Blockchain Press Releases
Asset Performance Management Market worth $4.7 billion by 2028 – Exclusive Report by MarketsandMarkets™
CHICAGO, Aug. 17, 2023 /PRNewswire/ — Predictive analytics, AI, and IoT will shape the Asset Performance Management (APM) market in the future by providing precise maintenance forecasts and data-driven decisions. APM will change as a result of the adoption of the cloud, the development of digital twins, and a focus on sustainability. Data security and cross-functional cooperation will be crucial in maximising asset performance and operational effectiveness.
The Asset Performance Management Market size is expected to grow from USD 2.9 billion in 2023 to USD 4.7 billion by 2028 at a Compound Annual Growth Rate (CAGR) of 9.9% during the forecast period, according to MarketsandMarkets. Demand for making informed business decisions with predictive asset maintenance is likely to boost the adoption of asset performance management globally.
Browse in-depth TOC on “Asset Performance Management Market”
287 – Tables
56 – Figures
265 – Pages
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Scope of the Report
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Report Metrics |
Details |
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Market size available for years |
2019–2028 |
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Base year considered |
2022 |
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Forecast period |
2023–2028 |
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Forecast units |
Value (USD Million/Billion) |
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Segments covered |
Component, Deployment Type, Organization Size, and Vertical |
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Regions covered |
North America, Europe, Asia Pacific, Middle East & Africa, and Latin America |
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Companies covered |
AVEVA, SAP, GE Digital, IBM, ABB, Emerson, Bentley Systems, Rockwell Automation, Fluke, DNV, Siemens Energy, Hexagon, Oracle, Honeywell, Yokogawa, SAS AB, Arms Reliability, Tenna, MaintainX, Nexus Global. Synopsys, Detechtion Technologies, UpKeep, MentorAPM, Fracttal, Prometheus Group, MicroAI, IPS Intelligent Process Solutions, Qualer, Plasma, VROC, and Operational Sustainability |
By solutions, the predictive asset management segment to grow at the highest CAGR during the forecast period.
Predictive asset maintenance is a type of maintenance that monitors the condition of assets using sensors. These sensors supply real-time data, which can be used to predict the timeline for asset maintenance, preventing equipment failure. It is a method used for preventing asset failures by analyzing the production data to identify patterns and predict issues before occurrence. Predictive asset maintenance further allows the maintenance frequency to be as low as possible to prevent unplanned reactive maintenance without incurring costs associated with performing several preventive maintenance activities. Predictive Asset Analytics helps organizations gain the highest return on critical assets by supporting PdM programs with early warning detection of equipment issues ahead of the existing operational alarms.
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By vertical, manufacturing vertical is expected to hold the largest market share in 2023.
Asset-intensive organizations across the manufacturing vertical with heavy machinery are seeking to make their operations more efficient, reliable, and safer. Deploying AI and the IIoT within a process manufacturing environment can deliver a number of business benefits for companies with asset performance management capabilities. More manufacturers are adopting digital transformations through IIoT technology, with the move from metrics to analytics leading the way. The manufacturing sector has seen a variety of new analytics applications launched over the past three to five years, including a strong focus on asset performance management and other maintenance-related processes. Asset performance management solutions provide near real-time visibility into the condition of each industrial asset, which enables maintenance teams to minimize downtime.
By Region, Asia Pacific is expected to grow at the highest CAGR during the forecast period.
Asia Pacific is among the major digital hubs of the world. Businesses in the region have been quick to identify the benefits of cloud technology as a facilitator of digital transformation. Countries such as China, Japan, Australia, Singapore, India, and Indonesia are leading this technology adoption, which includes embracing new-age technologies such as AI, edge, IIoT, analytics, and cloud. According to the Global System for Mobile Communications Association (GSMA), countries in Asia Pacific have established frameworks on a national level, recognizing the potential of Industry 4.0 to help prepare economic structures for greater productivity and resilience. This will be crucial in the efforts by governments to stimulate economic recovery and build resilient economies for the future. Most government agencies and industry players expect Industry 4.0 objectives to be delivered within the next five years. This will rely on effective regulatory frameworks, such as making a new spectrum available for enhanced connectivity and increasing innovations in new solutions leveraging AI, IIoT, ML, AR, and digital twin technologies.
Top Key Companies in Asset Performance Management Market:
Some of the key players operating in the Asset Performance Management Market are – AVEVA (UK), SAP (Germany), GE Digital (US), IBM (US), ABB (Switzerland), Emerson (US), Bentley Systems (US), Rockwell Automation (US), Fluke (US), and DNV (Norway).
