Report : South & Central America 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 13.1% CAGR, South & Central America Active Network Management Market is Projected to be Worth US$ 155.69 Million by 2031, says Business Market Insights
According to Business Market Insights' research, the South & Central America active network management market was valued at US$ 58.08 million in 2023 and is expected to reach US$ 155.69 million by 2031, registering a CAGR of 13.1% from 2023 to 2031. Increasing adoption of real-time grid monitoring and integration of AI-driven Optimization are among the critical factors attributed to the South & Central America active network management market expansion.
Real-time grid monitoring allows grid operators to have an accurate and up-to-date understanding of the electrical grid's performance, including power flows, voltages, and equipment conditions. With the increasing complexity and interconnectivity of modern power systems, real-time grid monitoring has become essential for ensuring reliable and efficient electricity delivery. Active network management involves the use of advanced software and hardware solutions to manage and optimize the operation of the electrical grid actively. By integrating real-time grid monitoring into active network management systems, grid operators can make faster and more informed decisions to maintain grid stability, reduce power outages, and optimize energy efficiency. The rising adoption of real-time grid monitoring is expected to offer significant opportunities to the South & Central America active network management market in the coming years.
On the contrary, high deployment cost hampers the growth of South & Central America active network management market.
Based on component, the South & Central America active network management market is bifurcated into software and services. The software segment held 80.6% share of the South & Central America active network management market in 2023, amassing US$ 46.80 million. It is projected to garner US$ 127.02 million by 2031 to expand at 13.3% CAGR during 2023-2031.
In terms of industry, the South & Central America active network management market is segmented into energy & utilities, transportation, oil & gas, manufacturing, and others. The energy & utilities segment held 39.6% share of the South & Central America active network management market in 2023, amassing US$ 23.01 million. It is estimated to garner US$ 66.09 million by 2031 to expand at 14.1% CAGR during 2023-2031.
By application, the South & Central America active network management market is segmented into grid asset management, real-time monitoring, and automation. The grid asset management segment held 64.1% share of South & Central America active network management market in 2023, amassing US$ 37.20 million. It is predicted to garner US$ 93.81 million by 2031 to expand at 12.3% CAGR during 2023-2031.
In terms of organization size, the South & Central America active network management market is bifurcated into small & medium enterprises and large enterprises. The large enterprises segment held 74.7% share of the South & Central America active network management market in 2023, amassing US$ 43.36 million. It is estimated to garner US$ 112.89 million by 2031 to expand at 12.7% CAGR during 2023-2031.
Based on country, the South & Central America active network management market is categorized into Brazil, Argentina, and the Rest of South & Central America. Brazil held 58.6% share of South & Central America active network management market in 2023, amassing US$ 34.05 million. It is projected to garner US$ 93.28 million by 2031 to expand at 13.4% CAGR during 2023-2031.
Key players operating in the South & Central America active network management market are ABB Ltd, Cisco Systems Inc, International Business Machines Corp, Oracle Corp, Siemens AG, and ZIV Automation, among others.
Contact Us
Contact Person: Sameer Joshi
Phone: +1-646-491-9876
Email Id: sales@businessmarketinsights.com