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Transmission and Distribution (T&D) Equipment Market to grow by USD 17 Billion from 2024-2028, driven by infrastructure investment, with AI impacting market trends – Technavio

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NEW YORK, Oct. 18, 2024 /PRNewswire/ — Report on how AI is redefining market landscape – The Global Transmission and Distribution (T and D) Equipment Market  size is estimated to grow by USD 17 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 5.24%  during the forecast period. Increasing investment in transmission and distribution (T and D) infrastructure is driving market growth, with a trend towards data will play an ever-increasing role in energy sector. However, cybersecurity risks in transmission and distribution (T and D) equipment  poses a challenge – Key market players include Belden Inc., Dubai Cable Company Pvt. Ltd., Eaton Corp. Plc, Furukawa Electric Co. Ltd., General Electric Co., Hitachi Ltd., Hyundai Motor Co., LS Corp., Mitsubishi Electric Corp., Nexans SA, NKT AS, Prysmian Spa, S and C Electric Co., Schneider Electric SE, Siemens AG, Southwire Co. LLC, Sumitomo Electric Industries Ltd., Tele Fonika Kable SA, Toshiba Corp., and Vertiv Holdings Co..

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Forecast period

2024-2028

Base Year

2023

Historic Data

2018 – 2022

Segment Covered

Application (Distribution and Transmission), Product (Power cables, Transformers, and Switchgear), and Geography (Europe)

Region Covered

Europe

Key companies profiled

Belden Inc., Dubai Cable Company Pvt. Ltd., Eaton Corp. Plc, Furukawa Electric Co. Ltd., General Electric Co., Hitachi Ltd., Hyundai Motor Co., LS Corp., Mitsubishi Electric Corp., Nexans SA, NKT AS, Prysmian Spa, S and C Electric Co., Schneider Electric SE, Siemens AG, Southwire Co. LLC, Sumitomo Electric Industries Ltd., Tele Fonika Kable SA, Toshiba Corp., and Vertiv Holdings Co.

Key Market Trends Fueling Growth

The Transmission and Distribution (T and D) energy sector is witnessing a data revolution, with data playing an increasingly important role in optimizing grid performance, improving energy efficiency, and enhancing reliability and resilience. Smart grids, which utilize advanced sensors and communication technologies to collect and analyze real-time data, are a key application of this trend. This data enables utilities to better understand grid operations, identify areas for improvement, and reduce energy losses. Additionally, data is being used to optimize energy usage in buildings and facilities through smart technologies. Data analytics and artificial intelligence are essential tools for analyzing the vast amounts of data generated by the T and D sector. These technologies help identify patterns and trends, allowing for future demand prediction and infrastructure planning. The European T and D equipment market is expected to drive growth in this sector due to the region’s focus on smart grids and energy efficiency initiatives. 

The Transmission and Distribution (T&D) equipment market is witnessing significant growth due to the increasing demand for electrical energy from various power generation sources like wind power (offshore and onshore), solar energy, biomass, hydroelectric power, geothermal energy, and electric vehicles (EV). The market includes cable and lines, transformers, switches, transmitters, insulators, capacitors, protective devices, relays, circuit breakers, contractors, converters, and other components. Trends such as smart appliances, smart grids, and renewable sources are driving the need for advanced T&D equipment. High-voltage electricity transmission networks require cable and lines, transformers, and switchgear for efficient power transfer. Indirect sales channels and direct sales channels cater to different customer segments. T&D equipment includes flexible power cables, belts, chains, interconnecting lines, conductors, and meters. Emission-free energy sources like wind, solar, and hydroelectric power require specialized T&D equipment to ensure reliable and efficient power transmission and distribution. 

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Market Challenges

The transmission and distribution (T and D) equipment market in Europe is experiencing significant cybersecurity challenges due to the digitalization and integration of smart grid technologies. Increased connectivity introduces new vulnerabilities, allowing cybercriminals to gain unauthorized access, disrupt operations, or manipulate control systems. Complex supply chains, with third-party vendors, subcontractors, and suppliers, can also introduce cybersecurity risks. The absence of universal cybersecurity standards and regulations specific to T and D equipment further complicates matters. To mitigate these risks, security measures such as encryption, access controls, intrusion detection systems, and regular security assessments are essential. Continuous monitoring, threat intelligence sharing, and regular employee training and awareness programs are also crucial. By addressing these challenges, the T and D equipment market in Europe can enhance its resilience against cyber threats and safeguard the reliability of the power grid. Failure to do so may hinder the growth of the market during the forecast period.The Transmission and Distribution (T&D) equipment market faces several challenges in the current energy landscape. Renewable sources like solar and wind power require specialized T&D solutions, such as smart grids and flexible power cables. Smart appliances and electric vehicles add complexity to the distribution system network, necessitating advanced T&D equipment like switches, transformers, and circuit breakers. High-voltage electricity transmission requires T&D equipment like insulators, capacitors, and protective devices. Indirect and direct sales channels must adapt to the evolving market, offering solutions like meters, converters, and interconnecting lines. Emission-free energy sources demand T&D equipment that prioritizes electrical efficiency, while aging infrastructure and T&D losses necessitate upgrades. Overall, the T&D equipment market must innovate to meet the demands of a modern, sustainable energy system.

