Blockchain Press Releases
Digital Utility Market to Reach $594.2 Million, Globally, by 2032 at 10.8% CAGR: Allied Market Research
The global digital utility market is driven by a rise in focus on energy utility operations efficiency and an increase in investments in renewable energy.
PORTLAND, Ore., June 30, 2023 /PRNewswire/ — Allied Market Research published a report titled, “Digital Utility Market by Technology (Hardware and Integrated Solutions) by Network (Power Generation, Transmission and Distribution, and Retail): Global Opportunity Analysis and Industry Forecast, 2022-2032.” According to the report, the global digital utility industry was valued at $214.2 million in 2022 and is projected to reach $594.2 million by 2032, growing at a CAGR of 10.8% from 2023 to 2032.
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Prime Determinants of Growth:
The global digital utility market is driven by a rise in focus on energy utility operations efficiency and an increase in investments in renewable energy. However, the high operating costs hinder market growth to some extent. Moreover, the increase in digital power plants and digital buildings offers remunerative opportunities for the expansion of the digital utility market.
Report Coverage & Details:
|
Report Coverage |
Details |
|
Forecast Period |
2023–2032 |
|
Base Year |
2022 |
|
Market Size in 2022 |
$214.2 Million |
|
Market Size in 2032 |
$594.2 Million |
|
CAGR |
10.8 % |
|
No. of Pages in Report |
450 |
|
Segments Covered |
Technology, Network, and Region |
|
Drivers |
Rise in focus on energy utility operations efficiency |
|
Increase in investments in renewable energy |
|
|
Opportunities |
Increase in digital power plants and digital buildings |
|
Restraints |
High operating cost |
Impact of Russia-Ukraine War on the Digital Utility Market:
- Infrastructure disruption was a major consequence, as utility infrastructure such as power grids, communication networks, and water management systems were damaged or disrupted. This caused interruptions in the operations of digital utility systems and impeded the implementation of new technologies.
- Security concerns were heightened due to the conflict, particularly in terms of cybersecurity. Utilities faced increased risks of cyberattacks and data breaches, necessitating the implementation of stronger security measures to safeguard critical infrastructure and customer data. The conflict also led to delays in utility modernization efforts. Investments and projects related to smart grids, energy management systems, and data analytics were put on hold or delayed due to the uncertainty caused by the geopolitical situation.
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The hardware segment is expected to lead the trail by 2032:
Based on technology, the hardware segment held the highest market share in 2022, accounting for three-fifths of the global digital utility market revenue, and is expected to lead the trail by 2032. The same segment would also display the fastest CAGR of 10.9% during the forecast period. This is attributed to the substantial investments in smart metering and EV charging. In addition, the hardware is extensively used in next-generation equipment. The declining demand for traditional metering systems has increased the preference for technology and intelligent meters.
The transmission and distribution segment to maintain its dominance throughout the forecast period:
Based on the network, the transmission and distribution segment held the highest market share in 2022, accounting for nearly three-fifths of the global digital utility market, and is expected to maintain its dominance throughout the forecast period. The same segment would also showcase the fastest CAGR of 10.9% during the forecast period. This can be attributed to the fact that the new digital devices and communications and control systems increase the effectiveness of assets and facilitate the monitoring and management of electric transmission and distribution networks. Due to the increasing importance of monitoring and administering electric transmission and distribution systems, the utility industry makes extensive use of transmission and distribution solutions.
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Asia-Pacific to rule the roost by 2032:
Based on region, Asia-Pacific held the highest market share in 2022, accounting for more than one-third of the global digital utility market revenue, and is expected to rule the roost in terms of revenue throughout the forecast timeframe. The same region would also portray the fastest CAGR of 11.5% from 2023 to 2032. Increasing domestic electricity demand and shifting regional regulatory standards are anticipated to drive demand for digital utility solutions. Increasing infrastructure development activities and energy demand also contribute to the expansion of the regional market in Asia-Pacific.
Leading Market Players:
- ABB LTD.
- GENERAL ELECTRIC COMPANY
- SAP SE
- ORACLE CORPORATION.
- CISCO SYSTEMS INC.
- ACCENTURE PLC
- MICROSOFT CORPORATION
- SCHNEIDER ELECTRIC SE.
