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EMERGE Reports Strong Q2 2024 Results

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4 months ago

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First Organic Revenue Growth quarter since Q4 2020. Improved Profitability.

TORONTO, Aug. 27, 2024 /CNW/ – EMERGE Commerce Ltd. (TSXV: ECOM) (“EMERGE” or the “Company”) today announced results for its three months ended June 30, 2024. Copies of the interim financial statements and MD&A are available on the Company’s profile on SEDAR at www.sedar.com.

Q2 2024 Financial Highlights

Q2 GMS1 increased by 5% to $8.4M compared to $8.0M in Q2 2023Q2 Revenue increased by 9.4% to $5.2M compared to $4.7M in Q2 2023. Excluding Carnivore Club, a brand that is actively eliminating loss-making revenue, EMERGE revenue growth was 14%, driven by truLOCAL and the golf business. Q2 Gross Profit increased by 13% to $2.1M compared to $1.9M in Q2 2023Q2 Gross Margin improved to 41% compared to 39% in Q2 2023Q2 Adjusted EBITDA1 improved to $(73K) compared to $(346K) in Q2 2023Q2 Net loss improved to $(549K) compared to $(2.0M). The majority of the net loss was attributable to a one-time non-cash modification expense related to the restructured convertible note. Excluding the one-time charge, Net loss for Q2 2024 would have been $(251K)Cash on hand at June 30, 2024 was $2.2M

Ghassan Halazon, Founder and CEO, EMERGE commented, “Q2 was a major turning point for EMERGE, as we delivered our first quarter of positive organic revenue growth since late 2020, following a multi-year comedown from the artificially high pandemic levels. Across the spectrum, we delivered materially improved metrics, including year-over-year growth in GMS, Revenue, Gross Profit, Adjusted EBITDA and Net Income. We remain focused on delivering on the “return-to-revenue-growth” plan that we articulated earlier in the year, and see continued momentum in Q3 to date. Both truLOCAL and our golf business saw healthy YoY organic revenue growth. Meanwhile, Carnivore Club, our smallest brand, is a business we have actively been optimizing for profitability, while shrinking “loss-making” revenue. Excluding Carnivore Club, our Q2 revenue grew 14% year over year. Our more streamlined portfolio strategy this year has meant that most of management’s time and energy has been spent on optimizing the existing brands directly, re-igniting growth, and improving profitability. Finally, I would like to take this opportunity to offer my sincere gratitude to our unrelenting team, Board, shareholders and trusted partners as we deliver this breakthrough quarter, and look to build on this momentum for the balance of 2024 and beyond.”

Brand-Level Commentary

truLOCAL, our premium meat subscription service, and EMERGE’s largest business by revenue, saw healthy organic growth in Q2.

Management believes truLOCAL represents an outsized strategic opportunity for the Company with a large total addressable market. We view it as an anchor asset that we can build around in the food tech space at large where we have big ambitions. truLOCAL’s future growth is expected to come from a mix of consumer subscription revenue growth (core business), B2B initiatives & partnerships, geographical expansion, and acquisition opportunities down the line.

The golf vertical, which includes UnderPar and JustGolfStuff, continues to perform well. The golf business has gained from the weakening macro climate which has resulted in more golf courses returning to the marketplace platform, in some cases for the first time in years, offering more aggressive deals to seek customers.

Carnivore Club, EMERGE’s smallest business, continues to be optimized for profitability, which includes the elimination of loss-making revenue.

Excluding Carnivore Club, EMERGE’s Q2 2024 revenue increased by approximately 14%.

Outlook

EMERGE is seeing strong sales momentum through Q3 to date, and continues to execute towards a return to organic revenue growth plan in 2024, with a substantially improved profitability profile and reduced overall debt levels.

The recent interest rate cuts, as well as the highly anticipated upcoming rate reductions, are expected to result in meaningful cash savings for the business.

Top Priorities

The Company’s top priorities in the near-term are to i) continue to drive organic growth, ii) extract further operational efficiencies, and iii) opportunistically explore avenues to further pay down debt and reduce interest expense.

Voluntary Option Cancellations

EMERGE announces the voluntary cancellation of certain stock options (the “Options”) pursuant to the Company’s omnibus equity incentive plan.

