New York, USA, Jan. 25, 2022 (GLOBE NEWSWIRE) -- Market Overview:
According to a comprehensive research report by Market Research Future (MRFR), “Active Network Management Market information by Organization Size, by Components, by Services, by Application and Region – forecast to 2027” market size to reach USD 1,583 million, growing at a compound annual growth rate of 15.5% by 2024.
Market Scope:
The active network management market is growing continually. Augmenting demand for effective management of power supply from distributed renewable energy sources is a major growth driver. As the energy sectors worldwide transition to low-carbon power sources, the active network management market is projected to garner significant traction on the global platform.
In this regard, Market Research Future (MRFR) states that the global active network management market is poised to grow at a considerable CAGR during the review period (2020–2027). Active network management has transformed the electricity distribution sector globally by implementing monitoring and controlling solutions for the operation of devices, such as smart grids, smaller energy generators, renewable generation, storage devices, etc.
Dominant Key Players on Active Network Management Market Covered are:
- Cisco Systems Inc. (US)
- IBM Corporation (US)
- Siemens AG (Germany)
- Oracle Corporation (US)
- Schneider Electric (France)
- GE (US)
- Itron Inc. (US)
- Landis+Gyr (Switzerland)
- ABB Ltd (Switzerland)
- ZIV (Spain)
- Camlin Ltd (Ireland)
- Argand Solutions (UK)
- Smarter Grid Solutions (Scotland)
- Chemtrols Industries Pvt. Ltd (India)
- Indra (Spain)
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Market USP Exclusively Encompassed:
Market Drivers
The Rising Demand for ANM Solutions to Reduce Expensive Energy Network Reinforcement Costs Influences Market Size
ANM solutions fully integrated into energy systems help reduce the cost of expensive energy network reinforcement. Additionally, the need to avoid overloading of power grids and optimize available energy resources increases market revenues. Proliferation of smart grids across the globe and increasing usage of renewable energy sources are also some of the major driving forces encouraging ANM adoption in smart grids.
Lack of Awareness of ANM Benefits is a Major Growth Impeder
Despite promising growth prospects, the growth of the active network management market is hindered by some factors, including unawareness about the advantages of ANM and advanced smart grid solutions. Especially, developing economies perceive limited growth of the ANM market. Also, resource sharing among multiple networks and proper resource usage optimization bring security breach threats, another major factor impeding the market growth.
The needs of enterprises greatly depend on their digital transformation strategies and network evolution to adopt cloud applications. Many organizations are shifting to measure traditional network performance characteristics and the delivery of customer experiences. As organizations recover from the COVID-19 initial impact, they are accelerating the digital transformation to minimize the financial impact and competitive differentiation.
The increasing need of businesses to improve operational efficiencies and reduce time to market and expenses & capital expenditures would boost the market size. Network operators provide opportunities in the active network management market for delivering 5G networks.
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Segmentation of Market Covered in the Research:
The market is segmented into components, organization size, applications, and regions. The component segment is sub-segmented into software and services. The organization size segment is sub-segmented into large enterprises and SMEs. The application segment is sub-segmented into power grid & transmission, power generation, oil & gas, and water treatment & distribution. The region segment is sub-segmented into Americas, Europe, APAC, and the Rest-of-the-World.
Regional Analysis
North America dominates the global active network management market. The region is one of the most technologically advanced regions, with key industry players such as Oracle, Cisco, and IBM, boosting the market growth. Besides, factors such as the faster adoption of innovative technologies and increasing initiatives to develop new modules & deployment of private networks substantiate the market size.
The region demonstrates a huge revenue generation in the ANM market, particularly from its smart grid projects. Furthermore, the region has implemented 5G network services in electricity and water utilities, fostering market revenues. Moreover, increasing demand for active networks and wider scope of commercial applications where the ANM technology can be applied create significant growth opportunities.
COVID-19 Impact on the Global Active Network Management Market
The onset of the pandemic has positively impacted the active network management industry. The pandemic challenges underscored the importance of a city-level platform for integrated power generation, transmission, and distribution and water treatment and distribution.
Governments worldwide sought to bring in smart governance addressing urban densification and inadequate provisions of basic needs, such as electricity, water, and sanitation. Large metropolitan regions faced some dichotomy in the urbanization process, which is the real growth driver.
Besides, digital transformation has trickled into nearly all aspects of urban lives and changed every major industry. Resultantly, the market is witnessing a constant uptick over the last few months. Also, increasing investments by solution providers are seen fostering R&D activities to develop ANM solutions.
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Competitive Landscape
The ANM market is estimated to witness significant product launches and major strategic deals, such as mergers & acquisitions, collaboration, expansion, and product development. Leading market players make significant investments in research and development activities and drive their expansion plans.
For instance, recently, on Aug.24, 2021, Mitsubishi Electric Corporation and Mitsubishi Electric Power Products announced the completion of the acquisition of Smarter Grid Solutions (SGS).
Announced earlier this month, the acquisition is to help expand the reach of SGS’s energy management enterprise software to distributed energy resources (DER) customers around the globe. In January 2021, the company announced that it would provide active network management in the QUEST project using its Distributed Energy Resource Management Systems (DERMS) software.
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Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis regarding diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
