Globally, the active network management market is emerging at an exponential rate as it satiates the need management of power supply. The global active network management market is likely to develop at an impressive 16.8% CAGR during the forecast period (2019 to 2024) with which it can scale valuation of USD 1,583.4 million by 2024 from USD 728.3 million in 2019, asserts Market Research Future (MRFR) in a detailed study. The report further includes drivers that are backed by some excellent factors which are contributing to the active network management market to chart its course towards the future easily.
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Market Drivers & Trends
The expansion of the active network management market can be accredited to the escalating demand for power supply management from distributed renewable energy sources, the need to avoid overloading of power grids, and making utmost use of available energy are some of the key driving factors for the adoption of effective network management solution at present.
The latest smart grids have adopted diverse smart solutions to control the power supply and integrate different sources of energy, including renewable sources with the help of active network management, which is a software solution that helps in avoiding voltage range infringements, prevents an imbalance between power generation and its consumption, and overload. Active network management having such a proven solution for grid stability, reliable voltage regulation, and peak load management is what makes it useful and advantages, thus initiating the market to expand in the coming years.
On the other hand, the factors such as the development of smart grids across the globe and mounting usage of renewable energy sources are speedily encouraging smart grid companies to adopt ANM solutions widely, thus strengthening the market growth inevitably. On the flip side, factors such as less awareness of advanced smart grid solutions, especially in developing economies, are anticipated to limit the growth of the Active Network Management Market during the forecast period.
The prominent players in ANM market are IBM Corporation (US), Cisco Systems, Inc. (US), Siemens AG (Germany), Schneider Electric (France), Oracle Corporation (US), GE (US), Landis+Gyr (Switzerland), Itron, Inc. (US), ABB Ltd (Switzerland), Camlin Ltd (Irelance), ZIV (Spain), Argand Solutions (UK), Chemtrols Industries Pvt. Ltd (India), Smarter Grid Solutions (Scotland), and Indra (Spain).
The global active network management market, according to study, has been segmented into component, organization size, and application.
- By the mode of component, the market has included software and services. Among which, the services segment has been further divided into professional and managed services. Professional services covered are consulting services, implementation and integration services, and support and maintenance services.
- By the mode of organization size, the global market has been categorized into large enterprises and SMEs.
- By the mode of application, the market is further split as power generation, power grid and transmission, oil and gas, and water treatment and distribution.
According to the regional study of the global active network management market, the region included are North America, Europe, Asia-Pacific, and the rest of the world.
Among these, North America region is likely to lead the global active network management market during the forecast period as the region is considered as the most superior by development and adoption of innovative technologies in the ground of electrical and electronics. Also, the region has a huge potential for revenue generation in the active network management market, mainly from its smart grid projects. The US is likely to be the leading country in the active network management market in North America during the forecast period.
Asia-Pacific is likely to nurture at the fastest rate in the forecast period. Rapid developments towards the transformation of traditional grids into smart grids are to boost the growth of the market in the APAC region. Countries like China, Japan, and India have been the leading countries in the APAC region by high market share, and this trend is possible to continue in the upcoming years.
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- Active Network Management Solution Vendors
- Power Grid Organizations
- Government agencies
- Standard making bodies
- Distributors and Value-added Resellers (VARs)
- Energy and Utilities Companies
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