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Segment Overview 

This transmission and distribution (t and d) equipment market report extensively covers market segmentation by

Application 1.1 Distribution1.2 TransmissionProduct 2.1 Power cables2.2 Transformers2.3 SwitchgearGeography 3.1 Europe

1.1 Distribution-  The Transmission and Distribution (T&D) Equipment Market refers to the industry that manufactures and supplies equipment used in the transfer and distribution of electrical power from power plants to end-users. Key players in this market include Siemens, ABB, and General Electric. T&D equipment includes transformers, switchgears, circuit breakers, and power cables. Market growth is driven by increasing electricity demand and infrastructure development in emerging economies. Companies focus on innovation and efficiency to meet stringent regulatory requirements and customer demands.

Download complimentary Sample Report to gain insights into AI’s impact on market dynamics, emerging trends, and future opportunities- including forecast (2024-2028) and historic data (2018 – 2022) 

Research Analysis

The Transmission and Distribution (T&D) equipment market encompasses a range of technologies used in the transport and distribution of electrical energy from power generation sources to end-users. This market includes various components such as cable and lines, transformers, switchgear, circuit breakers, meters, insulators, capacitors, and interconnecting lines. Renewable energy sources like wind power, solar energy, biomass, geothermal energy, hydroelectric power, and others are driving the growth of this market. Electric vehicles (EVs) and smart appliances are also contributing to increased demand for T&D equipment. High-voltage electricity transmission networks and distribution system networks are essential for the efficient and reliable delivery of electrical energy. T&D equipment plays a crucial role in the integration of renewable energy sources into the power grid and ensuring the stability of the electrical power system. Indirect channels like belts and chains are also used in the T&D equipment industry for various applications.

Market Research Overview

The Transmission and Distribution (T&D) equipment market encompasses a range of technologies used in the transfer and distribution of electrical energy from power generation sources to end-users. This includes components such as cables and lines, transformers, switches, transmitters, insulators, capacitors, protective devices, relays, circuit breakers, converters, circuits, wires, fuses, and smart grids. The market is driven by the increasing demand for electrical energy from various sources, including offshore wind power, solar energy, wind energy, biomass, geothermal energy, hydroelectric power, and renewable sources. The integration of electric vehicles (EV) and smart appliances into the power grid also contributes to the growth of the T&D equipment market. The aging infrastructure and the need for electrical efficiency and energy demand management are key challenges driving the market for advanced T&D equipment, such as high-voltage electricity transmission systems, smart grids, and flexible power cables. T&D losses and emission-free energy are also important considerations in the market for T&D equipment. Indirect and direct sales channels are used to distribute T&D equipment, with contractors and interconnecting lines and conductors playing crucial roles in the supply chain.

Table of Contents:

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

ApplicationDistributionTransmissionProductPower CablesTransformersSwitchgearGeographyEurope

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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RRCA Accounts Management, Inc. Reports Ransomware Attack and Data Breach

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STERLING, Ill., Oct. 18, 2024 /PRNewswire/ —

WHAT HAPPENED?

RRCA Accounts Management, Inc. (“RRCA”), a full-service collection agency, experienced a security incident from a ransomware attack from the Play threat actors on June 6, 2024, and immediately stopped the intrusion on June 7, 2024. A cybercriminal illegally attacked a limited part of our systems without permission. We then immediately hired expert third parties to commence a forensic investigation of the security incident. The initial investigation showed that the majority records accessed were not personal information. However, we learned through ongoing forensic investigatory efforts that there was a full release of our clients’ customers’ personal information on August 20, 2024, leading to this notification. We then did a thorough investigation to identify those consumers whose information was impacted.

WHAT INFORMATION WAS INVOLVED?

