Report : Europe Active Network Management Market Forecast to 2031 - Regional Analysis - by Component (Software and Services), Industry (Energy and Utilities, Transportation, Oil and Gas, Manufacturing, and Others), Application (Grid Asset Management, Real-Time Monitoring, and Automation), and Organization Size (Small and Medium Enterprises and Large Enterprises)
At 17.2% CAGR, Europe Active Network Management Market is Projected to be Worth US$ 1,308.73 Million by 2031, says Business Market Insights
According to Business Market Insights' research, the Europe active network management market was valued at US$ 366.54 million in 2023 and is expected to reach US$ 1,308.73 million by 2031, registering a CAGR of 17.2% from 2023 to 2031. Surging number of smart city initiatives and growth in renewable energy generation are among the critical factors attributed to the Europe active network management market expansion.
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. The increasing number of smart city initiatives drives the demand for active network management solutions, thereby favoring the market.
On the contrary, high deployment cost hampers the growth of Europe active network management market.
Based on component, the Europe active network management market is bifurcated into software and services. The software segment held 69.3% share of the Europe active network management market in 2023, amassing US$ 253.94 million. It is projected to garner US$ 925.32 million by 2031 to expand at 17.5% CAGR during 2023-2031.
In terms of industry, the Europe active network management market is segmented into energy & utilities, transportation, oil & gas, manufacturing, and others. The energy & utilities segment held 31.8% share of the Europe active network management market in 2023, amassing US$ 116.72 million. It is estimated to garner US$ 454.96 million by 2031 to expand at 18.5% CAGR during 2023-2031.
By application, the Europe active network management market is segmented into grid asset management, real-time monitoring, and automation. The grid asset management segment held 46.6% share of Europe active network management market in 2023, amassing US$ 170.91 million. It is predicted to garner US$ 567.70 million by 2031 to expand at 16.2% CAGR during 2023-2031.
In terms of organization size, the Europe active network management market is bifurcated into small & medium enterprises and large enterprises. The large enterprises segment held 66.4% share of the Europe active network management market in 2023, amassing US$ 243.37 million. It is estimated to garner US$ 846.64 million by 2031 to expand at 16.9% CAGR during 2023-2031.
Based on country, the Europe active network management market is categorized into Germany, France, the UK, Italy, Spain, and the Rest of Europe. Germany held 27.9% share of Europe active network management market in 2023, amassing US$ 102.31 million. It is projected to garner US$ 413.50 million by 2031 to expand at 19.1% CAGR during 2023-2031.
Key players operating in the Europe active network management market are ABB Ltd, Cisco Systems Inc, International Business Machines Corp, Oracle Corp, Siemens AG, Argand Solutions, Smarter Grid Solutions, and ZIV Automation, among others.
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