data-center-substation-market-size-worth-$1480-billion-by-2030:-grand-view-research,-inc.

Data Center Substation Market Size Worth $14.80 Billion By 2030: Grand View Research, Inc.

 

The global data center substation market size is expected to reach USD 14.80 billion by 2030, registering a CAGR of 5.6% from 2021 to 2030, according to a study conducted by Grand View Research, Inc. Data centers are a vital part of the IT infrastructure of the digitized society. New data-intensive technologies and high-speed wireless networks have led to an increased demand for data centers among businesses of all sizes, right from major electricity-intensive industries to limited enterprise computing centers.

Key Insights & Findings:

  • The switchgear segment held the largest market share in 2020 and is expected to register the fastest growth of CAGR 7.1% over the forecast period owing to the rising data center construction activities worldwide
  • The Gas Insulated Switchgear (GIS) sub-segment held the largest share in the switchgear segment. The rising energy demand and replacement of conventional switchgear at data center substations are driving the demand for gas-insulated switchgear
  • In 2020, the above 500kV segment accounted for the largest market share, capturing over 38.8% of the overall demand. A rise in demand for medium to high voltage substations played a pivotal role in driving the demand for this segment
  • North America emerged as a market leader and accounted for 38.0% of the global revenue share in 2020, owing to the presence of data-intensive incumbents as well as start-ups in the region. The region boasts a large number of data center constructions, which, in turn, is increasing the demand for energy-efficient data center substations
  • Asia Pacific is anticipated to emerge as the fastest-growing region over the forecast period.
  • The global market is characterized by intense competition among established players such as Eaton; Siemens Energy; Schneider Electric; General Electric; and Hitachi ABB Powergrids Inc. Key market players are focused on introducing technologically advanced products to cater to the market demands

Read 110 page market research report, “Data Center Substation Market Size, Share & Trends Analysis Report By Component, By Voltage Type (33kV – 110kV, 110kV – 220kV, 220kV – 500kV, Above 500kV), By Region, And Segment Forecasts, 2021 – 2030“, by Grand View Research

Amidst the COVID-19 pandemic, the exponential rise in data generated and consumed by various individuals and organizations has led to the surge in demand for data storage, resulting in the rising number of reliable and efficient data centers. Globally, data centers are evolving as computational hubs for several enterprises and end users with the increasing number of work-from-home jobs. As a result, the unprecedented rise in data generation and the need to improve the performance of data centers have boosted the demand for constructing new data centers and restoring the existing ones. Thus, an increase in the number of data center restoration and construction projects is likely to provide growth avenues for the market in near future.

The rising demand for electrical power systems that are smart, automated, and can help reduce the carbon footprint serves as a catalyst for advancements in the market. Substations with Gas Insulated Switchgear (GIS) are unrivaled in terms of reliability, compactness, efficiency, safety, and providing maximum power availability. Their low maintenance and robust design help minimize the substation footprint. Though GIS substations have a high initial cost, they have a longer lifecycle and require minimum maintenance, serving to reduce lifecycle operating expenses while maximizing the availability of power from the substation. Recent developments in key substation components, such as power transformers, gas-insulated switchgear, fiber-optic current sensors, and high-voltage circuit breakers, have enabled their digitization and moved into the digital age.

For instance, in March 2020, ABB introduced a purpose-built substation to offer tailored solutions to the rapidly growing data center industry. The substation is designed to be safe and highly reliable while enabling efficient operation and maintenance during the entire lifecycle. The new substation is around 30% smaller in size and utilizes 50% lesser copper on control cables. The substation replaces copper cables with fiber optics and reduces the physical connections through digitization. The rising focus on the replacement of old electrical substation infrastructure with upgraded, high-quality, modular, digital, and gas-insulated systems is also expected to augment the market growth.

Grand View Research has segmented the global data center substation market based on component, voltage type, and region:

  • Data Center Substation Component Outlook (Revenue, USD Million, 2018 – 2030)
    • Transformers
    • Switchgears
      • Air Insulated
        • Circuit Breakers
        • Others
      • Gas Insulated
    • Relays
    • Capacitors
    • Busbars
    • Surge Arrestors
  • Data Center Substation Voltage Type Outlook (Revenue, USD Million, 2018 – 2030)
    • 33 kV – 110 kV
    • 110 kV – 220 kV
    • 220 kV – 500 kV
    • Above 500 kV
  • Data Center Substation Region Outlook (Revenue, USD Million, 2018 – 2030)
    • North America
      • U.S.
      • Canada
    • Europe
      • U.K.
      • Germany
      • France
      • Italy
      • Spain
      • Netherlands
      • Ireland
      • Rest of Europe
    • Asia Pacific
      • China
      • India
      • Japan
      • Rest of Asia Pacific
    • Latin America
      • Brazil
      • Mexico
      • Rest of Latin America
    • Middle East
      • Africa

List of Key Players in the Data Center Substation Market

  • Eaton
  • General Electric
  • Hitachi ABB Powergrids Inc.
  • NEI Electric Power Engineering, Inc.
  • NR Electric Co., Ltd.
  • S&C Electric Company
  • Tesco Automation Inc.
  • Hyosung Heavy Industries
  • Schneider Electric
  • Siemens Energy

Check out more studies on topics related data centers, conducted by Grand View Research:

  • Data Center Construction Market – The global data center construction market size was valued at USD 207.2 billion in 2019 and is expected to expand at a compound annual growth rate (CAGR) of 6.4% from 2020 to 2027. The construction process essentially refers to activities involved in the designing, planning, and construction of a facility.
  • Data Center Power Market – The global data center power market size was valued at USD 6.80 billion in 2018 and is expected to grow at a compound annual growth rate (CAGR) of 6.9% from 2019 to 2025. Increasing the need to store data on the cloud has resulted in an upsurge in a number of data centers across the globe.
  • Data Center Colocation Market – The global data center colocation market size was valued at USD 44.42 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 13.3% from 2021 to 2028. Data centers have emerged as an inseparable part of modern business practices responsible for running critical business applications.
video-conferencing-market-to-hit-$75-billion-by-2027,-says-global-market-insights-inc.

Video Conferencing Market to hit $75 billion by 2027, Says Global Market Insights Inc.

 

Major video conferencing market participants include Google, Adobe Systems, Avaya, BlueJeans Network, Cisco Systems, LogMeIn, Citrix Systems, Fuze, Highfive, Microsoft Corporation, Premiere Global Services, Huawei Technologies, KOLLECTIVE, Lifesize, MediaPlatform, Pexip, Polycom, ReadyTalk, uStudio, Zoom Video Communication, Vbrick, and Vidyo Inc.

The video conferencing market is expected to surpass USD 75 billion by 2027, as reported in a research study by Global Market Insights Inc. The ease of use and the pandemic-induced remote working are some of the factors propelling the industry demand.

The increase in outsourcing managed services for IT infrastructure will propel the video conferencing market growth. Many companies are hiring third-party companies to maintain IT services required in the organization including video-conferencing management. It also includes professional consulting services such as operations planning and user training & system recommendations. The managed services include remote solution monitoring, end-to-end ticket resolution, and technical video management. The corporates are also opting for such services as they offer customized video management solutions that include on-site staffing for several infrastructural issues faced by clients.

