Market Synopsis —
Globally, the active network management (ANM) market is expected to grow from USD 728.3 million in 2019 to USD 1,583.4 million by 2024 at a CAGR of 16.8% from 2019 to 2024. The growth can be attributed to the increasing demand for management of power supply from distributed renewable energy sources; furthermore, the need to avoid overloading of power grids, and making maximum use of available energy are also some of the driving factors for the adoption of active network management solution.
Today's smart grids have adopted various intelligent solutions to control the power supply and integrate different sources of energy, including renewable sources. ANM is a software solution for power grids that helps in avoiding voltage range infringements, prevents imbalance between power generation and its consumption, and overload. ANM has been a proven solution for grid stability, reliable voltage regulation, and peak load management.
Development of smart grids across the globe and increasing usage of renewable energy sources are encouraging smart grid companies to widely adopt ANM solutions. However, less awareness of advanced smart grid solutions in developing economies is expected to limit the growth of the ANM market during the forecast period.
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The prominent players in ANM market are IBM Corporation (US), Cisco Systems, Inc. (US), Siemens AG (Germany), Schneider Electric (France), Oracle Corporation (US), GE (US), Landis+Gyr (Switzerland), Itron, Inc. (US), ABB Ltd (Switzerland), Camlin Ltd (Irelance), ZIV (Spain), Argand Solutions (UK), Chemtrols Industries Pvt. Ltd (India), Smarter Grid Solutions (Scotland), and Indra (Spain).
The global Active Network Management Market is segmented based on component, organization size, application, and region/country.
• By component, the market has been segmented into software and services. The services segment has been further bifurcated into professional and managed services. Professional services covered in the study are consulting services, implementation and integration services, and support and maintenance services.
• By organization size, the market has been segmented into large enterprises and SMEs.
• By application, the market has been segmented into power generation, power grid and transmission, oil and gas, and water treatment and distribution.
• By region, the market has been segmented into North America, Europe, Asia-Pacific, and the rest of the world. North America has been further segmented into the US, Canada, and Mexico; Europe into Germany, the UK, France, and the rest of Europe; Asia-Pacific into China, India, Japan, and the rest of Asia-Pacific; and Rest of the World into the Middle East & Africa, and South America.
The global market for ANM is estimated to grow at a moderate rate during the forecast period from 2018 to 2023. The geographic analysis of global ANM market has been conducted for North America, Europe, Asia-Pacific, and the rest of the world.
North America is expected to dominate the ANM market during the forecast period. North America region is considered as the most advanced region in terms of development and adoption of innovative technologies in the field of electrical and electronics. The region has a huge potential for revenue generation in the ANM market, particularly from its smart grid projects. The US is expected to be the dominating country in the ANM market in North America during the forecast period.
Asia-Pacific is expected to grow at the fastest rate during the forecast period. Fast development towards the transformation of traditional grids into smart grids is expected to boost the growth of the market in the APAC region. China, Japan, and India have been the leading countries in the APAC region in terms of market share, and this trend is expected to continue in the upcoming years.
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• Active Network Management Solution Vendors
• Power Grid Organizations
• Government agencies
• Standard making bodies
• Distributors and Value-added Resellers (VARs)
• Energy and Utilities Companies
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Release ID: 514987