The global Active Network Management (ANM) market size is expected to grow from USD 682 million in 2018 to USD 1,411 million by 2023, at a Compound Annual Growth Rate (CAGR) of 15.6%
NEW YORK, April 22, 2019 /PRNewswire/ -- Increasing demand for uninterruptible transmission of electricity among end users and efficient power management solutions to drive the overall ANM market
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The global Active Network Management (ANM) market size is expected to grow from USD 682 million in 2018 to USD 1,411 million by 2023, at a Compound Annual Growth Rate (CAGR) of 15.6% during the forecast period. Major growth factors for the market include increasing demand for uninterruptible transmission of electricity among end users and efficient power management solutions. However, high cost of ANM technology deployment may restrain the ANM market growth.
In the power segment, power grids segment to grow at a higher CAGR during the forecast period
Under the power segment, the ANM market has been segmented into power generation and power grids.The power grids segment is expected to grow at the higher CAGR in the ANM market during the forecast period.
Major growth factors for the segment include increasing efficiency of power generation and reducing the losses in transmission, distribution, and consumption of electrical energy.
The software segment to hold a larger market size during the forecast period
The software segment is expected to hold a larger market size in the ANM market during the forecast period.ANMis real-time testing software and smart tool for distribution grids.
The software helps monitor and control the operations of all network components, such as smaller energy generators, renewable generation, and storage devices. Need for controlling voltage fluctuations within power and electric grid networks is driving the adoption of ANM software.
North America to account for the highest market share, whereas Asia Pacific (APAC) to grow at the highest CAGR
North America is projected to hold the highest share of the ANM market from 2018 to 2023, owing to the early adoption of the ANM solution in the region across various application areas, such as power, and energy and utilities.The concentrated presence of large number of ANM solution and services providers in the US of the North American region is also expected to drive revenue growth.
The APAC market is expected to grow at the highest CAGR during the forecast period. The region is expected to witness notable adoption of the technology, as enterprises across the utilities industry are now adopting ANM solutions to better manage smart grid applications.
In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the ANM marketspace.
• By Company: Tier 1 – 20%, Tier 2 – 55%, and Tier 3 – 25%
• By Designation: C-level – 50%, Director level – 25%, and Others – 25%
• By Region: North America – 45%, APAC – 25%, Europe – 20%, RoW – 10%
Major vendors in the global ANM market include GE (US), ABB (Switzerland), Siemens (Germany), Schneider Electric (France), Itron (US), Landis+Gyr (Switzerland), Cisco (US), IBM (US), Oracle (US), Smarter Grid Solutions (UK), Indra (Spain), Chemtrols Industries (India), Camlin (Ireland), Ziv (France), and Argand Solutions (UK).
Research Coverage
The market study covers the global ANM market across segments.It aims at estimating the market size and the growth potential of the market across segments, such as component (software and service), organization size, application area, and region.
The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Key Benefits of Buying the Report
The report will help the market leaders/new entrants in the ANM market with information on the closest approximations of the revenue numbers for the overall ANM market and the subsegments.This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and to plan suitable go-to-market strategies.
The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
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