Request for a sample of this research report @ https://www.gminsights.com/request-sample/detail/3003.

The increasing use of video conferencing technology in the government sector will propel the industry growth. The video conferencing software providers offer a dedicated ecosystem to government bodies to conduct secured virtual meetings and discuss confidential information. The utilization of these platforms suddenly increased with travel restrictions imposed due to the COVID-19 outbreak, resulting in authorities conducting virtual meetings to establish reforms & conduct national level meetings for running the regular operations in the country. Video conferencing solutions help the government to reduce the overall operational cost and also conduct remote training sessions of different stakeholders.

The growing work from home culture in Europe will offer growth opportunities to the video conferencing industry. Several companies are offering permanent work from home options to their employees, particularly after the pandemic. The remote working model has encouraged companies to opt for secure video conferencing solutions for training and meetings. In Europe, according the weforum, the work from home population before & after the virus outbreak changed from around 5% to 12.1%. Finland accounted for the highest share of approximately 25% and Ireland & Luxembourg both accounted for 20% of all individuals working remotely.

Browse key industry insights spread across 280 pages with 530 market data tables and 39 figures & charts from the report,Video Conferencing Market Size By Component (Hardware [Multipoint Control Unit (MCU), Codecs, Peripheral Devices], Software [On-Premise, Cloud], Service [Professional, Managed]), By Type (Room-Based, Telepresence, Desktop), By Application (Corporate Enterprise, Education, Government, Healthcare), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2021 – 2027 in detail along with the table of contents:

https://www.gminsights.com/industry-analysis/video-conferencing-market

Some of the major findings of the video conferencing market report are:

  • The market will witness significant growth on account of the integration of advanced technologies, such as AI, IoT, and machine learning, with the application, resulting in improved facial recognition, audio-video quality, virtual background, automated note taking, chat box, and active noise cancellation, thus creating a better user experience.
  • The increasing smartphone penetration globally will boost the video conferencing market. With multiple players entering the smartphone industry, the competition has increased, leading to lower prices of such devices with all the necessary features.
  • The evolving healthcare sector is fueling the demand for video conferencing technology. With the increasing adoption of online consulting for regular medical check-ups, individuals can receive proper medicinal support from the comfort of their homes, thereby saving both money and time.
  • The growing adoption of cloud-based video conferencing solutions will propel the market growth as there is no requirement of high-end audio-video equipment for conducting video conferencing sessions, thereby saving the overall cost.
  • The growing focus on the developing IT infrastructure in several countries will support the market growth. Government authorities are encouraging companies to invest in building the necessary set-up and create a digital transformation across the region.

Key players operating in the video conferencing market include Google, Adobe Systems, Avaya, BlueJeans Network, Cisco Systems, LogMeIn, Citrix Systems, Fuze, Highfive, Microsoft Corporation, Premiere Global Services, Huawei Technologies, KOLLECTIVE, Lifesize, MediaPlatform, Pexip, Polycom, ReadyTalk, uStudio, Zoom Video Communication, Vbrick and Vidyo.

s&p-global-platts-launches-first-global-suite-methanol-bunker-fuel-price-assessments

S&P Global Platts Launches First Global Suite Methanol Bunker Fuel Price Assessments

 

S&P Global Platts (“Platts”), the leading independent provider of information, analytics and benchmark prices for the commodities and energy markets, today announced the launch of two new daily methanol bunker fuel price assessments reflecting the value of methanol used as a marine fuel at the ports of Singapore and Houston, effective October 25, 2021.

Methanol is one of a number of alternative marine fuels available to the global shipping industry. The addition of two major hub ports in Asia and the United States Gulf Coast follows the launch of Platts’ first-in-market Europe methanol bunker fuel assessment delivered Rotterdam on September 27, 2021 and broadens the offering globally.

Stergios Zacharakis, Head of Global Methanol Pricing, S&P Global Platts said: “Methanol has seen growing demand for use as a marine fuel, on the back of an increased build-out in vessels and related activities at major bunkering hubs around the world. Our new assessments and associated cost comparisons provide new transparency to market participants in the methanol value chain as well as the bunker community as the shipping sector seeks to mitigate greenhouse gas emissions and demand cleaner marine fuels.”

Both new daily assessments will be published on a delivered basis in $/mt at 4:30pm local time in Singapore and 1:30pm local time in Houston. Assessments for both regions will reflect the cost of spot methanol, delivery from terminal to barge and delivery to the receiving vessel. The Singapore assessment will also include storage costs in line with the pricing dynamics of the Southeast Asia methanol market.

In addition, from October 25, 2021, Platts will publish methanol bunker fuel calculations converted to LNG and oil energy content equivalents, enabling comparison with other marine fuels. Platts will also publish daily cost comparisons for alternative marine fuels, reflecting the calorific value comparison of methanol bunker fuel, LNG bunker fuel, marine fuel oil and marine gasoil.

sap-cloud-momentum-accelerates-significantly

SAP Cloud Momentum Accelerates Significantly

 

SAP SE (NYSE: SAP) today announced its financial results for the third quarter ended September 30, 2021.

Business Update Third Quarter 2021

Businesses around the world are reevaluating their business models with increased urgency given the dramatic changes due to the pandemic and the ongoing focus on digital transformation. Customers are choosing SAP for its clearly differentiated capabilities. In addition to helping customers manage their technical migrations, SAP is helping customers redefine and optimize their core end-to-end business processes. This expertise is based on SAP’s unmatched knowledge of industry best practices from working with customers of all sizes across industries and geographies. This is reflected in SAP’s strong third quarter results which were above market expectations.

SAP is seeing continued strong demand and adoption of its ‘RISE with SAP’ offering which customers of all sizes, including an increasing number of large clients, are selecting to manage their business transformation. As more customers adopt this holistic subscription offering, software licenses revenue decreased as anticipated.

SAP is seeing strong growth in current cloud backlog across its cloud portfolio, in particular with S/4HANA Cloud. SAP’s cloud revenue growth also accelerated sequentially.

