Head-up Display Market worth $4.6 billion by 2025 – Exclusive Report by MarketsandMarkets™

CHICAGO, Jan. 11, 2021 /PRNewswire/ — According to the new market research report «Head-up Display Market with COVID-19 Impact Analysis by Component (Video Generator, Projector/Projection Unit, Display Unit, Software), Type (Conventional HUD, AR-Based HUD), Application (Aviation, Automotive), and Geography – Global Forecast to 2025″, published by MarketsandMarkets™, the Head-up Display Market is projected to grow from USD 1.3 billion in 2020 to <span…

CHICAGO, Jan. 11, 2021 /PRNewswire/ — According to the new market research report «Head-up Display Market with COVID-19 Impact Analysis by Component (Video Generator, Projector/Projection Unit, Display Unit, Software), Type (Conventional HUD, AR-Based HUD), Application (Aviation, Automotive), and Geography – Global Forecast to 2025″, published by MarketsandMarkets™, the Head-up Display Market is projected to grow from USD 1.3 billion in 2020 to USD 4.6 billion by 2025; it is expected to grow at a CAGR of 28.5% from 2020 to 2025. The increase in awareness about passenger and vehicle safety, the convenience offered by a combination of satellite navigation technology & HUD system, increasing demand for connected vehicles, increasing demand for technologically advanced HUDs, and growth of the augmented reality market are the key factors driving the head-up display market growth.

MarketsandMarkets

Ask for PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=684

Projector units to lead the head-up display component market during the forecast period

The projector is a major part of HUD as it projects the information on a transparent windshield. In early HUDs, refraction was used for projecting images in the projector, whereas in modern HUDs, reflection is used to project the image. Projection units use cathode ray tubes, LEDs, or liquid crystal displays to project the image. Projection units can be adjusted either below or above combiners. Projector projects image through the laser beam. Projector units are expected to lead the overall head-up display market.

Market for AR-based head-up displays projected to grow at a higher CAGR during the forecast period

Technological advancements, as well as increasing consumer demand for advanced safety functions, are expected to drive the AR-based HUD market. Monitoring multiple in-vehicle displays while driving can trigger mishaps on the road. To reduce cognitive workload while driving, AR-based HUD systems can reduce distraction and make driving safer. Driver information, assistance, and attention management can be viewed, along with real-time traffic conditions, on the windshield in the driver’s line of sight.

Browse in-depth TOC on «Head-up Display Market«

128 – Tables
64 – Figures
190 – Pages

Inquiry Before Buying: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=684

APAC to lead the head-up display market during the forecast period

APAC is expected to exhibit strong growth in the next few years owing to the significant contribution of Japan, China, and South Korea in the growth of HUD market. The strong growth of the automotive application in China and Japan is projected to boost the automotive market in the APAC region.

Major vendors in the head-up display market include Bosch (Germany), Nippon Seiki Co., Ltd. (Japan), Continental AG (Germany), Visteon Corporation (US), Denso Corporation (Japan), Panasonic Corporation (Japan), BAE Systems (UK), Pioneer Corporation (Japan), Yazaki (Japan), and Garmin (US).

Related Reports:

Augmented Reality Market by Offering (Hardware (Sensor, Displays & Projectors, Cameras), Software), Device Type (Head-mounted, Head-up), Application (Enterprise, Consumer, Commercial, Healthcare, Automotive), and Region – Global Forecast to 2024

Virtual Reality Market with COVID-19 Impact Analysis by Offering (Hardware and Software), Technology, Device Type (Head-Mounted Display, Gesture-Tracking Device), Application (Consumer, Commercial, Enterprise, Healthcare) and Geography – Global Forecast to 2025

About MarketsandMarkets™ 

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the «Growth Engagement Model – GEM». The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write «Attack, avoid and defend» strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, «Knowledge Store» connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/head-up-display-hud-market.asp 
Visit Our Web Site: https://www.marketsandmarkets.com
Content Source:  https://www.marketsandmarkets.com/PressReleases/head-up-display.asp 

Logo: https://mma.prnewswire.com/media/660509/MarketsandMarkets_Logo.jpg

FIA Smart Driving Challenge to Hong Kong

STOCKHOLM, Jan. 11, 2021 /PRNewswire/ — During January to February this year Hong Kong Automobile Association will run its own FIA Smart Driving Challenge. The competition will be launched in cooperation with the automotive community in Hong Kong to engage, inspire, and encourage everyday motorist to drive safer and more climate efficient.

The «FIA HKAA Smart Driving Challenge Hong Kong 2021» will be presented by CHALLENGER Auto Services and will…

STOCKHOLM, Jan. 11, 2021 /PRNewswire/ — During January to February this year Hong Kong Automobile Association will run its own FIA Smart Driving Challenge. The competition will be launched in cooperation with the automotive community in Hong Kong to engage, inspire, and encourage everyday motorist to drive safer and more climate efficient.

The «FIA HKAA Smart Driving Challenge Hong Kong 2021» will be presented by CHALLENGER Auto Services and will connect all parts of the automotive and mobility community – including racing stars, car clubs, and everyday drivers – in a join mission to make driving safe, sustainable, fun and accessible to everyone.

This is the first competition ever in smart driving in Hong Kong. The challenge invites all car drivers with a valid driving license, and all types of cars (electric, hybrid or fuel) can be used during the competition.

«We’re excited to run this engaging concept and innovative competition in Hong Kong. The entertaining app challenge makes participants aware of their driving habits in a fun way and promotes the greater purpose of safe and sustainable mobility in the community. We look forward to executing a successful event and working with FIA to promote the innovative platform.» – Says Dr. Ringo Lee, President, Hong Kong Automobile Association

The FIA Smart Driving Challenge is an initiative by FIA in conjunction with Greater Than, which provides the underlying AI technology Enerfy and the FIA Smart Driving Challenge app that measure participants ability to drive smartly. Enerfy uses Artificial Intelligence (AI) to evaluate driving patterns in real-time during the heats and instantly identifies the level of safely, sustainably and smartly driving per each participant.

«Running a regionally based initiative like this in Hong Kong is very exciting. Hong Kong is a new market for us, and the challenge can contribute to a tremendous impact on the matter of decreasing CO2 emission and increased road safety. We’re thrilled to make it happen.» – Says Johan Forseke, Head of Southeast Asia, Greater Than

About FIA Smart Driving Challenge

The FIA Smart Driving Challenge (SDC) is a worldwide initiative that rewards smart, safe and eco-friendly driving. The challenge was created by the FIA to encourage and challenge everyday motorists to adopt smarter, cleaner and safer driving behaviour.Equipped with a smartphone app connected to a digital platform, regular motorists can compete to become the world’s smartest driver by using their own car. 

