Technology

Relay Market Size to Reach $15.20 billion by 2030 | MarketsandMarkets™

Published

1 year ago

November 4, 2024

CHICAGO , Nov. 4, 2024 /PRNewswire/ — The global Relay Market is anticipated to grow from estimated USD 10.12 billion in 2024 to USD 15.20 billion by 2030, at a CAGR of 7.0% during the forecast period. The increasing incorporation of renewable energy sources that are subject to intermittency such as, solar energy wind energy, into electrical grids brings new obstacles. This is because relay systems help maintain stability in the grid by managing power variations, connecting different sources of energy seamlessly, and protecting the grid against faults. With the increase of renewable penetration, relays assist in controlling the voltage and frequency so as to protect the system and the energy from the volatile nature of renewable energy sources. Advanced relay solutions thus become inevitable to make certain structures balancing and supplying energy are trustworthy.

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By Panel Mounting Type

Increased demand for the panel-mounted relays is being driven by this new smart grid technology; relay plays an integral role in all monitoring and control systems. The advanced digital communication and IoT technology underpin the smart grid’s real-time monitoring, data analysis, and efficient management of electricity distribution. This requires reliable relay systems that make operations effortless smooth, improve the reliability of the grid, and support self-healing functions. Panel-mounted relays are critical to achieving accurate control and coordination among smart grid-related resources. Therefore, they become crucial components in modern energy infrastructures, primarily for the management of distributed energy resources and even in demand response strategies.

Electromechanical Relay, by Type

The type segment is further segmented into 6 types: Electromechanical Relay, Thermal Relay, Reed Relay, Time Relay, Solid State Relay (PhotoMOSFET), and Others. Electromechanical Relay segment is expected be the drive the market. Governments around the globe are actively fostering energy efficiency initiatives aimed at reducing energy consumption and promoting sustainable practices. These efforts include incentivizing the adoption of energy-efficient technologies and appliances across various sectors, which in turn drives the demand for electromechanical relays in modern power systems. As utilities and industries seek to optimize energy use and enhance grid reliability, electromechanical relays become essential components for managing and controlling power distribution effectively. By enabling precise switching and monitoring of electrical loads, these relays play a pivotal role in achieving energy savings and supporting the transition to a more sustainable energy landscape. Overall, the push for energy efficiency not only benefits consumers but also contributes significantly to reducing carbon footprints and advancing environmental goals worldwide.

Regional Analysis

The rapid growth of emerging economies, especially India and China, is considerably increasing the demand for relay systems across various sectors, including industrial and residential. As these countries continue their development of infrastructure and manufacture capabilities, there is a great need to ensure that the electrical system implemented in these areas is reliable and efficient. Relays have played an excellent role in ensuring smooth operations, protection of equipment, and management of power at industrial, residential, and other levels. This has increased mainly due to higher urbanization and high consumption of energy. Such developments have shifted the focus towards smart cities and thus on relay technology.

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Key Players

Some of the major players in the relay market are Panasonic Holdings Corporation (Japan), HONGFA (China), TE Connectivity (Switzerland), OMRON Corporation (Japan), and GE Vernova Inc. (US) among others. The major strategies adopted by these players include new product launches, acquisitions, joint ventures, and expansions.

HONGFA

HONGFA is a global leader in the relay industry, known for its specialization in electromechanical relays. Established in China, HONGFA has grown to become the largest relay manufacturer worldwide, commanding a significant share of the market. The company offers a diverse range of relays, including power relays, automotive relays, HVDC (High Voltage Direct Current) relays, and latching relays, catering to various industries such as power, automotive, and industrial automation. HONGFA’s strong focus on research and development is reflected in its advanced production capabilities, with multiple R&D and manufacturing facilities across China. This vertical integration allows HONGFA to streamline its operations, reducing costs while maintaining high-quality standards. The company has sales channels in Europe and America, as well as operations in Indonesia and the establishment of a factory in Germany.

OMRON Corporation

OMRON Corporation is a key player in the global relay market, particularly known for its contributions to industrial automation and electronic components. Headquartered in Japan, OMRON is renowned for producing a wide range of relays, including solid-state relays, which are essential for switching operations in automation and control systems. OMRON’s leadership in the relay market is driven by its innovations in automation technologies, along with its global manufacturing capabilities. The company’s relays are widely used across industries like automotive, electronics, and manufacturing, making it a versatile and crucial supplier. Its products are designed to improve operational efficiency, reduce energy consumption, and enhance safety. OMRON Corporation operates in more than 210 countries and has more than 50 manufacturing plants and 1 research and development center in Japan. The company has more than 150 offices in the world and has more than 10 subsidiaries globally.

