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Outage Management System market Size & Growth Report
The Outage Management Market is growing rapidly due to the adoption of smart grid tech and IoT solutions for better power reliability.
AUSTIN, TX, UNITED STATES, January 30, 2025 /EINPresswire / -- Market Size &
industry Insights
As Per the SNS Insider,“The Outage Management System Market was USD 5.18 Billion in 2023 and is expected to reach USD 10.48 Billion by 2032, growing at a CAGR of 8.15% over the forecast period of 2024-2032.”
Outage Management Market Poised for Growth Driven by Rising Energy Demand and Integration of Advanced Smart Grid Solutions
The recurrence of power outage challenges has increased in both developing and developed regions, raising the necessity to have effective solutions for outage management. The Outage Management Market refers to software, hardware, and services that help utilities manage outages efficiently, automate the discovery of faults, dispatch crew for repairs, and provide real-time updates to customers.
Increasing global electricity consumption and integrating more renewable energy is driving the Outage Management Market forward. Advanced emerging technologies of smart grids and IoT solutions revolutionize outage management by monitoring and analyzing power networks in real time for predictive outcomes. Utilities striving toward reliable, uninterruptible power supplies require outage management solutions in their pursuit of reduced downtimes and corresponding economic losses.
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SWOT Analysis of Key Players as follows:
- ABB
- General Electric
- Oracle
- Schneider Electric
- Siemens
- CGI Inc.
- Advanced Control Systems Inc.
- FUTURA SYSTEMS INC.
- Intergraph Corporation
- Milsoft Utility Solutions.
- Survalent Technology Corporation
- S&C Electric Company
- Open Systems International Inc.
- FirstEnergy Corp.
- Hexagon AB
- Kaihen.
- Westinghouse Electric Company LLC.
- Power System Engineering Inc.
- Ripley Power & Light Company
- SEDC
SEGMENT ANALYSIS
By Type
The Integrated Outage Management System (IOMS) segment led the Outage Management Market in 2023, capturing the largest revenue share. The reason for its dominance lies in its ability to associate outage management functionality with other crucial systems, including distribution management and geographic information systems. Such association brings about additional advantages related to high operational efficiency through real-time situation awareness and streamlining of workflows. IOMS enables faster detection and resolution of outages, thereby reducing unnecessary downtime and improving overall grid reliability. Easy association between all these different systems makes IOMS an essential tool for the modern management of a power grid.
By End-User Industry
The Public Utility segment led the Outage Management Market in 2023 due to its large consumer base and increasing adoption of advanced outage management systems. Utilities are investing in these technologies to ensure a reliable and affordable supply of electricity. Moreover, government initiatives focused on modernizing energy infrastructure and reducing power downtime have further accelerated the adoption of outage management solutions in this sector. This helps improve the reliability of grids, enhances operational efficiency, and minimizes service disruptions, thus making the Public Utility segment the key driver of market growth.
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KEY MARKET SEGMENTS:
By Type
Standalone outage management system
Integrated outage management system.
By Component
Software System
Communication System
By End-User Industry
Private Utility
Public Utility
REGIONAL ANALYSIS
In 2023, North America dominated the Outage Management Systems Market, given that the region has advanced power infrastructure and is emphasizing reducing the cost of outages. The outage management system will contribute the most to the total market share in the North American region, mainly in the United States, owing to its wide adoption of smart grids and investments in modernizing aging power networks.
Strong outage management systems are in high demand due to a strong regulatory framework in North America and an increasing adoption of renewable energy. The presence of key market players and continuous technological advancements is further supporting the region's market dominance.
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RECENT DEVELOPMENTS
-July 2024: Oracle has received a patent for an ML-based system that would be able to detect outages in data centers and issue alerts. This could significantly transform how data centers manage and mitigate downtime, saving millions in operational costs and improving the reliability of service.
-May 2024: Siemens has released LV Management under their Gridscale X offer, which they say will give grid operators further insight and transparency into what is happening on the low-voltage grid.
Table of Content - Major Points Analysis
Chapter 1. Introduction
Chapter 2. Executive Summary
Chapter 3. Research Methodology
Chapter 4. Market Dynamics Impact Analysis
Chapter 5. Statistical Insights and Trends Reporting
Chapter 6. Competitive Landscape
Chapter 7. Outage Management System Market Segmentation, by Type
Chapter 8. Outage Management System Market Segmentation, by Component
Chapter 9. Outage Management System Market Segmentation, by End-User Industry
Chapter 10. Regional Analysis
Chapter 11. Company Profiles
Chapter 12. Use Cases and Best Practices
Chapter 13. Conclusion
Continued...
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Akash Anand
SNS Insider
+1 415-230-0044
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