- SIEMENS
- CAPGEMINI
The report provides a detailed analysis of these key players in the global digital utility market. These players have adopted different strategies, such as new product launches, collaborations, expansion, joint ventures, agreements, and others, to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolios, and strategic moves of market players to showcase the competitive scenario.
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About us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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Blockchain Press Releases
Bybit Unveils USDT Flash Deal: Earn 15% APR and Share in a 300,000 USDT Prize Pool
DUBAI, UAE, Feb. 28, 2025 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, announced an exclusive opportunity for USDT holders to maximize their earnings with a limited-time Fixed Savings Plan offering an impressive 15% Annual Percentage Rate (APR).
The USDT Flash Deal invites participants to stake their USDT and earn rewards in just seven days while having the chance to share a prize pool of 300,000 USDT. The event is scheduled to run from February 26 until March 26, 2025.
Participants will begin by depositing USDT into their Bybit accounts using any supported method before selecting the 7-day USDT Fixed Savings Plan to secure the guaranteed APR. With deposit limits set between 1,000 USDT and 10,000 USDT, the initiative is designed to deliver a fast and efficient way to grow digital assets.
Joan Han, Sales & Marketing Director at Bybit, commented on the initiative: “We understand that market conditions can be unpredictable, which is why we continue to offer different ways for users to manage and grow their assets. This Flash Deal is designed to provide a high-yield opportunity with stability, helping our community navigate market fluctuations with confidence.”
The promotion is available on a first-come, first-served basis and permits only a single stake per eligible user. It is open exclusively to users who have recently deposited a minimum amount and completed Identity Verification Level 1, with certain restrictions applying in select jurisdictions. Bybit continues to set industry benchmarks in digital asset management by delivering innovative financial solutions.
#Bybit / #TheCryptoArk
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 60 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.
For more details about Bybit, please visit Bybit Press
For media inquiries, please contact: [email protected]
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HONG KONG, Feb. 28, 2025 /PRNewswire/ — CoinW, a global leader in cryptocurrency exchanges, made a strong impression at Consensus HK 2025 as an official 4 Block sponsor. By showcasing its dedication to blockchain innovation, strategic partnerships, and community engagement, CoinW reaffirmed its position at the forefront of the Web3 revolution. Through its exclusive partnership with LALIGA and support for its innovative platforms like DeriW, WConnect, and PropW, CoinW has strengthened its position as a leader in the Web3 revolution.
The unforgettable “Connecting Legends” afterparty further cemented its role at the cutting edge of blockchain innovation and global fan engagement.
A Grand Presence at Consensus HK 2025
CoinW captured attention from the moment attendees stepped into Consensus HK 2025. An eye-catching photo booth was positioned at the venue’s entrance mimicking Hong Kong’s iconic skyline and vibrant neon lights. There was also a large banner near the registration desk making the brand impossible to miss. CoinW’s main booth was a stunning centerpiece, which was majestically designed from top to bottom.
The first day was underscored by the presence of Christian Karembeu, a retired French football legend and LALIGA ambassador, who joined CoinW alongside LALIGA China’s CEO and VP. In a live CoinDesk broadcast, Karembeu shared his insights on the CoinW x LALIGA partnership, his personal journey, and LALIGA’s Web3 initiatives.
Karembeu further delighted fans by signing autographs at the main booth and displaying his football skills, creating an exciting and interactive experience for attendees.
Overall, CoinW’s mesmerizing set-up attracted over 1,000 participants.
Connecting Legends: CoinW’s Exclusive Afterparty
As the day turned into the night, CoinW elevated networking to the next level with an exclusive “Connecting Legends” afterparty at The Henderson – Cloud 39. This high-profile gathering brought together over 450 top industry professionals, investors, and Web3 pioneers for an evening of insightful discussions, music, and celebration.
Nassar Al Achkar, Global Operations Director, took the stage to share CoinW’s achievements in 2024 and its vision for 2025. It set the tone for an evening of innovation and collaboration.
LALIGA’S presence added to the excitement, with Christian Karembeu and LALIGA representatives signing merchandise and engaging with guests.