TE Connectivity

TE Connectivity is a key player in the global relay market, offering a wide range of relay technologies that serve multiple industries. The company specializes in connectivity and sensor solutions, providing relays that cater to sectors such as automotive, industrial, and telecommunications. TE’s product portfolio includes signal, power, and automotive relays, which are critical for enhancing automation and safety in modern industries. TE Connectivity is well-regarded for its innovation, particularly in designing highly reliable and durable relays for both standard and demanding environments. The company has established itself as a leader by focusing on industrial automation and smart manufacturing trends, offering solutions that improve efficiency and flexibility in production processes. Additionally, TE’s global reach, with operations in regions such as North America, Europe, and Asia, allows the company to cater to a diverse customer base and maintain a strong market presence.

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Technology

MATSON ANNOUNCES ADDITION OF 3 MILLION SHARES TO EXISTING SHARE REPURCHASE PROGRAM AND QUARTERLY DIVIDEND OF $0.36 PER SHARE

Published

40 minutes ago

April 23, 2026

HONOLULU, April 23, 2026 /PRNewswire/ — The Board of Directors of Matson, Inc. (NYSE: MATX), a leading U.S. carrier in the Pacific, approved adding three million shares to its existing share repurchase program and extending the program to December 31, 2029. As of April 23, 2026, the existing share repurchase program had approximately 0.7 million shares remaining. The Board also declared a second quarter dividend of $0.36 per common share. The dividend will be paid on June 4, 2026 to all shareholders of record as of the close of business on May 7, 2026.

“We are pleased to announce an additional three million shares to our existing share repurchase program,” said Matt Cox, Matson’s Chairman and Chief Executive Officer. “Since we commenced our share repurchase program in August 2021, we have repurchased approximately 14.3 million shares, or approximately 33% of the then outstanding shares, for a total cost of $1.3 billion. Going forward, we will continue to be both disciplined and opportunistic in our capital allocation, and we remain committed to returning excess cash to shareholders to create additional shareholder value over the long-term.”

Shares will be repurchased in the open market from time to time at the Company’s discretion, based on ongoing assessments of the capital needs of the business, the market price of its common shares and general market conditions. The Company may enter into Rule 10b5-1 plans to facilitate purchases under the program. The repurchase program may be suspended or discontinued at any time.

About the Company

Founded in 1882, Matson (NYSE: MATX) is a leading provider of ocean transportation and logistics services. Matson provides a vital lifeline of ocean freight transportation services to the domestic non-contiguous economies of Hawaii, Alaska, and Guam, and to other island economies in Micronesia. Matson also operates premium, expedited services from China to Long Beach, California, which includes cargo from other Asia origins, provides services to Okinawa, Japan and various islands in the South Pacific, and operates an international export service from Alaska to Asia. The Company’s fleet of owned and chartered vessels includes containerships, combination container and roll-on/roll-off ships and barges. Matson Logistics, established in 1987, extends the geographic reach of Matson’s transportation network throughout North America and Asia. Its integrated logistics services include rail intermodal, highway brokerage, warehousing, freight consolidation, supply chain management, and freight forwarding to Alaska. Additional information about the Company is available at www.matson.com.

Forward Looking Statements

Statements in this news release that are not historical facts are “forward-looking statements,” within the meaning of the Private Securities Litigation Reform Act of 1995, that involve a number of risks and uncertainties that could cause actual results to differ materially from those contemplated by the relevant forward-looking statement, including but not limited to, statements about capital allocation plans, the timing, manner and volume of repurchases of common shares pursuant to the repurchase program, and use of excess cash. These forward-looking statements are not guarantees of future performance. This release should be read in conjunction with our Annual Report on Form 10-K and our other filings with the SEC through the date of this release, which identify important factors that could affect the forward-looking statements in this release. We do not undertake any obligation to update our forward-looking statements.

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SOURCE Matson, Inc.

Technology

Accord Specialty Pharmacy Named Finalist in MMIT’s 11th Annual Retail Specialty Pharmacy Patient Choice Awards

Published

2 hours ago

April 23, 2026

ORLANDO, Fla., April 23, 2026 /PRNewswire/ — Accord Specialty Pharmacy, an independent specialty pharmacy serving patients across multiple states, has been named a finalist in the MMIT Patient Choice Awards, a recognition based on patient-reported satisfaction and experience.

