Active Network Management Market Segmentation:
Component Segment Analysis
The software segment in the active network management market is estimated to gain the largest revenue share of about 55% in the year 2035. The segment growth can be credited to the rise in demand for effective load-balancing modules and power distribution management systems in power grids. Several European nations, such as Belgium, the Netherlands, Germany, and the United Kingdom, are putting smart energy distribution systems into place to allocate power more efficiently.
A variety of management suites and platforms, including advanced metering infrastructure (AMI), distribution automation, geographic information systems, outage management, and telecommunication network management, are included in active network management software solutions.
For example, ABB introduced its new ABB Ability e-mesh solution in February 2019. An integrated, unified, and single picture of the distributed energy resources (DERs), such as microgrids, battery energy storage systems (BESS), and renewable power generation, will be made available to power grid operators by this solution.
Application Segment Analysis
The grid asset monitoring segment is set to account for a share of 50% during the forecast timeframe. The segment’s growth is impelled by the growing environmental concerns globally. Energy consumption has increased dramatically over time, and between January 2022 and September 2022, almost USD 25 billion was invested globally in energy storage and smart grids.
Energy storage firms are essential to the switch from fossil fuels to sustainable energy sources, hence it is anticipated that these investments will increase. Grids are receiving more input from renewable energy sources than they were intended to because of the rising demand for electricity.
Given that over 70% of downtime and maintenance expenses are attributed to malfunctioning or aged transformers, transformer monitoring is crucial. Active network management (ANM) and asset performance management (APM) are crucial technologies for implementing this transformation. The US Department of Energy (DoE) projects that by 2026, US electric utilities would have invested a total of 24.5 billion USD in capital projects related to IT and OT digital technologies. 16.4 billion USD of this will go into smart grid systems and technologies. The market is predicted to propel in this segment as a result.
Our in-depth analysis of the market includes the following segments:
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