Highlights

  • ‘RISE with SAP’ continued to gain traction after a successful launch in January. SAP saw strong demand from companies of all sizes and closed deals with more than 300 customers in the third quarter. Large customers such as Asda Stores Ltd. and EG Group selected ‘RISE with SAP’. Additional wins included Cirque du Soleil, Philips Domestic Appliances Netherlands, HCL, Röhm, Etihad Water and Electricity, Tate & Lyle Americas, KTM Fahrrad, Ingram Micro, and Sky Italia.
  • More than 500 S/4HANA customers were added in the quarter, taking total adoption to more than 17,500 customers, up 16% year over year, of which more than 11,400 are live. In the third quarter, approximately 60% of the additional S/4HANA customers were net new.
  • Signavio continued to show outstanding performance as part of SAP’s Business Process Intelligence (BPI) segment. Current cloud backlog grew in triple digits. SAP’s BPI solutions are key to our customers’ business transformation and acceleration to the cloud. DB Schenker and many others chose SAP BPI solutions in the third quarter.
  • Business Technology Platform, SAP’s PaaS offering, is the foundation of the Intelligent Enterprise, providing a single platform for integration and extensibility across the SAP portfolio and non-SAP solutions, as well as deriving insights from data. Gartner named SAP a Leader in its Magic Quadrant for its Enterprise Integration PaaS report for the second year in a row, ahead of key competitors. Current cloud backlog grew in strong double digits. Dufry International, Yamaha Corporation, SoftBank, Office Depot Mexico, and Reckitt chose this offering in the third quarter.
  • SAP aims to make sustainability profitable and profitability sustainable, with solutions that provide unparalleled levels of transparency and understanding across data and processes. SAP launched SAP Product Footprint Management, which will help customers reduce their supply-chain carbon footprints. Forthcoming products include SAP Responsible Design and Production, which is designed to enable customers to build sustainable outcomes into product design, and SAP Sustainability Control Tower, which lets companies report effectively on their progress to net zero.
  • Key customer wins across SAP’s solutions portfolio included: Continental, Adidas, Bayer, Robert Bosch, U.S. Department of Defense, Siemens Energy, University of Florida, VMware, The Football Association, FAW-Volkswagen Automotive, and People’s Insurance Company of China (PICC). Lycamobile, E.ON, Atos, and Generali China Life Insurance all went live on SAP solutions in the third quarter.
  • Google Cloud and SAP partnered to accelerate business transformations in the cloud. The expanded partnership will help customers execute business transformations, migrate critical business systems to the cloud and augment existing business systems.
  • In September SAP and Dediq launched SAP Fioneer, a joint venture for the financial services industry. SAP Fioneer will help banking and insurance companies meet their needs for speed, scalability and cost-efficiency.
  • Qualtrics closed its acquisition of Clarabridge, a leader in omnichannel conversational analytics capabilities, on October 1st. This will further accelerate Qualtrics’ growth and position as the world’s #1 experience management platform.

Financial Performance Third Quarter 20211

SAP’s cloud momentum further accelerated in the third quarter with sequential growth in both current cloud backlog and cloud revenue. Current cloud backlog was up 24% to €8.17 billion and up 22% (at constant currencies). Concur’s backlog remained flat and weighed 3 percentage points on overall backlog growth. Cloud revenue was up 20% to €2.39 billion and up 20% (at constant currencies). SaaS/PaaS cloud revenue outside the Intelligent Spend business was up 27% and up 27% (at constant currencies). Software licenses revenue was down 8% year over year to €0.66 billion and down 8% (at constant currencies). Cloud and software revenue was up 7% to €5.91 billion and up 6% (at constant currencies). Services revenue was down 6% year over year to €0.93 billion and down 6% (at constant currencies). This revenue decline is primarily attributable to the November 2020 divestiture of SAP Digital Interconnect which contributed approximately €81 million of services revenue in the third quarter of 2020. Total revenue was up 5% year over year to €6.84 billion and up 5% (at constant currencies).

The share of more predictable revenue grew by 3 percentage points year over year to 77% in the third quarter.

IFRS Operating profit decreased 15% to €1.25 billion and IFRS Operating margin decreased by 4.3 percentage points to 18.2% mainly due to higher share-based compensation expenses (primarily related to Qualtrics). Non-IFRS Operating profit increased 2% to €2.10 billion (up 2% at constant currencies) and Non-IFRS Operating margin decreased by 0.9 percentage points to 30.7% (down 0.7 percentage points at constant currencies). IFRS and Non-IFRS Operating profit includes a disposal gain of €77 million related to the launch of SAP Fioneer, a dedicated Financial Services Industry unit jointly owned by SAP and Dediq.

IFRS Earnings per share decreased 10% to €1.19 and Non-IFRS Earning per share increased 2% to €1.74, including another strong contribution from Sapphire Ventures.

Operating cash flow for the first nine months was down 3% year over year to €4.95 billion. Free cash flow decreased by 1% year over year to €4.13 billion. Positive effects from lower share-based compensation and lower restructuring payments were compensated by higher income taxes paid net of refunds. At quarter end, net debt was –€3.62 billion.

Expanded Financial Disclosure – SAP’s Accelerated Cloud Transition

Beginning in 2021, SAP expanded its financial disclosure to provide investors with transparency on the transition of its core ERP business to the cloud. Specifically, the Company discloses current cloud backlog and cloud revenue contributed by SAP S/4HANA Cloud, along with nominal and constant currencies year-over-year growth rates.

In the third quarter, S/4HANA current cloud backlog was up 60% (Non-IFRS) to €1.28 billion and up 58% (at constant currencies). S/4HANA cloud revenue growth accelerated as anticipated, up 46% to €276 million and up 46% (at constant currencies).

SAP S/4HANA Cloud represents SAP’s cloud offering for core ERP processes. It mainly includes cloud solutions for financial management, supply chain management, engineering and manufacturing, order management and asset management, as well as associated data management, analytics, development and integration capabilities.

‘RISE with SAP’, SAP’s holistic offering for business transformation in the cloud, is an important driver of S/4HANA Cloud and Business Technology Platform adoption.

____________________

1 The Q3 2021 results were also impacted by other effects. For details please refer to the disclosures on page 30 of this document.

Segment Performance Third Quarter 2021

SAP’s three reportable segments “Applications, Technology & Support”, “Qualtrics” and “Services” showed the following performance:

Applications, Technology & Support (AT&S)
Segment revenue in AT&S was up 5% at € 5.76 billion year over year and up 5% (at constant currencies). Segment performance was driven by strong double-digit cloud revenue growth in S/4HANA Cloud, Digital Supply Chain, Business Technology Platform, and Customer Experience, in particular ecommerce. Software licenses revenue decreased as anticipated due to strong adoption of ‘RISE with SAP’. Segment support revenues were up 1% year over year (at constant currencies) reflecting high retention rates coupled with the shift of some support revenue to cloud.

Qualtrics
Qualtrics segment revenue was up 38% to €233 million year over year, up 39% (at constant currencies). The continued strong growth was driven by robust renewal rates and expansions as customers increase their usage and acquire additional modules of Qualtrics to measure all four experience areas: customer, employee, product, and brand. L.L.Bean, State of Colorado Department of Personnel and Administration/Dept. of Health, Kyoto University, DoorDash, Dish Network Corporation, ServiceNow, Peloton, Zoom, and NASCAR, among others, selected Qualtrics Experience Management Solutions.

Services 
Services segment revenue was down 1% to €803 million year over year, down 1% (at constant currencies). While SAP continues to see solid growth in its Premium Engagement revenue on the basis of a very resilient business model, consulting revenue declined year over year.

Segment Results at a Glance

Segment Performance Third Quarter 2021

Applications, Technology & Support

Qualtrics

Services

€ million, unless otherwise stated

(Non-IFRS)

Actual

Currency

∆ in %

∆ in %

const. curr.

Actual

Currency

∆ in %

∆ in %

const. curr.

Actual

Currency

∆ in %

∆ in %

const. curr.