A total of 2,334,390 Options were voluntarily cancelled by certain directors and officers of the Company. The Options were previously issued with an effective price of between $0.11 and $0.79 per share. Prior to this cancellation, each vested Option entitled the holder to receive one common share of the Company.

Management Transition

As part of the Company’s strategy to operate a leaner HQ team to support our more streamlined brand portfolio, Fazal Khaishgi will be stepping down from his role as Chief Operating Officer by November 2024. EMERGE has no plans to replace this position.

“On behalf of the EMERGE team, I’d like to extend our sincere gratitude to Fazal for his true partnership over the years, having played an instrumental role from our foundational stages until this point. We will continue to work closely with Fazal throughout the transition period, and wish him nothing but the best in his future endeavours,” commented Halazon.

Conference Call

Management will host a conference call on Tuesday, August 27 at 8:30 am ET to discuss its second quarter results. To access the conference call, please dial (437) 900-0527 or (888) 510-2154 and provide conference ID 21130.

Alternatively, the conference call can be accessed online at: https://app.webinar.net/37Ao90x9G2v

Selected Financial Highlights

The tables below set out selected financial information and should be read in conjunction with the Company’s consolidated financial statements and MD&A for the three months ended June 30, 2024, which are available on SEDAR.

Three months
ended June 30,

Three months
ended June 30,

Six months

 ended June 30,

Six months

 ended June 30,

2024

$

2023

$

2024

$

2023

$

Gross Merchandise Sales1

8,429,775

8,008,648

16,075,033

15,616,866

Total revenue

5,193,900

4,745,815

10,202,951

10,071,510

Adjusted EBITDA1

(73,210)

(346,047)

(172,516)

(871,723)

Net (loss) income from continuing operations

(663,363)

(1,758,822)

(653,921)

(4,167,900)

Net (loss) income

(549,190)

(1,954,819)

(63,382)

(4,084,532)

Basic and diluted (loss) per share

(0.01)

(0.02)

(0.01)

(0.04)

1

Non-GAAP Financial Measure. Refer to section “Non-GAAP Financial Measures” for additional information.

Results from WholesalePet, BattlBox, and WagJag have been reclassified to discontinued operations.

The following table highlights Adjusted EBITDA and a reconciliation of the Company’s reported results to its adjusted measures:

Three months
ended June 30,

Three months
ended June 30,

Six months

 ended June 30,

Six months
ended June 30,

2024

$

2023

$

2024

$

2023

$

Net (loss) income

(549,190)

(1,954,819)

(63,382)

(4,084,532)

Add back:

Finance costs

300,326

858,425

799,163

1,917,400

Income taxes

36,105

(538,987)

(134,378)

(767,047)

Amortization

59,533

792,870

119,190

1,587,174

EBITDA

(153,226)

(842,511)

720,593

(1,347,005)

Share-based compensation

29,363

38,359

54,635

115,564

Transaction cost

231

57,542

101,589

204,057

Foreign exchange and other losses (gains)

164,595

507,799

(458,794)

542,262

Fair value change in contingent consideration

–

(303,233)

–

(303,233)

Net loss (income) from discontinued operations

(114,173)

195,997

(590,539)

(83,368)

Adjusted EBITDA

(73,210)

(346,047)

(172,516)

(871,723)

 

The following table highlights GMS and a reconciliation of the Company’s reported results to its adjusted measures:

Three months
ended June 30,

Three months

 ended June 30,

Six months
ended June 30,

Six months

 ended June 30,

2024

$

2023

$

2024

$

2023

$

Revenue

5,193,900

4,745,815

10,202,951

10,071,510

Adjusted for:

Merchant costs deducted from net revenue

3,524,062

3,370,510

6,364,427

5,997,455

Sales added to deferred revenue and value

of orders fulfilled not included in revenue

1,838,405

1,720,662

3,792,850

3,314,377

Deferred and other adjustments to revenue recognized

(2,041,057)

(1,820,285)

(4,035,339)

(3,749,239)

Advertising revenue

(85,535)

(8,054)

(249,856)

(17,237)

GMS

8,429,775

8,008,648

16,075,033

15,616,866

About EMERGE

EMERGE (TSXV: ECOM) is a premium e-commerce brand portfolio in Canada and the U.S. Our subscription and marketplace e-commerce properties provide our members with access to unique offerings across grocery and golf verticals. Our grocery businesses include truLOCAL.ca, our premium meat subscription brand, and Carnivore Club, our artisanal meat brand. Our golf businesses include UnderPar, our discounted experiences brand, and JustGolfStuff, our golf products & apparel brand.

