Technology
SU Group Holdings Reports 11% Revenue Growth For Fiscal Year 2024
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3 days agoon
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8.7% Increase in Net Income Year over YearStrengthened Balance Sheet to Support Growth Initiatives
HONG KONG, Jan. 28, 2025 /PRNewswire/ — SU Group Holdings Limited (Nasdaq: SUGP) (“SU Group” or the “Company”), an integrated security-related engineering services company in Hong Kong, today announced financial results for the fiscal year ended September 30, 2024, led by strong growth in revenue and net income, as compared to the fiscal year ended September 30, 2023. All U.S. dollar figures cited in this press release are based on the exchange rate of HK$7.7733 against US$1.00 as of September 30, 2024.
Select Financial Highlights:
For the fiscal year ended September 30, 2024, SU Group reported an 11.3% increase in revenue on a year over year basis, led by growth in the security-related engineering services business, which increased 9.0% on a year over year basis.Net income increased by 8.7% on a year over year basis to HK$10.7 million (US$1.4 million) for the fiscal year ended September 30, 2024, with net income per share (basic and diluted) increasing to HK$0.82 from HK$0.81 on a year over year basis.
SU Group’s Chairman and CEO, Dave Chan, commented, “We are driving consistent revenue growth and business expansion as we build on our strong competitive position. Our successful initial public offering on the Nasdaq market helped fortify our balance sheet and is allowing us to accelerate strategic investments that will ensure our long-term success, including hiring additional security experts and investing in advanced security technologies like our proven AI-aided security solutions. Our specialized focus and ability to closely support customers can be seen in several landmark wins we have announced, including our support of one Asia’s largest airlines and one of Hong Kong’s leading higher education institutions. These customers serve as high-profile references, showcasing our efficiency, reliability, and versatility. Overall, we are pleased with our progress but believe we are still in the very early stages of what we can achieve as we continue to execute on our business and build long-term value for shareholders.”
SU Group’s Chief Financial Officer, Calvin Kong, noted, “We drove a near 9% increase in net income for the fiscal year 2024, reflecting our strong revenue growth and execution on operational efficiency. We remain diligent in our operating expense management, focused on expanding cash flow and committed to investing in support of our customers. We have established a solid foundation for accelerated growth, with the financial strength to scale our business in both Hong Kong and previously untapped geographic markets as we look to build on our momentum and leadership position moving forward.”
SU Group Holdings Limited (Nasdaq: SUGP) provides security-related engineering services and security guarding and screening services:
Security-related engineering services: The Company offers security-related engineering services to customers, including providing (i) security systems and products, provision of installation, and related maintenance services; (ii) security systems and products only; or (iii) maintenance services only. In addition, SU Group provides equipment rental services to its customers with use of dedicated security-related systems and equipment for contractual periods.Security guarding and screening services: The Company provides security guarding services, by dispatching security guards with corresponding abilities and qualifications on demand, to fulfill the customers’ needs such as securing and guarding physical properties by, among other things, conducting patrols, entrance guarding, access control and alarm monitoring and response such as fire and gas detection, burglary detection and emergency management such as first aid service and communication and evacuation. SU Group also offers security guarding services targeted at crowd coordination and management, and provides security screening services, where its certified screeners work to detect of explosives, incendiary devices in air cargo consignment and dangerous goods for safety purpose through the operation of threat detection systems. In addition, the Company provides a variety of related vocational training courses.
Financial Results for the Fiscal Year Ended September 30, 2024
Revenues increased by 11.3% to HK$182.2 million (US$23.4 million) for the fiscal year ended September 30, 2024 from HK$163.7 million (US$21.0 million) for the fiscal year ended September 30, 2023, primarily due to an increase in revenues from the security-related engineering services business. Revenues from the provision of security-related engineering services increased by 9.0% to HK$107.0 million (US$13.8 million) for the fiscal year ended September 30, 2024 from HK$98.1 million (US$12.5 million) for the fiscal year ended September 30, 2023.
Cost of revenues increased by 16.4% to HK$134.6 million (US$17.3 million) for the fiscal year ended September 30, 2024 from HK$115.6 million (US$14.9 million) for the fiscal year ended September 30, 2023. The increase was in line with the business growth of security-related engineering services and security guarding and screening, as the Company continues to focus on providing a comprehensive portfolio of security products and solutions, along with experienced, tenured employees.
Gross profit decreased slightly by 0.9% to HK$47.6 million (US$6.1 million) for the fiscal year ended September 30, 2024 from HK$48.0 million (US$6.2 million) for the fiscal year ended September 30, 2023, primarily due to the net impact of a decrease in the gross profit margin of security-related engineering services triggered by certain projects completed during the fiscal year ended September 30, 2024, combined with a lower gross profit margin of security guarding services contracts resulting from an increasing labor cost.