Cloud revenue

2,155

16

16

189

46

47

0

NA

NA

Segment revenue

5,762

5

5

233

38

39

803

–1

–1

Segment profit (loss)

2,406

3

4

14

71

68

201

5

5

Cloud gross margin (in %)

68.4

–0.9pp

–1.0pp

91.6

0.7pp

0.7pp

NM1)

NM1)

NM1)

Segment margin (in %)

41.8

–0.7pp

–0.6pp

5.9

1.1pp

1.0pp

25.0

1.3pp

1.5pp

1) NM = not meaningful

Regional Revenue Performance Third Quarter 2021

SAP had a strong cloud performance across all of its regions.

In the EMEA region, cloud and software revenue increased 8% and 7% (at constant currencies). Cloud revenue increased 29% and 28% (at constant currencies) with Germany, the UK and France being highlights.

In the Americas region, cloud and software revenue increased 6% and was up 6% (at constant currencies). Cloud revenue increased 14% and was up 14% (at constant currencies) with a robust performance in the U.S., CanadaBrazil and MexicoThe United States, SAP’s largest market, had another strong sequential acceleration in cloud revenue growth.

In the APJ region, cloud and software revenue increased 6% and 6% (at constant currencies). Cloud revenue increased 23% and 25% (at constant currencies) with JapanSingapore and South Korea being highlights.

Financial Results at a Glance

Third Quarter 2021

IFRS

Non-IFRS1)

€ million, unless otherwise stated

Q3 2021

Q3 2020

∆ in %

Q3 2021

Q3 2020

∆ in %

∆ in %
const.
curr.

Current cloud backlog2)

NA

NA

NA

8,171

6,599

24

22

Thereof SAP S/4HANA Current Cloud Backlog2)

NA

NA

NA

1,283

801

60

58

Cloud revenue

2,386

1,984

20

2,386

1,984

20

20

Thereof SAP S/4HANA Cloud revenue

276

189

46

276

189

46

46

Software licenses and support revenue

3,524

3,559

–1

3,524

3,559

–1

–1

Cloud and software revenue

5,910

5,544

7

5,910

5,544

7

6

Total revenue

6,845

6,535

5

6,845

6,535

5

5

Share of more predictable revenue (in %)

77

74

3pp

77

74

3pp

Operating profit (loss)

1,249

1,473

–15

2,102

2,069

2

2

Profit (loss) after tax

1,418

1,652

–14

2,129

2,098

1

Basic earnings per share (in €)

1.19

1.32

–10

1.74

1.70

2

Number of employees (FTE, September 30)

105,015

101,450

4

NA

NA

NA

NA

1) For a breakdown of the individual adjustments see table “Non-IFRS Adjustments by Functional Areas” in this Quarterly Statement.

2) As this is an order entry metric, there is no IFRS equivalent.

Due to rounding, numbers may not add up precisely.

Nine months ended September 2021

IFRS

Non-IFRS1)

€ million, unless otherwise stated

Q1–Q3

2021

Q1–Q3

2020

∆ in %

Q1–Q3

2021

Q1–Q3

2020

∆ in %

∆ in %
const. curr.

Current Cloud Backlog2)

NA

NA

NA

8,171

6,599

24

22

Thereof SAP S/4HANA Current Cloud Backlog2)

NA

NA

NA

1,283

801

60

58

Cloud revenue

6,806

6,039

13

6,806

6,041

13

17

Thereof SAP S/4HANA Cloud revenue

761

550

38

761

550

38

42

Software licenses and support revenue

10,281

10,610

–3

10,281

10,610

–3

–1

Cloud and software revenue

17,088

16,649

3

17,088

16,651

3

6

Total revenue

19,861

19,800

0

19,861

19,801

0

3

Share of more predictable revenue (in %)

77

74

3pp

77

74

3pp

Operating profit (loss)

3,193

3,967

–20

5,762

5,515

4

8

Profit (loss) after tax

3,936

3,348

18

6,063

4,507

35

Basic earnings per share (in €)

3.22

2.74

18

4.88

3.71

31

Number of employees (FTE, September 30)

105,015

101,450

4

NA

NA

NA

NA

1) For a breakdown of the individual adjustments see table “Non-IFRS Adjustments by Functional Areas” in this Quarterly Statement.

2) As this is an order entry metric, there is no IFRS equivalent.

Due to rounding, numbers may not add up precisely.

Business Outlook 2021

SAP is raising its full-year 2021 outlook, reflecting the strong business performance which is expected to continue to accelerate cloud revenue growth. The Company continues to expect software licenses revenue to decline for the full year as more customers turn to the ‘RISE with SAP’ subscription offering for their mission-critical core processes. This outlook also continues to assume the COVID-19 crisis will continue to recede as vaccine programs roll out globally.

SAP now expects:

  • €9.4 – 9.6 billion Non-IFRS cloud revenue at constant currencies (2020: €8.09 billion), up 16% to 19% at constant currencies. The previous range was €9.3 – 9.5 billion at constant currencies.
  • €23.8 – 24.2 billion Non-IFRS cloud and software revenue at constant currencies (2020: €23.23 billion), up 2% to 4% at constant currencies. The previous range was €23.6 – 24.0 billion at constant currencies.
  • €8.1 – 8.3 billion Non-IFRS operating profit at constant currencies (2020: €8.29 billion), down 2% to flat at constant currencies. The previous range was €7.95 – 8.25 billion at constant currencies.

SAP continues to expect the share of more predictable revenue to reach approximately 75% (2020: 72%).

SAP continues to expect operating cash flow of approximately €6.0 billion (2020 €7.2 billion) and free cash flow above €4.5 billion (2020 €6.0 billion).

SAP now expects a full-year 2021 effective tax rate (IFRS) of 21.0% to 22.0% (previously: 21.5% to 23.0%) and an effective tax rate (non-IFRS) of 20.0% to 21.0% (previously: 20.0% to 21.5%).

While SAP’s full-year 2021 business outlook is at constant currencies, actual currency reported figures are expected to be impacted by currency exchange rate fluctuations as the Company progresses through the year. See the table below for the Q4 and FY 2021 expected currency impacts.

     Expected Currency Impact Based on September 2021 Level for the Rest of the Year (Non-IFRS)     

In percentage points

Q4

FY

Cloud revenue growth

0pp to 2pp

-4pp to -2pp

Cloud and software revenue growth                                                  

0pp to 2pp

-3pp to -1pp

Operating profit growth

0pp to 2pp

-3pp to -1pp

SAP is focusing on three non-financial indicators: customer loyalty, employee engagement, and carbon emissions.

In 2021 SAP continues to aim for:

  • a Customer Net Promoter Score of 5 to 10 (2020: 4)
  • an Employee Engagement Index in a range of 84% to 86% (2020: 86%)
  • Carbon emissions in a range of 90 to 110 kt (2020: 135 kt)

The full Q3 2021 Quarterly Statement can be downloaded from http://www.sap.com/investors/sap-2021-q3-statement.

Additional Information

This Quarterly Statement and all information therein is unaudited.

Definition of key growth metrics
Current cloud backlog (CCB) is the contractually committed cloud revenue we expect to recognize over the upcoming 12 months as of a specific key date. Thus, it is a subcomponent of our overall remaining performance obligations following IFRS 15.120. For CCB, we take into consideration committed deals only. CCB can be regarded as a lower boundary for cloud revenue to be recognized over the next 12 months, as it excludes utilization-based models without pre-commitments and committed deals, both new and renewal, closed after the key date. For our committed cloud business, we believe the CCB is a valuable indicator of go-to-market success, as it reflects both new contracts closed as well as existing contracts renewed.

