Market Size –
The outage management market size has grown exponentially in recent years. It will grow from $0.96 billion in 2023 to $1.16 billion in 2024 at a compound annual growth rate (CAGR) of 20.3%. The growth in the historic period can be attributed to aging infrastructure, grid reliability, severe weather events, regulatory compliance, asset management.
The outage management market size is expected to see rapid growth in the next few years. It will grow to $2.27 billion in 2028 at a compound annual growth rate (CAGR) of 18.4%. The growth in the forecast period can be attributed to distributed energy resources, electrification initiatives, public-private partnerships, cybersecurity, customer expectations. Major trends in the forecast period include data and analytics, grid modernization, microgrids, remote monitoring, mobile applications.
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Scope Of Outage Management Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Outage Management Market Overview
Market Drivers –
Increasing demand for energy consumption due to expanding population and rapid urbanization rate is driving the growth of the market. With such expansion, there is a need for proper management and distribution of electricity to avoid any kind of harmful hazards or accidents. For instance, according to the report July 2021 published by International Energy Agency IEA), a France-based autonomous intergovernmental organization for energy, the demand for power worldwide is anticipated to rise by roughly 5% in 2021 and 4% in 2022, whereas fossil fuel-based electricity generation expected to supply 45% of it in 2021 and 40% in 2022. Energy consumption is expected to increase further in the forecast period and may drive the utility sector in the outage management systems market due to the rise in population.
The outage management market covered in this report is segmented –
1) By Type: Software, Services
2) By Product: Integrated, Standalone
3) By End User: Public Utility, Private Utility
4) By Application: Residential, Commercial
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Regional Insights –
North America was the largest region in the outage management market in 2023 and is expected to be the fastest-growing region in the forecast period. The regions covered in the outage management market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Key Companies –
Major companies operating in the outage management market include ASEA Brown Boveri Ltd., General Electric Company, Oracle Corporation, Schneider Electric SA, Siemens AG, Consultants to Government and Industry Incorporated, Advanced Control Systems Inc, Intergraph Corporation, Futura Systems Inc., Survalent Technology Corporation, Milsoft Utility Solutions, S&C Power Company, Westinghouse Electric Company, Utilities Kingston, Gainesville Regional Utilities, Itron Inc., Eaton Corporation, Landis+Gyr., Enghouse Systems, Det Norske Veritas GL, Hexagon Safety & Infrastructure, DataVoice International Inc., AutoGrid, SmartGridCIS, Clevest Solutions Inc., Sentient Energy Inc., Beckwith Electric Co. Inc., Aclara Technologies, Thales Group
Table of Contents
1. Executive Summary
2. Outage Management Market Report Structure
3. Outage Management Market Trends And Strategies
4. Outage Management Market – Macro Economic Scenario
5. Outage Management Market Size And Growth
…..
27. Outage Management Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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