To learn more visit https://www.emerge-commerce.com/

Follow EMERGE:
LinkedIn | Twitter | Instagram | Facebook 

Cautionary notice

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Non-GAAP Measures

This press release makes reference to certain non-GAAP measures. These non-GAAP measures are not recognized measures under IFRS, do not have a standardized meaning prescribed by IFRS and are therefore unlikely to be comparable to similar measures presented by other companies. Rather, these measures are provided as additional information to complement those IFRS measures by providing a further understanding of results of operations from management’s perspective. Accordingly, they should not be considered in isolation nor as a substitute for analysis of the financial information of the Company reported under IFRS. Gross Merchandise Sales (“GMS”), EBITDA, and Adjusted EBITDA should not be construed as alternatives to revenue or net income/loss determined in accordance with IFRS. GMS, EBITDA and Adjusted EBITDA do not have any standardized meaning under IFRS and therefore may not be comparable to similar measures presented by other issuers.

GMS as defined by management is the total dollar value of customer purchases of goods and services, excluding applicable taxes and net of discounts and refunds. Management believes GMS provides a useful measure for the dollar volume of e-commerce transactions made through our platforms and an indicator for our business performance.

Earnings before interest, taxes, depreciation and amortization (“EBITDA”) and Adjusted EBITDA as defined by management means earnings before interest and financing costs, income taxes, depreciation and amortization, transaction costs, foreign exchange gains/losses, discontinued operations, unrealized gains/losses on contingent consideration and share-based compensation. Management believes that Adjusted EBITDA is a useful measure because it provides information about the operating and financial performance of EMERGE and its ability to generate ongoing operating cash flow to fund future working capital needs and fund future capital expenditures or acquisitions.

A reconciliation of the adjusted measures is included in the Company’s management discussion & analysis for the twelve months ended December 31, 2023 in the section “Non-GAAP Financial Measures” available through SEDAR at www.sedar.com.

Notice regarding forward-looking statements

This press release may contain certain forward-looking information and statements (“forward-looking information”) within the meaning of applicable Canadian securities legislation, that are not based on historical fact, including without limitation statements containing the words “believes”, “anticipates”, “plans”, “intends”, “will”, “should”, “expects”, “continue”, “estimate”, “forecasts” and other similar expressions. Readers are cautioned to not place undue reliance on forward-looking information.  Actual results and developments may differ materially from those contemplated by these statements.  The Company undertakes no obligation to comment on analyses, expectations or statements made by third-parties in respect of the Company, its securities, or financial or operating results (as applicable).  Although the Company believes that the expectations reflected in forward-looking information in this press release are reasonable, such forward-looking information has been based on expectations, factors and assumptions concerning future events which may prove to be inaccurate and are subject to numerous risks and uncertainties, certain of which are beyond the Company’s control, including the risk factors discussed in the Company’s MD&A, Prospectus Supplement and Annual Information Form and are available through SEDAR at www.sedar.com. The forward-looking information contained in this press release are expressly qualified by this cautionary statement and are made as of the date hereof. The Company disclaims any intention and has no obligation or responsibility, except as required by law, to update or revise any forward-looking information, whether as a result of new information, future events or otherwise.

On Behalf of the Board
Ghassan Halazon
Director, President and CEO

SOURCE Emerge Commerce Ltd.

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Technology

Pro AV Market to Grow by USD 180.6 Million (2025-2029), Increased Digital Signage Usage Drives Growth, AI-Driven Market Transformation – Technavio

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18 minutes ago

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January 3, 2025

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NEW YORK, Jan. 3, 2025 /PRNewswire/ — Report with the AI impact on market trends – The global pro AV market size is estimated to grow by USD 180.6 million from 2025-2029, according to Technavio. The market is estimated to grow at a CAGR of 10.4% during the forecast period. Increased use of digital signage is driving market growth, with a trend towards training for pro av equipment. However, increased emphasis on one-on-one learning poses a challenge. Key market players include Applied Electronics Ltd., Arista Networks Inc., Audinate Group Ltd., AVI SPL LLC, AVI Systems, CCS Presentation Systems, Diversified, Ford Audio Video LLC, Godrej and Boyce Manufacturing Co. Ltd., ITOCHU Corp., LG Corp., New Era Technology, Pro AV Solutions Pty Ltd., Samsung Electronics Co. Ltd., Semtech Corp., Solutionz Inc., Synergy Measurement Technologies Pvt. Ltd., Vistacom Inc., and WESCO International Inc..