Share of more predictable revenue is the total of cloud revenue and software support revenue as a percentage of total revenue.

For explanations on other key growth metrics please refer to the performance management section of SAP’s Integrated Report 2020 and SAP’s Half-Year Report 2021, which can be found at www.sap.com/investor.

Webcast
SAP senior management will host a financial analyst conference call on Thursday, October 21, at 2:00 PM (CEST) / 1:00 PM (BST) / 8:00 AM (Eastern) / 5:00 AM (Pacific). The conference will be webcast live on the Company’s website at www.sap.com/investor and will be available for replay. Supplementary financial information pertaining to the third quarter results can be found at www.sap.com/investor.

About SAP
SAP’s strategy is to help every business run as an intelligent enterprise. As a market leader in enterprise application software, we help companies of all sizes and in all industries run at their best. Our machine learning, Internet of Things (IoT), and advanced analytics technologies help turn customers’ businesses into intelligent enterprises. SAP helps to give people and organizations deep business insight and fosters collaboration that helps them stay ahead of their competition. We simplify technology for companies so they can consume our software the way they want – without disruption. Our end-to-end suite of applications and services enables business and public customers across 25 industries globally to operate profitably, adapt continuously, and make a difference. With a global network of customers, partners, employees, and thought leaders, SAP helps the world run better and improve people’s lives. For more information, visit http://www.sap.com.

For customers interested in learning more about SAP products:

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biostimulants-market-worth-$5.6-billion-by-2026-–-exclusive-report-by-marketsandmarkets

Biostimulants Market worth $5.6 billion by 2026 – Exclusive Report by MarketsandMarkets™

 

According to the new market research report “Biostimulants Market by Active Ingredients (Humic Substances, Seaweed Extracts, Microbial Amendments, Amino Acids), Mode of Application (Folier, Soil Treatment, Seed Treatment), Form (Liquid, and Dry), Crop Type, & by Region – Global Forecast to 2026”, published by MarketsandMarkets™, the market is estimated at USD 3.2 billion in 2021; it is projected to grow at a CAGR of 12.1% to reach USD 5.6 billion by 2026. Biostimulants aid the efficiency of the plant’s metabolism, increase a plant’s natural tolerance to stressors like pests and disease and propel faster recovery from stressful events, such as bad weather. Presently agriculture practices have advanced in the last decade to become not only more sustainable, but climate-wise too. To further drive the trends in sustainable agriculture software-as-a-service solutions for orchard management, yield monitoring and estimation and the growth of farm management integrated platforms are being rapidly developed. With rapid growth of the integrated management practices the use of biostimulants for farming is estimated to grow.

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The amino acids sub-segment is estimated to account for the largest market share in the by active ingredient segment for the biostimulants market.

For the production of biostimulants, amino acids can be obtained through chemical synthesis of plant proteins and by enzymatic hydrolysis of animal proteins. Amino acids are the monomers of the protein chain being involved in many plant physiological processes, such as metabolic and nutrient transport functions. Plants have the ability to produce amino acids, but the process of synthesis is tedious and slow, which can be overcome by external application of amino acids. Thus their larger use is estimated to account for their higher market shares.

By mode of application, the seed treatment sub-segment is estimated to account for the fastest growth in the biostimulants market.

Application of biostimulants as seed treatment aids to reduce environmental stress at the time of sowing, and improving yield, all starting from seed germination. These benefits of seed treatment are driving their growth in the biostimulants market.

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The liquid sub-segment by form is estimated to account for the largest market share of the biostimulants market over the forecast period.

Liquid biostimulants are manufactured on large industrial scale levels and also can be developed according to the increasing demands without further addition to manufacturing costs. Ease of application, and transports are some of the driving factors for their growth in the biostimulants market. Major companies that manufacture liquid-based biostimulants include UPL (India), Koppert (Netherlands), BASF SE (Germany).

The cereals & grains sub-segment is estimated to observe the fastest market growth in the biostimulants market during the forecast period.

The global production of cereals and grains is ever-increasing and simultaneously with the increase in population and per capita income of the countries such as IndiaChinaJapan the Asian region the populations there are increasingly becoming aware of agricultural sustainability and consumption of nutritious and organically produced food, thus their market is projected to grow speedily.

Europe is estimated to be the largest market.

The EU has boosted many biostimulant companies in Europe who have been expanding their global network to reach the untapped market. The region has also launched the “European Green Deal” initiative under which aims to expand the use of sustainable practices such as precision agriculture, organic farming, agroecology, agro-forestry and stricter animal welfare standards. Further the new Farm to Fork Strategy aims at reducing the environmental and climate footprint of the EU food system, strengthening its resilience, ensuring food security, facilitating the transition towards competitive sustainability from farm to fork and making use of new business opportunities.

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Key Players:

Key players in this market include BASF SE (Germany), UPL (India), Valagro S.p.A (Italy), Gowan Group (US), FMC Corporation (US), ILSA S.p.A (Italy), Rallis India Limited (India), and Haifa Group (Israel). These players in this market are focusing on increasing their presence through agreements and collaborations. These companies have a strong presence in North AmericaAsia Pacific and Europe. They also have manufacturing facilities along with strong distribution networks across these regions.

Related Reports:

Biofertilizers Market by Form (Liquid, Carrier-Based), Mode of Application (Soil Treatment, Seed Treatment), Type (Nitrogen-fixing, Phosphate solubilizing & Mobilizing, Potash Solubilizing & Mobilizing), Crop Type, and Region – Global Forecast to 2026

https://www.marketsandmarkets.com/Market-Reports/compound-biofertilizers-customized-fertilizers-market-856.html

Biological Seed Treatment Market by Type (Microbials and Botanicals), Crop (Corn, Wheat, Soybean, Cotton, Sunflower, and Vegetable Crops), Function (Seed Protection and Seed Enhancement), and Region – Global Forecast to 2025

https://www.marketsandmarkets.com/Market-Reports/biological-seed-treatment-market-162422288.html

Browse Adjacent Reports: Agriculture Industry Market Research Reports & Consulting

electric-vehicle-fluids-market-worth-$8,644-million-by-2030-–-exclusive-report-by-marketsandmarkets

Electric Vehicle Fluids Market worth $8,644 million by 2030 – Exclusive Report by MarketsandMarkets™

 

According to the new market research report “Electric Vehicle Fluids Market by Product Type (Engine oil, Coolants, Transmission Fluids, and Greases), Vehicle type (On-highway vehicle, Off-highway vehicle), Propulsion Type (Hybrid EV, Battery EV), Fill Type, and Region – Global Forecast to 2030″, published by MarketsandMarkets™, the Electric Vehicle Fluids market is projected to reach USD 8,644 million by 2030, at a CAGR of 31.2% from USD 749 million in 2021. Increasing demand for electric vehicles is the major driver of the Electric Vehicle Fluids market. A specific fluid requirement in EVs is also one of the other driving factors for electric vehicle fluids as an ICE’s motor differs greatly from EV motors and thus, needs fluids, which cater to totally different functions than that in the n the ICEs. With the growing concern over tailpipe emissions and their harmful effects on the environment, stringent standards for carbon dioxide and pollutants such as nitrogen oxide, unburned hydrocarbons, and particulates have been put in place, resulting in hybrid and full EVs no longer being seen as uncommon, but the standard for the future.

