The Outage Management System Market is predicted to increase the market growth at USD 2,195.6 Million by 2027. Further, the market has aimed to achieve a CAGR of 17.85% by the end of 2027.
The electric distribution systems extensively use an outage management system or a computer system to assist in power restoration. The outage management system is helpful to generate valuable historical information, report it, and efficiently identify and resolve outages.
In the Outage Management System Market, the communication system component is predicted to contribute the largest Market Size for the forecast period. In the year 2015, the communication system segment has dominated the global market. Further, it is predicted to increase at the fastest rate for the assessment period due to the increasing advanced outage management systems demand in various parts of the world. Moreover, the communication system component is primarily driven because of the increasing reliable control systems demands for quicker restoration and proper monitoring, which has predicted to grow the Market Size for the research period.
As per the Outage Management System Industry report, the growth of the global market is somewhat relying on the demands of the intended audiences like Research Institute or Education Institute, Manufacturing Organizations, Government organizations, Potential Investors, Power Associations, and Service Provider. Moreover, the increasing investments and research on the Market boost the market growth.
COVID-19 Impact Analysis
The ongoing COVID-19 pandemic has affected many organizations and firms for the year 2020. And, the Global Outage Management System Market was one of them. The global market has been affected due to the announcement of pandemic restricted rules and regulations such as the shutdown, lockdown, and social distancing norms. This ruling restricted the transportations, workforce, production, and supply. This has disrupted the supply chain of the Global Outage Management System, and it has experienced a huge loss for a certain period. Moreover, the global market has lost its investors and faced a financial loss for the year.
However, the Global Outage Management System Industry market has employed more key players to handle the pandemic. Here, the global key players have adopted new tactics and strategies to thrive the growth of the global market. In the present scenario, the global market has predicted to meet the higher CAGR for the forecast period.
The demand for outage management systems is increasing due to the faster restoration based upon outage location predictions and reduced outage durations. Moreover, the Global Market is driving its growth due to the higher spending on smart grid developments.
In 2020, 36% of total U.S. end-use energy consumption was accounted for from the industrial sector. Here, the demand for the Outage Management System increases due to string regulations of the government. Hence, this initiative increases Global Market Growth for the forecast period.
The Global Market has more growth opportunities for the key players and manufacturers due to the new product launches and increasing investments in the research and development of outrage management systems.
The Global Market has huge applications in the industry, which brings lucrative opportunities for the manufacturers and key players.
Although, the Global Market has more growth factors to enhance its growth, the global market has some market restraints that can hamper the growth of the global market. The increasing complexity outage management system might face market restraints for the forecast period in the global market.
Therefore, more key players are getting engaged in the global market to conduct more research in this restraint field to get a better outcome. This initiative can thrive the Global Market Growth for the assessment period.
The Global Outage Management System Market has more growth opportunities, hampered due to various challenges. The global market might experience challenges due to the increasing complexity of OMS and high maintenance cost.
Moreover, the COVID-19 pandemic is one of the major challenges for the Global Market, which has faced financial loss and disrupted the supply chain.
According to the Global Outage Management System Market, the increasing requirement for advanced network control systems and growing smart grid initiatives in the U.S. are thriving in the regional market of North America. Accordingly, Europe, Asia Pacific, and other regions are showing cumulative growth for the assessment period.
Therefore, the Global Market's key players of various regions contribute extensively to reach all the remote parts of the regions. They are implying new tactics to meet the demand of the intended audiences.
Market Segment Overview
Based on type segment, the Global Market Trends has been classified into Ѕtаndаlоnе ОМЅ and Іntеgrаtеd ОМЅ.
Among these, the integrated OMS segment is predicted to generate the largest Global Market Share for the research period. The demand for integrated solutions increases due to the changing interest in advanced applications likeADMS (Advanced Distribution Management System).
The Global Market has been classified into software and communication systems based on the type segment.
Among these, the communication segment is holding the dominant position in the Global Market.
On the basis of application segment, the Global Market Trends has been classified intoРublісUtіlіtу and РrіvаtеUtіlіtу.
These two application segments contribute to the larger Global Market Size for the forecast period.
Geographically, the Global Outage Management System Market has been segregated into various important regions such as North America, Asia Pacific, Europe, and the rest of the world.
Out of all, the North American regional market holds the dominant position in the global market, contributing the higher Global Market Share for the forecast period. This region is boosting up the growth of the global market due to the faster restoration of power and reducing the crew management costs and outages costs with easy-to-generate historical statistics. Moreover, the European regional market is growing at a significant pace for the forecast period. Along with that, the Asia-pacific regional market is projected to increase the Global Market Share at a high pace because of the increasing investment in the development of the smart grid.
Competitive Landscape Analysis
According to the Global Outage Management System Industry report, the global market grows due to several factors. Among these factors, one of the major factors can be the continuous efforts of the key players to thrive in the global market. These important key players are:
All these market players are adopting strategic alliances, joint ventures, new product developments, mergers and acquisitions, and research and developments to propel the Global Market Growth for the forecast period.
According to the Global Outage Management System Market Trends report, the report has involved primary research methods to collect valuable data or information from the industry experts and important dealers. Moreover, the report combines qualitative and quantitative analysis to measure the performance of the industry and market. This report has covered a detailed comparison of the market for various product types. In addition, the report has explained the regulatory landscape, market segment, macroeconomic indicators, and pricing analysis to understand the performance growth of the global market.
The Global Trends report has also highlighted the geographical analysis, competitive analysis, and recent developments to explain important companies' emerging trends and strategies.
|Market Size||2027: USD 2,195.6 Million|
|CAGR||17.85% CAGR (2020-2027)|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Type, End User|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||ABB Ltd. (Switzerland), General Electric Company (U.S.), Oracle Corporation (U.S.), Schneider Electric SE (France), Siemens AG (Germany), Intergraph Corporation (U.S.), Advanced Control Systems Inc. (U.S.), CGI Group (Canada), Survalent Technology Corporation (Canada) and S&C Electric Company (U.S)|
|Key Market Opportunities||New product launches and R&D Amongst major key Players|
|Key Market Drivers||
Frequently Asked Questions (FAQ) :
The outage management system market can surge at 16.5% CAGR by 2023.
The outage management system can value at a considerably high amount by the end of the evaluation period.
Advanced Control Systems Inc. (U.S.), Survalent Technology Corporation (Canada), CGI Group (Canada), and S&C Electric Company (U.S) are some key players of the outage management system market.
The benefit of outage management system to offer high efficacy to resolve outage can prompt its global market growth.
The growing need for the outage management system in North America can spur the regional market growth.