Blockchain Press Releases
Wire and Cable Market Expected to Reach $323.8 Billion, Globally, By 2032 at 4.6% CAGR: Allied Market Research
The global wire and cable market is driven by factors such as a surge in demand for investments in the industrial sector, a rise in urbanization, increased investments in the transmission and distribution of electric power.
PORTLAND, Ore., July 13, 2023 /PRNewswire/ — Allied Market Research published a report, titled, “Wire and Cable Market By Installation Type (Overhead, Submarine, and Underground), Voltage (High, Medium, and Low), Vertical (Energy and Power, Aerospace and Defense, IT and Telecommunication, Industrial, Oil and Gas, and Others): Global Opportunity Analysis and Industry Forecast, 2023-2032″. According to the report, the global wire and cable was valued at $213.6 billion in 2022, and is projected to reach $323.8 billion by 2032, registering a CAGR of 4.6% from 2023 to 2032.
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Prime Determinants of Growth:
The global wire and cable market is driven by factors such as a surge in demand for investments in the industrial sector, a rise in urbanization, increased investments in the transmission and distribution of electric power which fuels the demand for cables. However, complex fault detection and removal processes hamper market growth to a certain extent. Moreover, favorable renewable energy policies provided by the governments of key countries provide lucrative opportunities for market growth.
Report Coverage and Details:
|
Report Coverage |
Details |
|
Forecast Period |
2022–2032 |
|
Base Year |
2022 |
|
Market Size in 2022 |
$213.6 Billion |
|
Market Size in 2032 |
$323.8 Billion |
|
CAGR |
4.6 % |
|
No. of Pages in Report |
274 |
|
Segments Covered |
Installation Type, Voltage, Vertical, and Region |
|
Drivers |
Surge in demand for investments in the industrial sector and rise in urbanization to drive the market growth |
|
Increased investments in transmission and distribution of electric power fuels the demand for wires and cables |
|
|
Opportunities |
Favorable renewable energy policies provided by the governments of key countries |
|
Restraints |
Complex fault detection and removal process of errors restricting the market growth |
COVID-19 Scenario:
- The COVID-19 pandemic had a significant impact on the global wire and cable market. due to the changed dynamics of the supply chain, raised demand for e-commerce packaging, and brought attention to health and safety precautions, all of which influenced the wire and cable market.
- Many businesses had to swiftly adjust to the growth in e-commerce by developing packaging that could endure the rigors of shipping and handling.
- The pandemic had intensified attention on sustainable magneto resistive element solutions as people looked for eco-friendly choices.
The overhead segment to maintain its leadership status throughout the forecast period
By installation type, the overhead segment held the highest market share in 2022, accounting for nearly three-fifths of the global wire and cable market revenue, and is estimated to maintain its leadership status throughout the forecast period. This is due to the rapid urbanization and industrialization in the developing countries, including India and China, which drives the growth of this market, primarily fostering the growth of the overhead segment. The submarine segment is projected to manifest the highest CAGR of 5.85% from 2023 to 2032. The major factors fueling the growth of the segment include expanding offshore wind power capacity, growing demand for bandwidth due to the emergence of 5G, and an increasing network of submarine cable systems.
The low segment to maintain its lead position throughout the forecast period
By voltage, the low segment held the highest market share in 2022, accounting for more than two-fifths of the global wire and cable market and is estimated to maintain its lead position throughout the forecast period. The increasing need for grid interconnections is resulting in rising investments in the new submarine and underground low voltage wire and cable market. However, the high segment is projected to manifest the highest CAGR of 5.58% from 2023 to 2032. The growth is attributed to the growing offshore wind farms, high voltage direct current links, and grid interconnections. Increasing need for grid interconnections is resulting in rising investments in the new submarine and underground high voltage wires and cables market.
Asia-Pacific to maintain its dominance by 2032
Based on region, Asia-Pacific held the highest market share in 2022, accounting for nearly half of the global wire and cable market revenue, and is expected to maintain its dominance in terms of revenue during the forecast period. The booming e-commerce and logistics industries in the Asia-Pacific region have fueled the demand for wires and cables. also due to the increase in domestic automotive demand in the emerging markets of India and China. However, the Europe region is expected to witness the fastest CAGR of 5.91% from 2023 to 2032. Growth in the automotive and consumer electronics sectors fosters several growth opportunities for wire and cable vendors in Europe.
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Leading Market Players:
- Nexans S.A.
- Prysmian Group
- Furukawa Electric Co., Ltd
- Belden Inc.
