Growth in need of efficient power distribution system and better controlling of electric supply are the growth drivers for the market. The vision of smart grids is increasing with the increasing demands on distribution systems and hence the need for active network management solutions is also increasing. The Distribution Network Operators (DNOs) are focusing on adopting active network management solutions for wider development of smart grids and to manage flows on their networks.
The demand for active network management solutions is increasing among industries to connect separate components of smart grids by integrating software to control and monitor the operation of these devices. Also, with the growing power quality requirements and rising need for utilization rates of existing networks are among the key factors accelerating the growth of the market. The ongoing advancements in the renewable energy generation solutions and high spending on smart infrastructure are some of the growth opportunities for the active network management market.
The outbreak of COVID-19 has impacted the demand of active network management market and also had a financial impact on the market. The Business Development efforts by power generation, power grids and energy & utility industries have been hampered which has led to the downfall of the market for a few years. However, due to the lockdown in the pandemic high spending on advanced energy and power management solutions and technologies will enable a positive outlook for the market in coming years. However, the lack of proper IT infrastructure and high cost of implementation are some of the key challenges that hinder the growth of active network management market.
The report outlines various characteristics of the global Active Network Management market by assessing the market from Value Chain Analysis. Moreover, the Active Network Management market report comprises various qualitative parts of the Active Network Management industry in market restraints, essential industry drivers, and opportunities. Furthermore, the report provides a complete assessment of the market through company profiling and the competitiveness of the local as well as global vendors.
The Active Network Management market has solid competition amongst the already well-known and new market players. Also, the Active Network Management industry players are pursuing potential markets to seize a competitive lead among the other industry players by forming mergers & acquisitions, agreements, acquiring other companies & new startups, establishing collaboration & partnerships, and growing their business existence.
Geographically global Active Network Management Market is divided into North America, Europe, Asia Pacific, Middle East & Africa and South America. Globally, North America is the leading region in market share in the Active Network Management Market owing to the growing adoption of digital technologies in industrial landscapes and presence of major leading players of the active network management market. After North America, Asia Pacific is predicted to grow exponentially in the coming years due to increasing focus on the adoption of energy management solutions and growing smart cities projects in the region.
The major players in the Active Network Management Market are ABB Ltd, General Electric, Cisco Systems, Oracle Corporation, IBM Corporation, CA Technologies, Siemens AG and others.
Key Segments of the Global Active Network Management Market
Type Overview, 2018-2028 (USD Billion)
Application Market Overview, 2018-2028 (USD Billion)
- Grid Asset Monitoring
- Real Time Monitoring
Industry Market Overview, 2018-2028 (USD Billion)
- Power & Utility
Regional Overview, 2018-2028 (USD Million)
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia-Pacific
- Middle East and Africa
- Saudi Arabia
- Rest of Middle East and Africa
- South America
- Rest of South America