The rise in the need for efficient power management solutions and an increase in demand for smart energy planning in smart city projects have boosted the growth of the global active network management market.
However, the lack of infrastructure for efficient power distribution networks in underdeveloped regions hinders market growth. On the contrary, the surge in renewable energy generation would open new opportunities in the future.
As per the report, the global active network management industry was pegged at $782.80 million in 2020, and is expected to reach $3.2 billion by 2030, growing at a CAGR of 15.2% from 2021 to 2030.
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By application, the automation segment held the largest share in 2020, accounting for nearly two-fifths of the global active network management market, due to benefits including improved power distribution, easy availability of the services, and low upstream and downstream time.
However, the grid asset monitoring segment is expected to register the highest CAGR of 17.8% during the forecast period. This is due to rise in demand for smart metering, operational utility applications, and substation automation.
By industries, the transportation segment would showcase the highest CAGR of 18.4% from 2021 to 2030, due to adoption of active network management solutions to optimize the metro and rail transportation systems.
However, the energy and utility segment held the largest share in 2020, contributing to more than two-fifths of the global active network management industry, due to surge in applications for security infrastructure management and group-based configuration systems.
By region, the market across North America held the lion’s share in 2020, accounting for around two-fifths of the market, due to surge in demand for automation solution and rise in adoption of active network management solutions.
However, the global active network management market across Asia-Pacific would showcase the highest CAGR of 19.1% from 2021 to 2030, owing to rise in investment on electricity generation for several industry verticals including energy & utility, transportation, construction, and government.
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