- Sumitomo Electric Industries
- Leoni AG
- Fujikura
- LS Cable & System Asia Ltd
- KEI Industries Ltd
- Amphenol Corporation
The report provides a detailed analysis of these key players in the global wire and cable 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.
Key Benefits For Stakeholders:
- This study comprises analytical depiction of the global wire and cable market size along with the current trends and future estimations to depict the imminent investment pockets.
- The overall global wire and cable market analysis is determined to understand the profitable trends to gain a stronger foothold.
- The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
- The current global wire and cable instruments market forecast is quantitatively analyzed from 2022 to 2032 to benchmark the financial competency.
- Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the wire and cable.
- The report includes the market share of key vendors and global wire and cable market trends.
Wire and Cable Market Key Segments:
By Installation Type:
- Overhead
- Submarine
- Underground
By Voltage:
- High
- Medium
- Low
By Vertical:
- Energy and Power
- Aerospace and Defense
- IT and Telecommunication
- Industrial
- Oil and Gas
- Others
By Region:
- North America (U.S., Canada, and Mexico)
- Europe (U.K., Germany, France, Italy, Spain, Russia, Netherlands, Belgium, Poland, and Rest of Europe)
- Asia-Pacific (China, Japan, India, South Korea, Australia, Malaysia, Thailand, Philippines, Indonesia, and Rest of Asia-Pacific)
- LAMEA (Latin America, Middle East and Africa)
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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
Ethiopia-Exclusive: Bybit Livens up P2P Marketplace with 12,000 USDT in Rewards
DUBAI, UAE, Nov. 18, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, is pleased to announce an Ethiopia-only limited time offer for Bybit P2P users. From now to Dec. 5, eligible makers and users on Bybit P2P can choose a special rewards track while capturing opportunities in P2P trading.
Registration is required for all three events:
1. Merchant-exclusive Event
On Bybit P2P, users may enter the P2P Maker Battle for a share of a 2,000 USDT prize pool. Merchants may get a share of the prize pool by placing a sell ad in the Ethiopian Birr (ETB) on the Bybit P2P marketplace, inviting others to buy USDT.
The prize pool will be divided by the top 10 merchants who trade with the largest number of unique users, and complete a minimum trading volume of 5,000 USDT and minimum number of 50 unique buyers. To qualify, the Merchant must register and submit their UIDs using this form.
2. Cashback Event: Up to 2% for Existing Users
All buyers have a chance at an easy win from another 8,000 USDT prize pool. Existing P2P users may simply trade to reach a minimum of 500 USDT in trading volume to unlock 2% cashback, up to 10 USDT per user.
3. Sharers Get More
Users have another way to access a 2,000 USDT prize pool by using the “share” button to spread the word about their ETB journey on Bybit P2P. The top 10 participants with the highest views will get to tell their stories and take home the rewards. Interested users may use this form to submit their work.
P2P trading is an organic part of the crypto market and an indispensable tool for improving financial inclusion and interconnectivity between community members. Bybit P2P provides a secure and user-friendly peer-to-peer trading solution, enabling users to seamlessly trade among themselves at zero fees.
Bybit offers resources about posting trades on Bybit P2P, and Ethiopian users may visit here for more.
#Bybit / #TheCryptoArk
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 50 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.
For more details about Bybit, please visit Bybit Press
For media inquiries, please contact: [email protected]
For more information, please visit: https://www.bybit.com
For updates, please follow: Bybit’s Communities and Social Media
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The European Union’s landmark MiCA regulation is set to transform the crypto industry, establishing stringent standards that many current Virtual Asset Service Providers may find challenging to meet. As MiCA compliance becomes the standard for operating within the European Economic Area, crypto exchanges and asset companies must take prompt action to align their operations with these comprehensive regulations.
To support businesses in navigating this significant transition, an exclusive webinar “Adapt or Die: The Urgent Shift from VASP to MiCA” will be held on Tuesday, November 19th, 2024, at 5:00 PM (CET) time.
This session is designed to provide industry professionals with practical insights and strategies to ensure their software and operations comply with MiCA standards.
Key highlights of the webinar include:
● Detailed analysis of MiCA regulations and their implications for the crypto sector.
● Actionable steps for software adaptation to achieve MiCA compliance.
● Case study feature: How Kyrrex achieved MiCA readiness using solutions from Simplify Labs.
● Practical tools for Anti-Money Laundering, Know Your Customer processes, cybersecurity, and transaction monitoring.
