Active Network Management Market Size Reach USD 3.2 Billion by 2030, Key Factors behind Market’s Growth
The increase in demand for smart energy planning in smart city projects has boosted the growth of the global active network management market.
PORTLAND, PORTLAND, OR, UNITED STATE, March 19, 2024 /EINPresswire.com/ — According to a new report published by Allied Market Research, titled, “Active Network Management Market,” The active network management market was valued at $782.80 million in 2020, and is estimated to reach $3.2 billion by 2030, growing at a CAGR of 15.2% from 2021 to 2030.
Active network management serves as a strategy to oversee smart grids, linking distinct elements like renewable generation, storage units, and smaller energy producers. This establishes an intelligent energy framework that autonomously regulates the diverse components of the energy grid, ensuring optimal control and information dissemination.
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The global active network management market is influenced by several factors such as an 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 underdeveloped regions acts as the key deterrent of the global market.
In 2021, based on 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.
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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 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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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.
Covid-19 scenario:
• The Covid-19 pandemic presented several challenges and disruption in manufacturing and supply chain operations. This negatively affected the market.
• The consumer demand for active network management decreased during the pandemic as people are now focused on removing non-essential expenses from their budgets.
Major market players:
• ABB Ltd.
• Cisco Systems, Inc.
• Chemtrols Industries Pt. Ltd.
• IBM Corporation
• General Electric
• Oracle Corporation
• Kelvatek Ltd.
• Siemens AG
• Schneider Electric SE
• Smarter Grid Solution
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Related Report:
1. Network Management Solutions Market
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