 About Greater Than and Enerfy

Greater Than is an AI and Insurtech company, providing predictive risk insights on claims frequency and cost – helping global insurance carriers with better pricing of premiums, smart customer retention and targeted customer acquisition. Based on the company’s AI technology, Greater Than provides a product portfolio including Enerfy Risk Portfolio Tracker, Enerfy Loyalty and Enerfy Insurance Products, as well as additional services and apps for dynamic pricing, car sharing, fleets, leasing and driver gamification. Greater Than partners with large insurance enterprises such as Zurich, MSIG, and TRYG. Greater Than is listed on Nasdaq First North Growth Market. Learn more at greaterthan.eu

About Hong Kong Automobile Association (HKAA)

The Hong Kong Automobile Association is the most recognized and longest established automobile organization formed in Hong Kong and has been in existence since 1918. Affiliated with more than 150 overseas motoring organizations around the world HKAA offers reciprocal services to members.

HKAA is a member of the Federation Internationale de l’Automobile (FIA), the Federation Internationale de Motocyclisme (FIM) and the Hong Kong Sports Federation and Olympic Committee of Hong Kong, China. As the ASN (National Sporting Authority) in Hong Kong, HKAA’s involvement in motorsport began in the 1950s and is the sole Association to issue race competition licenses to members. In addition to this formal role, the Association has been actively involved in the promotion of sporting events, to assist Hong Kong competitors to participate international events in other countries.

As an internationally recognized not-for-profit organization, the HKAA upholds the objectives of serving and protecting our members, serving the community, promoting road safety and motorsports development, and supporting environmental protection. Visit us at www.hkaa.com.hk

About the Fédération Internationale de l’Automobile (FIA)

The Fédération Internationale de l’Automobile (FIA) is the governing body for world motor sport and the federation of the world’s leading mobility organisations.

Founded in 1904, with headquarters in Paris and Geneva, the FIA is a non-profit organisation. It brings together 240 Member Organisations from 144 countries on five continents. Its Member Clubs represent over 80 million road users and their families.

The FIA promotes safe, sustainable and accessible mobility for all road users around the world. Further details can be found at www.fia.com
 

CONTACT:

For media inquiries, please contact:
Eva Voors, Head of PR and Communications 
+46-708-884880
eva.voors@greaterthan.eu
www.greaterthan.eu 
 

This information was brought to you by Cision http://news.cision.com

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Head-up Display Market worth $4.6 billion by 2025 – Exclusive Report by MarketsandMarkets™

CHICAGO, Jan. 11, 2021 /PRNewswire/ — According to the new market research report «Head-up Display Market with COVID-19 Impact Analysis by Component (Video Generator, Projector/Projection Unit, Display Unit, Software), Type (Conventional HUD, AR-Based HUD), Application (Aviation, Automotive), and Geography – Global Forecast to 2025″, published by MarketsandMarkets™, the Head-up Display Market is projected to grow from USD 1.3 billion in 2020 to <span…

CHICAGO, Jan. 11, 2021 /PRNewswire/ — According to the new market research report «Head-up Display Market with COVID-19 Impact Analysis by Component (Video Generator, Projector/Projection Unit, Display Unit, Software), Type (Conventional HUD, AR-Based HUD), Application (Aviation, Automotive), and Geography – Global Forecast to 2025″, published by MarketsandMarkets™, the Head-up Display Market is projected to grow from USD 1.3 billion in 2020 to USD 4.6 billion by 2025; it is expected to grow at a CAGR of 28.5% from 2020 to 2025. The increase in awareness about passenger and vehicle safety, the convenience offered by a combination of satellite navigation technology & HUD system, increasing demand for connected vehicles, increasing demand for technologically advanced HUDs, and growth of the augmented reality market are the key factors driving the head-up display market growth.

MarketsandMarkets

Ask for PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=684

Projector units to lead the head-up display component market during the forecast period

The projector is a major part of HUD as it projects the information on a transparent windshield. In early HUDs, refraction was used for projecting images in the projector, whereas in modern HUDs, reflection is used to project the image. Projection units use cathode ray tubes, LEDs, or liquid crystal displays to project the image. Projection units can be adjusted either below or above combiners. Projector projects image through the laser beam. Projector units are expected to lead the overall head-up display market.

Market for AR-based head-up displays projected to grow at a higher CAGR during the forecast period

Technological advancements, as well as increasing consumer demand for advanced safety functions, are expected to drive the AR-based HUD market. Monitoring multiple in-vehicle displays while driving can trigger mishaps on the road. To reduce cognitive workload while driving, AR-based HUD systems can reduce distraction and make driving safer. Driver information, assistance, and attention management can be viewed, along with real-time traffic conditions, on the windshield in the driver’s line of sight.

Browse in-depth TOC on «Head-up Display Market«

128 – Tables
64 – Figures
190 – Pages

Inquiry Before Buying: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=684

APAC to lead the head-up display market during the forecast period

APAC is expected to exhibit strong growth in the next few years owing to the significant contribution of Japan, China, and South Korea in the growth of HUD market. The strong growth of the automotive application in China and Japan is projected to boost the automotive market in the APAC region.

Major vendors in the head-up display market include Bosch (Germany), Nippon Seiki Co., Ltd. (Japan), Continental AG (Germany), Visteon Corporation (US), Denso Corporation (Japan), Panasonic Corporation (Japan), BAE Systems (UK), Pioneer Corporation (Japan), Yazaki (Japan), and Garmin (US).

Related Reports:

Augmented Reality Market by Offering (Hardware (Sensor, Displays & Projectors, Cameras), Software), Device Type (Head-mounted, Head-up), Application (Enterprise, Consumer, Commercial, Healthcare, Automotive), and Region – Global Forecast to 2024

Virtual Reality Market with COVID-19 Impact Analysis by Offering (Hardware and Software), Technology, Device Type (Head-Mounted Display, Gesture-Tracking Device), Application (Consumer, Commercial, Enterprise, Healthcare) and Geography – Global Forecast to 2025

About MarketsandMarkets™ 

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the «Growth Engagement Model – GEM». The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write «Attack, avoid and defend» strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, «Knowledge Store» connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/head-up-display-hud-market.asp 
Visit Our Web Site: https://www.marketsandmarkets.com
Content Source:  https://www.marketsandmarkets.com/PressReleases/head-up-display.asp 

Cision View original content:http://www.prnewswire.com/news-releases/head-up-display-market-worth-4-6-billion-by-2025–exclusive-report-by-marketsandmarkets-301205093.html

SOURCE MarketsandMarkets

Innovador Sistema Decorativo Stone Slurry™ de Tennant Coatings Eleva su Piso Epóxico con Beneficios Revolucionarios en Funcionalidad y Un Nuevo Acabado de Lujo

CHICAGO, 11 de enero de 2021 /PRNewswire/ — Tennant Coatings, Inc., el fabricante líder en la industria de sistemas de recubrimiento industrial para usos comerciales, institucionales e industriales ha lanzado el nuevo Sistema Decorativo Stone SlurryTM de Tennant. Este avance en pisos epóxicos le presenta un acabado de lujo único con una saturación increíble de color y una sorprendente profundidad óptica, proporcionando a los profesionales de diseño una nueva paleta casi ilimitada para moldear el…