Gross profit margin was 26.1% for the fiscal year ended September 30, 2024 compared to 29.3% in the fiscal year ended September 30, 2023. Gross profit margin of project and maintenance income under security-related engineering services decreased to 32.1% for the fiscal year ended September 30, 2024 from 36.4% for the fiscal year ended September 30, 2023. Gross profit margin of equipment leasing income under security-related engineering services decreased to 64.6% for the fiscal year ended September 30, 2024 from 73.9% for the fiscal year ended September 30, 2023. Gross profit margin of security guarding and screening services maintained at a stable level, which was 15.1% for the fiscal year ended September 30, 2024, and 15.2% for the fiscal year ended September 30, 2023.
Selling, general and administrative expenses decreased by 2.1% to HK$36.0 million (US$4.6 million) for the fiscal year ended September 30, 2024, from HK$36.8 million (US$4.7 million) for the fiscal year ended September 30, 2023. The Company achieved the decrease from a reversal of provision for credit loss, while offsetting higher legal and professional fees associated with its initial public offering and being a public company, while also increasing promotional activities and campaigns to penetrate the market.
Losses on the disposal of property and equipment were HK$0.6 million (US$0.1 million) for the fiscal year ended September 30, 2024, compared to HK$0.5 million (US$0.1 million) for the fiscal year ended September 30, 2023.
Our other income decreased by 15.6% to HK$1.2 million (US$0.2 million) for the fiscal year ended September 30, 2024, from HK$1.4 million (US$0.2 million) for the fiscal year ended September 30, 2023. The decrease was mainly due to the decrease in government grants received in relation to COVID-19 to nil for the fiscal year ended September 30, 2024, from HK$0.4 million (US$0.6 million) for the fiscal year ended September 30, 2023.
Income tax expenses decreased by 44.1% to HK$1.3 million (US$0.2 million) for the fiscal year ended September 30, 2024, from HK$2.3 million (US$0.3 million) for the fiscal year ended September 30, 2023. The decrease was mainly due to decrease in income before income tax.
Net income increased by 8.7% to HK$10.7 million (US$1.4 million) for the fiscal year ended September 30, 2024, from HK$9.8 million (US$1.3 million) for the fiscal year ended September 30, 2023, with a net income margin of 6.0% for the fiscal year ended September 30, 2023 and 5.9% for the fiscal year ended September 30, 2024.
Trade receivables, net decreased by 37.5%, to HK$21.9 million (US$2.8 million) as of September 30, 2024, from HK$35.0 million (US$4.5 million) as of September 30, 2023. The decrease of trade receivables was mainly attributable to a general reduction in gross amount of receivables triggered by improving credit collection activities during the fiscal year ended September 30, 2024.
Trade payables decreased by 46.4%, to HK$8.6 million (US$1.1 million) as of September 30, 2024, from HK$16.1 million (US$2.1 million) as of September 30, 2023. The decrease was due to more timely settlement of costs of revenues supported by operating cash inflow.
Inventories increased by 16.4% to HK$47.6 million (US$6.1 million) as of September 30, 2024, from HK$40.9 million (US$5.3 million) as of September 30, 2023. The increase of inventories was mainly due to an increase in work-in-progress since there are more ongoing projects and thus more project costs being incurred and transferred to work-in-progress. The increase is consistent with our business growth and the increase in revenues.
Capital expenditures were HK$3.2 million (US$0.4 million) the fiscal year ended September 30, 2024, compared to HK$1.4 million (US$0.2 million) for the fiscal year ended September 30, 2023, with the increase primarily related to the acquisition of equipment and computer software to meet expected business growth.
For the fiscal year ended September 30, 2024, net cash provided by operating activities was HK$14.1 million (US$1.8 million) with net cash provided by financing activities of HK$25.2 million (US$3.2 million), compared to net cash used in operating activities of HK$13.5 million (US$1.7 million) and net cash used in financing activities of HK$4.8 million (US$0.6 million) for the fiscal year ended September 30, 2023.
The Company had a balance of cash and cash equivalents of HK$52.3 million (US$6.7 million) with working capital of approximately HK$82.1 million (US$10.6 million), as of September 30, 2024.
About SU Group Holdings Limited
SU Group (Nasdaq: SUGP) is an integrated security-related services company that primarily provides security-related engineering services, security guarding and screening services, and related vocational training services in Hong Kong. Through its subsidiaries, SU Group has been providing turnkey services to the existing infrastructure or planned development of its customers through the design, supply, installation, and maintenance of security systems for over two decades. The security systems that SU Group provides services include threat detection systems, traffic and pedestrian control systems, and extra-low voltage systems in private and public sectors, including commercial properties, public facilities, and residential properties in Hong Kong. For more information visit www.sugroup.com.hk.