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Browse in-depth TOC on “Electric Vehicle Fluids Market”
304 – Tables
58 – Figures
276 – Pages

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Electric vehicle fluids are substances or materials, which are used for lubricating and improving the thermal performance of electric vehicles. They are manufactured using base oils and additives with respect to different applications. They perform different functions in electric vehicles, such as regulating the battery and other electronic components, temperature, and noise and vibration reduction. The most commonly used electric vehicle fluids include engine oil, coolants, transmission fluids, greases, and brake fluids, among others.

The hybrid EV segment accounted for the larger market share in 2020; however, the Battery EV segment is expected to account for the larger share by 2030. Europe is the largest electric vehicle fluids market, followed by APAC and North America. Stringent mandates by governments are a major opportunity for electric vehicle fluids manufacturers. Emission of carbon from ICE vehicles is now treated as a significant threat by governments in many countries. Thus, the gradual tightening of fuel economy and tailpipe CO2 standards have augmented the role of EVs to meet the standards. Government initiatives pertaining to EVs, such as investment in infrastructure, tax rebates, and others, also act as a major opportunity for the growth of the electric vehicles and the electric vehicle fluids market.

The hybrid EV segment accounted for the larger market share in 2020 during the forecast period”

Battery EVs do not require a gasoline engine, which requires fuel and routine maintenance. Though battery EVs require less EV fluids than the hybrid ones, the large-scale production of battery EVs in comparison to Hybrid EVs is expected to lead to the demand for EV fluids during the forecast period. The prices of batteries for EVs are decreasing due to the advancements in technology, which are expected to result in the reduced overall prices of BEVs

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Europe accounted for the largest market share in Electric Vehicles Fluid market in 2020, in terms of value.”

Europe led the electric vehicle fluids market with a share of 44.7%, in terms of value, in 2020 due to high prices and the high number of hybrid vehicles produced and sold in Europe, which requires more electric vehicle fluids than battery vehicle fluids. The high price of engine oil in comparison to other fluids, which are used in hybrid electric vehicles, is one of the major reasons for the largest market share of Europe in 2020. APAC is expected to be the fastest-growing market by 2030, mainly due to the expected high demand for electric vehicles in the region and the higher number of electric vehicles available for service fill during the forecast period. The High demand for electric vehicles in Europe due to government regulations and investments, subsidies, tax rebates, and others are supporting the growth of electric vehicle fluids in the region.

The major electric vehicle fluids market in Europe includes GermanyFrance, UK, ItalyRussiaNetherlandsNorway, and Sweden among others. Europe has stringent emission regulation standards. The governments of the European countries are providing significant incentives to promote electric vehicles. As a result, the demand for electric vehicles has increased significantly in the region. The region is home to manufacturers such as Renault, Audi, BMW, and Mercedes. Europe has set a very ambitious goal of reducing 80% CO2 emissions by 2050 and has created a roadmap for the same. The governments of various countries in Europe are subsidizing electric vehicle infrastructure, and the focus is expected to continue to be on electric vehicles in the long run.

The electric vehicle fluids market has a high degree of competition. The key players in this market are Royal Dutch Shell plc (Netherlands), ExxonMobil Corporation (US), BP plc. (UK), TotalEnergies SE (France), FUCHS Petrolub AG (Germany), Petronas (Malaysia), ENEOS Corporation (Japan), Repsol S.A. (Spain), Valvoline Inc. (US), and PTT (Thailand), among others. The leading players are focusing on various strategic initiatives such as new product launches and expansions to retain their position in the market.

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Browse Adjacent Markets: Bulk Chemicals and Inorganics Market Research Reports & Consulting

Related Reports:

Functional Fluids Market by Type (Process Oil, Hydraulic & Transmission Fluid, Metal Working Fluid, Heat Transfer Fluid, and Others) & by Application (Industrial, Construction, Transportation, and Others) – Global Trends and Forecast to 2020

ey-smart-reviewer-helps-accelerate-and-optimize-approval-of-marketing-materials-in-the-life-sciences-industry

EY Smart Reviewer helps accelerate and optimize approval of marketing materials in the life sciences industry

 

EY today announces the launch of EY Smart Reviewer, a new technology-driven solution for the life sciences industry. It leverages artificial intelligence (AI) and natural language processing to help accelerate and improve the process to review materials used to market pharmaceutical and medical device products.

Life sciences is a highly regulated industry with strict controls guiding the marketing of products to doctors and patients. In order to capture a competitive advantage in the market, product marketing materials must be precisely targeted and rapidly developed. The industry’s current Medical, Legal, Regulatory Review (MLR) process, which helps to ensure marketing materials comply with regulatory guidelines, is often slow, inconsistent and requires significant manual review times for documents. There are also significant risks if off-label or other non-compliant messaging are hastily approved. Non-compliance with regulations can result in millions of dollars in regulatory fines, as well as delay actively promoting essential new therapies in the market.

The EY Smart Reviewer solution makes it possible for pharmaceutical and medical technology companies to automate the MLR process and significantly shorten review and approval timelines for modular content, thus driving faster speed to market for essential medicines. The solution makes the process more efficient. It increases speed by eliminating key manual tasks and automating the remaining tasks and it reduces costs by freeing up high-value people to focus on higher value-adding omnichannel activities, while lowering risk of regulatory fines. It also makes the MLR process more reliable by leveraging AI and machine learning to improve compliance by increasing objectivity and consistency of reviews. Finally, it increases the use of intelligence because the AI engine is consistently learning and improving, prioritizing actions and applying the leading practices.

Twelve machine learning modules make up the solution, with new modules being developed and added over time. Currently available in English, EY Smart Reviewer will also be available in French, German, Spanish, Italian, Japanese and Chinese by early 2022.

Nick Cernese, EY Global Solution Sponsor for EY Smart Reviewer, says:

“There is an exponential need for approved online medical content, accelerated by the COVID-19 pandemic. This surge will create a need for rapid content creation and approval in the next several years. With EY Smart Reviewer, teams are making sure the Medical, Legal, Regulatory Review process is more efficient, with materials moving through the review lifecycle faster, freeing up time for those involved in the process to focus on more strategic tasks. It’s also more reliable and more intelligent for our clients. Our teams envision EY Smart Reviewer being tailored for adoption by other, highly-regulated industries.”