CHICAGO, 11 de enero de 2021 /PRNewswire/ — Tennant Coatings, Inc., el fabricante líder en la industria de sistemas de recubrimiento industrial para usos comerciales, institucionales e industriales ha lanzado el nuevo Sistema Decorativo Stone SlurryTM de Tennant. Este avance en pisos epóxicos le presenta un acabado de lujo único con una saturación increíble de color y una sorprendente profundidad óptica, proporcionando a los profesionales de diseño una nueva paleta casi ilimitada para moldear el ambiente y el carácter de los espacios interiores. Acompañando el llamativo atractivo visual, se encuentran los numerosos beneficios en funcionalidad. En comparación con los pisos decorativos de resina, la instalación del Sistema Decorativo Stone SlurryTM de Tennant es impresionantemente rápida—las interrupciones cortas de actividades les permiten a las instalaciones volver a sus operaciones diarias mucho más rápido. Las excelentes ventajas sanitarias empiezan con una base de zoclo/curva sanitario(a) revolucionario y fácil de instalar que se integra monolíticamente en la superficie del piso. Esta opción rápida de instalar ayuda a minimizar las juntas, las uniones y los ángulos de noventa grados para mejorar la higiene y el control de patógenos, mientras que las resinas de alto rendimiento de Tennant Coatings aseguran la resistencia óptima a químicos y a la abrasión. Además, los daños menores de superficie, si ocurrieran, se pueden reparar con resultados prácticamente indetectables.

Tennant Coatings, como una división de Tennant Company, el fabricante de equipos de limpieza de suelos de renombre mundial, se encuentra a la vanguardia del conocimiento, experticia y experiencia de pisos. Tennant le ofrece a las instalaciones la más completa gama de soluciones para cumplir casi cualquier necesidad de piso. Con el nuevo Sistema Decorativo Stone SlurryTM de Tennant, la empresa vuelve a demostrar su liderazgo en la industria de revestimientos de pisos resinosos. La marca Tennant Coatings ahora abarca los sistemas epóxicos y uretanos de bajas emisiones, certificados por LEEDv4, así como también los recubrimientos de vinil éster y productos vanguardistas en pulido de concreto.

«El Nuevo Sistema Decorativo Stone SlurryTM de Tennant lleva el acabado, rendimiento e instalación del piso epóxico, a un nuevo nivel y ha recibido elogios por parte de nuestra red de contratistas autorizados,» menciona Don Andrews, VP de Tennant Coatings. «Nuestros instaladores experimentados reconocen las ventajas competitivas ofrecidas por el sistema, en términos de instalación más rápida de pisos y zoclos/curva sanitarios, desempeño sobresaliente y reparaciones «invisibles». Estamos emocionados de ver esta solución innovadora aplicada en instalaciones farmacéuticas y educativas, entre otras, en los próximos meses.»

Nuestros Representantes de Ventas de Tennant Coatings están disponibles a través de U.S., Canadá, México y Centroamérica. Llame al 1-800-228-4943 para consultar con un experto cerca de usted. 

Información visible de contacto para el equipo Tennant Coatings: coatings@tennantco.com 1-800-228-4943

Vídeo – https://mma.prnewswire.com/media/1397228/Tennant_Decorative_Stone_Slurry_System.mp4   

FUENTE Tennant Coatings, Inc.

Driving the Future Forward: Pandemic Shifts Consumer Mindset on Tech Adoption

NEW YORK, Jan. 11, 2021 /PRNewswire/ —

Key takeaways

  • While…

NEW YORK, Jan. 11, 2021 /PRNewswire/ —

Key takeaways

  • While the long-term trend towards electric vehicles (EVs) continues to solidify, consumer anxiety amid the pandemic may be shifting automotive priorities towards familiarity and affordability, with 74% of U.S. consumers looking for a traditional internal combustion engine in their next vehicle.
  • Vehicle payment deferments are also raising some concern across the globe with younger consumers in the U.S. more than two times more likely to push back payments (23% of 18-34 year olds versus 10% of the overall study sample).
  • While online automotive sales have risen in popularity globally due to the pandemic, 71% of U.S. consumers still want the in-person experience moving forward.

Why this matters
Uncertainty and financial concerns driven by COVID-19 continue to have an impact on consumer mobility and the global automotive sector. For more than a decade, Deloitte has been exploring automotive consumer behaviors and trends impacting the global automotive ecosystem. This year’s report titled, «2021 Global Automotive Consumer Study,» surveyed more than 24,000 consumers from 23 countries. It explores opinions regarding a variety of issues impacting the global automotive sector, including implications of the pandemic on consumer perceptions, the development of advanced technologies and impact of digital automotive retail platforms.

Recharging consumer interest in EVs
Before the transportation torch is officially passed from internal combustion engines (ICE) to electric powertrains, consumers require greater assurance around mileage, robust charging infrastructure rollouts and affordability of the electric segment. While the pandemic continues to play a large role in exacerbating this apprehension, stricter carbon emission regulations on the horizon point to a «closing window» for the traditional ICE segment experience.

  • Motivated by a sense of familiarity and financial concerns due to COVID-19, consumers across the globe are showing a near-term reluctance to switching away from ICE technology. Just one-quarter (26%) of U.S. consumers are considering alternative engine solutions for their next vehicle, down 15% year-over-year.
  • The top concern about EVs in both the U.S. and Germany is battery range (28%), whereas lack of charging infrastructure is top of mind in Asia (The Republic of Korea at 32%, Japan at 29% and India at 26%).
  • While the majority of consumers in the U.S. (71%), Japan (71%), Germany (64%) and India (63%) expect to charge their vehicles at home, more than half (51%) of respondents in China intended to make use of available charging stations at their place of work or on the street instead.
  • Consumer perception of connected vehicles appears to be edging up in Asia, with as many as 83% of consumers in China finding the technology beneficial; that number is just about half in the U.S. (44%).
  • With increased connectivity, 64% of U.S. consumers are most concerned about the possibility of hacking, which is shared among consumers in Germany (64%), The Republic of Korea (64%) and India (66%).
  • Advanced vehicle features that promote greater safety capabilities, such as blind-spot detection, are most appealing to U.S consumers (70%), whereas Germany also ranks built-in navigation systems as their most important future vehicle option at 65%. But, cost continues to be a limiting factor for advanced vehicle technologies with 74% of U.S. consumers unwilling to pay more than US$500 for infotainment.

Key Quote
«The global automotive industry, like many others, has been profoundly impacted by the pandemic. That said, the momentum toward a more connected vehicle future remains bright and full of promise. Ever stricter vehicle emissions requirements in many markets around the world are also pushing the goal of electric mobility forward. Efforts to realize these technologies will open up a new world of possibility.»

