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Motors and Drives Services Market size is set to grow by USD 2.35 billion from 2024-2028, Increasing demand for servo motors and brushless motors boost the market, Technavio

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NEW YORK, June 26, 2024 /PRNewswire/ — The global motors and drives services market size is estimated to grow by USD 2.35 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of almost 2.24%  during the forecast period. Increasing demand for servo motors and brushless motors is driving market growth, with a trend towards technological advances in electric drives. However, intense competition among vendors  poses a challenge. Key market players include ABB Ltd., Danfoss AS, Delta Electronics Inc., Fuji Electric Co. Ltd., Integrated Power Services LLC, Lenze SE, Mitsubishi Electric Corp., Nidec Corp., OMRON Corp., Regal Rexnord Corp., Rockwell Automation Inc., SEW EURODRIVE GmbH and Co KG, Siemens AG, Toledo Engineering Co. Inc., Toshiba Corp., WEG Equipamentos Eletricos S.A., Wolong Electric Group Co. Ltd., Yaskawa Electric Corp., and Yokogawa Electric Corp..

Get a detailed analysis on regions, market segments, customer landscape, and companies- View the snapshot of this report

Motors And Drives Services Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 2.24%

Market growth 2024-2028

USD 2355.9 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

2.17

Regional analysis

APAC, Europe, North America, South America, and Middle East and Africa

Performing market contribution

APAC at 44%

Key countries

China, US, Germany, Japan, and UK

Key companies profiled

ABB Ltd., Danfoss AS, Delta Electronics Inc., Fuji Electric Co. Ltd., Integrated Power Services LLC, Lenze SE, Mitsubishi Electric Corp., Nidec Corp., OMRON Corp., Regal Rexnord Corp., Rockwell Automation Inc., SEW EURODRIVE GmbH and Co KG, Siemens AG, Toledo Engineering Co. Inc., Toshiba Corp., WEG Equipamentos Eletricos S.A., Wolong Electric Group Co. Ltd., Yaskawa Electric Corp., and Yokogawa Electric Corp.

Market Driver

The global motors and drives services market is witnessing growth due to the increasing demand for energy-efficient solutions. Traditional AC drives utilize additional equipment like active front-end rectifiers and multi-purpose transformers to mitigate harmonics, leading to increased wiring, space, and cost requirements. To address this challenge, vendors are adopting matrix design in AC drives, eliminating the need for a DC bus and bypassing harmonic production. Regenerative capabilities in electric drives, such as Yaskawa Electric Corp.’s R1000 Regenerative Unit and ABB Ltd.’s ACS880, enable the diversion of regenerated power back to the power source, optimizing energy utilization and reducing penalty charges. The focus on energy efficiency and regenerative capabilities is expected to fuel market growth during the forecast period. 

The Motors and Drives Services market is experiencing significant growth, with a focus on upgrades and modernization. Performances and efficiencies are key trends, as businesses seek to improve productivity and reduce downtime. Producers of motors and drives are investing in research and development to create more efficient and durable products. Consumers are looking for condition monitoring and predictive maintenance solutions to prevent equipment failure. The use of automation and digitalization is increasing, with the implementation of IoT technologies and data analytics. Additionally, the demand for sustainable and energy-efficient solutions is driving innovation in the market. Overall, the Motors and Drives Services market is evolving to meet the changing needs of businesses and industries. 

Research report provides comprehensive data on impact of trend. For more details- Download a Sample Report

Market Challenges

The global motors and drives services market is fragmented due to numerous vendors offering maintenance and retrofitting services. Price is a significant factor for buyers, who prefer cost-effective options that meet regulatory standards. China’s market consists of affordable small vendors, attracting investments due to low labor, land, and raw material costs. End-users seek cost-effective machines and solutions. Price-sensitive customers challenge OEMs, prompting them to partner with economical service providers. To tackle costs, global vendors are considering mergers and acquisitions for market expansion in APAC. However, this expansion may negatively impact local small- and medium-scale vendors, potentially hindering market growth.The Motors and Drives Services market faces several challenges. Consumption of motors and drives is essential in various industries such as manufacturing, automotive, and energy. However, the increasing use of renewable energy sources and energy efficiency regulations pose challenges to the market. Additionally, the high cost of advanced technologies like permanent magnet motors and variable frequency drives can be a barrier to entry for some businesses. Furthermore, the global supply chain disruptions due to the pandemic have affected the market’s growth. Lastly, the need for customized solutions and the short product lifecycle add to the complexity of the market. Companies must address these challenges to remain competitive and meet the evolving demands of their customers.

