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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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Yalla Group Releases 2025 ESG Report

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DUBAI, UAE, April 22, 2026 /PRNewswire/ — Yalla Group Limited (“Yalla” or the “Company”) (NYSE: YALA), the largest Middle East and North Africa (MENA)-based online social networking and gaming company, today published its 2025 Environmental, Social and Governance (ESG) Report. The report outlines the Company’s 2025 ESG performance and future strategy across five key pillars: responsible governance, environmental stewardship, trust, people, and community engagement, underscoring its enduring commitment to sustainable development.

Tao Yang, Founder, Chairman, and CEO of Yalla, stated, “In 2025, we made tangible progress across our ESG priorities. We expanded our use of renewable energy, integrated energy-efficient technologies and deepened AI applications across daily operations, advancing toward our carbon neutrality goal while strengthening business performance. We also invested in building a more diverse and inclusive workplace where our people can thrive and deliver their best, supporting our sustainable growth. True to our mission of connecting our users and enriching lives across the MENA region through our social and gaming ecosystem, we will continue to innovate with purpose, leading responsibly to create positive, enduring impact and lasting value for all stakeholders.”

Mr. Saifi Ismail, President of Yalla, added, “Our fifth annual ESG report highlights our dedication to promoting sustainability, innovation, and responsible growth. Cultural respect and community engagement remain central to how we operate, enabling us to foster a sense of belonging in our digital entertainment community across the MENA region. This year, we also strengthened our cybersecurity infrastructure, building greater user trust in our platforms. Looking ahead, we will continue to invest in ESG initiatives and leverage advanced technologies to cultivate a safe, engaging and innovative digital ecosystem, driving progress toward a more sustainable future.”

For more information on the Company’s ESG initiatives and to access the complete ESG report in English and Arabic, please visit the ESG section of the Company’s investor relations website at https://ir.yalla.com/esg. 

About Yalla Group Limited

Yalla Group Limited is the largest MENA-based online social networking and gaming company, in terms of revenues in 2022. The Company operates two flagship mobile applications, Yalla, a voice-centric group chat platform, and Yalla Ludo, a casual gaming application featuring online versions of board games, popular in MENA, with in-game voice chat and localized Majlis functionality. Building on the success of Yalla and Yalla Ludo, the Company continues to add engaging new content, creating a regionally-focused, integrated ecosystem dedicated to fulfilling MENA users’ evolving online social networking and gaming needs. Through its holding subsidiary, Yalla Game Limited, the Company has expanded its capabilities in mid-core and hard-core games in the MENA region, leveraging its local expertise to bring innovative gaming content to its users. In addition, the growing Yalla ecosystem includes YallaChat, an IM product tailored for Arabic users, WeMuslim, a product that supports Arabic users in observing their customs, and casual games such as Yalla Baloot and 101 Okey Yalla, developed to sustain vibrant local gaming communities in MENA. Yalla is also actively exploring outside of MENA with Yalla Parchis, a Ludo game designed for the South American markets. Yalla’s mobile applications deliver a seamless experience that fosters a sense of loyalty and belonging, establishing highly devoted and engaged user communities through close attention to detail and localized appeal that profoundly resonates with users.

For more information, please visit: https://ir.yalla.com.

Safe Harbor Statement

This press release contains statements that may constitute “forward-looking” statements pursuant to the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “likely to” and similar statements. Statements that are not historical facts, including statements about Yalla Group Limited’s beliefs, plans and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. Further information regarding these and other risks is included in Yalla Group Limited’s filings with the SEC. All information provided in this press release is as of the date of this press release, and Yalla Group Limited does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

For investor and media inquiries, please contact:

Yalla Group Limited
Investor Relations
Kerry Gao – IR Director
Tel: +86-571-8980-7962
Email: ir@yalla.com    

Piacente Financial Communications
Jenny Cai
Tel: +86-10-6508-0677
Email: yalla@tpg-ir.com  

In the United States:

Piacente Financial Communications
Brandi Piacente
Tel: +1-212-481-2050
Email: yalla@tpg-ir.com  

View original content:https://www.prnewswire.com/news-releases/yalla-group-releases-2025-esg-report-302750991.html

SOURCE Yalla Group Limited

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Citizens Bank Data Breach: Edelson Lechtzin LLP Launches Investigation Into Exposure of Personal Information

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National class action firm offering free case evaluations to individuals impacted by the Citizens Bank cybersecurity incident

NEWTOWN, Pa., April 22, 2026 /PRNewswire/ — Edelson Lechtzin LLP, a national class action law firm, is investigating data privacy claims arising from the Citizens Bank, N.A. data breach. Citizens Bank appeared on the Everest gang’s dark web ransomware leak site on or about April 20, 2026.  

Edelson Lechtzin LLP is investigating data privacy claims arising from the Citizens Bank, N.A. data breach.