The webinar will be useful for CEOs, COOs, Compliance Officers, Regulatory and Legal Professionals, Tech Managers, and Investors looking to enter or expand within the EEA market. Attendees will gain the knowledge and tools necessary to adapt and thrive under the new MiCA regulatory framework.
Featured speakers:
Vadim Rozov, CEO at Simplify Labs, brings over 20 years of management and software development experience. Under his leadership, the company is dedicated to simplifying crypto and blockchain technology, making it accessible for non-technical founders and management teams.
Kevin Plumpton, CEO at Kyrrex, is a warranted advocate with extensive expertise in finance, business, property, and international law. He specializes in corporate governance, risk, and compliance legislation, and is a prominent figure in the Anti-Money Laundering and Counter Financing of Terrorism fields. He is recognized for developing innovative KYC and due diligence platforms utilized by leading organizations.
“The crypto industry is at a critical juncture where understanding and adhering to MiCA regulations is essential for continued growth and market access,” said Kevin Plumpton, CEO at Kyrrex. “Events like these are vital for bringing together industry leaders to share knowledge and best practices, ensuring businesses can adapt effectively and sustain their operations.”
Franklin Cachia, Executive Director at CSB Group, is an accomplished professional who advises clients on taxation, financial services, AML compliance, and corporate law, among other areas. His broad expertise also encompasses gaming, GDPR, and property law.
The post Adapt or Die: The Urgent Shift from VASP to MiCA appeared first on .
Blockchain Press Releases
Sweat Your Way to Rewards: Live4Well Revolutionizes Wellness with Innovative “Exercise-to-Earn” Ecosystem
HONG KONG, Nov. 18, 2024 /PRNewswire/ — The past decade has witnessed a dramatic shift in consumer behavior, with online shopping becoming the norm, further accelerated by the pandemic. Reward programs have sprung up everywhere, incentivizing spending and fostering brand loyalty. The core of cashback is to encourage consumers to develop a habit of continuous shopping through rewards. This same logic is beginning to take root in the field of sports and health.
GYMetaverse, the innovative team behind the successful Live4Well Genesis NFT collection, is disrupting the rewards landscape with the launch of its upgraded VIV PASS program. This groundbreaking “move-to-earn” ecosystem incentivizes healthy habits, transforming sweat equity into tangible rewards. Live4Well envisions a positive feedback loop where exercise leads to better health, and better health leads to tangible benefits, realizing the concept of “health as wealth.”
Pioneering the “Fitness Mileage” Concept: Earn Rewards for an Active Lifestyle
This inclusive program is open to users worldwide with zero barriers to entry. In just minutes, users can download the Live4Well mobile app and register for free access to the VIV Pass ecosystem. Initially, Sweat Points, the program’s reward currency, can be earned through three primary avenues:
(1) Daily Exercise — Users accumulate points by tracking steps and calories burned, turning daily workouts into rewarding experiences.
(2) Competition Participation — Points are awarded for participating in designated sporting activities, simply by uploading proof of participation.
(3) Health & Fitness Spending — Users can upload receipts for eligible purchases in the designated sports and wellness categories to earn additional Sweat Points.
Live4Well makes the benefits of exercise immediately tangible, converting effort into visible rewards. Accumulated Sweat Points can be redeemed for a variety of prizes, including cash vouchers, fitness products, and exercise classes. The Live4Well app also empowers users to track their fitness data and participate in engaging challenges.
Creating a Global Sharing Economy: A triple win for Users, Businesses, and the Industry
Live4Well‘s vision extends beyond simply creating a health management platform. The “exercise-to-earn” concept fosters a mutually beneficial ecosystem:
(1) User Benefits — VIV PASS motivates individuals to adopt and maintain healthy exercise habits through a rewarding system.
(2) Business Advantages — The platform connects businesses with their target audience through community engagement and strategic partnerships, driving more effective product promotion.
(3) Industry Transformation — By creating a “move-to-earn” economy, Live4Well stimulates consumer spending, transforming calorie expenditure into a quantifiable reward unit. This innovative approach empowers businesses to generate revenue, expand operations, and seamlessly connect the virtual and physical worlds.
Since its inception, Live4Well‘s fitness alliance ecosystem has continued to expand. With ongoing optimization of its operational framework, the VIV PASS ecosystem provides easy access and a tiered membership system, fostering a comprehensive wellness mechanism which stimulates consumer engagement, and builds a thriving global sharing economy.
To learn more, please visit: https://www.live4well.io
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