USD 4.72 Billion
Outage Management System Market Size, Share, Growth Analysis, By Application(Public Utilities and Private Utilities), By Type(Standalone OMS and Integrated OMS), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG45A2273 |
Region:
Global |
Published Date: April, 2024
Pages:
199
|Tables:
59
|Figures:
70
Outage Management System Market Insights
Global Outage Management System Market size was valued at USD 4.72 Billion in 2022 and is poised to grow from USD 5.11 Billion in 2023 to USD 10.47 Billion by 2031, growing at a CAGR of 8.3% in the forecast period (2024-2031).
The need for productive systems to manage power distribution, grid managers to detect failures, issue alerts, and restore power is increasing with increased demand for power generation provide consistent and reliable. Outage management system capabilities integrated interactive voice feedback feature features allows improved connection to customer.
The limited use of power energy requires the storage and regeneration of electricity. Increased concerns about overconsumption are forcing distribution operators to rely on blackout monitoring systems. Thus, the size of the market increases due to increased capacity consumption concerns. Furthermore, the reliability of outage monitoring systems is expected to increase as software and the Internet of Things (IoT) continue to evolve, offering profitable opportunities for businesses.
The increasing demand for continuous and reliable power supply calls for an efficient system to monitor and control power distribution throughout the region. Outage management system is a complete solution if power distribution and grid monitors use it to detect power outages, issue warnings, and restore powers are readily available. Thus, to meet the growing demands of customers, utilities are increasingly adopting Occupational Monitoring Systems (OMS). Utilities face concerns about excessive power consumption. Limited resources further heighten the need for energy protection and restoration. Growing concerns about overconsumption are forcing power distribution operators to implement OMS solutions. Thus, growing concern about electricity consumption could boost the growth of the market.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Standalone OMS
Fastest Growth
Integrated OMS
Growth Rate
8.3% CAGR
Global Outage Management System Market ($ Bn)
Country Share for Asia Pacific Region (%)
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Outage Management System Market Segmental Analysis
The outage management system market segmentation, based on application, includes public utilities and private utilities. The market segmentation, based on type, includes standalone OMS and integrated OMS. By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World.
Analysis by Application
The public sector is expected to be the largest segment during the forecast period. The division uses an excellent number of outage management systems to increase their power supply efficiency and network reliability. Increase in installed electricity worldwide in the public sector is expected to contribute to the development of outage monitoring systems. Increasing developments in software and Internet of Things are expected to increase the reliability of the outage monitoring system. Outage management systems or OMS are a variety of computer-aided systems used by electricity distribution systems. They are basically grid and distributed system monitors and are used to return electricity to the grid. Interrupt monitoring systems will indicate the extent of interruptions and issue warnings immediately. They also record a history of disruptions throughout operations and provide real-time insights into policies. Transit monitoring systems provide opportunities, especially for public systems, as their communication infrastructure is often outdated and highly complex.
The public sector is investing heavily in a well-structured smart grid around the world. The outage management system is part of the smart grid system and provides the company with reliable information about outages and their management. Investment in better network infrastructure is expected to improve the outage monitoring system.
The private sector is a key contributor to the global outage management system market as it invests in and adopts intermittent management systems to increase its operational efficiency and deliver better services to customers. These agencies recognize the importance of technology in outage detection, response, and resolution, enabling the allocation of resources for OMS implementation. Private agencies often require tailored solutions to meet their specific business needs. They play a role in influencing OMS providers to customize and integrate systems according to their specific needs. Interoperability with other applications, such as geographic information systems (GIS), customer information systems (CIS), and distribution systems (DMS), is a key focus for private enterprises to provide grid management all have been weakened.