Forward-Looking Statements
Certain statements in this press release are forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as “anticipate,” “estimate,” “plan,” “project,” “continuing,” “ongoing,” “expect,” “we believe,” “we intend,” “may,” “should,” “will,” “could” and similar expressions. These statements are subject to uncertainties and risks including, but not limited to, the following: the Company’s ability to renew contracts with recurring customers; the Company’s ability to secure new contracts; the Company’s ability to accurately estimate risks and costs and perform contracts based on the Company’s estimates; the Company’s relationship with the Company’s suppliers and ability to manage quality issues of the systems; the Company’s ability to obtain or renew the Company’s registrations, licenses, and certificates; the Company’s ability to manage the Company’s subcontractors; the labor costs and the general condition of the labor market; the Company’s ability to compete effectively; the Company’s ability to successfully manage the Company’s capacity expansion and allocation in response to changing industry and market conditions; implementation of the Company’s expansion plans and the Company’s ability to obtain capital resources for planned growth; the Company’s ability to acquire sufficient products and obtain equipment and services from the Company’s suppliers in suitable quantity and quality; the Company’s dependence on key personnel; the Company’s ability to expand into new businesses, industries, or internationally and to undertake mergers, acquisitions, investments, or divestments; changes in technology and competing products; general economic and political conditions, including those related to the security-related engineering services industry; possible disruptions in commercial activities caused by events such as natural disasters, terrorist activities, political, economic, and social instability, and fluctuations in foreign currency exchange rates, and assumptions underlying or related to any of the foregoing and other risks contained in reports filed by the Company with the Securities and Exchange Commission (the “SEC”), including the Company’s most recently filed Annual Report on Form 20-F and its subsequent filings. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s registration statement and other filings with the SEC.
(Financial Tables Follow)
SU GROUP HOLDINGS LIMITED
CONSOLIDATED STATEMENTS OF INCOME
(Dollars in thousands, except per share data)
For the Years Ended September 30,
2023
2024
2024
HK$
HK$
US$
Revenues
163,690,966
182,164,539
23,434,647
Cost of revenues
(115,648,013)
(134,568,099)
(17,311,579)
Gross profit
48,042,953
47,596,440
6,123,068
Operating expenses
Selling, general and administrative expenses
(36,805,428)
(36,028,548)
(4,634,910)
Losses on disposal of property and equipment
(485,957)
(636,289)
(81,856)
Income from operations
10,751,568
10,931,603
1,406,302
Other income (expenses)
Other income
1,445,506
1,219,376
156,867
Finance expenses
(55,080)
(189,749)
(24,410)
Other expenses
—
—
—
Total other income, net
1,390,426
1,029,627
132,457
Income before income tax expenses
12,141,994
11,961,230
1,538,759
Income tax expenses
(2,338,850)
(1,307,742)
(168,235)
Net income
9,803,144
10,653,488
1,370,524
Less: Net income attributable to non-controlling interests
(105,775)
—
—
Net income attributable to SU Group Holdings Limited’s ordinary shareholders
9,697,369
10,653,488
1,370,524
Net income per share
Basic and diluted
0.81
0.82
0.11
Weighted average number of shares
Basic and diluted
12,000,000
13,027,752
13,027,752
SU GROUP HOLDINGS LIMITED
CONSOLIDATED BALANCE SHEETS
As of September 30,
2023
2024
2024
HK$
HK$
US$
Assets
Current assets
Cash and cash equivalents
16,400,123
52,338,132
6,733,065
Trade receivables, net
34,978,153
21,851,480
2,811,094
Inventories
40,919,214
47,613,381
6,125,247
Prepaid expenses and other current assets
1,590,259
5,013,876
645,011
Contract assets, net
3,187,403
6,443,947
828,985
Prepaid income tax
—
2,066,219
265,810
Total current assets
97,075,152
135,327,035
17,409,212
Non-current assets
Property and equipment, net
8,405,563
8,886,235
1,143,174
Intangible assets, net
144,879
268,500
34,541
Goodwill
1,271,160
1,271,160
163,529
Prepaid expenses and other non-current assets
—
4,462,823
574,122
Deferred offering expenses
3,853,500
—
—
Operating lease right-of-use assets, net
1,113,926
5,496,985
707,162
Investment in key management insurance policy
1,157,520
1,157,520
148,910
Deferred tax assets
1,418,419
207,702
26,720
Total non-current assets
17,364,967
21,750,925
2,798,158
TOTAL ASSETS
114,440,119
157,077,960
20,207,370
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities
Trade payables
16,104,581
8,625,685
1,109,655
Notes payables
3,503,768
2,355,023
302,963
Other payables
2,633,447
3,499,507
450,196
Accrued payroll and welfare
8,228,964
9,040,942
1,163,076
Operating lease liabilities – current
204,156
1,935,187
248,953
Income tax payable
1,058,040
—
—
Contract liabilities
22,748,443
27,801,257
3,576,506
Total current liabilities
54,481,399
53,257,601
6,851,349
Non-current liabilities
Operating lease liabilities – non-current
61,229
3,004,974
386,576
Other payables – non-current
996,069
1,340,016
172,387
Deferred tax liabilities
1,468,575
431,717
55,538
Other liabilities
1,008,306
1,321,956
170,064
Total non-current liabilities
3,534,179
6,098,663
784,565
Total liabilities
58,015,578
59,356,264
7,635,914
Commitments and contingencies
Shareholders’ Equity
Ordinary shares (par value of HK$0.01 per share; 750,000,000 ordinary shares authorized and 12,000,000 and 13,647,500 ordinary shares issued and outstanding as of September 30, 2023 and 2024, respectively.)
