

10 %

CONSTANT CURRENCY REVENUE GROWTH RATES (2)

 Applications cloud services and license support 

11 %

9 %

10 %

6 %

9 %

7 %

7 %

 Infrastructure cloud services and license support 

14 %

12 %

13 %

13 %

13 %

14 %

14 %

       Total cloud services and license support revenues 

12 %

11 %

11 %

10 %

11 %

11 %

11 %

GEOGRAPHIC REVENUES

 Americas 

$    7,841

$    8,067

$    8,270

$    8,945

$   33,122

$    8,372

$      8,372

 Europe/Middle East/Africa 

3,005

3,170

3,316

3,539

13,030

3,228

3,228

 Asia Pacific 

1,607

1,704

1,694

1,803

6,809

1,707

1,707

        Total revenues 

$  12,453

$  12,941

$  13,280

$  14,287

$   52,961

$  13,307

$   13,307

(1) The sum of the quarterly information presented may vary from the year-to-date information presented due to rounding.

(2) We compare the percent change in the results from one period to another period using constant currency disclosure. We present constant currency information to provide a framework
      for assessing how our underlying businesses performed excluding the effect of foreign currency rate fluctuations. To present this information, current and comparative prior period results
      for entities reporting in currencies other than United States dollars are converted into United States dollars at the exchange rates in effect on May 31, 2024 and 2023 for the fiscal 2025
      and fiscal 2024 constant currency growth rate calculations presented, respectively, rather than the actual exchange rates in effect during the respective periods.

 

APPENDIX A

ORACLE CORPORATION
Q1 FISCAL 2025 FINANCIAL RESULTS
EXPLANATION OF NON-GAAP MEASURES

To supplement our financial results presented on a GAAP basis, we use the non-GAAP measures indicated in the tables, which exclude certain business combination accounting entries and expenses related to acquisitions, as well as other significant expenses including stock-based compensation, that we believe are helpful in understanding our past financial performance and our future results. Our non-GAAP financial measures are not meant to be considered in isolation or as a substitute for comparable GAAP measures and should be read only in conjunction with our consolidated financial statements prepared in accordance with GAAP. Our management regularly uses our supplemental non-GAAP financial measures internally to understand, manage and evaluate our business and make operating decisions. These non-GAAP measures are among the primary factors management uses in planning for and forecasting future periods. Compensation of our executives is based in part on the performance of our business based on these non-GAAP measures. Our non-GAAP financial measures reflect adjustments based on the following items, as well as the related income tax effects:

Stock-based compensation expenses: We have excluded the effect of stock-based compensation expenses from our non-GAAP operating expenses, income tax effects and net income measures. Although stock-based compensation is a key incentive offered to our employees, and we believe such compensation contributed to the revenues earned during the periods presented and also believe it will contribute to the generation of future period revenues, we continue to evaluate our business performance excluding stock-based compensation expenses. Stock-based compensation expenses will recur in future periods.Amortization of intangible assets: We have excluded the effect of amortization of intangible assets from our non-GAAP operating expenses, income tax effects and net income measures. Amortization of intangible assets is inconsistent in amount and frequency and is significantly affected by the timing and size of our acquisitions. Investors should note that the use of intangible assets contributed to our revenues earned during the periods presented and will contribute to our future period revenues as well. Amortization of intangible assets will recur in future periods.Acquisition related and other expenses; and restructuring expenses: We have excluded the effect of acquisition related and other expenses and the effect of restructuring expenses from our non-GAAP operating expenses, income tax effects and net income measures. We incurred expenses in connection with our acquisitions and also incurred certain other operating expenses or income, which we generally would not have otherwise incurred in the periods presented as a part of our continuing operations. Acquisition related and other expenses consisted of personnel related costs for transitional and certain other employees, certain business combination adjustments including certain adjustments after the measurement period has ended, and certain other operating items, net. Restructuring expenses consisted of employee severance and other exit costs. We believe it is useful for investors to understand the effects of these items on our total operating expenses. Although acquisition related and other expenses and restructuring expenses may diminish over time with respect to past acquisitions and/or strategic initiatives, we generally will incur certain of these expenses in connection with any future acquisitions and/or strategic initiatives.