Accord was selected as the only independent pharmacy among finalists in its category, alongside national pharmacy organizations such as Walgreens Specialty Pharmacy and Walmart Specialty Pharmacy. This distinction highlights the company’s commitment to delivering personalized, high-touch care for patients managing complex and chronic conditions.

The MMIT Patient Choice Awards recognize specialty pharmacies that demonstrate excellence in patient satisfaction, service quality, and overall care experience. Finalists are determined based on direct patient feedback, making the recognition a meaningful reflection of the trust patients place in their pharmacy providers.

“Being recognized alongside national organizations and as the only independent finalist validates our belief that personalized, patient-centered care drives better outcomes. We are building a model that combines clinical depth, national reach, and operational flexibility to better serve patients, providers, and partners.” said AJ Patel, Founder and Pharmacy Manager of Accord Specialty Pharmacy.

Accord Specialty Pharmacy supports patients across complex specialty categories, including oncology, rare disease, and infusion, through a clinically driven, high-touch care model designed to improve access, adherence, and outcomes. The company’s approach emphasizes personalized support, responsive care coordination, and strong clinical engagement to help patients navigate complex therapies more effectively. With a growing national footprint and multi-state licensure, Accord is positioned to support patients, providers, and partners across diverse markets.

For more information, visit MMIT Announces Finalists of the 11th Specialty Pharmacy Patient Choice Awards – MMITNetwork.

About Accord Specialty Pharmacy:

Accord Specialty Pharmacy is an ACHC-accredited, multi-state licensed independent specialty pharmacy located in Central Florida, dedicated to delivering high-quality, patient-centered care for individuals managing complex and chronic conditions. Through personalized support, clinical expertise, and a high-touch approach, Accord helps patients navigate every step of their treatment journey. Learn more at www.accordspecialty.com.

CONTACT: contact@accordspecialty.com

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SOURCE Accord Specialty

Technology

HAIVISION ANNOUNCES VOTING RESULTS FROM 2026 ANNUAL MEETING OF SHAREHOLDERS

Published

2 hours ago

April 23, 2026

MONTRÉAL, April 23, 2026 /CNW/ – Haivision Systems Inc. (“Haivision” or the “Company”) (TSX: HAI) is pleased to announce the voting results from its annual meeting of shareholders held today in a virtual format.

A total of approximately 45.97 % of the issued and outstanding common shares of Haivision were represented at the meeting.

Election of Directors

Each of the six nominated directors of Haivision was elected as director of the Company with the following results:

Director

Votes
For

% Votes
For

Votes
Against

% Votes
Against

Miroslav Wicha

11,110,245

99.26 %

82,583

0.74 %

Harvey Bienenstock

11,155,137

99.66 %

37,691

0.34 %

Robin M. Rush

11,121,855

99.37 %

70,973

0.63 %

Neil Hindle

10,794,005

96.44 %

398,823

3.56 %

Julie Tremblay

10,941,969

97.76 %

250,859

2.24 %

Lee K. Levy II

9,084,418

81.16 %

2,108,410

18.84 %

2. Appointment of Auditors

Deloitte LLP were reappointed auditors of the Company for the ensuing year with 12,492,582 (98.84%) votes cast in favour and 146,406 (1.16%) votes withheld.

3. Approval of the Unallocated Awards under the Company’s Equity Incentive Plan

The Company’s unallocated awards were approved with 8,710,347 (77.82%) votes cast in favour and 2,482,481 (22.18%) votes cast against.

4. Reapproval of Company’s Shareholder Rights Plan

The Company’s shareholder rights plan was approved with 10,572,490 (94.46%) votes cast in favour and 620,338 (5.54%) votes cast against.

Final voting results on all matters voted on at the meeting will be filed under Haivision’s profile on SEDAR+ at www.sedarplus.ca.

About Haivision

Haivision is a leading global provider of mission-critical, real-time video streaming and visual collaboration solutions. Our connected cloud and intelligent edge technologies enable organizations globally to engage audiences, enhance collaboration, and support decision making. We provide high quality, low latency, secure, and reliable live video at a global scale. Haivision open sourced its award-winning SRT low latency video streaming protocol and founded the SRT Alliance to support its adoption. Awarded four Emmys® for Technology and Engineering from the National Academy of Television Arts and Sciences, Haivision continues to fuel the future of IP video transformation. Founded in 2004, Haivision is headquartered in Montreal and Chicago with offices, sales, and support located throughout the Americas, Europe, and Asia. Learn more at haivision.com.

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SOURCE Haivision Systems Inc.