The global outage management market size is expected to grow from $0.65 billion in 2021 to $0.78 billion in 2022 at a compound annual growth rate (CAGR) of 19.0%. The global outage management market size is expected to grow to $1.58 billion in 2026 at a CAGR of 19.3%.
What is the Global Outage Management Market?
The outage management market consists of sales of outage management systems (OMS) services by entities (organizations, sole traders, and partnerships) that 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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What drives the Global Outage Management Market?
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 example, primary energy consumption in the world increased by 1.3% to 583.9 exajoules, in 2019 from 576.23 exajoules, in 2018. The 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.
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Global Outage Management Market Segments
The global outage management market is segmented:
By Type: Software, Services
By Product: Integrated, Standalone
By End-User: Public Utility, Private Utility
By Application: Residential, Commercial
By Geography: The regions covered in the outage management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Outage Management Global Market Report 2022provides market size and growth forecasts for the global outage management market, global outage management market share, outage management market segments and geographies, outage management market competitive landscape including leading competitors’ revenues, profiles and market shares. The outage management market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Global Outage Management Industry Playersinclude ABB Ltd., General Electric Company, Oracle Corporation, Schneider Electric SA, Siemens AG, CGI Inc, Advanced Control Systems Inc, Intergraph Corporation, Futura Systems Inc, Survalent Technology Corporation, Milsoft utility solutions, and S&C Power Company. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.
