The outage management system market is garnering increasing traction globally. Substantial investments in energy generation and rising electric utilities drive the market growth. Besides, challenges related to distribution grids and the rising implementation of ADMS boost the market size.
With the increasing penetration of outage management systems in distribution grids, the market is projected to garner significant gains in the next few years. In this regard, Market Research Future (MRFR) states that the global outage management system market is expected to reach USD 4.41 BN by 2030, growing at a whopping 21.3% CAGR throughout the review period (2022–2030).
Additionally, higher spending on smart grid developments and stringent government regulations & initiatives escalate the market value. Also, the addition of renewable energy capacity increases the market shares. Furthermore, increasing government focus on integrating outage management systems for efficient grid management substantiates the market revenues.
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On the flip side, high initial installation and maintenance costs of OMSs impede the market growth, impacting sales. OMS manufacturers and technology providers are increasingly focusing on reducing the production cost of components used in OMSs. Also, vast investments required to boost grid networks and distribution capacities pose challenges for market growth.
Outage Management System Market – Segments
The report segments market dynamics into tуреs, components, аррlісаtіоns, and regions. The tуре segment is bifurcated into іntеgrаtеd OMS and ѕtаndаlоnе OMS. The component segment is bifurcated into software systems, communication systems, and others. The аррlісаtіоn segment is bifurcated into рublіс and рrіvаtе utіlіties. The region segment is bifurcated into the Americas, Asia Pacific, MEA, Europe, and rest-of-the-world.
Outage Management System Market – Regional Analysis
North America is the largest market for outage management systems (OMSs). Besides, the rising focus on faster power restoration processes and reducing operational & outage costs with easy-to-generate historical statistics boost the market size. Moreover, favorable government regulations and incentives for utilities to achieve system-wide energy savings and reduce peak demand substantiate the region’s market share.
Global Outage Management System Market – Competitive Landscape
This market appears highly competitive and fragmented due to the presence of several well-established players. To gain a larger competitive share in the market, these players adopt strategies such as collaboration, acquisition, product/ technology launch, and expansion.
Substantial investments are poured into developing products and expanding global footprints. Most players adopt organic business strategies, whereas tier I & II companies emphasize inorganic business strategies to achieve their goals.
Major Players
Players leading the global outage management system market are General Electric Company (US), Oracle Corporation (US), ABB Ltd. (Switzerland), Siemens AG (Germany), Intergraph Corporation (US), Schneider Electric SE (France), Survalent Technology Corporation (Canada), S&C Electric Company (US), Advanced Control Systems Inc. (US), and CGI Group (Canada), among others.
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Industry/Innovation/Related News:
Nov.22, 2021 — GE Digital announced its partnership with New Zealand’s Counties Energy, an electricity distribution network provider, to implement its advanced distribution management system (ADMS) as part of its digital utility transformation program.
Under the partnership, GE would implement its ADMS solution in combination with the utility’s existing implementation of its Digital’s Smallworld Electric Office, a network-based Geographic Information System (GIS). This will help Counties Energy drive greater reliability, resiliency and flexibility for its network assets through richer multi-source data.
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