 

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Technology

Near Autonomous Passenger Car Market to Grow by USD 962.1 Billion (2024-2028), Rising Popularity of Semi-Autonomous Vehicles Drives Growth, AI Redefines Landscape – Technavio

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18 minutes ago

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November 14, 2024

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NEW YORK, Nov. 14, 2024 /PRNewswire/ — Report with market evolution powered by AI – The global near autonomous passenger car market size is estimated to grow by USD 962.1 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  60.29%  during the forecast period. Increasing popularity of semi-autonomous vehicles is driving market growth, with a trend towards increased funding for research and development of autonomous vehicles. However, concerns related to cybersecurity  poses a challenge.Key market players include Amazon.com Inc., Bayerische Motoren Werke AG, Chery Automobile Co. Ltd., Chongqing Changan Automobile Co. Ltd., Ford Motor Co., Geely Auto Group, General Motors Co., Honda Motor Co. Ltd., Hyundai Motor Co., Mazda Motor Corp., Mercedes Benz Group AG, NIO Ltd., Nissan Motor Co. Ltd., Tata Motors Ltd., Tesla Inc., Toyota Motor Corp., and Volkswagen AG.

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Near Autonomous Passenger Car Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 60.29%

Market growth 2024-2028

USD 962.1 billion

Market structure

Fragmented

YoY growth 2022-2023 (%)

42.73

Regional analysis

North America, Europe, APAC, South America, and Middle East and Africa

Performing market contribution

North America at 37%

Key countries

US, Germany, China, Japan, and France

Key companies profiled

Amazon.com Inc., Bayerische Motoren Werke AG, Chery Automobile Co. Ltd., Chongqing Changan Automobile Co. Ltd., Ford Motor Co., Geely Auto Group, General Motors Co., Honda Motor Co. Ltd., Hyundai Motor Co., Mazda Motor Corp., Mercedes Benz Group AG, NIO Ltd., Nissan Motor Co. Ltd., Tata Motors Ltd., Tesla Inc., Toyota Motor Corp., and Volkswagen AG

Market Driver

The Near Autonomous Passenger Car Market is experiencing significant growth due to the development and implementation of advanced technologies such as autonomous, driverless, and self-driving cars. These vehicles utilize sensors, cameras, radar, LiDAR, GPS, and software algorithms for navigation and safety. V2V and V2I communication, semiconductor chips, and automated driving systems are also key components. Battery management systems, energy-efficient and emission-free vehicles like battery electric vehicles, are gaining popularity due to fossil fuel price fluctuations and automotive safety concerns. Advanced safety technologies like parking assistance systems, blind spot detection, and adaptive cruise control are essential. Semi-autonomous and fully autonomous vehicles are the future of passenger cars and commercial vehicles. Mobility services like ride hailing and deep neural networks enhance transportation efficiency. Infrastructural developments and investment opportunities are crucial for the growth of autonomous vehicle technology. However, safety concerns, human error, cybersecurity threats, and technological challenges remain significant hurdles. Level 3 systems offer a balance between human control and automation, while consumer acceptance and traffic accidents are ongoing considerations. 

The near autonomous passenger car market is witnessing substantial investment from key players, including automotive manufacturers, Tier-1 suppliers, and technology providers. Companies like Mercedes Benz and Ford Motor are leading the charge, collectively investing approximately USD50 billion in autonomous vehicle technology development. Automakers have primarily focused their investments on specialized technological firms. For instance, General Motors committed USD35 billion towards EV and AV technology from 2020 to 2025. These investments aim to position companies at the forefront of the autonomous vehicle market. 

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 Market Challenges

•  The Near Autonomous Passenger Car Market is experiencing significant growth with the development of advanced technologies such as sensors, cameras, radar, LiDAR, GPS, and software algorithms. Autonomous, driverless, and self-driving cars are revolutionizing the transportation industry. However, challenges remain, including the integration of V2V and V2I communication, semiconductor chips, automated driving systems, battery management systems, and energy-efficient and emission-free vehicles. Factors like fossil fuel prices, automotive safety, and road accidents push the demand for advanced safety technologies like parking assistance systems, blind spot detection, and adaptive cruise control. Semi-autonomous and fully autonomous vehicles are the future of mobility services, with ride hailing services leading the way. Deep Neural Networks and AI systems are essential for transportation efficiency and infrastructural developments. Safety concerns, human error, and cybersecurity threats are significant challenges. Level 3 systems are gaining consumer acceptance, but technological challenges remain. Investment opportunities lie in the development of autonomous vehicle technology and self-driving technologies. The market is vast, with applications in passenger cars, commercial vehicles, and mobility services.

