What Is The Current and Historic Market Size Analysis Of The Outage Management Market?
The outage management market has seen considerable growth due to a variety of factors.
• In the past few years, there has been a fast-paced expansion in the size of the outage management market. Projections show a growth from $1.14 billion in 2024 to $1.36 billion in 2025, representing a compound annual growth rate (CAGR) of 19.5%.
Various factors including aging infrastructure, reliability of the grid, severe climatic conditions, regulatory compliance, and asset management have contributed to this growth during the historic period.
What Are The Predictions for The Outage Management Market Size In The Coming Years?
The outage management market is expected to maintain its strong growth trajectory in upcoming years.
• The market size for outage management is projected to witness a significant increase in the upcoming years, reaching a value of $2.59 billion in 2029 with a compound annual growth rate (CAGR) of 17.4%.
This projected trajectory during the forecast period is influenced by factors such as distributed energy resources, electrification efforts, public-private partnerships, cybersecurity, and customer expectations. Other key trends to watch during the forecast period include data and analytics, grid modernization, microgrids, remote monitoring, and mobile applications.
Which Key Drivers Are Propelling The Outage Management Market's Growth?
The surge in energy consumption fueled by mounting population and rapid urbanization is propelling the market's upward trajectory. With such expansion comes the requirement for adequate electricity administration and distribution to prevent any harmful hazards or accidents. For example, in December 2023, the Department for Energy Security and Net Zero, a UK government department, issued reports stating that renewable electricity production hit 30.1 TWh in the third quarter of 2023. This marks an increase of 6.8% from 2022, with the addition of 2.9 GW of fresh renewable capacity, which included a substantial increase in solar PV and wind installations, leading to renewables accounting for 44.5% of total electricity generation. As such, the swelling demand for energy consumption due to burgeoning population and brisk urbanization pace is steering the development of the outage management market.
What Are The Key Segments Within The Global Outage Management Market?
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 Are New Trends Impacting The Size Of The Outage Management Market?
The use of network management systems beyond control rooms, aimed at restoring services to clients, is becoming increasingly common in the market. An illustrative example is the American electric utility company, Duquesne Light Company (DLC), which in June 2024 launched a novel Outage Management System (OMS). The OMS, a foundational part of DLC's ongoing grid modernization efforts, incorporates a more dynamic and informative outage map accessible via the company's website and mobile app. This latest technology greatly enhances the outage restoration protocol while guaranteeing superior service to customers. The system provides enhanced transparency, real-time insights into service disruptions across the firm's service area, and improved outage communications.
Who Are the Key Players 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
What are the Regional Insights into 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.
