September 2 2020
Market Research Future published a research report on “Active Network Management Market Research Report - Global Forecast 2024” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2024.
Globally, the active network management market is emerging at an exponential rate as it satiates the need management of power supply. The global active network management market is likely to develop at an impressive 16.8% CAGR during the forecast period (2019 to 2024) with which it can scale valuation of USD 1,583.4 million by 2024 from USD 728.3 million in 2019, asserts Market Research Future (MRFR) in a detailed study. The report further includes drivers that are backed by some excellent factors which are contributing to the active network management market to chart its course towards the future easily.
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Market Drivers & Trends
The expansion of the active network management market can be accredited to the escalating demand for power supply management from distributed renewable energy sources, the need to avoid overloading of power grids, and making utmost use of available energy are some of the key driving factors for the adoption of effective network management solution at present.
The latest smart grids have adopted diverse smart solutions to control the power supply and integrate different sources of energy, including renewable sources with the help of active network management, which is a software solution that helps in avoiding voltage range infringements, prevents an imbalance between power generation and its consumption, and overload. Active network management having such a proven solution for grid stability, reliable voltage regulation, and peak load management is what makes it useful and advantages, thus initiating the market to expand in the coming years.
On the other hand, the factors such as the development of smart grids across the globe and mounting usage of renewable energy sources are speedily encouraging smart grid companies to adopt ANM solutions widely, thus strengthening the market growth inevitably. On the flip side, factors such as less awareness of advanced smart grid solutions, especially in developing economies, are anticipated to limit the growth of the Active Network Management Market during the forecast period.
The prominent players in ANM Market are IBM Corporation (US), Cisco Systems, Inc. (US), Siemens AG (Germany), Schneider Electric (France), Oracle Corporation (US), GE (US), Landis+Gyr (Switzerland), Itron, Inc. (US), ABB Ltd (Switzerland), Camlin Ltd (Irelance), ZIV (Spain), Argand Solutions (UK), Chemtrols Industries Pvt. Ltd (India), Smarter Grid Solutions (Scotland), and Indra (Spain).
The regional assessment of the global active network management market spans across North America, Europe, Asia Pacific (APAC), and the Rest of the World (RoW). These regions are further narrowed down to a country-level basis for highlighting a detailed market analysis. North America is one of the most advanced regions in terms of technology and innovations. It is also observed to be quick in the adoption of latest technologies. These factors are forecasted to support the growth of the active network management market in the region over the next couple of years. Thus, North America is anticipated to maintain the pole position in the global market through the assessment period. Increasing installation of smart grid projects in the region is projected to create demand for the product in the region over the evaluation period. The U.S. is likely to dominate the regional active network management market in the years to come.
Asia Pacific is a rapidly developing market and is poised to strike the highest CAGR over the forecast period. The replacement of traditional grids by smart grids is expected to propel the expansion of the active network management market. China, Japan, and India are the prominent nations expected to exhibit substantial potential for growth in the upcoming years.
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TABLE OF CONTENTS
LIST OF TABLES
Table 1 Global Market, By Region, 2018–2024
Table 2 North America: Market, By Country, 2018–2024
Table 3 Europe: Market, By Country, 2018–2024
Table 5 Asia-Pacific: Market, By Country, 2018–2024
Table 6 Global Market, By Region, 2018–2024
Table 7 North America: Market, By Country, 2018–2024
Table 8 Europe: Market, By Country, 2018–2024
Table 9 Asia-Pacific: Market, By Country, 2018–2024
Table 10 Middle East & Africa: Market, By Country, 2018–2024
Table 11 South America: Market, By Country, 2018–2024
Table 12 Global Market Organization Size Market, By Region, 2018–2024
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