•  Modern near autonomous passenger cars incorporate numerous electronic control units (ECUs) and connectivity features, increasing the risk of security breaches. Hackers have successfully infiltrated the operations of connected vehicles, posing a significant threat to autonomous cars. Unlike traditional vehicles where a driver maintains full control, autonomous vehicles rely solely on machine intelligence and sensors. This shift in control heightens the vulnerability to cyber-attacks, making it crucial for automakers to prioritize security measures to safeguard these advanced vehicles.

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Segment Overview 

This near autonomous passenger car market report extensively covers market segmentation by 

Technology 1.1 ADAS level 11.2 ADAS level 2Geography 2.1 North America2.2 Europe2.3 APAC2.4 South America2.5 Middle East and Africa

1.1 ADAS level 1-  Advanced Driver-Assistance Systems (ADAS) are technological innovations that enhance driving and parking capabilities for vehicles. These systems promote safety by utilizing secure human-machine interaction and employing sensors, cameras, and automated technology to detect and respond to environmental impediments or driver errors. ADAS enables varying levels of autonomous driving, with level 1 allowing vehicles to steer, accelerate, and brake independently under most conditions. This technology is crucial for understanding other vehicles’ behavior and navigating roads safely, either independently or in conjunction with other vehicles. ADAS level 1 acts as a foundational technology for future autonomous vehicles, fueling the growth of the global near autonomous passenger car market during the forecast period.

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Research Analysis

The Near Autonomous Passenger Car Market refers to the rapidly evolving sector of self-driving cars, also known as autonomous or driverless vehicles. These advanced technologies utilize sensors, cameras, radar, LiDAR, GPS, and software algorithms to enable vehicles to navigate roads with minimal human intervention. V2V and V2I communication systems facilitate vehicle-to-vehicle and vehicle-to-infrastructure communication, enhancing safety and efficiency. Semiconductor chips and automated driving systems power these advanced features, while battery management systems ensure energy efficiency and the potential for emission-free vehicles. Self-driving technologies offer mobility and accessibility benefits, particularly for independent transport. However, safety concerns persist due to human error and the need for cyber security measures. Level 3 systems represent a significant step towards full autonomy, but technological challenges remain.

Market Research Overview

The Near Autonomous Passenger Car Market is a rapidly evolving sector, driven by advanced technologies such as sensors, cameras, radar, LiDAR, GPS, and software algorithms. These technologies enable vehicles to perceive their environment and make real-time driving decisions. Autonomous cars, also known as driverless or self-driving cars, use V2V and V2I communication to share data with other vehicles and infrastructure. Semiconductor chips and automated driving systems are essential components, while battery management systems ensure the efficiency and longevity of energy-efficient and emission-free vehicles, such as battery electric vehicles. Fossil fuel prices and automotive safety are significant factors influencing the market. Advanced safety technologies, including parking assistance systems, blind spot detection, and adaptive cruise control, are becoming standard features. Semi-autonomous and fully autonomous vehicles are transforming transportation, offering mobility services and independent transport. However, safety concerns, human error, cyber security threats, and technological challenges remain. Infrastructural developments and investment opportunities in autonomous vehicle technology and self-driving technologies are crucial for the market’s growth. Ride hailing services and deep neural networks are also playing a role in transportation efficiency. Despite these advancements, consumer acceptance and regulatory frameworks are essential for widespread adoption. The market for near autonomous passenger cars is poised for significant growth, offering numerous opportunities for innovation and progress.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

TechnologyADAS Level 1ADAS Level 2GeographyNorth AmericaEuropeAPACSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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Technology

Facial Recognition Market to Grow by USD 11.82 Billion (2024-2028), Rising Identity Threats Drive Growth, AI’s Impact on Market Trends – Technavio

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18 minutes ago

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November 14, 2024

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NEW YORK, Nov. 14, 2024 /PRNewswire/ — Report on how AI is redefining market landscape – The global facial recognition market size is estimated to grow by USD 11.82 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 22.2%  during the forecast period. Increasing instances of identity threats is driving market growth, with a trend towards technological advances and emergence of facial analytics. However, high cost of deployment  poses a challenge.Key market players include Amazon.com Inc., ASSA ABLOY AB, Aware Inc., Ayonix Pty Ltd., Cognitec Systems GmbH, Daon Inc., Facebanx, FaceFirst Inc., Fujitsu Ltd., IDEMIA France SAS, Ipsidy Inc., Luxand Inc., Microsoft Corp., NEC Corp., Precise Biometrics AB, Safran SA, Suprema Inc., Synaptics Inc., Thales Group, and Veridium IP Ltd..

