Blockchain Press Releases
Power Management System Market worth $7.5 billion by 2028 – Exclusive Report by MarketsandMarkets™
CHICAGO, July 20, 2023 /PRNewswire/ — Power Management System Market is projected to reach USD 7.5 billion in 2028 from USD 5.8 billion in 2023 at a CAGR of 5.4% according to a new report by MarketsandMarkets™. Power Management System (PMS) is a set of hardware and software components designed to optimize and control the distribution and consumption of electrical power within a given system or facility. It plays a crucial role in modern power systems to ensure efficient energy utilization, reduce waste, and enhance overall system reliability and stability.
Browse in-depth TOC on “Power Management System Market“
162 – Tables
57 – Figures
180 – Pages
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Power Management System Market Scope:
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Report Coverage  |
Details |
|
Market Size |
USD 7.5 billion in 2028 |
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Growth Rate |
5.4% of CAGR |
|
Largest Market |
North America |
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Market Dynamics |
Drivers, Restraints, Opportunities & Challenges |
|
Forecast Period |
2024-2028 |
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Forecast Units |
Value (USD Billion) |
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Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
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Segments Covered |
Type, Module, End User Industry, and Region |
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Geographies Covered |
Asia Pacific, North America, Europe, Middle East & Africa, and South America |
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Report Highlights |
Updated financial information / product portfolio of players |
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Key Market Opportunities |
Rise in distributed power generation |
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Key Market Drivers |
Increasing demand for energy efficiency |
Power Monitoring and Control, by module, is expected be the largest market during the forecast period.
Based on module, the Power Management System Market has been split into Power Monitoring & Control, Load Shedding & Management, Energy Cost Accounting, Switching & Safety Management, Power Simulator, Generator Controls, Data Historian, and Others. The Power Monitoring and Control module is a critical component within a Power Management System (PMS) that focuses specifically on real-time monitoring, analysis, and control of electrical power parameters in a given system or facility. This module plays a vital role in ensuring efficient power distribution, optimizing energy usage, and maintaining system reliability and stability. These benefits in various applications is driving the market.
The Services, by type is expected to be the fastest segment during the forecast period
Based on Type, the Power Management System Market has been split into hardware, software, and services. The Power Management System (PMS) market offers a wide range of services aimed at providing efficient, reliable, and sustainable management of electrical power in various sectors and applications. These services cater to the needs of industries, commercial buildings, data centers, smart grids, and other entities seeking to optimize power consumption, reduce energy costs, and enhance overall power system performance. PMS service providers often offer training and support services to end users, ensuring that their staff is proficient in using the system and maximizing its benefits. These benefits are driving the market.
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Asia Pacific is expected to be the second largest region in the Power Management System Industry
Asia Pacific is expected to be the second largest Power Management System Market during the forecast period. Extensive LNG projects and growing investments in manufacturing and chemicals & petrochemicals industries are the primary drivers of the market in this region. Due to its large-scale industrial sector and the world’s highest per capita energy consumption, the region has tremendous energy requirements. This is creating demand for the generators in the market.
Key Market Players:
Some of the major players in the Power Management System Companies are ABB (Switzerland), Siemens (Germany), Schneider Electric (US), General Electric (US), Emerson Electric (US). The major strategies adopted by these players include acquisitions, sales contracts, product launches, partnerships.
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Recent Developments
- In June 2023, Eve Systems GmbH, a Munich-based company known for its smart home products in Europe and the United States, has been successfully acquired by ABB. With this acquisition, ABB will now establish itself as a prominent player in the smart home industry, particularly in products based on the latest interoperating standard called Matter and wireless connectivity technology known as Thread.
- In June 2022, GE Digital has introduced the Accelerator product line, which consists of exceptional software tools. These tools aim to assist companies operating in energy industries with significant assets by facilitating the configuration of their Asset Performance Management (APM) and other solutions. The GE Digital Accelerators are specifically developed to enhance the speed at which companies can realize value, expand the implementation of APM to various assets, and enable enterprises to generate financial benefits throughout their facilities and across the entire organization.