120,000
136,475
17,557
Shares subscription receivables
(119,990)
(90)
(12)
Additional paid-in capital
14,642,029
46,260,499
5,951,205
Retained earnings
41,782,502
51,324,812
6,602,706
Total SU Group Holdings Limited shareholders’ equity and total shareholders’ equity
56,424,541
97,721,696
12,571,456
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY
114,440,119
157,077,960
20,207,370
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SOURCE SU Group Holdings Limited
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Fire Protection System Market to Grow by USD 14.58 Billion (2024-2028), Boosted by IoT & Big Data Integration with Smoke Detectors, with AI Driving Market Transformation – Technavio
Published
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January 31, 2025By
NEW YORK, Jan. 31, 2025 /PRNewswire/ — Report with the AI impact on market trends – The global fire protection system market size is estimated to grow by USD 14.58 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 6.78% during the forecast period. Integration of smoke detectors with iot and big data is driving market growth, with a trend towards growth in adoption of wireless technology in fire detection systems. However, high installation and maintenance cost of fire protection systems poses a challenge. Key market players include ABB Ltd., API Group Corp., Carrier Global Corp., Eaton Corp. Plc, Encore Fire Protection, Fire Suppression Ltd., Fireline Corp., Firetrol Protection Systems Inc., Gentex Corp., Halma Plc, Hochiki America Corp., Honeywell International Inc., Johnson Controls International Plc., Minimax GmbH, Napco Security Technologies Inc., RTX Corp., Robert Bosch GmbH, Securitas AB, Securiton AG, and Siemens AG.
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Fire Protection System Market Scope
Report Coverage
Details
Base year
2023
Historic period
2018 – 2022
Forecast period
2024-2028
Growth momentum & CAGR
Accelerate at a CAGR of 6.78%
Market growth 2024-2028
USD 14582 million
Market structure
Fragmented
YoY growth 2022-2023 (%)
6.23
Regional analysis
North America, APAC, Europe, Middle East and Africa, and South America
Performing market contribution
APAC at 41%
Key countries
US, China, UK, Germany, and Japan
Key companies profiled
ABB Ltd., API Group Corp., Carrier Global Corp., Eaton Corp. Plc, Encore Fire Protection, Fire Suppression Ltd., Fireline Corp., Firetrol Protection Systems Inc., Gentex Corp., Halma Plc, Hochiki America Corp., Honeywell International Inc., Johnson Controls International Plc., Minimax GmbH, Napco Security Technologies Inc., RTX Corp., Robert Bosch GmbH, Securitas AB, Securiton AG, and Siemens AG
Market Driver
The Fire Protection System market is experiencing significant growth due to increasing safety concerns and regulatory requirements. Federal custodians and building owners are prioritizing fire safety in residential and commercial buildings. The labor program and policies and regulations are driving the retrofit infrastructure of existing buildings with advanced technologies such as fire detection devices, sprinkler systems, and fire extinguishers. Construction equipment and facility management companies are integrating building automation and response teams with fire control communicators and sprinkler supervisory systems. Advanced technologies like fire analysis, mapping, and real-time information are becoming essential for risk management and safety concerns. Companies like BakerRisk are providing fire analysis services using Fire Safety Order and responsible persons (RPs) to ensure compliance with building codes. Economic advancements and construction activities are leading to the adoption of fire safety norms in various sectors, including hospitals, educational institutions, and oil & gas. Fire protection system providers offer managed services, including fire detection systems, suppression systems, maintenance services, and energy efficiency solutions. Fire hose reels, hydrant systems, and automatic sprinkler systems are essential components of fire safety procedures. Fire codes and safety systems are being updated regularly, requiring installers to stay informed of regulatory updates. Advanced technologies like RFID systems, smoke detectors, heat detectors, and flame detectors are being integrated into fire protection systems to improve fire safety procedures. Wet-pipe, dry-pipe, pre-action, and deluge fire sprinklers are essential for effective fire suppression. Wireless alarm systems and water mist technology are also gaining popularity due to their efficiency and reliability.
Wireless fire detection and alarm systems are essential solutions for modern enclosed structures such as offices, hotels, monuments, halls, and warehouses. These systems do not require traditional cabling, making installation simple and quick. The system comprises a radio gateway, radio fire detectors, and radio manual call points. A dual-band system with frequencies of 433 MHz and 868 MHz, and multiple channels, ensures stable communication between devices. The absence of wires maintains the building’s interior integrity and enhances aesthetics.