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Facial Recognition Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 22.2%

Market growth 2024-2028

USD 11819.9 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

17.9

Regional analysis

North America, Europe, APAC, Middle East and Africa, and South America

Performing market contribution

North America at 37%

Key countries

US, China, UK, Germany, and Japan

Key companies profiled

Amazon.com Inc., ASSA ABLOY AB, Aware Inc., Ayonix Pty Ltd., Cognitec Systems GmbH, Daon Inc., Facebanx, FaceFirst Inc., Fujitsu Ltd., IDEMIA France SAS, Ipsidy Inc., Luxand Inc., Microsoft Corp., NEC Corp., Precise Biometrics AB, Safran SA, Suprema Inc., Synaptics Inc., Thales Group, and Veridium IP Ltd.

Market Driver

Facial recognition market is witnessing significant growth in various sectors including attendance tracking in educational institutions, patient identification in healthcare settings, and automating payment systems in retail. Operational efficiency is a key driver for organizations in education, healthcare, and retail sectors to adopt facial recognition technology. Security is another major factor, with surveillance systems being implemented in airports, critical infrastructure sectors, and public spaces to mitigate security threats and criminal activities. NEC, Microsoft, AWS, and other tech giants dominate the market with their KYC systems and digital wallets. Facial recognition is also used for authentication and security in mobile devices, mobile payments, app access, and identity verification. However, vulnerability to hacking, deep fakes, and cyber threats pose challenges to the market. Biases in facial recognition algorithms and privacy concerns are also areas of concern. The market includes companies like NEC Corporation, NtechLab, MorphoTrust, IDEMIA, Rekognition, FacePhi, Ayonix Corporation, Creditel, Salto Group, Cognitec Systems, and Secunet. Sectors like police enforcement, banking, law enforcement, forensic investigation, border control, access management, and consumer experiences are also impacted by this technology. Artificial intelligence, deep learning algorithms, computer vision, high-resolution cameras, and contactless authentication techniques are key technology trends. Data security, biases, and privacy are impacting factors. 

The facial recognition market is experiencing significant growth due to technological advancements. Vendors are integrating facial recognition technology into video surveillance systems, enabling easier and effective identification of intruders or attackers. This enhancement boosts security levels, addressing the increasing security concerns worldwide. Governments are increasing their spending on surveillance devices in response to heightened intruder threats. Vendors provide facial recognition capabilities as standalone or integrated software solutions with video surveillance systems. 

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 Market Challenges

•         Facial recognition technology is revolutionizing various sectors including attendance tracking in educational institutions, patient identification in healthcare settings, and automating payment systems in retail. Operational efficiency is a key driver for organizations in the education, healthcare, and retail sectors to adopt this technology. However, challenges persist. Security threats such as privacy concerns, illegal monitoring, and vulnerability to hacking are major issues. Sectors like law enforcement, banking, and border control rely on facial recognition for identification and verification. Technology leaders like NEC, Microsoft, AWS, and biometric experts such as NtechLab, MorphoTrust, IDEMIA, Rekognition, FacePhi, Ayonix Corporation, Creditel, Salto Group, and Cognitec Systems are at the forefront of this market. Biases, deep fakes, and cyber threats are also concerns. Facial recognition is used in physical security, public safety, and access control. It impacts consumer experiences through smartphone applications and contactless authentication techniques. Artificial intelligence, deep learning algorithms, and computer vision are essential for high-resolution cameras and 2D/3D facial analytics. Despite challenges, the future of facial recognition is promising, with applications in emotion recognition, security and surveillance, retail and e-commerce, media and entertainment, automobile and transportation, and IT and telecom.

•         Facial recognition technology offers significant benefits for security and identification in various industries, including government and transportation. However, the high cost of deployment is a major challenge. Large-scale implementation in departments and airports involves a lengthy sales cycle and significant investment. Costs extend beyond the facial recognition solution itself, with additional expenses for maintenance, middleware, and other associated costs. Budget constraints can result in substantial losses if implementation fails. Despite these challenges, the potential benefits of facial recognition make it a worthwhile investment for businesses seeking enhanced security and efficiency.

