The Business Research Company’s report on the Outage Management Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
Which emerging drivers are set to accelerate the growth of the outage management market further?
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, in December 2023, according to reports published by the Department for Energy Security and Net Zero, a UK-based government department, in Quarter 3 of 2023, renewable electricity generation reached 30.1 TWh, marking a 6.8% increase from 2022, with the addition of 2.9 GW of new renewable capacity, including a significant rise in solar PV and wind installations, leading to renewables’ share reaching 44.5% of total electricity generation. Therefore, increasing demand for energy consumption due to expanding population and rapid urbanization rate is driving the growth of the outage management market.
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What are the key factors influencing the forecasted market size of the outage management industry?
The outage management market size has grown rapidly in recent years. It will grow from $1.14 billion in 2024 to $1.36 billion in 2025 at a compound annual growth rate (CAGR) of 19.5%. 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 $2.59 billion in 2029 at a compound annual growth rate (CAGR) of 17.4%. 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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Who are the leading competitors in the outage management market?
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
Which emerging trends are set to transform the outage management market landscape?
Network management systems that are used beyond the control room help in restoring services to the customers is gaining popularity in the market. For instance, In June 2024, Duquesne Light Company (DLC), a US-based electric utility company, launched a new Outage Management System (OMS), which includes a more dynamic and informative outage map on the company’s website and mobile app. This critical component of DLC’s continuous efforts to update the electrical grid improves the outage restoration process and offers higher-quality service to consumers. The new technology delivers increased transparency and real-time visibility into outages throughout the company’s service zone, as well as improved outage messaging.
How do different geographies compare in terms of market share and growth potential in the outage management market?
North America was the largest region in the outage management market in 2024 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.
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Which major segments of the outage management market are experiencing the fastest growth?
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
Subsegments:
1) By Software: Outage Management System (OMS), Geographic Information System (GIS), Mobile Workforce Management Software, Customer Engagement Software, Data Analytics And Reporting Tools
2) By Services: Consulting Services, Implementation Services, Training and Support Services, Maintenance And Upgrades, Managed Services
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How is the outage management market defined?
The outage management refer to different computer-related software used by the electric distribution. These are mainly used by the grid and system supervisors to return power to the grid. The outage management system identifies and provides alerts for outages in power grids.
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