The Development in Smart Grid Technology and Rising Usage of Renewable Resource are Driving the Growth
The vision of smart grids is shaping up and with the changing demands on distribution systems, the need for active network management solutions is increasing.
With the growth of embedded electricity generation at different voltage levels and the rapid development of smart grid technologies, the Distribution Network Operators (DNOs) are focusing on adopting active network management solutions for the wider development of smart grids and to manage flows on their networks.
Moreover, the rising need for efficient use of electricity at customer level and growing penetration of renewable resources are creating potential growth opportunities for the active network management market.
The demand for active network management solutions is increasing among industries to connect separate components of smart grids such as storage devices and energy generators by integrating software to control and monitor the operation of these devices.
Furthermore, with the growing power quality requirements and rising need for utilization rate of existing networks are among the key factors propelling the growth of active network management market.
Active Network Management Market: Market Dynamics
The continuous rise in demand for efficient power management solutions and uninterrupted power supply are the key factors driving the growth of active network management market.
Moreover, the growing adoption of smart grid technologies and increasing smart cities projects across the world are also some of the key factors driving the growth of active network management market.
Also, the ongoing advancements in the renewable energy generation solutions and high spending on smart infrastructure solutions are creating potential growth opportunities for the active network management market.
Apart from this, the rise in demand for efficient and automated power management solutions and rising adoption of connected devices are driving the growth of active network management market.
Also, the need for reducing investments in expensive energy network reinforcement and for managing real-time network related issues are driving the growth of active network management market. However, the lack of proper IT infrastructure and high cost of implementation are some of the key challenges which hinders the growth of active network management market.
Impact of COVID-19
The outbreak of COVID-19 is directly impacting the demand and production of energy and power companies. Also, with disruptions in supply chain, falling business confidence, and financial impact on business, the demand for active network management solutions is expected to slow down in first three quarters of 2020.
Moreover, coronavirus pandemic, the business development efforts by power generation, power grids, energy & utilities, and manufacturing industries are being hampered and therefore, due to this factor, the demand for active network management solutions may go down for next 2-3 years.
However, the COVID-19 outbreak brings the high spending on advanced energy and power management solutions and technologies and therefore, due to this factor, the long term outlook remains positive for active network management market.
According to estimates, the active network management market has witnessed a growth rate of around 15% in 2018 and 2019. However, due to COVID-19, the growth rate of active network management market is expected to be around 11% in in 2020 and 2021.
Active Network Management Market: Competition Landscape
Leading players in the active network management market are focusing on entering into collaborations and partnerships to better serve the regional customers and to adhere with the regional regulations and policies. Also, various active network management solution providers are coming up with advanced solutions to help the power companies in solving challenges caused due to aging infrastructure.
Some of the key players in the Active Network Management market are
- General Electric
- Schneider Electric
- Cisco Systems
- Oracle Corporation
- IBM Corporation
- Smarter Grid Solutions.
Active Network Management Market: Regional overview
On the basis of regions, North America and Asia Pacific is expected to lead the active network management market owing to the growing adoption of digital technologies in industrial landscape and presence of leading active network management players in the region.
Moreover, the increasing focus on the adoption of energy management solutions and growing smart cities projects are driving the adoption of active network management market in countries of Asia Pacific.
Europe is also expected to create significant growth opportunities, owing to the continuous increase in adoption of advanced energy management solutions and automated power management solutions in the countries of the region.
Furthermore, the rising increasing usage of renewable energy sources in the advanced and emerging economies around the globe is expected to drive the active network management market.
The Active Network Management market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators, and governing factors, along with market attractiveness as per segment. The market report also maps the qualitative impact of various market factors on market segments and geographies.
The report covers exhaustive analysis on:
- Active Network Management Market Segments
- Active Network Management Market Dynamics
- Active Network Management Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies Involved in Active Network Management Market
- Technology Landscape
- Value Chain of the Active Network Management Market
- Market Drivers and Restraints
Regional analysis includes:
- North America (U.S., Canada)
- Latin America (Mexico, Brazil, Rest of Latin America)
- Europe (Germany, Italy, U.K, Spain, France, BENELUX, Russia, Rest of Europe)
- East Asia (China, Japan, & South Korea)
- South Asia & Pacific (India, ASEAN, Australia & New Zealand, Rest of South Asia)
- Middle East and Africa (GCC Countries, Turkey, South Africa, Rest of MEA)
- Detailed overview of parent Active Network Management market
- Changing Active Network Management market dynamics in the industry
- In-depth market segmentation
- Historical, current, and projected market size in terms of value
- Recent industry trends and developments
- Competitive landscape of Active Network Management Market
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
Active Network Management Market: Market Segmentation
The Active Network Management market has been segmented on the basis of component, end users, and region.
basis of Component:
- Active Network Management Software/Platform
- Professional Services
- Managed Services
basis of end users:
- Power Generation
- Power Grids
- Energy & Utilities
- Oil & Gas
Market Research Methodology - Perfected through Years of Diligence
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