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Market Challenges
The Fire Protection System market faces various challenges in the real estate sector. Federal custodians and tenants require compliance with labor programs, policies, and regulations. Retrofitting infrastructure with advanced technologies and materials, such as fire detection devices and suppression systems, can be costly and complex. Construction activities and building automation also pose challenges, as does ensuring the availability of response teams and fire control communicators. Technology and materials, including fire sprinkler systems, fire extinguishers, and fire alarm equipment, must meet stringent building codes. Executive leadership and risk management prioritize safety concerns, with Royal Assent and Fire Safety Orders driving regulatory updates. Responsible persons (RPs) in residential buildings must oversee fire safety procedures, while installers navigate supply chain disruptions and regulatory compliance. Fire analysis, including fire mapping and real-time information, is essential for effective fire safety systems. Advanced technologies like wireless sensor networks and fire suppression systems offer energy efficiency and improved response times. Fire Protection Systems encompass fire hose reels, hydrant systems, and automatic sprinkler systems, among other solutions. Energy efficiency, fire safety norms, and economic advancements continue to shape the market. Key sectors, such as hospitals, educational institutions, oil & gas, and manufacturing, prioritize fire safety procedures and systems. Fire codes and safety systems continue to evolve, with managed services and energy and power solutions playing crucial roles. Fire detection systems, including smoke detectors, heat detectors, RFID systems, and flame detectors, are essential components of comprehensive fire protection strategies. Wet-pipe, dry-pipe, pre-action, and deluge fire sprinklers, along with fire alarm systems, ensure safety in various applications. Fire sprinkler contractors and maintenance services offer expertise in designing, installing, and maintaining these systems. Fire safety systems, including smoke management and ventilation systems, are critical for minimizing damage and ensuring occupant safety. In conclusion, the Fire Protection System market faces numerous challenges, including regulatory compliance, technology integration, and cost management. However, advancements in fire detection, suppression, and analysis technologies, along with the evolving regulatory landscape, provide opportunities for growth and innovation. By prioritizing safety, efficiency, and regulatory compliance, stakeholders can create effective and sustainable fire protection solutions for various industries and applications.Fire protection systems involve significant upfront investments due to the need for various components such as alarms, smoke detectors, and fire suppression systems. The cost is further increased by the labor expenses for installation, which are high due to the intricacy of networks and the need for advanced tools. Vendors continually upgrade their solutions and innovate new technologies, driving up the cost for buyers in the residential, commercial, and government sectors.
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Segment Overview
This fire protection system market report extensively covers market segmentation by
Product 1.1 Fire detection1.2 Fire suppression1.3 Fire response1.4 Fire analysisApplication 2.1 Commercial2.2 Industrial2.3 ResidentialGeography 3.1 North America3.2 APAC3.3 Europe3.4 Middle East and Africa3.5 South America
1.1 Fire detection- The fire detection product segment dominates the global fire protection system market due to its essential role in early fire detection and warning. A fire detection system includes components like smoke detectors, alarms, water sprinklers, and fire suppression systems. These devices collaborate to identify and alert individuals through audio and visual equipment, such as speakers and alarms, during smoke, carbon monoxide, or fire incidents. Regulatory bodies, such as the National Fire Protection Association (NFPA) and the Building Code of Australia, mandate the installation of fire detection systems in various public places, including malls, hospitals, stadiums, and other public gatherings. This regulatory compliance and safety concern will boost the demand for fire detection systems and the overall fire protection system market.
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Research Analysis
The Fire Protection System Market encompasses a range of technologies and services designed to prevent, detect, and suppress fires in various structures. Key components include fire alarm systems, fire suppression systems, fire hose reels, fire hydrant systems, automatic sprinkler systems, smoke management systems, ventilation systems, and stairwell-pressurization systems. These systems are essential in various sectors, including hospitals, educational institutions, and commercial buildings. Policies and regulations, such as labor programs and fire safety procedures, play a crucial role in driving market growth. Retrofitting infrastructure with advanced fire protection systems is a significant trend, as is the integration of wireless sensor networks for early detection and real-time monitoring. Supply chain disruptions can impact market growth, while energy efficiency is a key consideration for many fire protection solutions. Fire sprinkler contractors are an essential part of the value chain, ensuring proper installation and maintenance of fire protection systems.
Market Research Overview
The Fire Protection System market encompasses a range of technologies and services designed to prevent, detect, and suppress fires in various structures. This includes federal custodians and tenants implementing policies and regulations to ensure fire safety. Retrofitting infrastructure with advanced technologies such as fire detection devices, sprinkler systems, and suppression systems is crucial for existing buildings. Construction equipment and facility management play key roles in installing and maintaining these systems during new building projects. Building automation and response teams are essential for effective fire control communication. Advanced technologies like fire analysis segment, mapping, real-time information, and wireless sensor networks contribute to improved fire safety. Companies specializing in fire safety norms, fire codes, and executive leadership provide essential guidance. Responsible persons (RPs) overseeing residential buildings, hospitals, educational institutions, and other structures implement fire safety procedures and ensure adherence to regulations. Fire safety norms, economic advancements, and construction activities drive the demand for fire protection systems. Key components include water supply, water delivery, and distribution systems, as well as retrofitting, fire alarms, and suppression systems. Energy efficiency, smoke management, and ventilation systems are also critical elements. Fire protection contractors offer managed services, while energy and power sectors, oil & gas industries, and wireless alarm systems further expand the market.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
ProductFire DetectionFire SuppressionFire ResponseFire AnalysisApplicationCommercialIndustrialResidentialGeographyNorth AmericaAPACEuropeMiddle 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.
