According to a research report “Active Network Management Market by Component (Software and Services), Service (Professional and Managed Services), Organization Size (SMEs and Large Enterprises), Application Area (Power, Energy & Utilities), and Region – Global Forecast to 2023″, The global 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 2018–2023. Major driving factors for the ANM market are growth in adoption of IoT/connected devices across the energy and utilities ecosystem, rising number of smart city projects leading to the adoption of smart energy distribution strategies, and increasing demand for uninterruptible transmission of electricity among end users. The ANM market is growing rapidly because of growth in renewable energy (solar and wind power) commercialization.
Browse 80 market data Tables and 41 Figures spread through 132 Pages and in-depth TOC on “Active Network Management Market – Global Forecast to 2023″
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North America to dominate the ANM market during the forecast period
North America is estimated to hold the highest share of the ANM market by region in 2018, as the region is a mature and well-established market with healthy risk appetite and inclination toward technological innovations, thereby presenting a plethora of opportunities for financial technology vendors and service providers. The ANM market in Asia Pacific (APAC) is expected to grow at the highest CAGR between 2018 and 2023. Primary forces driving the growth include increasing technology adoption, significant opportunities across the power and utilities sector, and increasing number of smart city projects in major APAC countries, especially India and China.
Major technology vendors in the ANM market include General Electric (US), ABB (Switzerland), Siemens (Germany), Schneider Electric SE (France), Itron (US), Landis+Gyr (Switzerland), Cisco (US), IBM (US), Oracle (US), Indra Sistemas (Spain), Chemtrols (India), Camlin (Ireland), Smarter Grid Solutions (UK), ZIV (France), and Argand Solutions (UK).
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ABB is a pioneer technology leader in power and automation, which increases productivity and reduces the impact on the environment from utility, industry, and transport, and infrastructure. ABB offers a robust portfolio of products, solutions, and services for the energy and utilities market, to meet the customers’ rapidly changing requirements. The company’s power system division involves water, gas, and electric utilities. The power division offers smart grid and network management in its electric utility segment. The division is responsible for direct selling to end users, such as transmission, distribution, and power generating operators or the owners of the power plant. The power division contributes a significant part to the total revenue generation. The ABB Network Manager ADMS is a real-time system that helps the utility manages operations in a distribution control center.
Siemens has maintained a leading position in the ANM market with its innovative and cutting-edge technological developments. The company’s earnings are solid, and it is managing its risk in a proper manner. The company’s Spectrum Power active network management helps utilities industries detect the faults by analyzing the smart grid networks. The company focuses on strategic alliances and partnerships with high-technology companies to create integrated solutions and services.
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