RRCA informed its clients, health care providers or other business companies for which data is collected regarding outstanding payments, about this event and what customer personal information may have been accessed. The personal information that may have been accessed by a third party includes contact information (such as name, address, date of birth, phone number and email) and one or more of the following:

Social security number or taxpayer IDDriver’s license numberPassport numberTelephone numberHealth insurance informationHealth data, such as medical record numbers and places of treatment and doctorsHealth payment information such as billing and insurance claims and payment card and account numbersUsername or IP addressPotentially some demographic information, such as gender, religious views or race

The data that was accessed was not the same for each person and does not always include all the above data elements.

WHAT ARE WE DOING?

RRCA has been diligently working with law enforcement and forensic investigators to conduct a thorough review of the potentially affected data. RRCA has implemented additional organizational, technical and administrative security measures to prevent the reoccurrence of such a breach and to protect the privacy of its clients.

WHAT CAN CONSUMERS IMPACTED DO?

RRCA is sending out notifications to impacted customers of its clients so that action can be taken which will assist to minimize or eliminate potential harm. It is strongly advised that preventive measures be taken to help prevent and detect any misuse of information.

To help protect affected individuals, RRCA has retained CyEx, a specialist in identity theft prevention to provide credit monitoring services and identity theft services, free of charge. 

As a first step, it is recommended to monitor financial and health accounts for any unauthorized activity and promptly contacting the appropriate financial institution or health insurance carrier if detected.

To further protect from the possibility of identity theft, it is also recommended that fraud alerts are placed with each of the three credit bureaus – Equifax, Experian, and TransUnion. A fraud alert will make it harder for a new credit account to be opened, as the business must verify identity before it issues new credit. A fraud alert should not stop the use of existing credit cards or other accounts, but it may slow down the ability to get new credit. An initial fraud alert is valid for ninety (90) days. To place a fraud alert on credit reports, contact one of the three major credit reporting agencies at the appropriate number listed below or via their website. One agency will notify the other two on your behalf. Letters will then be sent from the agencies with instructions on how to obtain a free copy of the credit report from each.

Equifax (888) 766-0008 or www.fraudalert.equifax.comExperian (888) 397-3742 or www.experian.comTransUnion (800) 680-7289 or www.transunion.com

Even if no suspicious activity is detected on the initial credit reports, the Federal Trade Commission (FTC) recommends checking credit reports periodically. Checking credit reports periodically can help spot a problem and address it quickly.

WHO TO CALL OR CONTACT WITH QUESTIONS?

If there are further questions or concerns, please contact the RRCA Accounts Management Team at this special telephone number 1-855-277-4799, Monday through Friday, 9:00 a.m. to 9:00 p.m., Eastern Time, except holidays.

View original content:https://www.prnewswire.com/news-releases/rrca-accounts-management-inc-reports-ransomware-attack-and-data-breach-302280547.html

SOURCE RRCA Accounts Management, Inc.

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AT&T Employees Vote to Ratify the Southeast and West Agreements

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DALLAS, Oct. 18, 2024 /CNW/ — Our highly skilled, unionized workforce strongly positions us to grow 5G and fiber.

Key Takeaways:

AT&T ratifies agreements with the Communications Workers of America (CWA) in the Southeast and West, covering about 23,000 employees.AT&T is proud to be the largest employer of union-represented employees in the U.S. telecommunications industry.AT&T’s labor agreements support the company’s commitment to employees’ total wellbeing by providing wages and benefits that are among the best in the nation.

What’s the news? AT&T employees represented by the CWA voted to ratify two collective bargaining agreements. The 5-year agreement with CWA District 3 in the Southeast covers about 15,000 employees who primarily work in technician, call center, machine operator, and other customer service roles in AL, FL, GA, KY, LA, MS, NC, SC, and TN, and is set to expire on Aug. 4, 2029. The 4-year agreement with CWA District 9 in the West covers about 8,400 employees who primarily work in those same roles in CA and NV, and is set to expire on April 8, 2028.

Why is this important? AT&T is the largest employer of union-represented employees in the U.S. telecommunications industry, where more than 62,000 AT&T employees are unionized. AT&T’s high-performance wireless and fiber networks provide a foundation for U.S. economic growth, innovation, and individual opportunity, and AT&T is focused on growing 5G and fiber with a strong union workforce.

“We are proud to support the needs of our unionized employees as they make these connections possible for our customers and communities,” said Jamie Barton, senior vice president of Global Human Resources and Labor Relations, AT&T. “We believe that to be the best connectivity provider, our agreements must allow us to compete for the best people and have the best operations that can adapt to evolving customer demands. These new agreements position the company for sustainable growth and ensure we continue to recognize the work our employees do every day to serve our customers.”