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Tokyo Unicorn Summit 2025: Uniting Asia’s Leading Startup Visionaries for Cross-Border Innovation
Published
4 hours agoon
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TOKYO, Jan. 31, 2025 /PRNewswire/ — Tokyo-based global media agency Pacific Bridge Media and Consulting Inc. (PBMC) is pleased to announce that the inaugural Tokyo Unicorn Summit will be held on May 7th, 2025 at Azabudai Hills in Tokyo, bringing together approximately 100 unicorn and soon-to-be-unicorn companies from across Asia. This exclusive, invitation-only event will feature networking opportunities, private sessions, and Asia’s top leaders as guest speakers.
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In a world increasingly fragmented by conflict and discord, the need for collaboration and unity has never been greater. The Tokyo Unicorn Summit seeks to transcend borders and bring together Asia’s most influential innovators and visionaries. This unprecedented event is a dynamic platform where diverse ideas converge, exploring ways for top decision-makers in the startup ecosystems across Asia to collaborate and together solve social and environmental issues throughout the region.
The Tokyo Unicorn Summit aims to serve as a catalyst for Asia’s top entrepreneurs to unite and make the region the world’s innovation hub for the next generation. By uniting visionary entrepreneurs, we aim to bridge divides, spark collaboration, and address today’s challenges while unlocking tomorrow’s opportunities.
[Event Overview]
https://tokyounicornsummit.peatix.com/view
Date: Wednesday, May 7, 2025
Time: 12:00-21:00 JST (Tentative; Subject to change)
Venue: Azabudai Hills (Tokyo)
Language: English
Organizer: Tokyo Unicorn Summit 2025 Committee
Co-Hosts: The Chosun Ilbo, J-Stories/Pacific Bridge Media & Consulting (PBMC), Korea Startup Forum
Partners and Supporters: SusHI Tech Tokyo, Startup Island TAIWAN and more
Participating Startups:
CxOs of
UnicornsRecently IPO’ed unicornsSeries B to pre-IPO
from Korea, Taiwan region, Japan, and other Asian countries
Financial-sector Participants:
Investment banksCross-border VCs / CVCsM&A specialists
For Inquiries Regarding This Matter
Pacific Bridge Media & Consulting Inc.
Email: jstories@pacificbridge.jp / info@pacificbridge.jp
Phone: +81-50-5527-0955
Tokyo office of The Chosun ilbo
Email: tokyo_office@chosun.com
Phone: +81-3-3214-5256
About J-Stories
J-Stories is a solutions-focused media platform dedicated to introducing Japan-origin innovations that address global challenges such as environmental issues and food shortages. Since its launch in April 2022, J-Stories has published over 500 articles and has been widely disseminating innovations and ideas from Japanese startups, NGOs, and university research institutions through articles and videos.
J-Stories Website:
(English) https://jstories.media
(Japanese) https://jstories.media/jp
Pacific Bridge Media and Consulting, Inc. (PBMC)
Founded in 2010 by experienced international journalist Toshi Maeda with the mission to “connect the world with trusted content and realize a rich and equitable human society,” PBMC specializes in creating diverse multilingual content that combines video, language, and technology. The company provides comprehensive services for enterprises looking to share information globally, including planning and producing articles, visual content such as videos and photos, CGI, website creation, and multilingual live event broadcasting. PBMC has a strong track record working with a wide range of clients—from major domestic and international corporations and media to startups and government agencies—establishing itself as a highly regarded international multimedia content provider.
Company Overview
Pacific Bridge Media and Consulting, Inc.
Main Fields of Business: Multilingual content strategy-building, production and distribution; Cross-border public, media and investor relations, Multilingual event planning, hosting and technical & editorial support; live-streaming and news/event conference support, News and media release production and distribution worldwide; Startup & corporate media platform management and content productionHeadquarters: 22nd Floor, Shiroyama Trust Tower, 4-3-1 Toranomon, Minato-ku, TokyoCEO: Toshi MaedaFounded: June 30, 2010URL: https://pacificbridge.jp
CONTACT:
PACIFIC BRIDGE MEDIA AND CONSULTING
Editorial department: Toshi Maeda (Executive Editor)・Takanori Isshiki (Deputy Executive Editor)・Anita De Michele (Editorial Coordinator)
email: info@pacificbridge.jp
phone: +81- 50-5527-0955
View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/tokyo-unicorn-summit-2025-uniting-asias-leading-startup-visionaries-for-cross-border-innovation-302365128.html
SOURCE PACIFIC BRIDGE MEDIA AND CONSULTING
Technology
Managed Services Market to Grow by USD 217 Billion (2025-2029), Boosted by Increased Adoption of IoT Solutions, with AI Redefining the Market Landscape – Technavio
Published
4 hours agoon
January 31, 2025By
NEW YORK, Jan. 31, 2025 /PRNewswire/ — Report with market evolution powered by AI – The global managed services market size is estimated to grow by USD 217 billion from 2025-2029, according to Technavio. The market is estimated to grow at a CAGR of 11.3% during the forecast period. Increased adoption of IoT solutions is driving market growth, with a trend towards advent of big data and analytics services. However, data privacy and security risks in cloud-based services poses a challenge. Key market players include Accenture PLC, ALE International, Amazon.com Inc., Atos SE, BMC Software Inc., Capgemini Services SAS, Cisco Systems Inc., Cloudticity LLC, Cognizant Technology Solutions Corp., DXC Technology Co., Fujitsu Ltd., Google LLC, HCL Technologies Ltd., Hewlett Packard Enterprise Co., Huawei Technologies Co. Ltd., Infosys Ltd., International Business Machines Corp., Lumen Technologies Inc., NEC Corp., NTT DATA Corp., Telefonaktiebolaget LM Ericsson, and Verizon Communications Inc..
