Active Network Management Market Updates 2024 : is Predicted to Attain USD 3.2 billion by 2030

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.

The global active network management market 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 underdeveloped regions acts as the key deterrent of the global market.

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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.

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.

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The current estimation of 2030 is projected to be higher than pre-COVID-19 estimates. Over the previous 18 months, almost every industry in the world has suffered a setback. This can be ascribed to severe disruptions in their respective manufacturing and supply chain operations as a result of various precautionary lockdowns and other limitations imposed by governments all over the world. The same applies to global active network management market. Furthermore, consumer demand has decreased as people are now more focused on removing nonessential expenses from their budgets since the general economic situation of most people has been negatively impacted by the outbreak. The aforementioned factors are likely to weigh on the global Active Network Management Industry revenue trajectory.

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.

KEY FINDINGS OF THE STUDY

Based on 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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