For more insights on driver and challenges – Request a sample report!

Segment Overview 

This motors and drives services market report extensively covers market segmentation by  

Product 1.1 Motors1.2 DrivesEnd-user 2.1 Process industry2.2 Discrete industryGeography 3.1 APAC3.2 Europe3.3 North America3.4 South America3.5 Middle East and Africa

1.1 Motors-  The motors and drives services market is driven by the integral role motors play in discrete and process industries, particularly in energy-intensive sectors like pulp and paper. With frequent servicing needs in harsh conditions, maintenance and repair dominate the market. Predictive strategies are preferred for cost-effectiveness. ABB Ltd. Offers intelligent motor solutions to enhance performance, uptime, and efficiency, contributing to market growth.

For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2017-2021) – Download a Sample Report

Research Analysis

The Motors and Drives Services Market encompasses a wide range of offerings, including feedback control systems for encoders and potentiometers, skilled workforce expertise in rotary systems segment, gearboxes, pulleys, and DC motors for precise control in industrial automation. Reliable performance is ensured through the adoption of automated systems, preventive maintenance, troubleshooting, and retrofitting for motor-driven systems. Shunt motors and separately excited motors are integral solutions for various industries. Performance upgrades and efficiency enhancements are crucial aspects of this market, driving the need for digitalization and reliability in motor systems. Labor shortages in emerging countries are being addressed through the adoption of robotics and digital technologies, further expanding the market landscape.

Market Research Overview

The Retifting Performance Management Automation Diganalytics sector encompasses the provision of services related to motors and drives. This market is characterized by the implementation of advanced technologies such as electronics, sensors, and software to optimize motor and drive performance. Efficientcy and reliability are key factors driving the growth of this market. The use of predictive maintenance techniques enables early detection and resolution of potential issues, reducing downtime and maintenance costs. Consumption of motors and drives is widespread across industries such as manufacturing, oil and gas, and power generation. The market is expected to grow significantly due to the increasing demand for energy efficiency and the integration of renewable energy sources into power grids. The implementation of Industry 4.0 and the Internet of Things (IoT) is also expected to drive market growth by enabling real-time monitoring and predictive maintenance of motors and drives. The use of condition-based monitoring systems and the adoption of cloud-based solutions are further trends in this market. The market for motors and drives services is a dynamic and evolving landscape, with ongoing advancements in technology and industry trends shaping its future.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ProductMotorsDrivesEnd-userProcess IndustryDiscrete IndustryGeographyAPACEuropeNorth AmericaSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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Technology

Leoguar Electric Bike Makes Christmas Unforgettable with Exclusive Holiday Offers

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HOUSTON, Dec. 25, 2024 /PRNewswire/ — As the holiday season draws near, Leoguar is excited to offer exclusive deals on their range of electric bikes, bringing families together for memorable moments. With a collection designed to combine fun and fitness, this Christmas is the perfect time to gift an unforgettable experience.

“This Christmas, we’re inviting families to rediscover the joy of outdoor exploration. Our bikes help you bond, stay active, and make the most of every moment,” said the Leoguar COO.

Leoguar’s holiday lineup offers premium e-bikes for every rider, now with unbeatable deals: 

Flippo Folding eBike: A lightweight, foldable ride perfect for urban commutes. Upgrade to the Flippo Pro for enhanced performance with a torque sensor for smoother rides.

Fastron Fat Tire eBikes: Built for rugged terrains, the Fastron features a durable, rugged build, and speeds up to 28 MPH, making it the perfect choice for adventurous riders.

Zephyr Beach Cruiser eBikes: Crafted for effortless coastal cruising, the design combines style and comfort, featuring a comfort saddle that ensures a smooth, seamless ride.