What Happened

On or about April 20, 2026, samples of sensitive financial data from Texas-based Frost Bank and Citizens Financial Group showed up on Everest’s dark web site. The Everest gang has reportedly given the banks six days before it publicly releases the stolen data. This is a common tactic used by hackers to extort large payments. The Everest gang claims to have approximately 3.4 million records belonging to Citizens Bank

Information Exposed

Affected personal data includes names, home addresses, and account numbers.

Who May Be Impacted

Individuals who received a data breach notification from Citizens Bank may face an increased risk of identity theft and fraud.

Your Legal Options

Edelson Lechtzin LLP is investigating a potential class action to pursue legal remedies on behalf of individuals whose sensitive personal data may have been compromised in the Citizens Bank breach. The firm will evaluate your rights and potential claims at no cost.

Recommended Protective Steps

Review account statements and credit reports regularly and remain vigilant for suspicious activity. Confirm whether your information was involved in the Citizens Bank incident and preserve any letters or emails you received about the breach. Consider placing fraud alerts and credit monitoring.

Contact Us for a Free Case Evaluation

Speak confidentially with a data privacy attorney today: Marc Edelson, Esq., Edelson Lechtzin LLP, 411 S. State Street, Suite N-300, Newtown, PA 18940; Phone: 844-696-7492 ext. 2; Email: medelson@edelson-law.com; Web: www.edelson-law.com. Or click HERE to request a free consultation.

About Citizens Bank

Citizens Financial Group, Inc. is an American bank holding company headquartered in Providence, Rhode Island. The company owns the bank Citizens Bank, N.A., which operates in Connecticut, Delaware, Florida, Maryland, Massachusetts, Michigan, New Hampshire, New Jersey, New York, Ohio, Pennsylvania, Rhode Island, Vermont, and Virginia, as well as Washington, DC.

About Edelson Lechtzin LLP

Edelson Lechtzin LLP is a national class action law firm with offices in Pennsylvania and California. In addition to data breach litigation, the firm handles class and collective actions involving securities and investment fraud, federal antitrust violations, ERISA employee benefit plans, wage theft, and consumer fraud

Media and Partnership Inquiries: Use the contact information above to connect with our team regarding interviews, co-counsel opportunities, and referral partnerships.

Legal Notice: This press release may be considered Attorney Advertising in some jurisdictions.

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SOURCE Edelson Lechtzin LLP

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Registration for the 2026 National Summit in San Diego, CA is Officially Open!

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Leading independent technology distributor Sandler Partners opens registration for their 3-day National Summit, an event dedicated to helping empower Partners to grow their business.

REDONDO BEACH, Calif., April 22, 2026 /PRNewswire/ — Sandler Partners announces that registration is now open for the 2026 Sandler Partners National Summit, taking place October 26–29 at the Hilton San Diego Bayfront in San Diego, CA.

The National Summit is the largest event of the year for the Sandler Partners community—bringing together 600+ Partners, Sandler leadership, and 75+ Providers for three days of insight, collaboration, and opportunity. The event is designed to equip attendees with the knowledge, connections, and strategies needed to navigate a rapidly evolving technology landscape and drive business growth.

Partners, potential Partners, and sponsoring technology Providers can register today by clicking HERE.

“I had the opportunity to connect with the Sandler team, delve into the latest technologies and Partner programs, and build relationships that will help expand the services we deliver to our clients,” states a West Coast Partner and 2025 attendee. “I’m coming back inspired and ready to put some of these new partnerships and ideas into action.”

Shaped by Partner feedback, the Summit focuses on what matters most—delivering practical insights, relevant education, and meaningful connections. Attendees will engage in Growth, Sales, and Technology sessions, explore emerging solutions, and collaborate with peers to exchange ideas, discover new approaches, and strengthen relationships across the community.

TECHNOLOGY PROVIDERS, PLEASE NOTE: Only sponsoring Providers are allowed to attend this event. Those interested in participating as a sponsor can learn more by contacting Tina S. Dyksterhouse, Vice President of Marketing at Tina@SandlerPartners.com.

About Sandler Partners and Their Community Approach
Sandler Partners helps empower their network of leading independent Sales Partners to bring organizations around the world a comprehensive range of technology solutions, including Cybersecurity, Artificial Intelligence (AI), Connectivity, Cloud, Colocation, Mobility, Internet of Things, and Continuity. Their community focus helps support Partners to identify solutions swiftly and unbiasedly from a diverse Provider portfolio of 250+ suppliers. Partner sales agents, VARs, and MSPs gain access to a robust support network, Sales Engineering expertise, marketing resources, and powerful sales tools like SCOUTSolutions FinderScout for Solutions, and the Marketing Center within the Sandler Portal. This helps give their Partners what they need to do what they do best – deliver quality, value, performance, features, unparalleled expertise, and service to their clients. Members of the Sandler Partner community can rely on the industry’s strongest negotiated agreements and a team dedicated to ensuring all their commissions are found, tracked, and paid.

View original content to download multimedia:https://www.prnewswire.com/news-releases/registration-for-the-2026-national-summit-in-san-diego-ca-is-officially-open-302749840.html

SOURCE Sandler Partners

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