PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1363872
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1363872
Global Active Network Management Market is valued approximately at USD 1038.86 million in 2022 and is anticipated to grow with a healthy growth rate of more than 15.2% over the forecast period 2023-2030. Active Network Management is a set of techniques used in the field of electrical power systems to actively monitor and control the flow of electricity in real-time. It is an approach that enables better integration of renewable energy sources, improves grid efficiency, and enhances system reliability. The Active Network Management market is expanding because of factors such as rise in need for automation and rising electricity generation.
Active Network Management involves continuous monitoring of grid parameters such as voltage, frequency, and power flow in real-time. Automation enables the efficient collection and processing of data from numerous sensors and measurement devices distributed throughout the network. According to the Statista, in 2020, the global industrial automation industry will be worth approximately USD 175 billion. Until 2025, the market is predicted to develop at a compound annual growth rate of about 9%. The global industrial automation market is expected to be worth approximately $265 billion USD by 2025. Another important factor drives the Active Network Management market is increasing number of active internet users. As Active Network Management used in electrical power systems to actively monitor and control the flow of electricity. It focuses on optimizing the operation of the power grid, integrating renewable energy sources, and improving system reliability. In addition, as per Statista, it is projected that global electricity demand will reach around 35.3 petawatt hours by 2040. Moreover, increasing demand of renewable energy generation and rising technological advancement in Active Network Management systems is anticipated to create a lucrative growth opportunity for the market over the forecast period. However, the high cost of active network management and risk associated to data breach stifles market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Active Network Management Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the presence of key market players in the region such as General Electric and Oracle Corporation. Furthermore, Asia Pacific is expected to grow significantly during the forecast period, owing to factors such as increase in deployment of automated application.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below.
List of tables and figures and dummy in nature, final lists may vary in the final deliverable
List of tables and figures and dummy in nature, final lists may vary in the final deliverable