ID: MRFR/ICT/6342-HCR | February 2021 | Region: Global | 100 pages
The rising need for power supply management from dispersed renewable energy sources, as well as the need to prevent overloading power grids and make the most use of the energy available, are driving reasons for the adoption of network infrastructure management solutions. Smart grids of today use a variety of sophisticated methods to regulate power supply and combine new energy sources, including renewable sources. ANM is a software solution for power grids that aids in the prevention of voltage range violations, imbalances between power generation and consumption, and overload. ANM has proved to be a dependable option for grid stability, voltage control, and peak load management. Smart grid development throughout the world, as well as increased use of renewable energy sources, are driving smart grid businesses to broadly use ANM solutions. However, a lack of awareness of sophisticated smart grid technologies in emerging nations is likely to hinder active network management market growth over the forecast period.
This report contains all the information on the global active network management market research report and its strengths. The report also contains the culmination of dynamics, segmentation, key players, regional analysis, and other important factors. And a detailed analysis of the global active network management market analysis forecast for 2024 is also included in the report.
Active Network Management Market COVID-19 Analysis:
The active network management market had considerable low growth as a result of the Covid-19 epidemic. For example, the lockdown resulted in a significant decrease in electricity usage (20-22 percent in the first ten days of the lockdown). Electricity use by commercial and industrial consumers, as well as railways, has decreased dramatically. Because these consumers cross-subsidize domestic and agricultural consumers, the income loss is considerably greater, affecting total demand for active network management.
The increased need for active network management is expected to fuel the global development of the active network management market growth among end-user industries via improved uptime, dependability, alarm monitoring, and active alerts. Active network management is a trend and a top priority for many sectors, owing to the potential to optimize energy distribution management.
The present and suggested solutions are typically a mix of ANM and protective systems, but under certain situations, they can expose every separate system to erroneous operation due to the nature of the other.
Cumulative Growth Analysis:
As the number of smart city projects grows, smart energy distribution techniques will become more prevalent. The Consumer Technology Association predicts that global investment on smart city development would reach USD 34.35 billion by 2020. Furthermore, according to the United Nations Population Fund, 54 percent of the world's population, or roughly 3.3 billion people, resided in urban areas in 2014. By 2030, urban regions are anticipated to house about 67 percent of the overall population. The LoRa Alliance said in January 2020 that it will provide numerous demos at DISTRIBUTECH 2020 that would make a strong case for LoRaWAN's usage in metering, utilities, and smart city applications.
Value Chain Analysis:
According to the reports, the worldwide active network management (ANM) market is divided into four sections: component, organization size, application, and region/country. The market has been divided into two components: software and services. Professional and managed services have been added to the services section. The research includes consultancy services, implementation and integration services, and support and maintenance services. The market has been divided into two segments based on organization size: big businesses and small and medium-sized enterprises (SMEs). The market has been divided into four applications: electricity production, power grid and transmission, oil and gas, and water treatment and distribution. The active network management market has been divided into four regions: North America, Europe, Asia-Pacific, and the rest of the world. North America is divided into the United States, Canada, and Mexico; Europe into Germany, the United Kingdom, France, and the rest of Europe; Asia-Pacific into China, India, Japan, and the rest of Asia-Pacific; and Rest of the World into the Middle East and Africa and South America.
Active Network Management Market .Segmentation Overview:
The active network management market is segmented on the basis of component, organization size, application, and region/country. The global active network management (ANM) market is expected to witness decent growth during the forecast period.
Based on the application, the active network management market is segmented into electricity production, power grid and transmission, oil and gas, and water treatment and distribution.
Based on the propulsion types, the active network management market is segmented into big businesses and small and medium-sized enterprises (SMEs).
Active Network Management Market Regional Analysis:
During the forecast period of 2018 to 2023, the worldwide market for ANM is expected to develop at a modest rate. The worldwide ANM market has been geographically analyzed for North America, Europe, Asia-Pacific, and the rest of the globe. During the projected period, North America is estimated to lead the active network management market. North America is regarded as the most advanced area in terms of the development and acceptance of novel electrical and electronic technology. The area has enormous income generation potential in the active network management industry, notably through smart grid initiatives. During the forecast period, the United States is anticipated to be the dominant nation in the North American active network management market sales. During the projected period, Asia-Pacific is predicted to expand at the quickest rate. Rapid progress toward the transition of traditional grids into smart grids is projected to drive market growth in the APAC region. In terms of market share, China, Japan, and India have led the APAC area, and this trend is likely to continue in the future years.
Active Network Management Market Competitive Landscape:
Many companies in the worldwide active network management market are growing their technical prowess, according to recent trends, with higher expenditures in research and development (R&D) operations. To improve on their product offerings and expand their client bases, the majority of the firms have followed an organic growth approach.
ABB announced its new ABB Ability e-mesh technology in February 2019. This system would give power grid operators a uniform, integrated picture of their Distributed Energy Resources (DERs), such as microgrids, Battery Energy Storage Systems (BESS), and renewable power production.
On the basis of component, the Active Network Management Market has the following segments:
On the basis of organization size, the market has the following segments:
On the basis of application Area, the Active Network Management market has the following segments:
On the basis of Region, the market has the following segments:
Frequently Asked Questions (FAQ) :
The software asset management market can thrive at 16.8% CAGR by 2024.
The software asset management market can value at USD 1,583.4 Mn by 2024.
In 2019, the software asset management market valued at USD 728.3 Mn.
Chemtrols Industries Pvt. Ltd (India), Argand Solutions (UK), and Smarter Grid Solutions (Scotland) are some reputed names in the software asset management market.
The APAC software asset management market can make considerable revenue by 2024.