Sprint Utility eBike: A versatile, practical choice featuring a sturdy frame and passenger seat, perfect for errands or leisure.

Trailblazer EMTB: Designed for tough off-road trails, the model features a 500W mid-drive motor, offering powerful performance, extended range, and excellent climbing ability.

To make this holiday gift even sweeter, all Leoguar bikes come with free shipping and a two-year warranty for worry-free riding. Additionally, customers can join the holiday giveaway to win prizes like $59 bottle holders, or even a free e-bike!

Leoguar bikes cater to all experience levels, offering comfort and a seamless riding experience. They promote health benefits like improved fitness and stress relief while creating lasting memories on scenic rides.

“Whether it’s cruising the city streets, riding mountain trails, or relaxing by the beach, a Leoguar electric bike is the ideal Christmas gift,” the COO added. “This holiday season, choose a cycling gift that will last for years to come — there’s no better way to kick off the new year.”

To check out the full collection and take advantage of these limited-time offers, visit www.leoguarbikes.com

About Leoguar:

Leoguar is an eco-conscious e-bike brand founded by Johnny, an engineer with decades of industry expertise. Combining innovation, agility, and power, Leoguar delivers high-quality electric bikes designed for adventure, sustainability, and individuality.

Media contact: lily@leoguarbikes.com 

 

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SOURCE Leoguar Electric Bikes

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2024 Financial Oscars: Waton Securities International Honored as “Outstanding Digital Empowerment Institution” of the Year

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SHENZHEN, China, Dec. 25, 2024 /PRNewswire/ — In early December, at the 18th Huaxia Institutional Investor Annual Conference of 2024, the 18th Golden Cicada Awards were announced. Waton Securities International was awarded the “Outstanding Digital Empowerment Financial Institution of 2024” for its significant achievements in securities brokerage and fin-tech sector.

The selection for the “Outstanding Digital Empowerment Financial Institution” focused on evaluating companies based on financial performance, market competitiveness, customer recognition, digital strategy planning and implementation, digital transformation outcomes, and risk control capabilities. Particularly, it highlighted cases that have made significant strides in digital empowerment.

The evaluation also emphasized the outstanding performance of financial institutions in their own digital transformation and the sound risk control abilities demonstrated during this process, ensuring that while pursuing innovation, companies can effectively manage and control risks. Waton Securities International distinguished itself among the contenders with its sophisticated technology platform, well-defined digital strategy, substantial transformation achievements, and commendable risk control mechanisms.

Established in Hong Kong in 1989, Waton Securities International has steadily grown with a deep understanding of professional financial services and regulatory compliance. It has obtained licenses 1/4/5/9 from the Hong Kong Securities and Futures Commission, becoming a fully licensed brokerage with comprehensive financial service qualifications. Through continuous technological innovation and digital transformation, it has successfully built a one-stop brokerage cloud service platform, promoting advanced digital financial technology globally. Its pioneering SaaS product, “Broker Cloud”, allows corporate clients to independently deploy and operate high-performance digital customer information management and trading systems without their own IT teams. The solution is relatively low-cost and adaptive to industry, which is the core competitiveness of Waton Securities International.

Data reveals that of the 1,100 securities firms in Hong Kong, approximately 600 are actively trading, yet fewer than 50 have developed their own mobile applications. On a global scale, among the 30,000 securities companies, only a handful—less than 300—feature brokerage trading Apps in App stores. This underscores a significant market demand for the digital enhancement of the securities sector.

With the swift growth of technologies like generative AI LLMs, blockchain, big data, and cloud computing, the securities industry can use these tools to streamline trading strategies, assess risks more accurately, and forecast market trends. These technologies also help the industry to move towards more integrated, platform-focused, and digital operations. The main goal of technology in finance is to increase the efficiency of financial institutions. A good starting point for applying technology is to focus on financial services and build a solid technical foundation for these institutions.