The event also featured dynamic presentations from DeriW and PropW, highlighting their latest advancements in Web3 trading, while WConnect led insightful discussions on its role in driving blockchain adoption.
As the night continued, a live band and DJ kept the atmosphere vibrant, ensuring an unforgettable experience for all attendees.
Empowering the Future
CoinW is more than an exchange—it’s an ecosystem builder.
During Consensus HK 2025, the company reinforced its commitment to supporting its new platforms that drive blockchain adoption:
- DeriW: The first zero-gas-fee decentralized perpetual contract exchange, blending Ethereum’s security with Layer 3 scalability to deliver CEX-like efficiency in a decentralized framework.
- PropW: Proprietary crypto trading platform (DMCC licensed by the Government of Dubai,) offering capital from $5,000 to $200,000 USD and up to 80% profit-sharing.
- WConnect: A premier online forum series designed to connect developers, traders, and blockchain communities through in-depth discussions, expert insights, and knowledge sharing.
Commitment to the Blockchain Industry
As Web3 adoption accelerates, CoinW is committed to driving the next wave of blockchain innovation and financial empowerment.
Through strategic partnerships and groundbreaking platforms like DeriW, WConnect, and PropW, CoinW is committed to fostering a more inclusive blockchain ecosystem.
Now is the time to be part of the movement. Whether you’re a trader, investor, or industry leader, join CoinW in shaping the future of crypto—where innovation meets opportunity, and adoption turns into impact.
Trade, connect, and build with CoinW today.
About CoinW
Founded in 2017, CoinW is a globally trusted cryptocurrency exchange serving over 13 million users in 14 countries. With cutting-edge technology, advanced security, and a focus on empowering blockchain innovation, CoinW supports communities worldwide in realizing the transformative power of digital assets.
Website: https://www.coinw.com/
Twitter Official: https://twitter.com/CoinWOfficial
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Blockchain Press Releases
BingX Launches Global Internship Program to Cultivate Next-Gen Crypto Leaders
PANAMA CITY, Feb. 28, 2025 /PRNewswire/ — BingX, a global leading cryptocurrency exchange, is excited to announce its Internship Program under its Global TalentX Strategy. Open to college graduates and post-graduates from all over the world, this long-term initiative began in early February, 2025. Designed to provide young enthusiasts with an accessible entry into the rapidly growing Web3 and crypto industries, the program aims to nurture new talent and drive innovation in the decentralized economy.
The Global Internship Program aims to lower barriers for aspiring individuals seeking to enter the rapidly evolving blockchain and cryptocurrency industries. Interns will have the opportunity to explore diverse roles across key areas, including business operations, product development, finance, marketing, HR, administration, and more, as listed on the BingX Career page. The program spans all regions where BingX operates, offering remote work flexibility with adaptable hours, and English as the primary working language. Interns will receive competitive salaries based on local market rates, gain hands-on experience with cutting-edge technologies, and gain invaluable exposure to the dynamic crypto industry. Interns who excel will also be considered for full-time positions at BingX, offering a pathway to long-term career growth in the company.
Vivien Lin, Chief Product Officer of BingX, shared: “The future of Web3 hinges on fresh perspectives and diverse skill sets. Through the Internship Program, we are not just recruiting interns — we are investing in the architects of tomorrow’s decentralized economy. By removing traditional barriers like experience requirements, we aim to democratize opportunities and ignite a new wave of innovation.”
The BingX TalentX Strategy focuses on identifying, nurturing, and empowering bright minds in the Web3 and blockchain space. At its core, BingX recognizes that talent is the key to driving innovation in the rapidly evolving cryptocurrency and blockchain industries. By providing early career opportunities and cultivating a diverse range of skill sets, BingX aims to build a robust talent pipeline that will contribute to the company’s future growth and the broader development of the decentralized economy.
About BingX
Founded in 2018, BingX is a leading crypto exchange, serving over 20 million users worldwide. BingX offers diversified products and services, including spot, derivatives, copy trading, and asset management – all designed for the evolving needs of users, from beginners to professionals. BingX is committed to providing a trustworthy platform that empowers users with innovative tools and features to elevate their trading proficiency. In 2024, BingX proudly became the official crypto exchange partner of Chelsea Football Club, marking an exciting debut in the world of sports.
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