Key insights into market evolution with AI-powered analysis. Explore trends, segmentation, and growth drivers- View Free Sample PDF

Pro AV Market Scope

Report Coverage

Details

Base year

2024

Historic period

2019 – 2023

Forecast period

2025-2029

Growth momentum & CAGR

Accelerate at a CAGR of 10.4%

Market growth 2025-2029

USD 180.6 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

8.6

Regional analysis

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

Performing market contribution

APAC at 52%

Key countries

US, China, UK, Canada, Japan, India, South Korea, Germany, France, and Italy

Key companies profiled

Applied Electronics Ltd., Arista Networks Inc., Audinate Group Ltd., AVI SPL LLC, AVI Systems, CCS Presentation Systems, Diversified, Ford Audio Video LLC, Godrej and Boyce Manufacturing Co. Ltd., ITOCHU Corp., LG Corp., New Era Technology, Pro AV Solutions Pty Ltd., Samsung Electronics Co. Ltd., Semtech Corp., Solutionz Inc., Synergy Measurement Technologies Pvt. Ltd., Vistacom Inc., and WESCO International Inc.

Market Driver

Pro Av Market: Trends Shaping the Future of Audio-Visual Technologies The Pro Av market is experiencing significant growth, driven by trends that prioritize immersive experiences for audiences in various sectors. Professional-grade equipment, including projectors, sound systems, video conferencing solutions, control systems, and interactive displays, are increasingly being adopted for conferences, concerts, corporate events, and even retail stores. AR applications, VR simulations, and UCC Solutions are revolutionizing customer engagement and employee training. The education sector is embracing classrooms, remote learning, and simulation training. Small businesses and global enterprises alike are investing in Pro Av solutions to enhance security, networked devices, and real-time dashboards. The corporate, entertainment, and government sectors are leveraging 4K and 8K video technologies, audio systems, and wireless technology for their venues and events. AI integration, IoT sensors, and display technologies like OLED and LED video walls are transforming public spaces, transportation hubs, and office spaces. Remote working, e-learning practices, and hybrid workspaces are driving demand for high-definition audio-visual technologies. Direct sales, distributors, and e-commerce platforms cater to home use and commercial applications. The Pro Av market encompasses Professional Video, Professional Audio, Video Displays, Capture and Production, Video Projection, Microphones, Pro Speakers, Sound Mixers, Signal Processors, Power Amplifiers, and more. Security risks, such as data breaches, malware, and unauthorized access, necessitate AV systems design by integration firms and program management. The market serves various industries, including education, government, hospitality, consulting, and B2B/B2C sectors. 

Pro AV equipment vendors, including Seiko Epson, provide training programs for users to enhance their expertise in the latest AV technology. Epson’s Pro AV Academy is an example, catering to engineers, operators, and sales personnel. This initiative aims to equip AV professionals with comprehensive knowledge of Epson’s AV solutions and their application across various sectors such as events and retail, education, and business. The academy offers training in arranging, maintaining, operating, and marketing these technologies within the pro AV rental sector. 

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Market Challenges

Pro Av Market: Overcoming Challenges in Audiences, Experiences, and Technology The Pro Av market faces various challenges in delivering engaging experiences with professional-grade equipment for diverse sectors. These sectors include conferences, concerts, corporate events, education, telemedicine, retail stores, and more. Immersive experiences require advanced AV solutions like projectors, sound systems, video conferencing solutions, control systems, and interactive displays. Integrating AR applications, VR simulations, UCC Solutions, IoT sensors, AI, and 4K/8K video technologies pose complexities. Small businesses face security risks from networked devices, data breaches, malware, and unauthorized access. AV systems design, integration, and program management require expertise. Real-time dashboards, wireless technology, and IoT integration add to the complexity. The corporate, entertainment, government, and education sectors demand high-definition video and audio technologies, interactive whiteboards, high-definition projectors, and direct sales or distribution channels. Home use, commercial, and B2B/B2C markets also require tailored solutions. Professional Video, Professional Audio, Video Displays, Capture and Production, Video Projection, Microphones, Pro Speakers, Sound Mixers, Signal Processors, Power Amplifiers, and Corp Venues and Events all contribute to the Pro Av market’s growth. Challenges include supply chain management, social media, online streaming platforms, digital marketing, and hybrid workspaces. In conclusion, the Pro Av market must address these challenges to provide experiences, professional-grade equipment, and customized solutions for various sectors while ensuring security and integration of advanced technologies like AI, IoT, and 4K/8K video technologies.The shift towards one-on-one learning and homeschooling will affect the demand for document cameras in the education sector. One-on-one learning is a teaching technique that provides individual attention to students, enabling them to learn effectively at their own pace. With the increasing use of laptops and tablets for this methodology, the need for document cameras may decrease. This trend is expected to continue during the forecast period, potentially reducing the market size for document cameras in education.