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SOURCE Waton Securities

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Mega Matrix Announced that the English Version of “Getting Even: The Secret Prodigy’s Playbook” Now Streaming on FlexTV

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SINGAPORE, Dec. 25, 2024 /PRNewswire/ — The highly anticipated English adaptation of the revenge rebirth series, Getting Even: The Secret Prodigy’s Playbook, officially premiered on December 19th on FlexTV, the world-leading short drama streaming platform operated by Mega Matrix Inc. (NYSE American: MPU). The series delves into the intricacies of power struggles within the White family, chronicling the protagonist’s journey of rebirth and empowerment to rewrite her destiny.

Audrey White, the legitimate daughter of the White family, was sent abroad at a young age due to family circumstances, gradually estranging her from her kin. When she finally returns home, eager to reunite with her family, she unexpectedly becomes the target of jealousy from Ruby White, the family’s adopted daughter. Harboring deep resentment, Ruby orchestrates a kidnapping plot, culminating in a devastating fire designed to test the loyalty and affection of the White family.

Left to perish in the flames, Audrey is abandoned by her family but heroically rescued by her uncle. Miraculously, she is granted a second chance at life, returning three years prior with the power to alter her fate. Determined to expose Ruby’s schemes, rebuild her family bonds, and claim her rightful respect and happiness, Audrey embarks on a journey of resilience and redemption.

FlexTV, operated by MPU, is a global leader in short drama streaming, delivering content in over 100 countries in multiple languages, including English, Japanese, Korean, Portuguese, Spanish, French, and Arabic. Known for its premium-quality dramas and unparalleled user experience, FlexTV has captured the hearts of audiences worldwide. The English version of Getting Even: The Secret Prodigy’s Playbook, now streaming on FlexTV, offers a compelling exploration of familial power dynamics, the complexities of human nature, and the protagonist’s growth and self-redemption in adversity. For more exciting content, please visit https://www.flextv.cc/.

#WealthyFamily #Revenge #Rebirth #ShortDrama #FlexTV #MPU

About Mega Matrix Inc.: Mega Matrix Inc. (NYSE American: MPU) is a holding company and operates FlexTV, a short-video streaming platform and producer of short dramas, through its subsidiary, Yuder Pte, Ltd.. Mega Matrix Inc. is a Cayman Island corporation headquartered in Singapore. For more information, please contact info@megamatrix.io or visit: http://www.megamatrix.io.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. All statements in this press release other than statements that are purely historical are forward looking statements. When used in this press release, the words “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “should,” “future,” “propose,” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantees for future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the Company’s control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, are: the ability to manage growth; ability to identify and integrate future acquisitions; ability to grow and expand our FlexTV business; ability to execute the strategic cooperation with TopReels, ability to obtain additional financing in the future to fund capital expenditures; ability to establish the investment fund with 9 Yards Communications under the memorandum of understanding; fluctuations in general economic and business conditions; costs or other factors adversely affecting the Company’s profitability; litigation involving patents, intellectual property, and other matters; potential changes in the legislative and regulatory environment; a pandemic or epidemic; the possibility that the Company may not succeed in developing its new lines of businesses due to, among other things, changes in the business environment, competition, changes in regulation, or other economic and policy factors; and the possibility that the Company’s new lines of business may be adversely affected by other economic, business, and/or competitive factors. The forward-looking statements in this press release and the Company’s future results of operations are subject to additional risks and uncertainties set forth under the “Risk Factors” in documents filed by the Company’s predecessor, Mega Matrix Corp., with the Securities and Exchange Commission, including the Company’s latest annual report on Form 10-K, as amended, and are based on information available to the Company on the date hereof. In addition, such risks and uncertainties include the Company’s inability to predict or control bankruptcy proceedings and the uncertainties surrounding the ability to generate cash proceeds through the sale or other monetization of the Company’s assets. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date of this press release.

Disclosure Channels

We announce material information about the Company and its services and for complying with our disclosure obligation under Regulation FD via the following social media channels:

The Company will also use its landing page on its corporate website (www.megamatrix.io) to host social media disclosures and/or links to/from such disclosures. The information we post through these social media channels may be deemed material. Accordingly, investors should monitor these social media channels in addition to following our website, press releases, SEC filings and public conference calls and webcasts. The social media channels that we intend to use as a means of disclosing the information described above may be updated from time to time as listed on our website.

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SOURCE Mega Matrix Corp.

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