Key insights into market evolution with AI-powered analysis. Explore trends, segmentation, and growth drivers- View Free Sample PDF
Managed Services Market Scope
Report Coverage
Details
Base year
2024
Historic period
2019 – 2023
Forecast period
2025-2029
Growth momentum & CAGR
Accelerate at a CAGR of 11.3%
Market growth 2025-2029
USD 217 billion
Market structure
Fragmented
YoY growth 2022-2023 (%)
10.6
Regional analysis
North America, Europe, APAC, South America, and Middle East and Africa
Performing market contribution
North America at 37%
Key countries
US, China, India, Canada, Germany, Japan, UK, South Korea, France, and Italy
Key companies profiled
Accenture PLC, ALE International, Amazon.com Inc., Atos SE, BMC Software Inc., Capgemini Services SAS, Cisco Systems Inc., Cloudticity LLC, Cognizant Technology Solutions Corp., DXC Technology Co., Fujitsu Ltd., Google LLC, HCL Technologies Ltd., Hewlett Packard Enterprise Co., Huawei Technologies Co. Ltd., Infosys Ltd., International Business Machines Corp., Lumen Technologies Inc., NEC Corp., NTT DATA Corp., Telefonaktiebolaget LM Ericsson, and Verizon Communications Inc.
Market Driver
Managed Services Market: Trends and Opportunities The Managed Services Market is experiencing significant growth, driven by various trends in technology. Cloud computing is a major trend, with businesses increasingly adopting cloud-based technologies for operational efficiency and cost savings. Cybersecurity is another key trend, as businesses seek to protect their data and IT infrastructure from cyber threats. Data management is also a significant trend, with the rise of big data and the need for businesses to effectively manage and analyze their data. Artificial intelligence (AI) and automation are also popular trends, as they help businesses improve productivity and reduce costs. MSPs (Managed Service Providers) are in high demand, offering services such as network and communication collaboration, mobility, information, application testing, and cloud platform management. The Internet of Things (IoT) is also driving growth in the market, with the need for endpoint management solutions and managed network services. Industries such as retail & consumer goods, healthcare & life sciences, energy & utilities, media & entertainment, and IT services are all investing in managed services to support their digital transformation. IT security professionals are in high demand to help businesses protect their data and IT infrastructure from cyber threats. Cloud-based solutions, such as Software-as-a-Service (SaaS), are becoming increasingly popular, as they offer flexibility and scalability. Hybrid work models are also driving demand for managed services, as businesses look for ways to support their remote workforces. The market for managed services is expected to continue growing, with a focus on industry requirements and consumer needs. IoT technologies, such as robotics and optical instruments, are also expected to drive growth in the market. However, businesses must also be aware of the privacy protection challenges associated with managed services and ensure they are working with trusted providers. Aeries Technology offers a range of managed services, including network infrastructure management, server & device management, computer & helpdesk support, and managed security services. Our team of skilled resources can help businesses improve their operational efficiency, protect their data, and meet their industry requirements. Contact US today to learn more.
Firms are leveraging analytics services to convert unstructured data from multiple online sources into valuable structured information. Advanced analytical tools like predictive analytics are used to identify patterns in business and consumer behavior. Industries such as finance, telecommunications, and healthcare have benefited from these insights to make informed decisions at the organizational level, enhancing customer service. With the proliferation of data centers and technology, businesses are recognizing the importance of analyzing and utilizing data promptly to gain a competitive edge in cost and time.