Dr. Harald Proff, Deloitte Global automotive leader and partner, Deloitte Germany

Financial concerns reroute future vehicle intentions
Continued financial concerns are affecting vehicle ownership across the globe. Due to the COVID-19 pandemic, consumers in many markets are rethinking not only when they will be buying their next vehicle but also what type of vehicle they will buy next. As the risk of affordability concerns increase, a growing number of people are deferring vehicle loan/lease payments with some intending to acquire a less expensive vehicle than originally planned.

  • One in 10 Americans (10%) opted to defer their automotive payment in 2020, but that rises to 23% among consumers aged 18-34.
  • While the vast majority (84%) of U.S. consumers plan on purchasing a similar vehicle in the future, more than half of consumers in India (57%) plan to enter a completely different vehicle segment as a result of the pandemic.
  • Timelines for acquiring their next vehicle varies greatly, with 66% of U.S. consumers remaining on initial timelines. In contrast, roughly one-third of consumers in India (38%) and The Republic of Korea (32%) plan on delaying their next vehicle purchase.

Mapping future digital auto services
The COVID-19 pandemic has given rise to more virtual transactions, but certain aspects of the buying process remain difficult to digitize, reinforcing the consumers’ desire for an in-person experience.

  • U.S. preferences remain largely in favor of in-person sales experiences (71%). In contrast, consumers in India look to be the most open to a virtual transaction in the automotive space with almost one-third (27%) indicating a fully virtual buying experience is preferred.
  • Authorized dealers will remain a part of the virtual buying process with more than half (59%) of U.S. consumers preferring to interact with a franchised seller.
  • Having the ability to see the car in-person remains a major deterrent for fully virtual sales noted by 75% of U.S. consumers, in addition to respondents in Japan (80%) and Germany (76%). Similarly, more than half (59%) of consumers in China listed the physical test drive of a vehicle as a deterrent to a fully virtual transaction, as did 64% of U.S. respondents.
  • One virtual transaction that engenders a high level of interest globally is «virtual servicing,» where a vehicle is picked up from a home or office when it needs service. Consumers in the U.S. (46%), The Republic of Korea (70%), and Japan (67%) are largely in favor of the added convenience, provided it comes free of charge.

Key quote
«Unlike many other retail sectors that have seen a wholesale shift to online buying, purchasing a vehicle remains a largely personal experience for many consumers.  However, some people will be looking for a virtual sales experience to maximize convenience, speed and ease of use. This will likely result in a more complicated, and potentially costly, set of consumer expectations for dealers to meet at a time when businesses are looking to recover and thrive in the wake of the pandemic.»   

Karen Bowman, vice chairman, Deloitte LLP and U.S. automotive sector leader

Connect with us on Twitter at @DeloitteCB or on LinkedIn @KarenBowman.

About Deloitte
Deloitte provides industry-leading audit, consulting, tax and advisory services to many of the world’s most admired brands, including nearly 90% of the Fortune 500® and more than 7,000 private companies. Our people come together for the greater good and work across the industry sectors that drive and shape today’s marketplace — delivering measurable and lasting results that help reinforce public trust in our capital markets, inspire clients to see challenges as opportunities to transform and thrive, and help lead the way toward a stronger economy and a healthier society. Deloitte is proud to be part of the largest global professional services network serving our clients in the markets that are most important to them. Now celebrating 175 years of service, our network of member firms spans more than 150 countries and territories. Learn how Deloitte’s more than 330,000 people worldwide connect for impact at www.deloitte.com.  

Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee («DTTL»), its network of member firms, and their related entities. DTTL and each of its member firms are legally separate and independent entities. DTTL (also referred to as «Deloitte Global») does not provide services to clients. In the United States, Deloitte refers to one or more of the US member firms of DTTL, their related entities that operate using the «Deloitte» name in the United States and their respective affiliates. Certain services may not be available to attest clients under the rules and regulations of public accounting. Please see www.deloitte.com/about to learn more about our global network of member firms.

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SOURCE Deloitte

Ambient Weather Releases New Features To The Fastest Growing Interactive Online Weather Community

BOOTHWYN, PA, Jan. 11, 2021 /PRNewswire/ –at CES 2021 Ambient Weather®, a Nielsen-Kellerman® brand, debuts the release of new features on AmbientWeather.net – the fastest growing interactive online weather community. Ambient Weather has been a market leader in weather stations, environmental monitoring instruments, and intuitive web-based dashboards for viewing and sharing weather data for over two decades. Ambient Weather believes weather is personal, and we are dedicated to building a…

BOOTHWYN, PA, Jan. 11, 2021 /PRNewswire/ –at CES 2021 Ambient Weather®, a Nielsen-Kellerman® brand, debuts the release of new features on AmbientWeather.net – the fastest growing interactive online weather community. Ambient Weather has been a market leader in weather stations, environmental monitoring instruments, and intuitive web-based dashboards for viewing and sharing weather data for over two decades. Ambient Weather believes weather is personal, and we are dedicated to building a community around people that are passionate about weather.

Once you connect your personal weather station to AmbientWeather.net, you become a free contributing member to one of the most interactive social weather platforms. Join the conversation with seamless streaming of real-time weather conditions from your station, hyper-local weather forecasts, and an active community of weather professionals and enthusiasts who together, create a rich network of weather data.

A Connected Weather Experience

The personal weather dashboard at AmbientWeather.net is the most versatile and intuitive in the industry. Posting data online from your own station is free and requires only a quick connection of your station console to your Wi-Fi network. Connect with other nearby stations, or track distant weather at your favorite ski area, marina, beach, or work location. View charts and graphs of historical data or information like temperature, humidity, rainfall, ultraviolet radiation, and more, directly from your device. And, once connected, you can interact with your personal station data on Alexa, Google Home, and IFTTT.

Making Weather Personal

Ambientweather.net is much more than just a web-based weather dashboard. We take our extensive weather station network and place them into a mapping platform combining meaningful weather information with a robust community. View up-to-the-minute conditions and even live weather images from nearby stations such as your recreational or work location. Like, share and comment on forecasts in your area or create your own hyper-local forecasts. No matter If you follow the weather to plan for work, time with family, travel, or outdoor activities having real-time hyper-local weather reporting helps you stay more connected to what matters most.

To learn more about our online community and experience these features firsthand, please visit https://ambientweather.net/

About Nielsen-Kellerman
Nielsen-Kellerman (NK) is the parent company for a family of measuring and monitoring technology brands focused on providing the accurate performance and weather data needed for safety, business success, research and defense, as well as athletic and recreational activities. NK specializes in building products that perform in the most challenging outdoor environments, from the water to the desert. NK’s largest division is the weather division, encompassing Kestrel® Weather and Environmental MetersAmbient Weather® Stations and internet dashboards, and RainWise® Professional Grade Weather Stations and Rain Gauges. NK also designs and builds NK Sports Performance electronics for rowing and paddling, Kestrel® Ballistics Meters and MagnetoSpeed(R) Shooting Accessories for long-range shooting, and Blue Ocean Rugged Megaphones for outdoor use. NK makes the majority of its products in the USA and is proud to be both a recognized leader in Lean Manufacturing and an award-winning top workplace. For more information, visit www.nkhome.com.

