Active Network Management Market Overview:
Global Active Network Management Market was valued at $451 million in 2016, and is estimated to reach $1,173 million by 2023, growing at a CAGR of 14.9% from 2017 to 2023. Active network management applications including automation, grid asset monitoring, real-time monitoring, and others are offered by prominent analytics solution providers, such as ABB Ltd, General Electric, Schneider Electric SE, Siemens AG, and others, to automatically adjust sensors data and flow of power in the grids and substations. Active network management provides streamlined real-time power distribution monitoring from connected devices such as renewable generation, smaller energy generators, storage devices, and others. The global active network management market is expected to witness significant growth rate, due to the rise in ICT expenditure by the government of various developed and the developing regions, including North America, Europe, and Asia-Pacific.
Asia-Pacific active network management market is expected to register the highest CAGR in the near future. Global vendors are investing heavily in the market to improve the overall active network management solution offering to ensure low-cost and on time data analysis, load balancing, and real-time power distribution analysis. The Asia-Pacific region, which includes countries such as China, India, Japan, and Australia, offer lucrative opportunities for market players. Moreover, surge in demand for smart energy solution in renewable energy generation drives the Europe active network management market.
The global active network management market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Rise in need for automation solutions and increase in adoption of active network management solutions contribute to the market growth in North America and Europe. However, LAMEA is expected to account less market share in the global market as compared to other regions, due to slow ICT spending and slow adoption of smart energy solution. Furthermore, the Latin America and Middle East are expected to gain traction, but the growth is expected to be stable during the forecast period.
Active Network Management Market Segmentation
The global active network management market is segmented on the basis of application, type, industry, and geography. On the basis of application, it includes automation, grid asset monitoring, real-time monitoring, and others. On the basis of type, it is bifurcated into software and services. On the basis of industry, the market is divided into energy & utility, transportation, government, and others.
The key players profiled in the report are 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. The report discusses the key strategies adopted by the companies along with the detailed analysis of the current trends, upcoming opportunities, and restraints in the global active network management market along with detailed information about their impacts.
Top Impacting Factors
Increase in Need of Efficient Power Management Solutions
Growth in need of efficient power distribution and real-time controlling of electricity supply are expected to fuel the active network management market across the globe.
Surge in Demand for Smart Energy Planning in Smart Cities Projects
Several North American, European, and Asian countries including Canada, the U.S., the UK, Germany, Netherlands, Spain, Sweden, India, China, Japan, and many others are rapidly investing in smart cities development, which in turn is expected to create a potential space for market development.
Growth in Renewable Energy Generation
With growth in renewable energy generation in several countries including Germany, China, India, the U.S., and many others, the market for active network management is anticipated to grow in the coming years.
Lack of IT Infrastructure in the Underdeveloped Nations
The countries in Latin America, the Middle East, and Africa have not yet adopted technologically advanced hubs with rich IT infrastructure and digital content, which in turn is expected to hinder the global market growth in the near future.
Growth in Urbanization and Increase in Demand for Uninterrupted Power Supply
Increase in number of residents shifting towards urban areas and government investments on smart grids and power supply projects are expected to enhance active network management market globally.
- In-depth analysis of the global active network management market and its dynamics are provided to understand the market scenario.
- Quantitative analysis of the current trends and future estimations from 2017 to 2023 is provided to assist strategists and stakeholders to capitalize on the prevailing opportunities.
- Porter’s Five Forces analysis examines the competitive structure of the market and provides a clear understanding of the factors that influence the market entry and expansion.
- A detailed analysis of the geographical segments enables the identification of profitable segments for market players.
- Comprehensive analysis of the trends, sub segments, and key revenue pockets are provided in the report.
Active Network Management Market Key Segments:
- Grid Asset Monitoring
- Real-time Monitoring
- Energy & Utility
- North America
- Rest of Europe
- Rest of Asia-Pacific
- Latin America
- Middle East