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Segment Overview

This pro av market report extensively covers market segmentation by 

Type 1.1 Products1.2 ServicesIndustry Application2.1 Entertainment2.2 Hospitality2.3 Retail2.4 Corporate2.5 TransportationGeography 3.1 APAC3.2 North America3.3 Europe3.4 South America3.5 Middle East and Africa

1.1 Products- The Pro AV market is driven by the growth of the display sector, specifically digital signage. Digital signage utilizes wide, bright digital screens, such as LCD or plasma displays, for delivering videos, web content, images, and texts in various public and private environments. This technology is popular in retail, corporate settings, medical facilities, schools, libraries, transportation hubs, and the hospitality industry for information-sharing, advertising, and marketing purposes. Display control is primarily managed by PCs and servers using proprietary and public-domain software. The display sector continues to dominate the Pro AV market due to its advantages, including frequent updates, effective communication, power efficiency, and eco-friendliness. The global Pro AV market by projectors is also expected to grow, driven by their increasing use in education, corporate, hospitality, healthcare, and government sectors for video displays and presentations. Sound reinforcement systems, which enhance the loudness of pre-recorded or live music, will witness growth due to the rising number of live events and concerts. However, the conferencing segment may experience slow growth due to the shift towards software-driven, cost-effective solutions and the increasing popularity of virtual conferences. The “Others” segment, including room management, control systems, and IP distribution, is expected to decline due to the growing demand for displays and sound reinforcement systems.

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Research Analysis

The Pro Av market caters to the education industry, providing audiences with experiences through professional-grade equipment. This includes projectors delivering crystal-clear 4K and 8K video technologies, and sound systems with audio systems and wireless technology for larger venues like concert halls and corporate events. Video conferencing solutions enable seamless communication, while capture and production equipment allows for high-quality content creation. Professional Video and Professional Audio equipment are essential for various sectors, including government and public spaces, where large-scale video displays and powerful sound systems create impact. E-learning practices also benefit from these technologies, enhancing the learning experience. IoT integration and signal processors ensure efficient and effective use of equipment, while power amplifiers and microphones deliver clear, powerful sound. Pro Speakers and sound mixers provide customizable audio experiences for various applications. The market continues to evolve, with innovations in video projection, capture and production, and audio systems driving growth.

Market Research Overview

The Pro Av Market encompasses a wide range of audio-visual (AV) technologies designed for audiences seeking experiences. These solutions include professional-grade equipment such as projectors, sound systems, video conferencing solutions, control systems, and more. The market caters to various sectors, including corporate events, concerts, education, retail stores, and government offices. Technologies like AR applications, VR simulations, UCC Solutions, and IoT sensors are increasingly popular. AI integration is also a key trend, enhancing customer engagement, employee training, and security. AV systems design is crucial, with integration firms providing program management and real-time dashboard solutions. The market serves diverse industries, including the corporate, entertainment, and government sectors, as well as public spaces, remote working environments, and educational institutions. Technologies like 4K and 8K video, audio systems, and wireless technology are driving innovation. Key applications include video displays, capture and production, video projection, microphones, pro speakers, sound mixers, signal processors, and power amplifiers. The market caters to various sectors, including B2B and B2C, offline and online, and commercial and home use. Security risks, such as data breaches, malware, and unauthorized access, are significant concerns, necessitating security measures. The market also offers solutions for small businesses and e-learning practices. AV technologies continue to evolve, with advancements in display technologies, such as OLED displays and LED video walls, and audio technologies, like sound systems and high-definition audio processing. Interactive whiteboards and high-definition projectors are also popular. The market serves various industries, including transportation, hospitality, consulting, e-commerce, and more. Social media and online streaming platforms are increasingly utilizing AV technologies for digital marketing and hybrid workspaces. The market also caters to exhibits, collaborative classrooms, retail spaces, transportation hubs, office spaces, and OEM and electronics stores. Global enterprises, live performances, commercial real estate, music markets, supply chain management, and government offices are among the key sectors benefiting from AV technologies. The market continues to innovate, with advancements in AI integration and IoT integration driving growth.