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Segment Overview 

This facial recognition market report extensively covers market segmentation by  

Application 1.1 Identification1.2 VerificationTechnology 2.1 3D2.2 2D2.3 Facial analyticsEnd-user 3.1 Media & entertainment3.2 BFSI3.3 Automobile & transportation3.4 OthersGeography 4.1 North America4.2 Europe4.3 APAC4.4 Middle East and Africa4.5 South America

1.1 Identification-  The facial recognition market for identification is experiencing significant growth due to its increasing adoption in sectors such as government and transportation. This technology enables the matching of an individual’s facial features with a database to retrieve their details, eliminating the need for human interaction. Its implementation in security purposes, particularly in public places and airports, is driving its growth. In the US, companies like Delta Airlines use facial recognition for passenger check-ins, and airports are adopting this technology for passenger identification. The integration of facial recognition with video surveillance systems is also supporting market growth. The security sector’s growing reliance on facial recognition is expected to boost the identification segment and the global market as a whole during the forecast period.

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Research Analysis

The Facial Recognition market is a rapidly growing sector of Biometrics technology, which uses Face recognition, Image recognition technology, and other Authentication techniques to identify and verify individuals based on their unique facial characteristics. This technology is increasingly being adopted across various sectors, including educational institutions for attendance tracking, healthcare settings for patient identification, and retail for automating payment systems. It offers operational efficiency for organizations by streamlining access control and surveillance. Sectors such as law enforcement and banking are also leveraging this technology for identification and security purposes. Facial recognition systems analyze facial characteristics, including the jawline, to create a unique identifier. Companies like NEC Corporation and NtechLab are leading innovators in this field, offering smart hospitality services and advanced recognition algorithms. Speech and Fingerprint recognition are other forms of Biometrics technology that complement Facial Recognition in the market.

Market Research Overview

Facial recognition technology is a biometric identification method that uses artificial intelligence and machine learning algorithms to identify and verify individuals based on their facial features. This technology is gaining popularity in various sectors including attendance tracking in educational institutions, patient identification in healthcare settings, automating payment systems in retail, operational efficiency in organizations, and security in public spaces. Facial recognition systems can be used for authentication, monitoring, and surveillance in airports, critical infrastructure sectors, and transportation hubs to ensure security and prevent criminal activities. However, privacy concerns have arisen due to the potential for illegal monitoring and vulnerability to hacking, deep fakes, and cyber threats. The technology can also be used for fraud prevention in digital wallets and smartphone applications, identity verification for app access and device unlocking, and access control in smart hospitality services. The use of facial recognition is expanding to sectors such as police enforcement, banking, law enforcement, forensic investigation, criminal identification, border control, and access management. Facial recognition technology is powered by artificial intelligence, deep learning algorithms, computer vision, and high-resolution cameras. It can be used for 3D and 2D facial analytics, emotion recognition, and security and surveillance. The technology is impacted by factors such as biases, technology advancements, and regulatory policies.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ApplicationIdentificationVerificationTechnology3D2DFacial AnalyticsEnd-userMedia & EntertainmentBFSIAutomobile & TransportationOthersGeographyNorth AmericaEuropeAPACMiddle East And AfricaSouth America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

View original content to download multimedia:https://www.prnewswire.com/news-releases/facial-recognition-market-to-grow-by-usd-11-82-billion-2024-2028-rising-identity-threats-drive-growth-ais-impact-on-market-trends—technavio-302305422.html

SOURCE Technavio

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Technology

Internet of Things (IoT) Market to Expand by USD 1.55 trillion (2024-2028), Advancements in IoT Platforms Drive Growth, Report with AI-Powered Market Evolution – Technavio

Published

18 minutes ago

on

November 14, 2024

By

NEW YORK, Nov. 14, 2024 /PRNewswire/ — Report on how AI is driving market transformation – The global internet of things (IOT) market size is estimated to grow by USD 1.55 trillion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of almost 18.52%  during the forecast period. Technological developments in different platforms is driving market growth, with a trend towards use of wearables to monitor human health and environment. However, lack of awareness of efficient management of iot initiatives and investments  poses a challenge.Key market players include Aeris Communications Inc., Alphabet Inc., Amazon.com Inc., AT and T Inc., Cisco Systems Inc., Fujitsu Ltd., General Electric Co., Hewlett Packard Enterprise Co., Honeywell International Inc., Intel Corp., International Business Machines Corp., Koninklijke Philips N.V., Microsoft Corp., Oracle Corp., PTC Inc., Robert Bosch GmbH, SAP SE, Siemens AG, Thales Group, and Wipro Ltd..

