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

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.