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SOURCE Ambient Weather

PepsiCo Selects 10 Emerging Innovators To Grow the Next Generation of Wellness Technologies, Services and Ingredients

PURCHASE, N.Y., Jan. 11, 2021 /PRNewswire/ — PepsiCo (NASDAQ:PEP) announced today the 10 finalists from around the world that join its fifth annual Greenhouse Accelerator, a mentor-guided program supporting the acceleration of the latest innovators that seek to transform the ways consumers eat, drink and…

PURCHASE, N.Y., Jan. 11, 2021 /PRNewswire/ — PepsiCo (NASDAQ:PEP) announced today the 10 finalists from around the world that join its fifth annual Greenhouse Accelerator, a mentor-guided program supporting the acceleration of the latest innovators that seek to transform the ways consumers eat, drink and live their lives. This year’s Greenhouse Accelerator program looks outside the box in areas like emerging science and technology that can help PepsiCo stay close to evolving consumer tastes and preferences. Each of the participating companies will receive $20,000 in grant funding and begin a six-month business program designed to accelerate their growth through personalized mentorship.

«We’re excited to evolve our Greenhouse Accelerator program to new areas including cutting-edge science and technology,» said Daniel Grubbs, Managing Director, PepsiCo Ventures Group. «We have a lot to learn from this group and look forward to collaborating closely with these 10 innovators who are changing the game through personalization, emerging technologies, and unique services and ingredients.» 

The 10 innovators will receive personalized mentorship from experts at PepsiCo across functions including Research and Development, Supply Chain and Design. Mentors will collaborate with the companies to solve a range of business challenges, including business model development, scaling technology and go-to-market strategy. In June, one company will be awarded an additional $100,000 in funding to continue its growth.

«There’s no question that COVID-19 has renewed consumer interest in taking control of their personal health and wellness, and we continue to explore how this evolves in the food and beverage space,» said Antonio Tataranni, SVP, R&D and Chief Medical Officer, PepsiCo. «Our Research and Development team continues to look for emerging and disruptive solutions that address consumer needs, such as creative innovations in personalized nutrition, functional foods and supplements, and new technologies that enable vitality.»

The 10 companies selected for the fifth annual global PepsiCo Greenhouse Accelerator program are:*

Company Name

Location

Description

BioLumen

San Francisco, California, U.S.

BioLumen is a nutritional technology company which engineers 100% natural structured fiber that absorbs sugars and fats in the stomach.

Biosustain Labs

Kodagu, India

Biosustain Labs develops sustainable functional food products for consumers looking for specific health benefits from their foods.

Braingaze

Barcelona, Spain

Braingaze is a scientifically proven and clinically validated digital solution to detect and treat cognitive dysfunctions using mind-tracking technology.

Canomiks

Rochester, Minnesota, U.S.

Canomiks is making food as medicine a reality through its genomics and AI-based Product Superiority Platform, a platform that helps companies in the functional food and beverage, dietary supplement and skincare industries develop safe and efficacious products.

Carbiotix AB

Lund, Sweden

Carbiotix AB is pioneering microbiome healthcare through modulators and gut health testing services.

LifeNome – Ask
Sophie

New York, New York, U.S.

LifeNome’s Ask Sophie is a precision pregnancy nutrition and health companion that targets an expecting mother’s unique biological needs from preconception to post-delivery.

Melico Science

London, UK

Specializing in precision nutrition and wellness, Melico Science uses advanced technology to provide metabolically personalized dietary advice using chemical fingerprinting of a urine sample to give consumers the tools they need to be their healthiest self.

Seqbiome

Cork, Ireland

SeqBiome currently offers microbiome sequencing, analysis, and consultancy for industry to academia clients, and is now looking to expand this into a B2C offering to athletic and performance consumers to improve or maintain their overall physical and mental performance.

Sphera Encapsulation

Verona, Italy

Sphera Encapsulation is building a more sustainable food system by using patented technology to develop the next generation of encapsulated products, such as functional foods or taken as functional supplements that have a meaningful social, environmental and health impact.

ZBiotics

San Francisco, California, U.S.

ZBiotics uses proprietary technology to make genetically engineered probiotics that execute specific beneficial functions for your body, making your healthy life healthier.

The finalists were selected by a committee of leaders within PepsiCo based on their ability to offer ingredients, products or services that encourage a healthy lifestyle and enable health management and wellness on a global scale.

The Greenhouse Accelerator program first launched in Europe in 2017 and expanded to North America in 2018. Over the years, the program has evolved to support the innovators and entrepreneurs that appeal to consumer needs. For more details on this year’s PepsiCo Greenhouse Accelerator program and the 10 finalists, please visit: https://greenhouseaccelerator.com/

*The descriptions of each start-up are based on the respective company’s own words. PepsiCo has not verified the accuracy of the product claims of the companies, does not endorse, and is not responsible for the content, actions, or omissions of the companies.

About PepsiCo 
PepsiCo products are enjoyed by consumers more than one billion times a day in more than 200 countries and territories around the world. PepsiCo generated more than $67 billion in net revenue in 2019, driven by a complementary food and beverage portfolio that includes Frito-Lay, Gatorade, Pepsi-Cola, Quaker and Tropicana. PepsiCo’s product portfolio includes a wide range of enjoyable foods and beverages, including 23 brands that generate more than $1 billion each in estimated annual retail sales. Guiding PepsiCo is our vision to Be the Global Leader in Convenient Foods and Beverages by Winning with Purpose. «Winning with Purpose» reflects our ambition to win sustainably in the marketplace and embed purpose into all aspects of the business. For more information, visit www.pepsico.com.  

Media Contact:
Lauren Levine
Lauren.Levine@pepsico.com  
(631) 838-6805

 

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SOURCE PepsiCo, Inc.

Flatiron School Releases 2020 Jobs Report

NEW YORK, Jan. 11, 2021 /PRNewswire/ — Flatiron School, a global institution that trains students in 21st-century skills like software engineering, data science, cybersecurity and UX/UI design, today released its 2020 Jobs Report. Independently examined by external auditors Moody, Famiglietti & Andronico, LLP to ensure transparency and authenticity, the annual report details job placement data for 2,262 students who graduated from an online or on-campus program between <span…

NEW YORK, Jan. 11, 2021 /PRNewswire/ — Flatiron School, a global institution that trains students in 21st-century skills like software engineering, data science, cybersecurity and UX/UI design, today released its 2020 Jobs Report. Independently examined by external auditors Moody, Famiglietti & Andronico, LLP to ensure transparency and authenticity, the annual report details job placement data for 2,262 students who graduated from an online or on-campus program between January 1, 2019 and December 31, 2019.