Recent Developments:
- In January 2023, Schneider Electric acquired AVEVA. This deal would enable both the entities a holistic approach to digital transformation across industrial operations, while reducing energy, carbon, and resource intensity. While AVEVA will henceforth be wholly owned and part of Schneider Electric, it is intended that AVEVA’s business autonomy and future R&D investment will be preserved going forward, thereby helping to meet increasing demand for a stronger portfolio of solutions.
- In July 2021, GE Digital partnered with Airbus and Delta TechOps to bring support with its best-in-class predictive analytics software. With GE Digital’s added analytics capabilities and systems portfolio, covering Airbus and non-Airbus OEM aircraft, airlines will further benefit from cross-fleet health monitoring and diagnostics, reliability analysis, and PdM analytics.
- In June 2021, Bentley Systems recently acquired SPIDA Software, developers of specialized software for the design, analysis, and management of utility pole systems. The integration of SPIDA within Bentley Systems OpenUtilities engineering software, PowerView, and grid digital twin cloud services will help address the challenges of transitioning to new renewable energy sources, including for electric vehicle charging, of joint usage of utility poles to support broadband networks’ 5G expansion, and of modernizing and hardening the electric grid to maintain reliability and resilience.
- In May 2021, AVEVA partnered with Maire Tecnimont Group. This partnership will extend usage of AVEVA’s Asset Performance Management (APM) solutions across the Maire Tecnimont Group, globally, thereby enhancing plant operability and lowering maintenance costs. This in turn will deliver increased information availability empowering better, more informed decision-making, and subsequently improving overall business performance. As part of the agreement, the two companies will work together over a year on a defined number of customer projects so as to promote the application of predictive maintenance technology for critical plant assets.
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Asset Performance Management Market Advantages:
- By examining current data, past trends, and performance metrics, APM systems assist in foreseeing and averting equipment breakdowns. This pro-active strategy reduces unscheduled downtime, raises asset availability, and boosts overall operational effectiveness.
- APM assists organisations in decreasing operational and maintenance costs by minimising downtime, eliminating unexpected failures, and optimising maintenance schedules. Businesses are able to switch from reactive maintenance to techniques for predictive and preventive maintenance, which eventually results in cost savings.
- APM gives organisations insights into asset performance, allowing them to spot underperforming assets and take appropriate action. This leads to better resource allocation, enhanced production capacity, and improved asset utilisation.
- Organisations can track the performance and health of their assets with the aid of APM solutions. Organisations can increase the lifespan of their assets and postpone the need for pricey replacements or significant repairs by spotting and fixing problems early on.
- APM tools can aid in making sure that assets are maintained in line with industry standards and safety laws. Businesses may prevent accidents and stay out of legal trouble by recognising potential safety concerns and assuring compliance.
- APM solutions optimise maintenance schedules using data-driven insights. This saves time and resources by reducing pointless maintenance tasks and extending the intervals between significant maintenance operations.
- Data analytics and visualisations are offered by APM platforms to support data-driven decision-making. Decisions regarding when to carry out maintenance, when to replace assets, and how to deploy resources efficiently can be made by organisations.
- Real-time asset monitoring is made possible by the integration of APM solutions with Internet of Things (IoT) gadgets and sensors. A thorough understanding of asset performance and health is provided by the analysis of this data coupled with previous data.
Report Objectives
- To define, describe, and forecast the global Asset Performance Management Market based on component (solutions and services), deployment type (on-premises and cloud), organization size (large enterprises and SMEs), vertical (energy & utilities, manufacturing, government & defense, chemicals, telecommunications, healthcare & pharmaceuticals, consumer goods, food & beverages, and other verticals), and region.
- To forecast the market size of the five major regional segments: North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America
- To provide detailed information related to the major factors influencing the growth of the market (drivers, restraints, opportunities, and challenges)
- To strategically analyze macro and micromarkets with respect to growth trends, prospects, and their contributions to the overall market
- To analyze industry trends, patents & innovations, and pricing data related to the Asset Performance Management Market.
- To analyze the opportunities in the market for stakeholders and provide details of the competitive landscape for major players.
- To profile key players in the market and comprehensively analyze their market share/ranking and core-competencies.
- To track and analyze competitive developments, such as mergers & acquisitions, new product launches, product enhancements, and partnerships & collaborations in the market.