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Market Challenges
Managed Services Market: Overcoming Challenges in Cloud Computing, Cybersecurity, and More Businesses today face numerous challenges in their IT operations, from cloud computing and cybersecurity to data management and digital transformation. Managed Service Providers (MSPs) offer solutions to help companies navigate these complexities. In the cloud era, MSPs provide managed IT services, network services, communication collaboration services, mobility services, information services, application testing, and cloud platform management. Retail & consumer goods, healthcare & life science, energy & utilities, media & entertainment, and other industries require IT security professionals to ensure data security and privacy protection. MSPs help businesses implement cloud-based technologies like AI, IoT, Blockchain, and SaaS, addressing industry requirements and consumer needs. They offer managed network services, managed data center services, managed security services, endpoint management solutions, project & portfolio management, and agile approaches. However, challenges persist. Cyber threats targeting cloud-based solutions and IoT devices require constant monitoring and AIOps analytics. Large enterprises need front-end monitoring, ADTD, and DevOps teams to maintain operational efficiency. Hybrid work models demand skilled resources for IT operations, network infrastructure, server & device management, and computer & helpdesk support. Aeries Technology, specializing in managed services, helps businesses tackle these challenges by providing a comprehensive suite of services, ensuring business productivity, application testing, and IT operations. With expertise in AI, ML, IT security, and IT infrastructure, Aeries Technology is your trusted partner for digital transformation.Cloud-based managed services have gained popularity among businesses due to their cost-effectiveness and flexibility. However, data privacy and security concerns are significant barriers to adoption, particularly in the public cloud. Cloud security management is a complex task for vendors, as online digital files require protection against unauthorized access to the cloud-based IT infrastructure. The public cloud infrastructure, which supports multiple tenants and applications, is more susceptible to vulnerabilities due to the intricacies of open-source code used in its construction. These code patchworks can introduce flaws to cloud systems, increasing the risk of cyberattacks. Organizations must carefully evaluate cloud security measures before transitioning to managed services to mitigate these risks.
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Segment Overview
This managed services market report extensively covers market segmentation by
Type 1.1 MDS1.2 MNS1.3 MSS1.4 MMS1.5 OthersDeployment 2.1 Cloud2.2 On-premisesGeography 3.1 North America3.2 Europe3.3 APAC3.4 South America3.5 Middle East and Africa
1.1 MDS- The Managed Data Services (MDS) segment dominates the global managed services market due to growing demand from sectors like IT, banking, financial services and insurance (BFSI), education, healthcare, and retail. SMEs in emerging countries such as China, India, Brazil, Indonesia, and Mexico drive the demand for MDS due to the need for cost-effective, reliable storage systems. MDS offers pay-per-use infrastructure, providing similar functionalities as standard data centers but through a managed service platform. The rise in digital data and focus on data security have increased the demand for cloud MDS, which reduces data theft chances and enhances processing power. Key growth drivers include the increasing number of smart connected devices, educational data from online courses, handheld devices, and data analytics for informed business decisions. The MDS market is expected to witness significant growth due to increasing data center implementation by large organizations and cost savings from adopting MDS over building in-house data centers.
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Research Analysis
The Managed Services Market is experiencing significant growth due to the increasing adoption of cloud computing, IoT devices, and digital transformation in various industries. Businesses are seeking Managed Service Providers (MSPs) to manage their IT infrastructure, ensuring operational efficiency and security. Cloud-based technologies, including platforms and applications, are becoming the norm, leading to a higher demand for managed IT services and professional services. Cybersecurity is a top priority, with IT security professionals focusing on data security and application testing to protect against threats. AI and automation are also key areas of investment, with AIOps analytics and ADTD helping to improve front-end monitoring and incident response. Industry requirements and consumer needs are driving the adoption of IoT technologies and cloud-based solutions, while hybrid work models continue to challenge organizations to maintain security and productivity. Blockchain is also gaining traction in the market, offering enhanced security and transparency for data management.
Market Research Overview
The Managed Services Market is witnessing significant growth due to the increasing adoption of cloud computing, cybersecurity, data management, artificial intelligence, automation, and IoT devices in various industries. These technologies are transforming the way businesses operate, leading to the need for Managed Service Providers (MSPs) to offer managed IT services, professional services, and digital transformation solutions. MSPs provide a range of services including network service, communication collaboration service, mobility service, information service, application testing, cloud platform, and managed IT services to ensure business productivity and operational efficiency. They offer cloud-based technologies and IoT solutions to help businesses manage their hybrid work models and address industry requirements and consumer needs. Cybersecurity and data security are critical concerns for businesses, and MSPs offer managed security services, endpoint management solutions, and privacy protection to mitigate cyber threats. The healthcare & life sciences, retail & consumer goods, energy & utilities, media & entertainment, and other industries are adopting managed services to improve their IT operations, network infrastructure, and server & device management. MSPs also offer IT operations services, project & portfolio management, agile approaches, and front-end monitoring to help businesses stay competitive and adapt to the latest industry trends. With the increasing use of AI, ML, SaaS, big data, and other cloud-based solutions, MSPs are providing skilled resources and expertise to help businesses leverage these technologies 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
TypeMDSMNSMSSMMSOthersDeploymentCloudOn-premisesGeographyNorth 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/
View original content to download multimedia:https://www.prnewswire.com/news-releases/managed-services-market-to-grow-by-usd-217-billion-2025-2029-boosted-by-increased-adoption-of-iot-solutions-with-ai-redefining-the-market-landscape—technavio-302364767.html
SOURCE Technavio
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