- In October 2021, Siemens Smart Infrastructure has successfully finalized the purchase of Wattsense, a French startup specializing in hardware and software solutions. Wattsense provides a cutting-edge, plug-and-play IoT management system designed for small and mid-size buildings.
- In September 2022, In India, Schneider Electric has introduced EcoStruxure Service Plans, a fresh service offering. The objective of this launch is to provide comprehensive packages accompanied by robust digital services customized to meet specific customer requirements. With this new service offering, Schneider Electric aims to enhance its customers’ maintenance budgets by up to 40% and reduce the risk of electrical failures by up to 75% on connected equipment.
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Blockchain Press Releases
Markets Show Resilience Ahead of End-of-Year Options Expirations: Bybit x Block Scholes Crypto Derivatives Report
DUBAI, UAE, Dec. 26, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, released the latest Crypto Derivatives Analytics Report in collaboration with Block Scholes, highlighting the muted market volatility despite major options expirations on Friday. BTC and ETH’s realized volatility has increased, but short-term options haven’t adjusted to this change. This indicates that while spot prices are fluctuating, the options market is not fully reacting to these shifts, although BTC and ETH volumes have displayed slightly different patterns.
With more than $525 million in BTC and ETH options contracts expiring on Dec 27, 2024’s end-of-year options expiration looks set to be one of the biggest yet, yet expectations for volatility have remained subdued. The report highlights an unusual inversion in ETH’s volatility structure, but BTC has not mirrored the reaction. Additionally, a change in funding rates—sometimes turning negative as spot prices drop—signals a new market phase. Notably, BTC’s volatility structure has been less responsive to changes in spot prices, whereas ETH’s short-term options are exhibiting more noticeable fluctuations.
Key Findings:
BTC Options Expirations:
In the past month, BTC’s realized volatility has been higher than implied volatility on three occasions, each time reaching a relatively calm equilibrium. Open interest in BTC options remains high, contributing to potential increased volatility as we near the end of the year. Around $360 million worth of BTC options (both puts and calls) are set to expire soon, which can affect price movement.
ETH Options: Calls Dominate
Despite a mid-week inversion, ETH’s volatility term structure has flattened, maintaining levels similar to those seen over the past month. In the final week of 2024, calls overwhelmed puts in open interest in ETH options, although market movements and trading activities are more on the put side.
Access the Full Report:
Gain deeper insights and explore the potential impacts on your crypto trading strategies by downloading the full report here: Bybit X Block Scholes Crypto Derivatives Analytics Report (Dec 24, 2024)
#Bybit / #BybitResearch
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.
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NICOSIA, Cyprus, Dec. 26, 2024 /PRNewswire/ — BC.GAME has launched its latest slot game, Wukong, inspired by the highly acclaimed Black Myth: Wukong, a groundbreaking AAA game that has captivated players worldwide. Officially released on December 24, this 6-reel, 5-row slot game allows players to experience the essence of Wukong’s legendary journey while aiming for rewards of up to 10,000 times their bet.
The game incorporates iconic symbols and elements from Black Myth: Wukong, such as the Ruyi staff, gourd bottles, and treasure pearls, designed to recreate the mythical atmosphere of the original story. The addition of the Sticky Symbols feature enhances gameplay by keeping special symbols locked in place during free spins, significantly increasing the chances of winning and unlocking larger rewards.
Dark Visual Design and Storytelling Behind Wukong
The visual design of Wukong draws from traditional Chinese art styles, blending elements from Journey to the West. The reels are filled with recognizable symbols like the Ruyi staff, gourd bottles, and treasure pearls. These symbols immerse players in the mythical world of the story, faithfully recreating key moments from the novel, such as Sun Wukong’s havoc in Heaven and his encounters with the White Bone Demon.