According to the results, which consist of responses from 1,736 on-campus students and 526 online students, Flatiron School graduates secured positions quickly, and with competitive salaries. Fifty-three percent of job-seeking graduates accepted jobs within 60 days, and 86% of job-seeking graduates accepted jobs within the reporting period, despite the impact of COVID-19. The average salary of global Flatiron School graduates who accepted full-time positions and disclosed compensation was nearly $70,000. The average salary of U.S. graduates was nearly $75,000. For perspective, in 2020, the entire household median income in the United States was $68,400. Those that took full-time contract, internship, apprenticeship, or freelance positions started at an average hourly rate of $32 per hour, more than four times the federal minimum wage ($7.25).

Graduates were hired across companies of all sizes and industries, including Twitter, Facebook, Slack, Spotify, NBA and MLB. Graduates accepted full-time roles in software engineering, data analytics, technical teaching, product management, UX design, UI design and other technical disciplines including cybersecurity.

«I am so proud of my career. I am so proud to call myself an engineer. I’m so proud to represent women in technology. I’m proud to represent Black Americans,» said Olivia Auzenne, a Software Engineering graduate. «I have a sense of pride when people ask me what I do and I can say, yeah, I’m an engineer at a notable company.»

The 2020 Jobs Report revealed positive movement for women in tech. The average salary for job-seeking graduates who accepted a full-time annual salaried job was 6% higher for women compared to men ($72,280 vs $68,365). In addition, 90% of women accepted full-time jobs while 83% of men accepted full-time jobs. With 32% of the 2,262 Flatiron School students being women, Flatiron School continues to work to drive positive change by partnering with like-minded organizations, offering scholarships and empowerment initiatives like Women Take Tech.

«We created a purpose-driven company as a response to our experience in tech and passion for driving stronger education, removing the high costs, barriers to entry, and stale classroom experience,» said Adam Enbar, chief executive officer and co-founder of Flatiron School. «Eight years later, I’m proud that so many students of all backgrounds have entrusted us with their education, and their futures. Our graduates more than doubled in 2019 and exhibited their strength in 2020, a time of great challenge and change. I’m excited to see what we do in 2021.»

The 2020 Jobs Report also revealed:

  • Areas in need of tech talent – of the 1,286 graduates who accepted offers within the reporting period, 69% were in Engineering, 12% were in Data Analytics, 7% were in Technical Teaching, 4% were in Product Management or Technical Project Management, 3% were in other technical disciplines, such as QA, Technical Sales, Technical Writing, Cybersecurity Engineering, or Cybersecurity Analysis, and 5% were in UX and UI design.
  • Online vs. On-Campus Programs – On-Campus Programs had a job placement rate 2 percentage points higher than Online Programs.
  • Regional differences in hiring – geography impacted job placement rates and the size of the company at which grads accepted roles. For example, 43% of Brooklyn campus graduates went on to work at large companies, whereas 48% of Londoners went on to work at smaller shops with less than 50 employees. 50% of graduates in Washington D.C. accepted a tech job within 30 days while 47% of graduates in Houston accepted a tech job within 30 days.
  • Accessible tuition rates – of the 1,942 graduates included in this report, the average tuition bill, excluding students who received full scholarships and students who enrolled in a regional Pilot Data Science program, was $13,383.

To read the full 2020 Jobs Report, please visit: https://flatironschool.com/jobs-reports/.

About Flatiron School
Flatiron School is an education innovator teaching students in-demand tech skills like software engineering, data science, cybersecurity, and UX/UI design. When it comes to landing a job, Flatiron School graduates have a proven track record of success thanks to expert instructors, dedicated career coaches, and a tuition-back promise (see details at flatironschool.com/terms). Flatiron School’s mission is to enable the pursuit of a better life through education.

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SOURCE Flatiron School

Pandemic Year Brought Incredible Surge in ‘Million-Dollar Cities’

SEATTLE, Jan. 11, 2021 /PRNewswire/ — Although the typical value of a home in the United States is about $263,000, the number of «million-dollar cities» spiked sharply last year,  according to a new Zillow analysis.  There are 45…

SEATTLE, Jan. 11, 2021 /PRNewswire/ — Although the typical value of a home in the United States is about $263,000, the number of «million-dollar cities» spiked sharply last year,  according to a new Zillow analysis.  There are 45 more U.S. cities1 with a typical home value of at least $1 million than there were a year ago — the largest increase in at least a decade.

There are now 312 million-dollar cities, up 104 from five years ago. Nearly half of those 104 crossed that threshold in 2020, a reflection of the flaming hot market last year that saw home values appreciating near 7.5% annually in November as demographic trends and pandemic effects brought surging demand through most of 2020.  This follows a year in which home prices appreciated at the lowest rate since 2013 and a net of two cities fell below the $1 million threshold.

Million-dollar cities are fairly congregated geographically, with 70 percent concentrated within nine coastal metro areas. Among those, 61 are in the San Francisco metro area, 51 are clustered around New York City and 39 are in the Los Angeles area. The metro areas of San Jose (20 cities), Boston (11),  MiamiFort Lauderdale (11), Seattle (9) and Washington, D.C., (8) also have multiple cities where the typical home price exceeds $1 million.

«In 2020 home values soared nationwide because of incredible demand across all price tiers, which we expect to continue well into 2021,» says Zillow senior economist Chris Glynn. «Despite the label, there are homes available in these communities for less than $1 million, but buyers must be realistic about their wish list and act quickly in the current market, especially since homes are selling in a matter of days in many places.  For sellers, it is possible to capitalize on the recent growth in these markets and relocate to far less-expensive markets – particularly with an increase in remote work offering flexibility in the job market.»

Atherton, Calif., near San Francisco, has the highest typical home value in the country at about $6.6 million. Hunts Point, Wash., near Seattle, is No. 2,  with typical values around $6 million. Sagaponack, New York, and Jupiter Island, Fla. (Port St. Lucie metro area), follow with typical values over $5 million. There are six additional cities with typical home values over $4 million, 21 more with values over $3 million, and another 38 with values over $2 million.

Historically, the list of million-dollar cities is dominated by areas that offer natural amenities like proximity to the ocean and mountains, and many of the cities that joined the list this year fit that mold. Some newcomers include Potomac, Maryland; Longport, Long Beach Township, and Allenhurst in New Jersey; and Westhampton and the Town of Shelter Island in New York. Calistoga and Yountville in California’s Napa Valley also crossed the $1 million threshold in 2020, as well as Incline Village, Nevada, in the Lake Tahoe area.

«An increased demand in places like Potomac and other more expensive areas around the county is happening because of the pandemic-driven need for more indoor and outdoor space, home offices, pools and more,» said Samer Kuraishi, a Best of Zillow Premier Agent and President of The ONE Street Company, a boutique real estate firm in Washington, D.C. «We’re seeing more buyers from afar using technology to tour homes and buy ‘sight unseen.’ The sellers who have a great media package, including a floor plan with dimensions, virtual staging and 3D imaging, have the edge in such a competitive market.»