Analysis by Type
The standalone segment is dominating the market dedicated to outage management systems that focus primarily on outage extraction, analysis, and response. It is designed to handle specific end-to-end applications without extensive integration with other utility systems. Standalone OMS solutions are often quick to deploy because they do not require extensive integration with existing utility infrastructure. This can be useful for utilities looking to accelerate deployment and can immediately improve operational efficiency. For business users with limited budgets or specific downtime needs, a stand-alone OMS can be a cost-effective solution. They can choose and invest in the things that are most relevant to their role.
The integrated segment is designed to seamlessly integrate with other application systems, such as geographic information systems (GIS), distribution systems (DMS), customer information systems (CIS), and SCADA.
An integrated OMS uses data from multiple sources, providing a comprehensive view of the utility’s performance. This allows utilities to analyze data from multiple systems and make informed decisions, resulting in better downtime predictions and response strategies. Integration with other control systems streamlines operations and improves overall business efficiency. Data from multiple systems can be linked and analyzed in real time, facilitating more coordinated and effective downtime responses.
Global Outage Management System Market By Type (%)
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Outage Management System Market Regional Insights
Robust economic growth in emerging Asian countries such as China and India are likely to increase investment in smart infrastructure projects. For example, the Indian government allocated $44.9 billion (about $140 per person in the US) entered smart grid infrastructure projects. Thus, government policies to support smart services could stimulate market growth across the region. Urbanization and rapid technological progress further stimulate the demand for OMS. Huge demand for advanced distribution systems will drive the market across Asia-Pacific.
North America is expected to hold the largest market share owing to the growing need for power restoration. Increasing adoption of energy infrastructure is a key factor driving the market across North America. The huge investment by the United States utility industry to improve the performance of the utilities is positively impacting the growth of the market. According to the Smart Grid System Report by the US. According to the Department of Energy announced in January 2019, the United States utilities have invested $144 billion to develop electricity generation, transmission and distribution systems. This growth is due to infrastructure large ones throughout the region again Increasing demand for analytics tools across the consumer sector will drive the market growth. Significant growth in the smart infrastructure sector will increase the demand for OMS across North America. The industry is leading the adoption of technologically advanced solutions, further accelerating OMS adoption. Growing smart grid technology and advanced metering technology is likely to fuel market growth.
Global Outage Management System Market By Geography
- Largest
- Fastest
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Outage Management System Market Dynamics
Drivers
Growing Demand for Outage Monitoring Systems Driving Market Growth
- The growth of the global outage management system market is driven by the increasing demand for outage monitoring systems. Outage management systems are widely used in power distribution systems to help restore power. An outage monitoring system helps to generate valuable historical data and effectively identify and repair business outages. An interrupt monitoring system improves operational efficiency and communication and greatly increases the speed of problem analysis. This allows managers to make better and faster decisions and reduces the shipment complexity that occurs when there are too many intercepts.
Increasing Adoption of Utility Monitoring Systems
- The increasing cost of smart grid development is increasing the adoption of utility monitoring systems. Adding outage management systems to modern metering infrastructure improves smart grid performance. OMS reduces the duration of power outages and allocates resources necessary for rapid power restoration. Integrating OMS with GIS (Geographic Information System) has improved spatial operations to accurately monitor power outages. Advanced communication systems and informative dashboards help power distribution managers gain valuable insights from data. These contribute to faster and more accurate decision making. Integration of the OMS with the supervisory control and data acquisition (SCADA) system allows full automation of all OMS operations.
Restraints
High Initial Savings
- Implementing a comprehensive system for controlling intermittent often requires a significant upfront investment. Many utilities, especially smaller ones with limited budgets, may find it difficult to allocate funds to implement a complete OMS solution.
Data Quality and Availability Issue
- The efficiency of intersection monitoring systems depends on the quality and availability of available data. Inaccurate or incomplete data, as well as real-time information delays, can prevent the system from detecting and reacting to damage quickly and accurately. Integrating OMS with existing infrastructure including geographic information systems (GIS), distribution systems (DMS), and consumer information systems (CIS) can be complex and time-consuming. Meeting Proceedings of cases a compatibility and the need for customized solutions create challenges, especially for infrastructure and legacy systems.