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Internet Of Things (Iot) Market Scope

Report Coverage

Details

Base year

2023

Historic period

2017 – 2021

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 18.52%

Market growth 2024-2028

USD 1554.5 billion

Market structure

Fragmented

YoY growth 2022-2023 (%)

15.18

Regional analysis

APAC, North America, Europe, Middle East and Africa, and South America

Performing market contribution

APAC at 37%

Key countries

US, China, Germany, Norway, and France

Key companies profiled

Aeris Communications Inc., Alphabet Inc., Amazon.com Inc., AT and T Inc., Cisco Systems Inc., Fujitsu Ltd., General Electric Co., Hewlett Packard Enterprise Co., Honeywell International Inc., Intel Corp., International Business Machines Corp., Koninklijke Philips N.V., Microsoft Corp., Oracle Corp., PTC Inc., Robert Bosch GmbH, SAP SE, Siemens AG, Thales Group, and Wipro Ltd.

Market Driver

The Internet of Things (IoT) market is experiencing significant growth, with trends like Generative AI and Blockchain leading the way. The World Economic Forum predicts that by 2025, IoT will contribute USD11 trillion to the global economy. Enterprises and service providers in sectors such as Manufacturing, Healthcare, Logistics chain, and E-commerce are embracing IoT technology for smart factory automation, real-time marketing analysis, and operational efficiency. IoT technology is revolutionizing industries, with companies like Taiwan Mobile, SPHCC, VivaLNK, and Canadian firms exploring new revenue-generating opportunities. SAS Software, VMware, and VMware Tanzu are key players in IoT software development. Connectivity, cloud adoption, and data processing are crucial for IoT success. Bluetooth technology, NB-IoT networks, and 5G technology are driving the future of IoT. Smart city initiatives, such as those in Smart Wellington, are transforming urban areas with IoT sensors and autonomous systems. Revenue forecasts indicate continued growth, with ROI a key consideration for businesses. Telecom and networking infrastructure providers, including 4G technology, are essential for IoT implementation. Consumer behavior and public safety services, such as firefighter and emergency medical services, are also benefiting from IoT technology. IoT technology is transforming sectors like Energy and Transportation, with smart utilities and smart transportation becoming the norm. RFID and sensors are enabling real-time monitoring and analysis, while AI and autonomous systems are streamlining processes and providing a competitive edge in digitalization. 

In today’s digital age, mobile devices such as smartphones and tablets have become the hub of connectivity and computing. Equipped with sensors like GPS, microphones, accelerometers, cameras, ambient light sensors, gyroscopes, and digital compasses, these devices offer advanced functionalities. These features are transforming various sectors such as social networking, environmental monitoring, healthcare, and transportation. Moreover, mobile devices come with WIFI, 3G/4G/5G, and Bluetooth connectivity. IoT wearables, an extension of these devices, enable consumers to monitor their health and allow doctors to remotely monitor patients. This integration of technology and mobility is revolutionizing our daily lives and economic sectors. 

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 Market Challenges

•  The IoT market is experiencing rapid growth, with enterprises and service providers in manufacturing, healthcare, logistics, and more embracing this technology. Challenges include integrating Generative AI and Blockchain, addressing Intelligent Disease and Smart City initiatives, and ensuring connectivity with 4G and 5G technology. IoT revenue forecasts are strong, driven by cloud adoption and data processing. Sensors, Bluetooth technology, and NB-IoT networks are key components. Companies like Taiwan Mobile, VivaLNK, and SPHCC are leading the way. SAS Software, VMware, and VMware Tanzu offer solutions. RoI is a major consideration, with operational efficiency and real-time marketing analysis driving value. Telecom and networking infrastructure providers, hardware vendors, and software vendors are essential partners. Canadian companies are also making strides in citizen services, public safety, and smart transportation. IoT presents significant revenue-generating opportunities and a competitive edge in digitalization.