Arda Ural, EY Americas Health Sciences and Wellness Leader, says:

“EY Smart Reviewer is a proven application of AI and machine learning to help automate one of the most onerous processes of the life sciences industry: the review of promotional materials. The solution helps shorten review time without compromising high quality standards. At a leading pharma company, EY Smart Reviewer reduced cycle times across the end-to-end process by 51%. The solution’s capabilities can help enable biopharma and medtech companies to accelerate the approval of their products’ promotional materials so that patients can see and feel the therapeutic benefits sooner.”

matcha-tea-powder-market-to-cross-us$-24.8-bn-by-2031,-growing-consumer-inclination-toward-natural-and-herbal-ingredients-drives-sales-opportunities,-says-tmr-report

Matcha Tea Powder Market to cross US$ 24.8 Bn by 2031, Growing Consumer Inclination toward Natural and Herbal Ingredients Drives Sales Opportunities, Says TMR Report

 

Matcha Tea Powder Market: Overview

The popularity of matcha tea powder is growing across the globe owing to its many health benefits, including antimicrobial, antiviral, and cardioprotective properties. Thus, there is notable growth in the demand for the product, which is anticipated to boost the matcha tea powder market in the upcoming years.

According to the analysts at Transparency Market Research (TMR), the global matcha tea powder market is expected to grow at a CAGR of 9.4% in the forecast period of 2021 to 2031.

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Matcha Tea Powder Market: Key Findings

  • Manufacturers Focus on Educating Consumers on Right Procedure for Product Consumption

Using incorrect procedure to consume matcha tea power may lead to several adverse effects such as upset stomach, anemia, insomnia, and diarrhea. Therefore, key companies in the global matcha tea powder market are growing efforts to educate people on correct consumption procedure.

  • Increasing Number of Start-ups Intensifies Market Competition

There is a significant growth in the competition levels of the market due to the entry of new players. Several start-ups are adopting innovative strategies to expand their businesses. For instance, many players are strengthening their online presence and offering yearly subscription discounts and beginner monthly boxes to their customers.

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Matcha Tea Powder Market: Growth Boosters

  • Several start-ups in the matcha tea powder market are growing focus on sourcing their products from Japan.
  • Matcha tea has anti-oxidative properties. As a result, its consumption can assist in stabilizing harmful free radicals, which may damage cells as well as cause severe health conditions
  • In comparison to majority of conventional Japanese tea types, matcha is considered to have high content of vitamin A and amino acids, which prevents muscle damage, fat burning, and promotes lean muscle growth. On the back of these advantages, the demand for matcha tea powder is increasing across major parts of the globe.
  • Several restaurants and cafes are increasing the use of high quality and pure Japanese matcha tea powder. One of the key reasons promoting this growth is the ability of the product to allow for adjustments in sweetness, flavor, and intensity of different seasonal matcha beverages.
  • In recent years, several cafes and coffee houses around the world are increasing their efforts to upgrade their beverages with cheese and matcha, and customizing drinks as per consumer demand. Besides, there is significant growth in the popularity of whole matcha waffle cones and matcha latte.
  • In the hotel, restaurant, café (HoReCa) sector, there is a surge in the popularity of Instagram-friendly mushroom and matcha tea, and butterfly pea matcha tea
  • Matcha tea powder manufacturers are experiencing increased sales opportunities owing to growing preference of major population for matcha tea for weight management activities
  • Increased use of matcha tea in varied forms such as beverage, cosmetic, food additive, and home ingredients to improve overall health is anticipated to create prominent demand opportunities in the matcha tea powder market in the near future
  • Many manufacturers are focused on the use of clean labels, which specify the ingredients used in their products

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Matcha Tea Powder Market: Key Players

The report profiles some of key players operating in the global matcha tea powder market. Thus, the research document delivers all key information including company overview, financial overview, product portfolio, business strategies, and recent developments of all players profiled in the market report.

Some of the key players in the matcha tea powder market are:

  • Yamamotoyama Co. Ltd.
  • Associated British Foods plc
  • Mizuba Tea Co.
  • Encha

Global Matcha Tea Powder Market: Segmentation

Matcha Tea Powder Market, by Product Grade

  • Ceremony
  • Culinary

Matcha Tea Powder Market, by Packaging Style

  • Loose Tea
  • Packaged Tea
    • Tea Bags
    • Boxes & Pouches
    • Others

Matcha Tea Powder Market, by End Use

  • Residential
  • Commercial
    • Hotels
    • Restaurants
    • Offices
    • Cafes
    • Others
  • Industrial
    • Food & Beverage
    • Cosmetic
    • Others

Matcha Tea Powder Market, by Pricing

  • Low (Below US$ 5)
  • Medium (US$ 5 – $ 25)
  • High (More than $ 25)

Matcha Tea Powder Market, by Distribution Channel

  • Online
    • Company Owned Website
    • Third Party Website
  • Offline
    • Hypermarkets/Supermarkets
    • Specialty Stores
    • Others

Matcha Tea Powder Market, by Region

  • North America
  • Europe
  • Asia Pacific (APAC)
  • Middle East & Africa (MEA)
  • South America

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53%-of-companies-are-left-exposed-to-supply-chain-attacks-–-acronis-cyber-readiness-report-2021-reveals-critical-security-gaps

53% of companies are left exposed to supply chain attacks – Acronis Cyber Readiness Report 2021 reveals critical security gaps

 

Acronis, the global leader in cyber protection, has released its annual Cyber Readiness Report this week, providing a comprehensive overview of the modern cybersecurity landscape and the key pain points faced by businesses and remote employees worldwide amid the global pandemic. Acronis’ research from last year revealed more than 80% of global companies admitted they were not prepared to transition to remote work – exposing key vulnerabilities businesses must quickly plan and implement solutions for.

Based on findings from this year’s independent survey of 3,600 IT managers and remote employees at small and medium-sized companies in 18 countries across the globe, the report states that 53% of global companies have a false sense of security when it comes to supply chain attacks. Despite the globally recognized attacks on trusted software vendors, like Kaseya or SolarWinds, over half of IT leaders believe that using “known, trusted software” is sufficient protection – making them an easy target.

Attacks growing in volume and sophistication

Three out of 10 companies report facing a cyberattack at least once a day – similar to last year; but this year, only 20% of companies reported not getting attacked – a drop from 32% in 2020, meaning that the attacks are increasing in volume.

  • The most common attack types reached record-high levels this year, including phishing attacks – that continue to grow in frequency, and are now the top attack type at 58%. Malware attacks are also increasing in 2021: detected by 36.5% of companies this year – an increase from 22.2% in 2020.
  • However, this year was the year of phishing: the demand for URL filtering solutions has grown 10 times since 2020 – with 20% of global companies now recognizing the danger phishing presents to their business.
  • Despite growing awareness of multi-factor authentication (MFA), nearly half of IT managers (47%) are not using MFA solutions – leaving their businesses exposed to phishing attacks. According to these findings, they either see no value in it or consider it too complex to be implemented.

In response, organizations worldwide have begun to prepare for the growing threats – but for every step companies are taking, cybercriminals have already taken three.

  • The demand for antivirus solutions has grown by 30% – from 43% last year to 73.3% in 2021. However, companies are just discovering that standalone antivirus solutions no longer work against modern threats: we saw the demand for an integrated backup/disaster recovery with antivirus solutions more than double – from 19% in 2020 to 47.9% this year.
  • Demand for vulnerability assessments and patch management grew significantly: from 26% in 2020 to 45% this year. This can be attributed, in part, to the increased volume of vulnerabilities exposed this year in critical and in-core software deployments such as Microsoft Exchange servers, Chrome browsers or Apache webservers.
  • Not surprisingly, the demand for better and more secure remote monitoring and management tools grew over three times – 35.7% this year, up from 10% in 2020. With remote work now being recognized as a long-term default format of work, it’s more important that ever for IT managers to be able to monitor and manage a wide range of remote devices.