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Welcome to Blocks & Headlines, your daily deep-dive into the most impactful movements in blockchain technology and the cryptocurrency sector. In today’s edition, we unpack five major stories that illuminate trends in funding, sustainability, payment innovation, banking collaborations, and technical interoperability—all vital signposts for developers, investors, and Web3 enthusiasts. Here’s what’s on the docket:
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Camp Network’s New IP-Focused Testnet
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Blockchain for Sustainable Packaging
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Meta’s Blockchain-Based Payment System Plans
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Mocse Credit Union Joins Metal Blockchain’s Innovation Program
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Apex Fusion on the Urgency of Blockchain Defragmentation
Through concise reporting, opinion-driven analysis, and SEO-optimized insights—featuring keywords like blockchain, cryptocurrency, Web3, DeFi, and NFTs—we’ll explore how these developments shape the next wave of decentralized finance, enterprise adoption, and mass onboarding.
1. Camp Network Launches Testnet for IP-Focused Blockchain
What Happened:
Camp Network has unveiled its long-anticipated testnet following a $30 million funding round led by leading crypto VCs. This new network is tailored for intellectual property (IP) asset tokenization, aiming to streamline rights management and royalty payments via smart contracts.
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Technical Highlights:
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Modular Consensus: Hybrid PoS/PoA consensus that allows IP rightsholders to validate transactions.
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On-Chain Licensing: Smart contracts enabling programmable licensing terms, automated royalty splits, and revocable access controls.
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Interoperability: Bridges to Ethereum and Polygon enable seamless asset transfers and liquidity provisioning.
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Analysis & Implications:
By focusing on IP tokenization, Camp Network addresses a glaring gap in current NFT platforms, which often lack robust legal-framework integration. This specialization could catalyze:
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New Revenue Models: Musicians, authors, and inventors can fractionalize royalties, unlocking liquidity and democratizing investment in creative works.
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Institutional Adoption: Traditional publishers and studios may pilot tokenized licensing, accelerating blockchain’s entrée into regulated industries.
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Secondary Markets: With on-chain licensing data, marketplaces can enforce provenance and anti-fraud measures more effectively.
Camp Network’s testnet success will hinge on developer tooling, legal partnerships, and gas-fee economics. Should it deliver a smooth UX and clear ROI for rightsholders, it could set a new standard for Web3 IP infrastructure.
Source: The Block
2. Blockchain as a Sustainable Packaging Game-Changer
What Happened:
A recent report explores how blockchain can revolutionize sustainable packaging by delivering end-to-end supply-chain transparency. The solution combines on-chain tracking of materials, IoT sensor data for carbon footprint measurement, and tokenized incentives for recycling.
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Key Components:
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Immutable Traceability: Each packaging component is logged on a public ledger, enabling consumers to verify sustainable sourcing.
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Carbon Credit Tokens: Brands earn tokenized credits when they hit recycling targets, tradable on carbon-market DAOs.
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Consumer-Facing Apps: QR-code scanning interfaces reveal environmental impact metrics and reward programs.
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Analysis & Implications:
Integrating blockchain with sustainable packaging tackles greenwashing and fragmented reporting. The ability to tie physical materials to on-chain records introduces:
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Enhanced Accountability: Brands face real-time public scrutiny of ESG claims, improving trust and regulatory compliance.
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Market Mechanisms: Carbon credit tokens linking packaging to broader DeFi ecosystems incentivize circular economy behaviors.
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Consumer Engagement: NFTs or loyalty tokens tied to sustainable purchases could accelerate brand loyalty in eco-conscious demographics.
This convergence of blockchain, IoT, and token economics exemplifies how decentralized technologies can underpin not only financial systems but also planetary stewardship.
Source: Yahoo Finance
3. Meta Plans New Blockchain-Based Payment System
What Happened:
Meta is reportedly developing a blockchain-powered payment network to underpin its digital wallet ambitions, aiming to facilitate low-fee remittances, in-app purchases, and peer-to-peer transfers across Facebook, Instagram, and WhatsApp.
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Proposed Features:
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Cross-Border Settlements: Utilizing stablecoins pegged to major fiat currencies to avoid volatility.
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Layer-2 Scalability: Built atop an Ethereum Layer-2 or a proprietary chain to ensure sub-second confirmation times and minimal fees.
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Regulatory Compliance: On-chain KYC/AML checks integrated via permissioned sidechains.
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Analysis & Implications:
Meta’s push into blockchain payments could reshape the competitive landscape:
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Crypto On-Ramp: With 3 billion+ monthly users, built-in wallet functionality could massively expand mainstream cryptocurrency adoption.
