Active Network Management Market
Asia-Pacific is expected to observe highest growth rate during the forecast period.
WILMINGTON, NEW CASTLE, DE, UNITED STATES, November 28, 2024 /EINPresswire.com/ — The global size was valued at $782.80 million in 2020, and is projected to reach $3.2 billion by 2030, growing at a CAGR of 15.2% from 2021 to 2030. Rise in need for efficient power management solutions and increase in demand for smart energy planning in smart cities projects have boosted the growth of the global active network management market. However, lack of infrastructure for efficient power distribution network in under developed regions hinders the market growth. On the contrary, surge in renewable energy generation would open new opportunities in the future.
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The global active network management market size is influenced by a number of factors such as increase in need for efficient power management solutions and active network monitoring tools, surge in demand for smart energy planning in smart cities projects, and rise in renewable energy generation. However, lack of infrastructure for efficient power distribution network in under developed regions acts as the key deterrent of the global market.
By industries, the transportation segment would showcase the highest CAGR of 18.4% from 2021 to 2030, due to adoption of active network management solutions to optimize the metro and rail transportation systems. However, the energy and utility segment held the largest share in 2020, contributing to more than two-fifths of the global active network management industry, due to surge in applications for security infrastructure management and group-based configuration systems.
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Depending on application, the automation segment registered the fastest growth, and is projected to keep its hold on the market in the next years. This is attributed to improved power distribution, low up-stream and down-stream time, and easy availability of the services. Key vendors in the market are focused on developing automated energy communication networks and grid modernization. For instance, in June 2020, Smarter Grid Solutions, Nexant, and GreenSync collaborated and designed a new system to control the electricity networks run by UK Power Networks. UK Power Networks will be able to link more distributed energy resources (DERs) to its network, which will include renewable energy devices, using its active network management (ANM) system.
By application, the automation segment held the largest share in 2020, accounting for nearly two-fifths of the global active network management market, due to benefits including improved power distribution, easy availability of the services, and low upstream and downstream time. However, the grid asset monitoring segment is expected to register the highest CAGR of 17.8% during the forecast period. This is due to rise in demand for smart metering, operational utility applications, and substation automation.
KELVATEK LTD., CHEMTROLS INDUSTRIES PVT. LTD., SIEMENS AG, GENERAL ELECTRIC COMPANY, SCHNEIDER ELECTRIC S.E., SMARTER GRID SOLUTIONS, IBM CORPORATION, ORACLE CORPORATION, CISCO SYSTEMS INC., ABB LTD.
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In 2021, on the basis of type, the software segment dominated the active network management market, and is expected to maintain its dominance in the upcoming years. This is attributed to increase in demand for efficient power distribution management systems and load balancing modules in power grids. Several European countries, including the UK, Germany, the Netherlands, and Belgium are implementing smart energy distribution systems for optimized power allocation. Active network management software solutions include various management suites and platforms such as advanced metering infrastructure (AMI), distribution automation, geographic information system, outage management, and telecommunication network management. For instance, in January 2020, the LoRa Alliance announced that it would offer several demonstrations at DISTRIBUTECH 2020 that make a compelling case for LoRaWAN’s use in metering, utilities, and smart city applications.
By region, the market across North America held the lion’s share in 2020, accounting for around two-fifths of the market, due to surge in demand for automation solution and rise in adoption of active network management solutions. However, the global active network management market across Asia-Pacific would showcase the highest CAGR of 19.1% from 2021 to 2030, owing to rise in investment on electricity generation for several industry verticals including energy & utility, transportation, construction, and government.
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On the basis of type, in 2021 the software segment dominated the active network management market size. However, the service segment is expected to exhibit significant growth during Active Network Management Market Forecast period.
Depending on industry, the energy & utilities generated the highest revenue in 2021 of active network management market share.
By application, the automation segment generated the highest revenue in 2021. However, the grid asset management segment is expected to exhibit significant growth during the forecast period
The active network management market was dominated by North America region in 2021. However, Asia-Pacific is expected to witness significant growth in the upcoming years.
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