In last year’s Acronis Cyber Readiness Report 2020, we saw an increase in adoption of new services – especially SaaS and Cloud Computing services – and this year, companies continue to adopt new solutions. However, this has increased the overall complexity of IT environments, which most likely will cause additional breaches and unplanned downtime in the future.

“The cybercrime industry proved to be a well-oiled machine this year – relying on proven attack techniques, like phishing, malware, DDoS and others. Threat actors are increasingly expanding their targets, while organizations are held back by the growing complexity of IT infrastructure,” says Candid Wuest, Acronis VP of Cyber Protection Research. “Only a small number of companies have taken the time to modernize their IT stack with integrated data protection and cybersecurity. The threat landscape will continue to grow and  automation is the only path to greater security, lower costs, improved efficiency and reduced risks.”

Remote employees make the most attractive targets

These Acronis findings and external research clearly illustrate why organizations need a cyber protection solution that reduces complexity and improves security to support remote work environments, and that this solution must be cost-effective in order to address the increased scale of the remote workforce.

  • One in four remote employees reported struggling with the lack of IT support as one of the key challenges they faced this year. The top-three tech challenges identified by remote employees globally: Wi-Fi onnectivity, using a VPN and other security measures, lack of IT support.
  • One in four remote employees are not using multi-factor authentication – making them easy phishing targets, with phishing being the most common attack type in 2021.
  • On average, one in five remote employees gets heavily targeted by phishing attacks, receiving well over 20 phishing emails per month – with 71% of respondents confirming being targeted by it each month. Learning to identify such attacks through cybersecurity awareness training is crucial in keeping organizations protected, and personal assets as well.
  • We have seen attackers aggressively expanding their target pool – it is no longer just Microsoft Windows OS based workloads – where users reported a spike in attacks against Linux, MacOS, Android and iOS devices as well. Attackers are also going after virtualized environments more often.

Unfortunately, cybercriminals don’t need to be tech-savvy to create chaos anymore – take malware for example. Cybercriminal gangs have further expanded their malware-as-a-service model, that provides step-by-step guides on how to make a profit out of compromising targets.

Yet despite the growing dangers for employees, remote work is here to stay; people will continue to work and hire remotely, and that’s the reality most IT teams still need to get ready for: finding a solution to hardware shortages, increased complexity, an increased need for IT support and better cybersecurity solutions. This is an existential crisis companies must prepare for now – the potential costs for not doing so are just too great.

Both the global and regional reports available for download via Acronis blog. For more information on any findings or trends featured in the report, reach us via email at: [email protected].

Platform with deeper industry insights

Remote work is here to stay, and so are increasingly sophisticated cyberattacks. So it’s up to both the organization and the individual to follow the best cyber protection practices available.

If you are keen to learn more about cybersecurity pain points and available solutions for businesses, don’t miss the chance to register for the Acronis #CyberFit Summit World Tour 2021, kicking off in Miami, Florida on October 25 with a hybrid format, including in-person and virtual. Register now in order to:

  • Attend result-focused virtual sessions for free and hear world-class experts explain strategies and deployment options for cyber protection
  • Enhance your MSP business’s cyber protection capabilities with advice from top IT channel, cybersecurity, and industry experts
  • Hear exclusive case studies of successful, profitable and scaling MSPs and MSSPs
  • Learn how to grow your business with cybersecurity-forward services
  • Join hands-on, interactive workshops; insightful panels and breakouts; and inspirational keynotes – while enjoying numerous IT channel networking opportunities.
corporate-leaders-join-with-dr.-jill-biden-and-the-barbara-bush-foundation-to-address-adult-literacy-challenges

Corporate Leaders Join with Dr. Jill Biden and the Barbara Bush Foundation to Address Adult Literacy Challenges

 

At today’s National Summit on Adult Literacy hosted by the Barbara Bush Foundation for Family Literacy, corporate leaders from prominent businesses joined First Lady of the United States Jill Biden to address a growing challenge in America that effects workforce readiness, pay levels and equity: the inability to read.

In her remarks, Dr. Biden said, “Reading is the foundation of all education. It affects every aspect of our society.”

Echoing similar sentiments, panelists from The Business Roundtable, Dollar General, Humana, Intel and Microsoft shared their views on the importance of improving adult literacy rates.

“Literacy is a gateway to economic prosperity regardless of background, experience or zip code,” said Dane Linn, Vice President, Immigration, Workforce & Education, The Business Roundtable. “While we are experiencing a surge in employment opportunities, there are many Americans who lost their jobs during the pandemic who are at a disadvantage in securing a new job due to literacy requirements. A national strategy that invests in adult literacy, including digital literacy, is key to reducing our country’s wealth gap.”

“Whether you look at literacy and education from a workforce, economic empowerment or personal growth and development lens, the impact and opportunities it affords are tremendous,” said Denine Torr, Vice President, Corporate Social Responsibility and Philanthropy, Dollar General. “The value of education is clear. The challenge is how to create access to quality educational instruction for individuals of all ages. At Dollar General, we are excited to be engaging in a national dialogue with other corporate, nonprofit and government leaders to explore ways to expand and strengthen educational opportunities, in addition to our continued efforts to support literacy through the Dollar General Literacy Foundation.”

“Limited health literacy is a social determinant of health that affects people of all racial/ethnic groups, ages, education levels and socioeconomic status,” said Dr. Nwando Olayiwola, Chief Health Equity Officer, Humana. “However, limited health literacy is disproportionately problematic for people from lower income, non-English speaking and racial/ethnic minority populations. Improving health literacy can improve both financial and clinical outcomes and result in improved patient empowerment.”

“At Intel our purpose is to create world-changing technology that enriches the life of every person on the planet. Inclusivity and digital readiness are central to that mission. We are committed to working with communities, policy makers, non-profits and our fellow corporate partners to create inclusive learning experiences leveraging our innovative technologies — such as artificial intelligence, 5G, augmented or virtual reality — to unleash the potential in others. By 2030, Intel plans to partner with governments in 30 countries and 30,000 institutions worldwide and is committed to empower more than 30 million people with AI skills training. This includes our commitment to support broadband access in underserved communities, lead in development of innovative digital devices and develop and proliferate digital skills curriculum. We are proud to be a part of the national conversation on literacy and to lend our passion and expertise to support this important and critical initiative,” said Elizabeth Haines McGee, Director, Innovation & Engagement, Intel.

“Ensuring everyone can thrive in today’s economy comes from having access to digital learning and skill development. We remain committed to advancing digital equity so everyone has the opportunity to learn new digital skills for better-paying jobs. As the Barbara Bush Foundation for Family Literacy convenes an important conversation on adult literacy in the United States, we are honored to participate in today’s summit and share our learnings,” said Allyson Knox, Senior Director of Education Policy, Microsoft.