If current rates of appreciation hold, two additional Coastal California cities could join the $1 million club in the coming months — El Cerrito and Cayucos.

Metros with the Most $1 Million Cities (November 2020)

Metro

Number of $1 Million Cities

San Francisco, Calif.

61

New York, N.Y.

51

Los Angeles, Calif.

39

San Jose, Calif.

20

Boston, Mass.

11

Miami, Fla.

11

Seattle, Wash.

9

Washington-Arlington-Alexandria

8

Santa Rosa, Calif.

7

Santa Maria-Santa Barbara, Calif.

6

Salinas, Calif.

5

San Diego, Calif.

5

Growth of $1 Million Cities

Year

Number of Net New $1 Million Cities

2016

8

2017

27

2018

26

2019

-2

2020

45

About Zillow

Zillow Group, Inc. (NASDAQ: Z and ZG) is reimagining real estate to make it easier to unlock life’s next chapter.

As the most-visited real estate website in the U.S., Zillow® and its affiliates offer customers an on-demand experience for selling, buying, renting or financing with transparency and nearly seamless end-to-end service. Zillow Offers® buys and sells homes directly in dozens of markets across the country, allowing sellers control over their timeline. Zillow Home Loans™, our affiliate lender, provides our customers with an easy option to get pre-approved and secure financing for their next home purchase. Zillow recently launched Zillow Homes, Inc., a licensed brokerage entity, to streamline Zillow Offers transactions. 

Zillow Group’s affiliates and subsidiaries include Zillow®, Zillow Offers®, Zillow Premier Agent®, Zillow Home Loans™, Zillow Closing Services™, Zillow Homes, Inc., Trulia®, Out East®, StreetEasy® and HotPads®. Zillow Home Loans, LLC is an Equal Housing Lender, NMLS #10287 (www.nmlsconsumeraccess.org).  

1 As of November 2020

 

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SOURCE Zillow

Penumbra Announces Preliminary Unaudited Revenue for the Fourth Quarter and Full Year 2020

ALAMEDA, Calif., Jan. 11, 2021 /PRNewswire/ — Penumbra, Inc. (the «Company») (NYSE: PEN), a global healthcare company focused on innovative therapies, today announced certain unaudited preliminary revenue results for the fourth quarter and full year 2020 ahead of its participation at the 39th Annual J.P. Morgan Healthcare Conference on January 11-14, 2021.

ALAMEDA, Calif., Jan. 11, 2021 /PRNewswire/ — Penumbra, Inc. (the «Company») (NYSE: PEN), a global healthcare company focused on innovative therapies, today announced certain unaudited preliminary revenue results for the fourth quarter and full year 2020 ahead of its participation at the 39th Annual J.P. Morgan Healthcare Conference on January 11-14, 2021.

Q4 Revenue Highlights

  • Preliminary fourth quarter 2020 revenue is expected to be in the range of $162.5 million to $167.9 million, which represents growth of approximately 12% to 16% compared to the fourth quarter of 2019.
  • Excluding the impact of the voluntary recall, Penumbra expects fourth quarter 2020 revenue on a non-GAAP basis1 in the range of $172.5 million to $172.9 million, which represents growth of approximately 19% compared to the fourth quarter of 2019.

Preliminary Results
The Company expects fourth quarter 2020 total revenue in the range of $162.5 million to $167.9 million, which represents growth of approximately 12% to 16% compared to the fourth quarter of 2019. This includes an expected impact in the range of $5 million to $10 million from the December 15, 2020 voluntary recall of the Penumbra JET 7 Reperfusion Catheter with Xtra Flex technology («JET 7 Xtra Flex»). The Company expects full year 2020 revenue in the range of $556.0 million to $561.4 million, which represents growth of approximately 2% to 3% compared to full year 2019.

On a non-GAAP basis,1 excluding the impact of the recall, Penumbra expects fourth quarter 2020 revenue in the range of $172.5 million to $172.9 million, which represents growth of approximately 19% compared to the fourth quarter of 2019. The Company expects full year 2020 non-GAAP revenue in the range of $566.0 million to $566.4 million, which represents growth of approximately 3% compared to full year 2019.

The Company also announced other key revenue results. The Company expects the United States to represent 69% of total revenue and international to represent 31% of total revenue for the fourth quarter of 2020. Revenue from sales of vascular products is expected to grow to be in the range of $86.9 million to $87.1 million for the fourth quarter of 2020, an increase of 45% to 46% compared to the fourth quarter of 2019. Revenue from sales of neuro products is expected to be in the range of $75.6 million to $80.8 million for the fourth quarter of 2020, a decrease of 5% to 12% compared to the fourth quarter of 2019.

On a non-GAAP basis,1 the Company expects the United States to represent approximately 70% of total non-GAAP revenue and international to represent 30% of total non-GAAP revenue for the fourth quarter of 2020. Non-GAAP revenue from sales of vascular products is expected to be in the range of $86.9 million to $87.1 million for the fourth quarter of 2020, an increase of 45% to 46% compared to the fourth quarter of 2019. Non-GAAP revenue from sales of neuro products is expected to be in the range of $85.6 million to $85.8 million for the fourth quarter of 2020, which is relatively flat compared to the fourth quarter of 2019.

Revenue from sales of vascular products is expected to grow to be in the range of $267.6 million to $267.8 million for the year ended December 31, 2020, an increase of 24% compared to the year ended December 31, 2019. Revenue from sales of neuro products is expected to be in the range of $288.4 million to $293.6 million for the year ended December 31, 2020, a decrease of 11% to 13% compared to the year ended December 31, 2019.

Non-GAAP revenue from sales of vascular products is expected to be in the range of $267.6 million to $267.8 million for the year ended December 31, 2020, an increase of 24% compared to the year ended December 31, 2019. Non-GAAP revenue from sales of neuro products is expected to be in the range of $298.4 million to $298.6 million for the year ended December 31, 2020, a decrease of 10% compared to the year ended December 31, 2019.

The preliminary unaudited revenue results described in this press release are estimates only and subject to revision until the Company reports its full financial results for 2020 during its earnings announcement planned for late February.

«I’m proud that our Penumbra team around the world was able to help our customers address the needs of many more patients during the challenges of the global pandemic,» said Adam Elsesser, chief executive officer and president, Penumbra, Inc. «We remain committed to our mission of meeting the needs of patients and all who serve them across our neuro, vascular and virtual reality franchises.»

The Company is scheduled to present at the 39th Annual J.P. Morgan Healthcare Conference on Tuesday, January 12, 2021, at 10:50 a.m. Eastern Time.  An audio webcast of this presentation will be available by visiting the investors’ section of the Company’s website at www.penumbrainc.com. The audio webcast will be available on the Company’s website for at least two weeks following the event.