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Outage Management System Market Competitive Landscape
The competitive environment of the Global Outage Management System Market is dynamic and characterized by the presence of a mix of well-established brands, emerging players, and niche producers. The competitive environment in the global outage management system (OMS) market is characterized by several key players vying to offer innovative solutions and services to utility companies across the globe. These companies engage in various strategies such as mergers and acquisitions, partnerships, product launches, investments in research and development to gain a competitive advantage and expand their market share.
Top Player’s Company Profiles
- ABB Ltd.
- Utilities Kingston
- Gainesville Regional Utilities
- Oracle Corporation
- Westinghouse Electric Company
- General Electric Company
- Siemens AG
- CGI Group
- Advanced Control Systems Inc.
- Intergraph Corporation
- S&C Electric Company
- Hitachi Energy Ltd.
- General Electric Company
- Siemens AG
- Schneider Electric SE
Recent Developments
- In March 2023, Probus Smart Things Private Limited, an IoT Communications & Data Analytics company, raised $3 million from a US-based family business. and Unicorn India Ventures. The company develops solutions for interruption monitoring, energy consumption and performance management. Existing investors also participated in the round. By developing integrated hardware and software solutions, Probus helps utility providers digitize distribution networks and achieve complete network visibility. Power distribution utilities can leverage distribution network analytics to robust IOT solutions.
- In March 2021, ABB Ltd announced its new ABB Ability Outage Management System 2.0. This system uses AI and ML to provide outage detection and restoration.
- Owensboro Municipal Utilities announced in June 2023 that it will implement a text message system to notify customers of outages and help them respond quickly to outages by sending SMS notifications about electricity the surrounding energy will send it. The suspension monitoring system will immediately forward the report to the actual employees immediately for review.
Outage Management System Key Market Trends
- Increasing investment in Smart Grid Development: Increasing investment in smart grid development positively impacts the adoption of outage management system. Combining outage management systems with advanced meter infrastructure improves smart grid performance. An outage monitoring system reduces the duration of power outages and allocates resources necessary for rapid power restoration. The integration of OMS with geographic information systems (GIS) improved location performance in tracking power outages faster and more accurately. In addition to this, a comprehensive interface and informative dashboards help power distribution managers gain valuable data insights.
- Adoption of SCADA Framework for Strategic Decision-making: SCADA systems have built-in redundancy features and backup systems to provide reliability and these systems are more accurate and faster than manual process. SCADA systems store data and provide automatic control, which is useful for utilities. Alarms detect a problem in the system and fix the problem, preventing it from cutting. This real-time view in action can help prevent minor problems from becoming major ones, optimize power distribution systems for efficiency and restore speed. In the event of an outage due to an event such as a hurricane, the advanced data capabilities of the SCADA system help field operators pinpoint the exact location of a work stoppage.
Outage Management System Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
Smart grid technology combined with the proliferation of IoT devices is driving the adoption of OMS solutions. This system uses real-time data and analytics to increase situational awareness, optimize resource allocation, and simplify predictive maintenance, improving overall network efficiency and performance. However, the market faces several constraints, including high initial investment costs associated with implementing OMS solutions and the difficulty of integrating these systems into consumer products. Besides, concerns about data privacy and cybersecurity pose challenges in terms of widespread adoption. A major trend shaping the market is increased focus on grid modernization and resilience. Companies are investing in advanced OMS solutions equipped with predictive analytics, artificial intelligence and machine learning capabilities to proactively identify and mitigate potential outages. Furthermore, there is a strong emphasis on performance and standardization to enable seamless communication and cooperation between utility systems and stakeholders.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 4.72 Billion |
| Market size value in 2031 | USD 10.47 Billion |
| Growth Rate | 8.3% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Outage Management System Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Outage Management System Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Outage Management System Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Outage Management System Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Outage Management System Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Outage Management System Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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