Blockchain
Elevators & Escalators Market worth $183.2 billion by 2026 – Exclusive Report by MarketsandMarkets™
According to the new market research report “Elevators & Escalators Market by Type (Elevators, Escalators, Moving walkways), Service (New installation, Maintenance & Repair, and Modernization), Elevator Technology (Traction, Machine-Room-Less, & Hydraulic), & End-use Industry – Global Forecast to 2026″, published by MarketsandMarkets™, the global Elevators and Escalators Market size is projected to grow from USD 134.4 billion in 2021 to USD 183.2 billion by 2026, at a CAGR of 6.4% from 2021 to 2026. The demand from the construction industry, rapid urbanization, and the rising number of high-rise buildings are some of the major drivers of the elevators & escalators market in emerging economies of the Asia Pacific region. This has contributed to an increase in the sales of these products. Growth in the market will also be driven by changing demographic trends, such as the rising aging population and increase in the middle-class population, which demand better living standards.
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In terms of value, the elevator type segment is estimated to lead the elevators and escalators market in 2020.
Elevator, by type, accounted for the largest market share in the elevators and escalators market. Elevators can be described as any platform, either open or enclosed, which is useful to lift people or freight to different floors within a building. The first elevator was operated by steam power. In 1871, the first hydraulic elevator was introduced. Hydraulic elevators used water pressure as the source of power. Since then, elevators have gained popularity, and the first commercially successful electric elevator was installed in 1889. The elevator car is constructed with a steel framework, which makes it both durable and strong. Even the sides of a passenger elevator car are made from steel sheets and are trimmed on the inside with decorative paneling. The flooring of an elevator car may be tiled or carpeted. There are several controls in an elevator, including alarm buttons and an emergency telephone. These functions are usually contained behind panels in the front of the car, next to the doors. There are several safety standards that are required to be met by elevator manufacturers.
In terms of value, new installation segment is estimated to be the fastest-growing segment in the elevators and escalators market.
The new installation is estimated to be the fastest-growing segment in the elevators and escalators market. The increasing number of high rises are an indicator of the economic growth of a country. These high-rise buildings include offices, malls, residential apartments, and hotels. In the absence of elevators & escalators, moving about in these buildings to reach the desired destinations would be feasible. Whenever a new building comes up, there is a need for new elevators. They help in the mobility of people and goods across the building. Owing to a rise in the number of these new buildings, the demand for elevators & escalators is being influenced directly. There are various types of elevators, such as passenger, freight, hospital, and observation elevators.
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The APAC region is projected to be the fastest-growing region in the elevators and escalators market during the forecast period.
The APAC region is projected to be the fastest-growing region in the elevators and escalators market in terms of both value and volume from 2021 to 2026. This region is witnessing the highest growth rate due to the rapid economic expansion. Increased construction spending, improved living standards, and rapid urbanization are the key drivers in the region. Asia Pacific countries are taking aggressive initiatives to upgrade commercial and institutional buildings. Many countries in the region took steps to implement low-carbon and IoT-based smart cities in recent years, thereby offering opportunities for the growth of the elevators & escalators market.
Schindler Group (Switzerland), Otis Elevator (US), Thyssenkrupp AG (Germany), KONE Corporation (Finland), and Hitachi Ltd. (Japan), amongst others, are the key players operating in the elevators and escalators market.
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Blockchain
Blocks & Headlines: Today in Blockchain – April 23, 2025 – EDPB, Binance, MicroCloud, Nile Coin, TruaBroker
Welcome to Blocks & Headlines, your daily op-ed–style briefing on the most significant developments in blockchain technology and the cryptocurrency industry. Today’s dispatch spotlights landmark privacy guidelines from the European Data Protection Board, Malaysia’s engagement with Binance’s founder to turbocharge digital finance, a groundbreaking blockchain reconstruction solution from MicroCloud Hologram, the impending launch of Nile Coin on Solana by Hyperscale Data’s subsidiary BitNile.com, and Trua’s AI-driven TruaBroker compliance platform. These stories underscore how regulation, infrastructure innovation, token launches, and compliance automation are shaping Web3’s next chapter.
1. EU’s Privacy Guardrails: EDPB Proposes Blockchain Data Access Guidelines
Source: Decrypt
The European Data Protection Board (EDPB) has published draft guidelines aimed at reconciling blockchain’s immutable architecture with GDPR’s privacy mandates. Key directives include avoiding on-chain storage of personal data when it conflicts with Data Protection by Design and by Default, conducting Data Protection Impact Assessments (DPIAs) for high-risk processing, and implementing organizational and technical measures to limit default data access to an “indefinite number of persons” Decrypt.
Op-Ed Insight:These guidelines mark a pivotal moment. By mandating privacy-by-design and off-chain anchoring of sensitive information, the EDPB effectively pressures projects to adopt hybrid architectures—where on-chain transparency coexists with off-chain confidentiality. While defenders of pure decentralization decry potential censorship, privacy advocates hail these guardrails as essential to prevent authoritarian misuse of immutable ledgers. Ultimately, projects that bake data protection into their smart contracts and storage layers will secure both regulatory compliance and user trust.