Table of Contents:

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

TypeProductsServicesIndustry ApplicationEntertainmentHospitalityRetailCorporateTransportationGeographyAPACNorth AmericaEuropeSouth 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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SOURCE Technavio

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Technology

Satellite-Based Earth Observation Market size to increase by USD 9.66 Billion between 2024 to 2029, Market Segmentation by Application, Type, Geography, Technavio

Published

18 minutes ago

on

January 3, 2025

By

NEW YORK, Jan. 3, 2025 /PRNewswire/ — The global satellite-based earth observation market size is estimated to grow by USD 9.66 billion from 2025 to 2029, according to Technavio. The market is estimated to grow at a CAGR of over 12% during the forecast period. The report provides a comprehensive forecast of key segments below-

Segmentation Overview

Application 1.1 Defense1.2 Weather1.3 LBS1.4 Energy1.5 OthersType 2.1 VAS2.2 DataGeography 3.1 North America3.2 APAC3.3 Europe3.4 South America3.5 Middle East and Africa

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1.1 Fastest growing segment:

The defense segment held a substantial share in the global satellite-based Earth observation market in 2023. This trend is attributed to increasing defense spending on satellite technologies for surveillance, security, and intelligence purposes by emerging nations like China, India, and Russia. In September 2022, Airbus SE secured 15-year contracts with the Czech Republic and Netherlands defense ministries to provide satellite communications. The Czech Republic and Netherlands armed forces will utilize two and three channels, respectively, of Airbus’ UHF military communications hosted payload on EUTELSAT 36D. Launch scheduled for 2024, such agreements strengthen civil contractors’ presence in the military domain. The defense segment is projected to witness growth through hybrid procurement, combining public-private partnerships and proprietary application/data purchase framework contracts, due to budgetary constraints, low utilization rates, and industry competitiveness enhancement.

Analyst Review

The Satellite-based Earth Observation market is a dynamic and growing industry that provides valuable insights and data about the Earth through various applications. This market caters to diverse sectors including Defense, Border monitoring, Disaster management, Military missions, and Civil engineering & construction. High-resolution imaging services are essential for Defense & intelligence, Agriculture & forestry, Transportation, Real estate, and Urban planning. Big data technology plays a crucial role in processing and analyzing vast amounts of satellite imagery. Reusable rockets and alternative earth observation methods like high-altitude balloons, Unmanned Aerial Vehicles (UAVs), and drones are also gaining popularity. The market encompasses Telecommunication services, Space economy, Commercial space activities, and the Private spaceflight industry. Satellite imagery is used for various purposes such as Infrastructure security, Homeland security, Border mapping, and Infrastructure development.

Market Overview

The Satellite-based Earth Observation market encompasses various applications including defense sector, border monitoring, disaster management, military missions, and civil engineering construction. Big data technology plays a crucial role in processing high-resolution imagery for defense & intelligence, agriculture & forestry, transportation, real estate, and urban planning. Reusable rockets and high-altitude balloons are transforming the space economy, enabling commercial space activities and private spaceflight industry. Telecommunication services and satellite imagery are essential for government sector initiatives, smart city development, and infrastructure security. Earth-imaging satellites provide valuable data sources for meteorology, cartography, ocean salinity, ice thickness, agricultural health, air quality, and natural resource management. Technological capabilities include high-resolution cameras, remote sensing technology, and satellite analytics. Market growth is driven by the need for natural catastrophe prevention, climate change mitigation, and scientific research and development. However, market restraints include highly trained workers, encrypted data security, big data management, launch costs, and satellite production. Startups and global corporations are investing in satellite imagery, orbits, and data sources to address various industries and applications. Satellogic, GeoterraImage, Imagesat International, MDA Corporation, Planet Labs, and others are leading the way in satellite innovation. Non-military purposes include environmental monitoring, weather occurrences, and open-source data. Space programs and urban development are also significant markets for satellite-based Earth observation.

