Active Network Management Market to 2023: Trends and Growth Analysis, Segmentation and Key Players
Transportation industry is expected to witness the highest growth rate during the forecast period, owing to rise in power distribution for signaling, electric railway management, and centralized tracking monitoring systems. Moreover, increase in demand for active network management due to enhanced uptime, reliability, alarm monitoring, and active notifications are anticipated to drive the active network management market among end user industries.
The global active network management market was valued at $451 million in 2016, and is projected to reach $1,173 million by 2023, growing at a CAGR of 14.9% from 2017 to 2023.
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North America active network management market was the largest in the world in 2016, owing to the growth in demand for automation solutions and increase in adoption of active network management. Global players are focused on innovating smart solution in energy distribution to strengthen their product offering. For instance, in February 2017, Oracle Corporation launched an enhanced version of network management platform to optimize operations of grid networks. This strategic move is expected to expand the companys presence in active network management market. In addition, industry participants have focused on improving their active network management to ensure competence and effectiveness of the active network management solution across other emerging markets such as Latin America, the Middle East, and Africa.
The increase in demand for smart energy management solution and surge in ICT expenditure are anticipated to augment the market penetration. The prominent markets, such as North America, Europe, and Asia-Pacific, provide growth opportunities to the global active network management market. Moreover, growth in adoption of real-time monitoring of grids is anticipated to fuel the active network management market growth in the near future.
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The key players profiled in the study are ABB Ltd, Chemtrols Industries Pt. Ltd., Cisco Systems, Inc., General Electric, IBM Corporation, Kelvatek Ltd., Oracle Corporation, Schneider Electric SE, Siemens AG, and Smarter Grid Solution. All these players are involved in the competitive strategies, such as geographical expansion, mergers & acquisitions, product portfolio expansion, and partnership to augment the active network management market growth.
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