2. Malaysia Taps Binance’s CZ for a Blockchain Finance Overhaul
Source: Bitcoin News
Malaysian Prime Minister Anwar Ibrahim has initiated high-level discussions with Changpeng Zhao (CZ), Binance’s founder and former CEO, to position Malaysia as Southeast Asia’s preeminent hub for tokenization and digital finance. The dialogue focuses on leveraging blockchain to modernize capital markets, streamline cross-border payments, and foster regulatory sandboxes that attract global Web3 startups Beamstart.
Op-Ed Insight: Engaging CZ signals Malaysia’s ambition to leapfrog legacy financial architectures by importing Binance’s exchange expertise and compliance playbooks. Yet success hinges on crafting balanced regulations that encourage innovation without compromising investor protection. If Malaysia can marry CZ’s technical insights with proactive oversight—such as clear licensing pathways for decentralized exchanges—it could catalyze a shift in regional capital flows from traditional finance hubs like Singapore to Kuala Lumpur.
3. MicroCloud Hologram’s VSS-Powered Blockchain Reconstruction Solution
Source: PR Newswire
MicroCloud Hologram Inc. (NASDAQ: HOLO) unveiled an innovative blockchain reconstruction solution that employs Verifiable Secret Sharing (VSS) technology to split and distribute private key shares across distributed nodes. Four core components—VSS-based key sharding, redundant node storage, dynamic participant verification, and incentive-driven reward/penalty mechanisms—enable rapid, trustless restoration of blockchain data integrity following attacks or node failures PR Newswire.
Op-Ed Insight: As DeFi and on-chain finance proliferate, uninterrupted availability and data consistency have become paramount. MicroCloud’s VSS approach transforms reconstruction from a centralized recovery process into a decentralized protocol, minimizing reliance on any single custodian. This paradigm could redefine disaster-recovery benchmarks: imagine an exploited smart contract whose state is instantly rebuilt through pre-sharded secrets, preserving transactional continuity without manual key escrow.
4. BitNile.com to Launch Nile Coin on Solana Blockchain
Source: GlobeNewswire
Hyperscale Data, Inc. (NYSE American: GPUS) announced that its social gaming subsidiary BitNile.com will launch Nile Coin on Solana on May 1, 2025. Solana’s high throughput and low fees position it as an optimal platform for BitNile’s gaming ecosystems, where Nile Coin will fuel in-game economies, reward completions, and facilitate peer-to-peer transactions. Further details on tokenomics and utility are expected in the coming weeks GlobeNewswire.
Op-Ed Insight: While new token launches are ubiquitous, Nile Coin’s Solana-native design leverages one of the fastest blockchains for scalable micro-transactions—a critical requirement for social gaming. Success will depend on robust token utility, partnership integrations, and community incentives. If BitNile.com can embed Nile Coin across multiple entertainment verticals (e-sports, virtual concerts, NFTs), it could ignite a network-effect flywheel, bolstering both user engagement and on-chain liquidity.
5. TruaBroker: Automating Compliance with AI-Powered Trust Credentials
Source: PR Newswire (via Benzinga)
Trua, a leader in digital trust credentials, launched TruaBroker
, a cloud-based platform that automates compliance for broker-dealers and Registered Investment Advisors. Built on Trua’s patented Continuous Evaluation engine, TruaBroker delivers real-time monitoring of FINRA, SEC, and NFA records; identity verification; and continuous credential checks—all without IT integration. Its AI algorithms flag licensing gaps, disciplinary histories, and civil actions, enabling firms to maintain audit readiness and mitigate risk proactively Benzinga.
Op-Ed Insight: In an era when on-chain transactions intersect with regulated financial activities, seamless compliance is non-negotiable. TruaBroker’s model—issuing reusable, verifiable digital credentials anchored by blockchain—offers a blueprint for how KYC/AML processes can evolve into dynamic, trustless workflows. As DeFi platforms eye tokenized securities and on-ramps, integrating similar continuous-evaluation mechanics could become a competitive differentiator, blending self-sovereign identity with regulatory assurance.
Conclusion
Today’s headlines illustrate blockchain’s multifaceted evolution: from regulatory frameworks enforcing privacy and consumer rights, to infrastructure innovations that ensure resilience; from national strategies enlisting industry titans to drive tokenization, to platform launches forging new digital economies; and from compliance automation transforming institutional trust to AI-powered credentialing.
As the space matures, successful projects will be those that:
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Embed privacy and compliance by design—aligning with GDPR and global regulations.
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Invest in self-healing architectures—leveraging cryptographic primitives like VSS.
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Cultivate vibrant token ecosystems—anchored on high-performance chains.
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Adopt continuous, AI-driven governance—bridging the gap between Web3 innovation and traditional financial oversight.
Stay tuned to Blocks & Headlines for incisive commentary and daily updates on the blockchain stories that shape tomorrow’s decentralized future.
The post Blocks & Headlines: Today in Blockchain – April 23, 2025 – EDPB, Binance, MicroCloud, Nile Coin, TruaBroker appeared first on News, Events, Advertising Options.
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