•  The Industrial Internet of Things (IoT) market is experiencing significant growth as more enterprises integrate IoT into their industrial facilities. However, managing, securing, and optimizing these investments presents challenges. To fully leverage IoT’s capabilities, employee training is essential. The lack of skilled workers is a major hurdle for industries. Proper education on IoT platforms enables workers to adapt effectively and maximize system benefits. Investing in employee training is a crucial step towards successful IoT implementation.

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Segment Overview 

This internet of things (iot) market report extensively covers market segmentation by 

Application 1.1 Industrial1.2 Retail1.3 Healthcare1.4 ICT1.5 OthersTechnology 2.1 RFID2.2 Sensors2.3 NFC2.4 Cloud services2.5 OthersGeography 3.1 APAC3.2 North America3.3 Europe3.4 Middle East and Africa3.5 South America

1.1 Industrial-  The Industrial Internet of Things (IIoT) market is experiencing significant growth as businesses worldwide leverage this technology to enhance productivity and gain a competitive edge. Machines and devices are connected to the Internet through software, generating valuable data for predictive maintenance and performance optimization. However, challenges persist, including the need for increased investment, business model redesign, security concerns, lack of standardization, and interoperability issues. Favorable government policies and partnerships among industry players are crucial for addressing these challenges. The COVID-19 pandemic highlighted the importance of IIoT, particularly in the industrial sector. Manufacturing industries were significantly impacted, with many shutting down due to lockdowns. IIoT technology played a crucial role in enabling remote work and machine control, ensuring continuity of operations. The demand for IIoT solutions in the industrial sector has continued to grow post-pandemic, with vendors offering innovative solutions to drive market expansion during the forecast period.

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Research Analysis

The Internet of Things (IoT) market is experiencing exponential growth, driven by the integration of Generative AI and Blockchain technologies. According to the World Economic Forum, the global revenue for IoT is forecasted to reach USD1.1 trillion by 2026. In various sectors, IoT technology is revolutionizing industries such as Manufacturing, Healthcare, Logistics chain, and E-commerce. Intelligent Disease diagnosis and Smart Factory automation are two significant applications of IoT in Healthcare and Manufacturing, respectively. IoT is also transforming the way enterprises and service providers operate, enabling real-time data processing and connectivity through Bluetooth technology and Cloud adoption. Taiwan Mobile, SPHCC, VivaLNK, and others are leading the charge in IoT innovation. SAS Software, VMware, and VMware Tanzu are also making strides in IoT data processing and management. The integration of AI and IoT is expected to further accelerate growth in the market. The use of IoT in various sectors is revolutionizing business operations, improving efficiency, and creating new opportunities. The future of IoT is bright, with endless possibilities for innovation and growth.

Market Research Overview

The Internet of Things (IoT) market is experiencing exponential growth, driven by the integration of Generative AI and Blockchain technologies. The World Economic Forum estimates that by 2025, IoT will connect over 50 billion devices, revolutionizing industries from manufacturing to healthcare and logistics. IoT technology enables enterprises and service providers to optimize operational efficiency through smart factory automation, real-time marketing analysis, and autonomous systems. The energy and transportation sectors are major beneficiaries, with 5G technology and NB-IoT networks enabling smart utilities and smart transportation. Sensors and RFID technology are key components, providing connectivity and data processing capabilities. Cloud adoption and the use of IoT software are essential for managing and analyzing the vast amounts of data generated by these connected devices. IoT technology also offers revenue-generating opportunities for hardware, network, and software vendors, providing a competitive edge in digitalization. Smart city initiatives, such as those in Smart Wellington and Taiwan Mobile’s smart city projects, are transforming urban infrastructure, offering smart citizen services, public safety, and emergency medical services. IoT technology is also transforming consumer behavior, with e-commerce and physical events adopting IoT technology for improved connectivity and networking infrastructure. The IoT market is expected to reach significant revenue forecasts, with RoI being a major consideration for businesses adopting this technology. The use of AI, SAS Software, VMware, and VMware Tanzu is becoming increasingly common in IoT projects, enabling advanced data processing and analysis capabilities. Bluetooth technology and telecom infrastructure are also essential components of the IoT ecosystem. Overall, IoT technology is transforming industries and offering new opportunities for growth and innovation.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ApplicationIndustrialRetailHealthcareICTOthersTechnologyRFIDSensorsNFCCloud ServicesOthersGeographyAPACNorth AmericaEuropeMiddle East And AfricaSouth America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

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