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Disintermediation Risk: Traditional payment processors and remittance services face margin compression as Meta internalizes transaction flows.
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Regulatory Scrutiny: Centralized control of a global payments network raises data-privacy and antitrust questions, likely attracting significant oversight.
If Meta balances decentralization ethos with compliance demands, it could serve as a blueprint for other Big Tech firms eyeing Web3 integration.
Source: Dig.watch
4. Mocse Credit Union Joins Metal Blockchain’s Banking Innovation Program
What Happened:
Mocse Credit Union has signed on to Metal Blockchain’s Banking Innovation Program, a consortium designed to accelerate pilot projects in tokenized lending, fractional deposits, and programmable savings accounts.
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Program Benefits:
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Sandbox Environment: Regulatory-compliant testbeds for tokenized asset experiments.
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API Integrations: Plug-and-play modules for KYC, smart-contract auditing, and fiat-crypto on-ramps.
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Co-Innovation Workshops: Joint labs with fellow financial institutions and DeFi projects.
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Analysis & Implications:
This partnership signals the banking sector’s growing willingness to explore blockchain beyond hype:
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Tokenized Deposits: By issuing interest-bearing stablecoin equivalents, credit unions can attract a new demographic of digitally native savers.
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Risk Management: Sandboxed pilots allow institutions to evaluate smart-contract risks without exposing core systems.
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Interoperable Finance: Aligning legacy banking with DeFi rails can unlock hybrid products—e.g., flash loans collateralized by insured deposits.
Such collaborations could spearhead a wave of embedded finance offerings, blurring the lines between centralized and decentralized banking infrastructures.
Source: Newswire
5. Apex Fusion: Defragmenting Blockchain for Mass Adoption
What Happened:
In an op-ed, Apex Fusion argues that blockchain interoperability and defragmentation are critical prerequisites for mainstream Web3 uptake. The piece advocates standardized cross-chain messaging protocols, unified identity layers, and aggregated liquidity pools.
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Core Proposals:
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Protocol Neutral Messaging: A universal middleware to transmit value and data across disparate chains.
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Decentralized Identity (DID): A shared credential framework enabling seamless dApp logins without wallet-hopping.
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Liquidity Hubs: Cross-chain Automated Market Makers (AMMs) that pool assets to reduce slippage and gas friction.
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Analysis & Implications:
A fragmented blockchain ecosystem hinders user experience and developer efficiency:
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Onboarding Friction: New users face wallet complexity, chain-switching hassles, and inconsistent UX across apps.
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Capital Inefficiency: Isolated liquidity silos lead to higher trading costs and limit DeFi yield optimization.
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Developer Overhead: Building multichain dApps requires fragmented toolkits and disparate security audits.
Solving these challenges through interoperable frameworks will be pivotal for DeFi, NFT, and enterprise Web3 solutions to scale beyond niche audiences. Apex Fusion’s recommendations may inform upcoming standards efforts by bodies like the Blockchain Governance Initiative Network (BGIN).
Source: Euro Weekly News
Conclusion
Today’s blockchain developments reflect a maturing industry at the crossroads of innovation and integration:
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Specialized Networks: Camp Network’s IP testnet showcases niche use-cases driving targeted blockchain deployments.
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Sustainability & Token Economics: Linking environmental impact to on-chain incentives demonstrates blockchain’s potential in non-financial arenas.
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Big Tech Entry: Meta’s payment ambitions could accelerate global crypto adoption while raising regulatory stakes.
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Banking Collaboration: Programs like Metal Blockchain’s underscore financial institutions’ appetite for safe, regulated Web3 experimentation.
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Interoperability Imperative: As Apex Fusion highlights, defragmentation and cross-chain standards are essential for seamless UX and liquidity flow.
As blockchain weaves deeper into finance, supply chains, and digital ecosystems, the future hinges on striking the right balance between decentralization, compliance, and user-centric design. Stay tuned for tomorrow’s Blocks & Headlines where we continue to chronicle the pulse of Web3 innovation.
The post Blocks & Headlines: Today in Blockchain – May 9, 2025 appeared first on News, Events, Advertising Options.
Blockchain Press Releases
Bybit Surpasses 70 Million Users, Reinforces Commitment to Transparency and Institutional Growth
DUBAI, UAE, May 9, 2025 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, today announced it has surpassed 70 million registered users, a milestone that highlights the platform’s sustained global growth and deepening trust among both retail and institutional clients. This achievement underscores Bybit’s robust market presence and its steadfast commitment to security, compliance, and product innovation.
