Key Active Network Management Market players include Siemens AG, Expeto, Inc., Schneider Electric SE, Argand Solutions, ABB Ltd., General Electric Company, Smarter Grid Solutions Ltd., Oracle CORPORATION, Cisco Systems Inc., IBM Corporation, and others.
New York , Feb. 29, 2024 (GLOBE NEWSWIRE) — The global active network management market size is projected to grow at a CAGR of over 21% from 2024 to 2036. The market is expected to garner a revenue of USD 12 billion by the end of 2036, up from a revenue of USD 1 billion in the year 2023. The increasing usage of the Internet of Things and other connected IoT devices across the globe including the utility sector is driving the market size. There are nearly 15 billion connected IoT devices across the world as of 2024.
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Moreover, the market growth is attributed to the enhancing necessity for operational management systems to save cost, capital expenditure, and emissions. As per reports of the International Energy Agency Sustainable Development Scenario, energy efficiency may reduce emissions by over 36% by the end of 2040. The requirement for effective power management is escalating with the adoption of active network monitoring in the end-user verticals such as oil and gas, mining, government firms, and transportation. This helps to allow the power to flow within predetermined limits thereby avoiding overloading and decreasing infrastructure costs.
Active Network Management Market: Key Takeaways
- Market in North America region to propel the highest growth.
- The Grid Asset Monitoring segment to garner the highest growth
- Market in Asia Pacific region to grow at the highest rate
Need for Smart Energy Scheduling in the Developing Smart Cities is Propagating the Growth of the Active Network Management Industry
The initiation of smart cities around the world in many countries in North America, Europe, and Asia. The development of smart cities with the support of government programs and funds to efficiently manage the utilization of electricity across the cities is anticipated to fuel the market size. Further, the active management system allows for a comprehensive understanding of analytics for network control, high grid stability, and real-time power evaluation. The association of the Internet of Things with the smart city infrastructure is established to shoot up the market size. The installation of smart power management is estimated to enhance energy efficiency by more than 25% in commercial buildings as of 2023 data.
Active Network Management Industry: Regional Overview
The global active network management market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa region.
Advancements in Technology and Improvements in the Management of Electricity Supply is Intensifying the Market Growth in the North America Region
The North America market region is estimated to hold a significant market share of 35% during the forecast period owing to the presence of advanced electricity management systems for the distribution of power. According to the reports, in the U.S. USD 27 billion was spent on the transmission investment by the investor-owned electric companies rising from USD 25 billion in the previous year and estimated to increase to USD 30 billion in 2023. The multiplying electric plants in the region to meet the rising electricity needs of the population with the growth in the telecommunications and digitalization sectors is propelling the market size.
Automation of Equipment and Appliances with Integration of Artificial Intelligence in Many Sectors of the Region is Proliferating the Market Expansion in the Asia Pacific Region
The Asia Pacific region is envisaged to attain a market share of 27% between 2024 and 2036. The adoption of automated technology in various sectors such as automobiles, manufacturing, and other businesses is proposed to hike the market growth. Businesses in Southeast Asia are estimated to spend 65% more on artificial intelligence (AI)/machine learning (ML) in 2023 compared to 40% in 2022. Besides, the market trends are likely to boost as a result of the association of conventional energy production units and renewable energy sources in the industrial sectors of nations such as China, India, and South Korea is driving the market size.
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Active Network Management Market Segmentation by Application
- Grid Asset Monitoring
- Real-Time Monitoring
- Automation
- Power
The grid asset monitoring segment from the market is estimated to secure a market share of 40% during the forecast period. The increasing environmental concerns across the world are projected to raise the market segment growth. The need for energy storage firms to shift from fossil fuels to sustainable energy sources is predicted to lead to amplifying investments in the market segment. For instance, the application of smart grids and power management systems in energy consumption plants is expected to decrease greenhouse gas emissions across the globe by 5 gigatons of CO2 per year by 2030.
Active Network Management Market Segmentation by Component
- Software
- Services
The market from the software segment is outlined to register a 55% market share in the coming years on account of rising demand for advanced energy distribution systems and modules to balance the load evenly in the power grids. In 2022, India launched a scheme worth over USD 35 billion in support of power distribution companies to improve distribution infrastructure. Some of the software solutions in active network management include geographic information systems, outage management, telecommunication network management, distribution management, and advanced metering infrastructure.
Active Network Management Market Segmentation by Enterprise Size
- Large Enterprises
- SMEs
Active Network Management Market Segmentation by Verticals
- Energy & Utility
- Transportation
- Government
A few of the well-known market leaders in the global Active Network Management Market that are profiled by Research Nester are Siemens AG, Expeto, Inc., Schneider Electric SE, Argand Solutions, ABB Ltd., General Electric Company, Smarter Grid Solutions Ltd., Oracle CORPORATION, Cisco Systems Inc., IBM Corporation, and others.
Recent Development in the Market
- Siemens associated with EnergyHub to design a holistic and scalable next-generation DER management system (Distributed Energy Resources). EnergyHub will control the classes of DERs such as thermostats, electric vehicles, energy storage, and solar inverters. The will be contributing its extensive power systems and grid control domain expertise. The partnership complements the companies to enhance the utilities to move towards a holistic and scalable end-to-end next-generation DER management solution. This enables the utilities to get better DER visibility, forecasting, and management, which allows them to plan, operate, and maintain a better DER-centric grid in the coming years.
- Expeto, Inc. partnered with a provider of public and private mobile networks company, Portland General Electric (PGE). The partnership was to improve the grid modernization process and incorporation of renewable energy sources. The automated grid resilience, track field conditions are restructured with the wireless network of Expeto enabled by the PGE through intelligent sensors and equipment. Also, the integration aids in increased employee safety, and gives electric vehicle charging stations for public grid usage.
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