Outage Management System Market: Current Analysis and Forecast (2022-2028)

The global Outage management system Market is expected to grow at a significant rate of around 18% during the forecast period. An outage Management System (OMS) is a computer system and software used by system operators to reduce outage time and help allocate resources for system restoration. Factors that are escalating its market growth are driven by rising global energy demand due to the expanding population and rapid urbanization rate across emerging regions. Additionally, increasing government focus on integrating outage management systems for efficient grid management would substantiate the market revenues. Smart grid technologies are increasingly becoming primitive for utilities to match the rising energy demand and help consumers to enhance their energy management capabilities. Utility technologies such as outage management systems help meet this demand.

Moreover, an outage management system helps to reduce the duration of outages and maintenance, provides an efficient prediction of outages and their location, and also helps in the reduction of the number of complaints registered by end users. In addition, the mounting integration of outage management systems with smart devices is creating opportunities for the outage management system market in the coming years.

ABB Ltd., General Electric Company, Oracle Corporation, Schneider Electric SE, Siemens AG, Intergraph Corporation, Advanced Control Systems Inc., CGI Group, Survalent Technology Corporation and S&C Electric Company.

Insights Presented in the Report

"Amongst type, integrated OMS category to witness robust CAGR during the forecast period"

Based on type, the outage management system market is classified into standalone OMS and integrated OMS. The integrated OMS segment caters substantial share of the market. Integration of the outage management system with advanced metering infrastructure enhances functionality and improves the outage management process. As the advanced metering infrastructure are well equipped it provides an outage management system and an outage notification message from the meter when it loses voltage.

"Amongst component, software system segment to hold a significant share in the market in 2020"

Based on the component, the outage management system market is categorized into a software system and a communication system. The software system segment caters to an extensive share of the market and is expected to grow at an influential rate in the forecasted period as well. It is mainly owing to the increasing advancements in the use of software and internet-of-things that are expected to increase the reliability of the outage management system.

"Asia Pacific to hold a significant share in the market"

Asia Pacific is anticipated to grow at a substantial CAGR during the forecast period. This is mainly attributed to the vast customer network spread over a large area, which requires the need to manage power outages as they happen. An outage management system helps in accessing the information and provides a mechanism that improves consumer handling and satisfaction, thereby maximizing customer retention and increasing the profit for the electricity distributor, thereby increasing the growth of the market.

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Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.

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Deep dive regional level analysis of the industry.

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