“Reaching 70 million users is more than a number—it’s a testament to the trust our global community places in us,” said Ben Zhou, co-founder and CEO of Bybit. “We are doubling down on compliance, institutional-grade infrastructure, and user-centric innovation to ensure everyone—from first-time traders to global institutions—can access the future of finance with confidence.”
Strengthening Global Compliance and Regulatory Engagement
Bybit continues to expand its global compliance framework, working closely with regulators around the world. Most recently, Bybit held strategic discussions with Vietnam’s Ministry of Finance, contributing to the country’s regulatory sandbox initiative by sharing expertise in KYC, AML, and international best practices.
Bybit has also made key progress in major jurisdictions, including the United Arab Emirates, further demonstrating its commitment to regulatory alignment and operational transparency.
Accelerating Institutional Growth
Bybit is seeing rapid growth among institutional clients, driven by high-performance trading infrastructure, advanced risk controls, and strategic partnerships. The integration with Zodia Custody—a leading provider of institutional-grade custody and off-venue settlement solutions—reflects Bybit’s ongoing efforts to meet the needs of sophisticated investors with robust, compliant offerings.
Pioneering Web3 Integration and Real-World Utility
Bybit continues to lead in practical Web3 innovation. The Bybit Card, now used by nearly 2 million people, enables everyday crypto spending, while Bybit Pay streamlines on-chain and off-chain transactions for both users and merchants.
In line with its user-first philosophy, Bybit is also leveraging artificial intelligence to enhance trading, research, and support services. CryptoLens, an in-house AI analytics tool, offers users deep insights into token fundamentals, community activity, social trends, and tokenomics—even for projects not listed on the platform. TradeGPT, an AI agent trained on Bybit’s proprietary data, delivers rapid price action summaries and technical analysis, helping traders make smarter decisions. Complementing these innovations, an AI Support Agent enhances customer service by improving response efficiency and user experience across the platform.
Bridging Traditional Finance and the Future of Digital Assets
Bybit remains committed to its role as #TheCryptoArk—a safe, trusted bridge from traditional finance into the world of Web3. Through intuitive products, regulatory collaboration, and cutting-edge technology, Bybit empowers users of all levels to navigate and thrive in the digital asset ecosystem.
“We’re building the infrastructure for the next era of finance,” Ben added. “By championing regulation, professionalism, and a relentless user-first approach, we’re shaping a safer, more inclusive, and more empowering financial future for all.”
#Bybit / #TheCryptoArk
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 70 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
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Blockchain Press Releases
Unleashing the Power of Futures Combo Bots on Bybit: Leveling up Futures Trading with More Rewards
DUBAI, UAE, May 9, 2025 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, Futures Combo Carnival, a month-long trading event rewarding both new and experienced Futures Combo traders with multiple rewards tracks. Trading thresholds start at 300 USDT with rewards of up to 500 USDT in prizes weekly.
The largest Futures Combo campaign on Bybit to date, the Carnival gives traders even more reasons to make their futures trading journey hassle-free and more rewarding. Bot-enabled automated trading is becoming the norm among strategic traders in a turbulent market, where no traders can afford manmade mistakes or delays in execution.
Bybit’s Futures Combo Bot is a powerful tool for streamlining users’ futures trading experience, empowering them to build portfolios and rebalance positions across multiple futures contracts. The innovative solution allows traders to set up a Bot within minutes, minimizing manual management of complex trading strategies, and achieving both efficiency and flexibility when managing combos of futures contracts.
From now to Jun. 9, 2025, eligible Bybit users may take part in two events with a welcome bonus for first-time users:
- The Combo Battle offers newcomers who achieve a trading volume of 300 USDT an immediate 5 USDT Bot Bonus on a first-come, first-served basis, while experienced traders can earn lucky draw tickets by reaching volume milestones of 1,000 USDT and 2,500 USDT respectively using Bybit’s Futures Combo Bot.
- The Combo Challenge invites Mandarin-speaking Key Opinion Leaders to create and share their trading strategies on social media using the hashtag #ComboChallenge, with three weekly winners receiving 500 USDT each.
Bybit is committed to making futures trading more accessible to users looking to diversify their trading strategies. With rewards designed for both newcomers and experienced traders, this event strengthens community engagement while supporting users wherever they are on their trading journey. For more details and terms and conditions, users may visit: Bybit Futures Combo Carnival
#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]
For updates, please follow: Bybit’s Communities and Social Media
Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube
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