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Active Network Management Market Worth $4.51 Billion, Globally, by 2031 - Exclusive Report by The Insight Partners
Globe Newswire 28-Aug-2024 6:28 AM
US & Canada, Aug. 28, 2024 (GLOBE NEWSWIRE) -- Active network management refers to the proactive monitoring, controlling, and optimizing network resources to enhance performance, reliability, and security. Furthermore, active network management maximizes the efficiency and effectiveness of network operations. It encompasses activities such as real-time monitoring of network traffic, identifying and resolving potential bottlenecks, implementing load balancing mechanisms, and deploying security measures to safeguard sensitive data. By actively monitoring and analyzing network traffic, businesses can quickly identify and mitigate potential threats and vulnerabilities. This proactive approach detects and responds to security breaches, prevents unauthorized access, and safeguards critical business information.
The rise in energy costs and environmental concerns has prompted organizations to prioritize energy efficiency. As businesses strive to minimize energy waste, reduce costs, and enhance sustainability, the concept of active network management has emerged as a vital tool. Active network management harnesses advanced technologies and intelligent algorithms to optimize power distribution, enabling businesses to achieve significant improvements in efficiency. Therefore, the global active network management market is growing due to an increasing demand for efficient power management solutions.
Key Active Network Management Market Findings:
Geographically, the active network management market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America. North America dominated the active network management market in 2023.
Based on component, the market is bifurcated into software and services. The software segment held a larger share of the active network management market in 2023.
By industry, the market is segregated into energy and utility, transportation, oil and gas, manufacturing, and others. The energy and utilities segment held the largest share of the active network management market in 2023.
In terms of application, the market is divided into grid asset monitoring, real-time monitoring, and automation. The grid asset management segment held the largest share of the active network management market in 2023.
Based on organization size, the market is segmented into small and medium-sized enterprises and large enterprises. The large enterprises segment dominated the active network management market in 2023.
As urbanization accelerates, governments and organizations are increasingly investing in smart city initiatives to enhance sustainability, efficiency, and quality of life. Smart cities leverage advanced technologies to optimize urban services, including transportation, energy, waste management, and public safety. These projects require a robust and interconnected network infrastructure to enable seamless communication between devices, systems, and stakeholders. Active network management systems excel in managing the intricate web of sensors, meters, grids, and other smart city components, ensuring efficient energy distribution, grid stability, and reliable service delivery. Furthermore, active network management plays a crucial role in ensuring the smooth operation of the above-mentioned complex networks, making them vital for the smart city infrastructure.
In the US, in November 2021, President Biden enacted a bipartisan infrastructure bill worth US$ 1 trillion, which provides funding for transportation, broadband, and utilities. A significant portion of this funding, amounting to US$ 500 million, has been allocated to smart city initiatives through the Strengthening Mobility and Revolutionizing Transportation (SMART) grant program. This funding will help the city leaders to recognize their approach to smart projects and utilizing data to guide new investments that will genuinely benefit residents, mitigate potential failures, and enhance the overall efficiency and effectiveness of cities. Thus, the increasing number of smart city initiatives drives the demand for active network management solutions, thereby favoring the market.
Rising Deployment of IoT/Connected Devices across Energy and Utilities:
The increasing deployment of artificial intelligence (AI), the Internet of Things (IoT), and advanced data analytics has transformed the way natural resources are processed and distributed. These technologies have enabled the development of smart and fully controlled work processes, improving productivity and efficiency in the utility sector. IoT is the key technology that enables intelligent automation to improve efficiency, increase revenue, and conserve enterprise resources. It also helps in smarter grid management, more efficient energy production, and better user experience.
For instance, in January 2021, Nottingham implemented an innovative IoT solution called OpenRemote to enhance its energy management capabilities. This solution helps in managing the usage of locally generated renewable energy, reducing carbon emissions, and optimizing expenses related to electric vehicle (EV) charging. By leveraging OpenRemote, energy management systems can access comprehensive analytics dashboards for analyzing various aspects, such as the performance of solar power generation, the status of electric fleet chargers, the charge level of vehicle batteries, and the financial and environmental savings achieved through optimization strategies. This implementation aims to empower government bodies to maximize the benefits of renewable energy sources while promoting sustainability.
Key Active Network Management Market Dynamics: Impact Analysis
Recent Developments in Active Network Management Market:
In April 2024, GE Vernova's Grid Solutions business (a leader in advanced grid technologies) and Sonelgaz (Algeria's national electricity and gas company) expanded their existing capabilities at GE Algeria Turbines (GEAT) for the deployment of grid solutions. This strategic agreement, effectuated through the amendment of their existing joint venture, represented a significant step toward achieving Algeria's energy objectives. It demonstrated a shared commitment to accelerate sustainable energy development, localizing industrial capabilities, and economic growth.
In February 2024, GE Vernova's Grid Solutions business (NYSE:GE) launched the Grid Beats, a comprehensive portfolio of software-defined automation solutions aimed at streamlining grid digitalization and enhancing grid resilience.
In June 2023, Cisco launched the Networking Cloud Platform that offers a unified interface for managing networking devices, alongside updates to its Thousand Eyes infrastructure monitoring service and Catalyst portfolio.
In February 2023, Oracle announced new Oracle Utilities Network Management System features to help utilities navigate the fast-evolving energy grid and rapidly expanding distributed energy resources (DERs). New automated grid management and built-in AI enable planning and control of DER and grid-edge devices, boost network visibility with real-time insights, and provide a unified user experience across multiple platforms.
Active Network Management Market Segmentation, by Geography
Active Network Management Market - Regional Landscape
Source: The Insight Partners' Analysis
North America dominated the active network management market, followed by Europe and APAC in 2023. The North America active network management market is segmented into the US, Canada, and Mexico. The technology breakthroughs and wide acceptance are factors boosting the regional market. North America has a well-equipped infrastructure and is capable of affording active network management solutions.
The Europe active network management market is segmented into Germany, France, Italy, the UK, Russia, and the Rest of Europe. Several successful and ongoing pilot active network management projects, such as Enel - Puglia Active Network, SP Energy Networks - Dumfries & Galloway Integrated Network Management, Enedis - Nice Grid & others, Vattenfall - Askersund Microgrid, and SSE - Orkney Island, have been implemented in Europe. These projects aim to develop energy management solutions and improve network design, operation, and maintenance.
The Asia Pacific active network management market is experiencing significant growth, with countries such as China, Japan, South Korea, and India being the major contributors to the market expansion. These countries are actively incorporating active network management technology into their renewable energy industries.
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Source: The Insight Partners' Analysis
Source: The Insight Partners' Analysis
Source: The Insight Partners' Analysis
Source: The Insight Partners Analysis