1 See «Non-GAAP Revenue» for important information about our use of this non-GAAP measure.

Non-GAAP Revenue
In addition to revenue prepared in accordance with U.S. generally accepted accounting principles («GAAP»), the Company uses non-GAAP revenue in this press release.  The Company defines non-GAAP revenue as revenue excluding the impact of the December 15, 2020 voluntary recall of the Jet 7 Xtra Flex.

Full reconciliation of non-GAAP revenue to GAAP revenue is set forth in the tables below.

Our management believes non-GAAP revenue provides useful information to investors in assessing the performance of our business and provides meaningful comparisons to prior periods and thus a more complete understanding of our business than could be obtained absent this disclosure.  In addition, non-GAAP revenue enables comparison of the Company’s revenue results with other public companies, many of which present similar non-GAAP revenue measures.

The non-GAAP revenue measure included in this press release may be different from, and therefore may not be comparable to, similarly titled measures used by other companies. The non-GAAP revenue measure should not be considered in isolation or as an alternative to GAAP revenue. The Company urges investors to review the reconciliation of non-GAAP revenue to GAAP revenue included in this press release, and not to rely on any single financial measure to evaluate its business.

Penumbra, Inc.
Reconciliation of GAAP Revenue to Non-GAAP Revenue1
(unaudited)
(in thousands)

GAAP

Non-GAAP

Three Months Ended December 31,

Impact of

Three Months Ended December 31,

2020 – HIGH

2019

% Change

Recall

2020 – HIGH

2019

% Change

Neuro

$

80,762

$

85,420

(5)

%

$

(5,000)

$

85,762

$

85,420

%

Vascular

87,122

59,843

46

%

87,122

59,843

46

%

Total

$

167,884

$

145,263

16

%

$

(5,000)

$

172,884

$

145,263

19

%

United States

$

116,382

$

96,065

21

%

$

(4,800)

$

121,182

$

96,065

26

%

International

51,502

49,198

5

%

(200)

51,702

49,198

5

%

Total

$

167,884

$

145,263

16

%

$

(5,000)

$

172,884

$

145,263

19

%

Jet 7 Xtra Flex

$

3,771

$

16,660

(77)

%

$

(5,000)

$

8,771

$

16,660

(47)

%

GAAP

Non-GAAP

Three Months Ended December 31,

Impact of

Three Months Ended December 31,

2020 – LOW

2019

% Change

Recall

2020 – LOW

2019

% Change

Neuro

$

75,562

$

85,420

(12)

%

$

(10,000)

$

85,562

$

85,420

%

Vascular

86,922

59,843

45

%

86,922

59,843

45

%

Total

$

162,484

$

145,263

12

%

$

(10,000)

$

172,484

$

145,263

19

%

United States

$

112,082

$

96,065

17

%

$

(9,000)

$

121,082

$

96,065

26

%

International

50,402

49,198

2

%

(1,000)

51,402

49,198

4

%

Total

$

162,484

$

145,263

12

%

$

(10,000)

$

172,484

$

145,263

19

%

Jet 7 Xtra Flex

$

(1,229)

$

16,660

(107)

%

$

(10,000)

$

8,771

$

16,660

(47)

%

Penumbra, Inc.
Reconciliation of GAAP Revenue to Non-GAAP Revenue1
(unaudited)
(in thousands)

GAAP

Non-GAAP

Year Ended December 31,

Impact of

Year Ended December 31,

2020 – HIGH

2019

% Change

Recall

2020 – HIGH

2019

% Change

Neuro

$

293,592

$

331,685

(11)

%

$

(5,000)

$

298,592

$

331,685

(10)

%

Vascular

267,806

215,720

24

%

267,806

215,720

24

%

Total

$

561,398

$

547,405

3

%

$

(5,000)

$

566,398

$

547,405

3

%

GAAP

Non-GAAP

Year Ended December 31,

Impact of

Year Ended December 31,

2020 – LOW

2019

% Change

Recall

2020 – LOW

2019

% Change

Neuro

$

288,392

$

331,685

(13)

%

$

(10,000)

$

298,392

$

331,685

(10)

%

Vascular

267,606

215,720

24

%

267,606

215,720

24

%

Total

$

555,998

$

547,405

2

%

$

(10,000)

$

565,998

$

547,405

3

%

 

1See «Non-GAAP Revenue» for important information about our use of this non-GAAP measure.

About Penumbra
Penumbra, Inc., headquartered in Alameda, California, is a global healthcare company focused on innovative therapies. Penumbra designs, develops, manufactures and markets novel products and has a broad portfolio that addresses challenging medical conditions in markets with significant unmet need. Penumbra sells its products to hospitals and healthcare providers primarily through its direct sales organization in the U.S., most of Europe, Canada and Australia, and through distributors in select international markets. Penumbra, the Penumbra P logo, and Penumbra JET are trademarks of Penumbra, Inc. For more information, visit www.penumbrainc.com.   

Forward-Looking Statements
Except for historical information, certain statements in this press release are forward-looking in nature and are subject to risks, uncertainties and assumptions about us. Our business and operations are subject to a variety of risks and uncertainties and, consequently, actual results may differ materially from those projected by any forward-looking statements. Factors that could cause actual results to differ from those projected include, but are not limited to: the impact of the COVID-19 pandemic on our business, results of operation and financial condition; failure to sustain or grow profitability or generate positive cash flows; failure to effectively introduce and market new products; delays in product introductions; significant competition; inability to further penetrate our current customer base, expand our user base and increase the frequency of use of our products by our customers; inability to achieve or maintain satisfactory pricing and margins; manufacturing difficulties; permanent write-downs or write-offs of our inventory; product defects or failures; unfavorable outcomes in clinical trials; inability to maintain our culture as we grow; fluctuations in foreign currency exchange rates; and potential adverse regulatory actions. These risks and uncertainties, as well as others, are discussed in greater detail in our filings with the Securities and Exchange Commission (SEC), including our Annual Report on Form 10-K for the year ended December 31, 2019 filed with the SEC on February 26, 2020, our Quarterly Report on Form 10-Q for the quarter ended March 31, 2020 filed with the SEC on May 7, 2020, our Quarterly Report on Form 10-Q for the quarter ended June 30, 2020 filed with the SEC on August 3, 2020 and our Quarterly Report on Form 10-Q for the quarter ended September 30, 2020 filed with the SEC on November 2, 2020. There may be additional risks of which we are not presently aware or that we currently believe are immaterial which could have an adverse impact on our business. Any forward-looking statements are based on our current expectations, estimates and assumptions regarding future events and are applicable only as of the dates of such statements. We make no commitment to revise or update any forward-looking statements in order to reflect events or circumstances that may change.

Contact
Penumbra, Inc. Investor Relations
investors@penumbrainc.com
510-995-2461

Penumbra, Inc. Media Relations
Betsy Merryman
Merryman Communications
betsy@merrymancommunications.com
media@penumbrainc.com
310-560-8176

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SOURCE Penumbra, Inc.