Press release
Active Network Management Market Expected to Reach USD 3.2 Billion by 2030 | Top Players Such as - General Electric, Kelvatek and ABB
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 networks in underdeveloped regions hinders 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 was valued at USD 782.80 million in 2020, and is projected to reach USD 3.2 billion by 2030, growing at a CAGR of 15.2% from 2021 to 2030.
The active network management market is segmented into type, application, enterprise size, industry vertical, and region. Depending on the type, the market is divided into software and services. On the basis of application, it is categorized into automation, grid-asset monitoring, real-time monitoring, and others. By industry, it is fragmented into energy & utilities, transportation, government, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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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 a rise in demand for smart metering, operational utility applications, and substation automation.
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.
Some of the key Active Network Management Industry players profiled in the report include ABB Ltd, Chemtrols Industries Pt. Ltd., Cisco Systems, Inc., General Electric, IBM Corporation, Kelvatek Ltd., Oracle Corporation, Schneider Electric SE, Siemens AG, and Smarter Grid Solution.
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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.
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