Active Network Management Industry

An increase in demand for active network management due to reliability and active notifications are like to drive the Active Network Management Industry.

PORTLAND, OR, UNITED STATES, November 16, 2021 /EINPresswire.com/ -- The industrial energy and utilities market saw significant demand in the global active network management industry in 2016 due to the growing number of distribution systems and substation-based networks. In addition, reduced power distribution costs and optimized network solutions are expected to drive market growth in the near future. In addition, the transportation industry is embracing active network management in some regions due to the strong demand for high voltage network connectivity in active network management.

According to a new report published by Allied Market Research, titled, Active Network Management Industry by Type, Application, and Industry: Global Opportunity Analysis and Industry Forecast, 2017-2023, the global Active Network Management Industry 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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The active network management industry in North America was the largest in the world in 2016 due to growing demand for automated solutions and increasing acceptance of active network management. Global players are focusing on innovating smart solutions in power distribution to enhance their product offerings. For example, in February 2017, Oracle released an enhanced version of its network management platform to streamline network operations. This strategic move is expected to expand the company's presence in the active network management industry. In addition, industry participants focused on improving active network management to ensure the skills and efficiency of active network management solutions in other emerging markets such as Latin America, the Middle East and Africa.

Increased demand for smart energy management solutions and increased ICT spending are expected to drive market penetration. Popular markets such as North America, Europe and Asia Pacific offer growth opportunities for the global active network management industry. In addition, the increasing adoption of real-time network monitoring is expected to drive the growth of the active network management industry in the near future.

North America was the highest revenue contributor in 2016, accounting for around 36.7% share of the overall market. In addition, Asia-Pacific is projected to grow at the highest CAGR of 17.8% during the forecast period, driven by growth in investment on electric generation for various industry verticals such as energy & utility, transportation, government, construction, and others.

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 Industry growth.

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Key Findings of the Active Network Management Industry:
• The automation application accounted for the highest share of the global market in 2016, growing at a CAGR of 13.8% from 2017 to 2023.
• North America generated the highest revenue in 2016, valued at $166 million.
• The service segment dominated the global Active Network Management Industry, in terms of growth, during the forecast period.
• The U.S. dominated the global market in 2016. In addition, Canada, China, India, Japan, and the other emerging markets are anticipated to provide significant opportunities for major players.

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