Report : Middle East & Africa Active Network Management Market Forecast to 2031 - Regional Analysis - by Component (Software and Services), Industry (Energy and Utilities, Transportation, Oil and Gas, Manufacturing, and Others), Application (Grid Asset Management, Real-Time Monitoring, and Automation), and Organization Size (Small and Medium Enterprises and Large Enterprises)
At 14.8% CAGR, Middle East & Africa Active Network Management Market is Projected to be Worth US$ 245.95 Million by 2031, says Business Market Insights
According to Business Market Insights' research, the Middle East & Africa active network management market was valued at US$ 81.53 million in 2023 and is expected to reach US$ 245.95 million by 2031, registering a CAGR of 14.8% from 2023 to 2031. Rising deployment of IoT/connected devices across energy and utilities and increasing adoption of real-time grid monitoring are among the critical factors attributed to the Middle East & Africa active network management market expansion.
The increasing deployment of artificial intelligence (AI), the internet of things (IoT), and advanced data analytics has transformed the way natural resources are processed and distributed. These technologies have enabled the development of smart and fully controlled work processes, leading to improved productivity and efficiency in the utility sector, thereby offering significant opportunities for the Middle East & Africa active network management market. The key technology driving the transformation of the energy and utility sector is the IoT enables intelligent automation, which improves efficiency, increases revenue, and conserves enterprise resources. By leveraging IoT, utility companies can achieve smarter grid management, efficient energy production, and improved user experience. Thus, constant developments in IoT solutions across the energy sector are expected to offer immense opportunities to the market.
On the contrary, high deployment cost hampers the growth of Middle East & Africa active network management market.
Based on component, the Middle East & Africa active network management market is bifurcated into software and services. The software segment held 77.3% share of the Middle East & Africa active network management market in 2023, amassing US$ 63.04 million. It is projected to garner US$ 192.76 million by 2031 to expand at 15.0% CAGR during 2023-2031.
In terms of industry, the Middle East & Africa active network management market is segmented into energy & utilities, transportation, oil & gas, manufacturing, and others. The energy & utilities segment held 38.1% share of the Middle East & Africa active network management market in 2023, amassing US$ 31.05 million. It is estimated to garner US$ 100.59 million by 2031 to expand at 15.8% CAGR during 2023-2031.
By application, the Middle East & Africa active network management market is segmented into grid asset management, real-time monitoring, and automation. The grid asset management segment held 58.1% share of Middle East & Africa active network management market in 2023, amassing US$ 47.39 million. It is predicted to garner US$ 133.88 million by 2031 to expand at 13.9% CAGR during 2023-2031.
In terms of organization size, the Middle East & Africa active network management market is bifurcated into small & medium enterprises and large enterprises. The large enterprises segment held 71.3% share of the Middle East & Africa active network management market in 2023, amassing US$ 58.10 million. It is estimated to garner US$ 170.14 million by 2031 to expand at 14.4% CAGR during 2023-2031.
Based on country, the Middle East & Africa active network management market is categorized into South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa. Saudi Arabia held 34.0% share of Middle East & Africa active network management market in 2023, amassing US$ 27.71 million. It is projected to garner US$ 88.95 million by 2031 to expand at 15.7% CAGR during 2023-2031.
Key players operating in the Middle East & Africa active network management market are ABB Ltd, Cisco Systems Inc, International Business Machines Corp, Oracle Corp, Siemens AG, and ZIV Automation, among others.
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