AT&T’s labor agreements support the company’s commitment to employees’ total wellbeing by providing wages and benefits that are among the best in the nation, promoting the physical, emotional, financial and social wellbeing of employees, their families and their communities. These agreements include competitive market-based wage increases that exceed projected inflation, comprehensive retirement benefits, increases in the company’s financial contributions to employee healthcare and wellness, better schedule stability, job security, and more.

Thanks to strong, long-term relationships with our union partners, the company has now reached 18 agreements since the beginning of 2022, including seven contracts ratified this year.

About AT&T

We help more than 100 million U.S. families, friends and neighbors, plus nearly 2.5 million businesses, connect to greater possibility. From the first phone call 140+ years ago to our 5G wireless and multi-gig internet offerings today, we @ATT innovate to improve lives. For more information about AT&T Inc. (NYSE:T), please visit us at about.att.com. Investors can learn more at investors.att.com.

© 2024 AT&T Intellectual Property. All rights reserved. AT&T and the Globe logo are registered trademarks of AT&T Intellectual Property.

 

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SOURCE AT&T

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Argos Multilingual Launches Argos SmartSuite: A Comprehensive Platform for Human-Centric Data Collection, Labeling, and Evaluation

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Argos Multilingual today announced the launch of Argos SmartSuite, an integrated set of advanced tools designed to enhance data ingestion, workflow, productivity, and quality. The platform leverages a deeply customizable stack of tools that help clients get the data they need for pre-training, Supervised Fine-Tuning (SFT) and Reinforcement Learning from Human Feedback (RLHF).

SAN FRANCISCO, Oct. 18, 2024 /PRNewswire-PRWeb/ — Argos SmartSuite represents a significant leap forward in Argos’ data services, integrating and improving upon previously standalone tools to address the complex challenges posed by clients looking to improve their LLMs. At the time of release, Argos SmartSuite includes twelve specialized tools, each targeting crucial aspects of LLM development, testing, and deployment:

General Static Preference CollectionImage Conversation AnnotatorLLM Performance EvaluatorResponse Quality AssessorLLM Export FinderLLM Penetration TesterLLM Threat DetectorLLM Incident SimulatorAdversarial Attack SimulatorPolicy Compliance TesterRed Team CoordinatorPhishing Defense Analyzer

“By integrating these powerful tools into a single, cohesive underlying platform, we’re enabling organizations to build, fine-tune, and test LLMs with superior efficiency and quality.”

The platform’s comprehensive approach covers everything from basic preference collection to advanced threat detection and incident simulation. It significantly improves upon previous versions, making them readily applicable to the latest LLMs and the evolving methodologies used in their development and deployment.

“Argos SmartSuite is a game-changer in how we work with our clients, and this is just the beginning for us. We have always been creative with tooling and when you couple that with our deep understanding of our clients’ project scope and HITL challenges, we can quickly deploy solutions that achieve unprecedented results for our customers. With 12 solutions released in V1 and another six currently being developed in collaboration with our clients, we are on track to double our solution offering by Q1, 2025,” said Chris Phillips, Chief Innovations Officer at Argos Multilingual. “By integrating these powerful tools into a single, cohesive underlying platform, we’re enabling organizations to build, fine-tune, and test LLMs with superior efficiency and quality.”

Alexander Ulichnowski, CEO of Argos Multilingual, added, “With the launch of Argos SmartSuite, we’re reaffirming our commitment to innovation. This platform showcases our dedication to promoting safe and responsible AI development. We believe it will become an indispensable resource for organizations working with LLMs across various industries.”

Argos SmartSuite is available immediately for enterprise clients. For more information about the platform and its capabilities, please visit the Argos Multilingual website.

About Argos Multilingual

Argos Multilingual provides global language solutions. With over 30 years of experience, we serve clients in the high-tech, life sciences, human resources, and financial industries. We make it easy for businesses to grow globally and connect with expert talent anywhere in the world. With production centers in Europe, the Americas, and Asia, we follow a strategy of building robust programs for continuous translation and localization. You can expect a long-term and transparent partnership, backed by innovative solutions around technology, AI & data, creative content, and quality assurance. For more information, please visit us at www.argosmultilingual.com.

Media Contact

Stephanie Harris-Yee, Argos Multilingual, 1 5303913714, info@argosmultilingual.com, http://ai.argosmultilingual.com/

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SOURCE Argos Multilingual

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