The game’s background is rooted in Journey to the West, where Sun Wukong embarks on a journey with the monk Tang Seng and his companions to obtain sacred scriptures. Each detail of the game is carefully crafted to bring this legendary tale to life, offering a unique gaming experience and a tribute to Chinese culture and mythology.
Key Features of the Wukong Slot Game:
Free Spins and Bonus Opportunities: Triggering free spins unlocks additional reward mechanisms, increasing the chances of landing big wins.
Sticky Symbols Feature: Special symbols remain in place during free spins, greatly enhancing winning potential.
Up to 10,000x Max Win: The game offers a maximum payout of up to 10,000 times the bet, providing significant winning opportunities.
“Wukong is not just about spinning reels; it’s about experiencing a rich part of Chinese culture. We’ve worked hard to ensure the game is stunning and fun and engaging for players, with layers of features that add excitement. We’re proud to offer a game that blends storytelling with gameplay, and we think players will love the journey through Wukong’s legendary world,” Jack Dorset, CEO of BC.GAME said.
About BC.GAME
BC.GAME is a leading online gaming platform that integrates blockchain technology and cryptocurrency into its casino games, by offering a secure, transparent, and decentralized experience, BC.GAME allows players to enjoy a variety of gaming options, including slots, table games, and live casino offerings. The platform is dedicated to providing players with exciting, fair, and innovative ways to engage with the world of gaming. citing, fair, and innovative ways to engage with the world of gaming.
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Blockchain Press Releases
WSPN Appoints Former EY Global Chief Innovation Officer Jeff Wong as Independent Director
SINGAPORE, Dec. 26, 2024 /PRNewswire/ — Worldwide Stablecoin Payment Network (WSPN), a leading stablecoin infrastructure company, announces the appointment of Jeff Wong as Independent Director. Mr. Wong brings over 25 years of experience in technology innovation and enterprise transformation to WSPN. He most recently served as EY’s Global Chief Innovation Officer from 2015 to 2024, where he spearheaded the firm’s global innovation initiatives and established EY’s advanced technology labs focusing on Artificial Intelligence, Blockchain, Quantum Computing, and Web3.
Prior to EY, Mr. Wong held leadership roles at eBay and JPMorgan Partners. He is a member of the Council on Foreign Relations, the Forbes Technology Council, and the founding Chair of Asia Society’s Technology and Innovation Council, helping drive the innovation and transformation agenda. He was also a member of the World Economic Forum’s Global Future Council on Innovation Ecosystems. He has previously served on the Oxford Foundry Board at Oxford University and the Advisory Board for AI4All. Mr. Wong is a recipient of the Outstanding 50 Asian Americans in Business award and an honoree of the A100 List by Gold House, recognizing individuals with Asian Pacific heritage who have made a significant impact on American culture and society.
“Joining WSPN at this pivotal moment in the stablecoin industry is incredibly exciting,” said Mr. Wong. “I look forward to contributing my experience in emerging technologies and enterprise transformation to help WSPN build the next generation of digital payment infrastructure.”
“Jeff’s appointment represents a significant strategic addition to WSPN,” said Raymond Yuan, Founder and CEO of WSPN. “His deep expertise in innovation management, enterprise transformation, and emerging technologies, combined with his leadership experience at global institutions, will be invaluable as we accelerate our market expansion and global development.”
About WSPN
WSPN is a leading provider of next-generation stablecoin infrastructure, committed to building a more secure, efficient, and transparent payment solution for the global economy. Their flagship product, WUSD stablecoin, is pegged 1:1 to the U.S. Dollar and aims to optimize secure digital payments for Web3 users. WSPN’s Stablecoin 2.0 approach prioritizes user-centricity, community governance, and accessibility, paving the way for widespread stablecoin adoption.
Learn more: www.wspn.io | X | LinkedIn
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