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Key Topics Covered:

 1 Executive Summary
 2 Market Landscape
 3 Market Sizing
 4 Historic Market Size
 5 Five Forces Analysis
 6 Market Segmentation
 7 Customer Landscape
 8 Geographic Landscape
 9 Drivers, Challenges, and Trends
10 Vendor Landscape
11 Vendor 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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SOURCE Technavio

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Technology

Machine Vision (MV) Camera Market size to increase by USD 2.02 Billion between 2024 to 2029, Market Segmentation by Platform, Type, Geography, Technavio

Published

18 minutes ago

on

January 3, 2025

By

NEW YORK, Jan. 3, 2025 /PRNewswire/ — The global machine vision (mv) camera market size is estimated to grow by USD 2.02 billion from 2025 to 2029, according to Technavio. The market is estimated to grow at a CAGR of over 9.9% during the forecast period. The report provides a comprehensive forecast of key segments below-

Segmentation Overview

Platform 1.1 PC based camera1.2 Smart camera1.3 Wireless camera1.4 Wearable cameraType 2.1 Line scan2.2 Area scan2.3 3D scan camerasGeography 3.1 APAC3.2 North America3.3 Europe3.4 Middle East and Africa3.5 South America

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1.1 Fastest growing segment:

PC-based machine vision systems offer flexible interfacing with direct-connect cameras or image acquisition boards, and are backed by configurable application software. These systems boast efficient processing power, enabling them to handle complex operations swiftly. The broader range of capabilities allows PC systems to compensate for unexpected variables in tasks. In August 2020, Omron Automation Americas introduced a new machine vision solutions package for PC-based systems. The FJ2 cameras boast advanced CMOS sensors, frame rates of up to 282 FPS, and resolutions from 0.4 MP to 5 MP in monochrome and color versions. This new product launch is expected to bolster market growth during the forecast period.

Analyst Review

Machine Vision (MV) cameras are advanced imaging devices designed to process and analyze visual information in real-time. They are essential components of machine vision systems used in various industries for position guidance, measurement, and pattern recognition. MV cameras come in different types, including smart cameras, wireless cameras, wearable cameras, parking cameras, CMS cameras, SVS cameras, barcode scanners, 3D imaging cameras, and line scan cameras. Each type caters to specific applications. Lens type is another crucial factor, with wide-angle lenses providing a broader field of view and normal lenses offering a more standard perspective. MV cameras are integrated into handheld systems, robotic systems, and production lines to enhance automation and improve product quality.

Market Overview

Machine Vision (MV) cameras, also known as machine vision cameras, are advanced imaging devices designed for automating industrial processes through position guidance, measurement, identification, and pattern recognition. They employ imagerecognition algorithms to analyze data from digital sensors and provide solutions for industries such as manufacturing, aerospace, transportation, and agriculture. MV cameras come in various forms, including smart cameras, PC-based cameras, wireless cameras, wearable cameras, and more. Advanced manufacturing industries, including smart factories and automated production lines, heavily utilize MV cameras for quality assurance, inspection, and automation. Applications range from microscopy and barcode scanning to 3D modeling and autonomous vehicle parking cameras. Strategic partnerships and the adoption of AI and machine learning technologies continue to drive innovation in the MV camera market. MV cameras are available in various types, including smart camera-based systems, advanced manufacturing solutions, and specialized applications like line scan cameras, 3D imaging cameras, and UAV-based inspections. Lens types, such as wideangle, normal, telephoto, and wide area lenses, cater to different use cases. With a compact footprint and high production capacity, MV cameras are essential tools for industrial operations and quality tests, enabling the identification of components and ensuring efficient, accurate, and consistent manufacturing processes.

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Key Topics Covered:

 1 Executive Summary
 2 Market Landscape
 3 Market Sizing
 4 Historic Market Size
 5 Five Forces Analysis
 6 Market Segmentation
 7 Customer Landscape
 8 Geographic Landscape
 9 Drivers, Challenges, and Trends
10 Vendor Landscape
11 Vendor Analysis
12 Appendix

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