Outage Management Market Outlook 2024: Exclusive Report By The Business Research Company | ASEA Brown Boveri Ltd., General Electric Company, Oracle Corporation, Schneider Electric SA, Siemens AG, Consultants to Government and Industry Incorporated, Advanc

The Business Research Company has updated its global market reports, featuring the latest data for 2024 and projections up to 2599

The Business Research Company offers in-depth market insights through Outage Management Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.

Market Size And Growth Forecast:
The outage management market size has grown exponentially in recent years. It will grow from $0.96 billion in 2023 to $1.16 billion in 2024 at a compound annual growth rate (CAGR) of 20.3%. 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 $2.27 billion in 2028 at a compound annual growth rate (CAGR) of 18.4%. 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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Market Segmentation:
The main types of outage management are software and services. Software OMS is used to restore the network model after an outage. The different types of outage management products are integrated and standalone. These are used by various end-user such as public utility and private utilities. They are also used in different applications such as residential and commercial.

Major Driver - Rising Energy Demand And Population Growth Fueling Outage Management Systems 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 instance, according to the report July 2021 published by International Energy Agency IEA), a France-based autonomous intergovernmental organization for energy, the demand for power worldwide is anticipated to rise by roughly 5% in 2021 and 4% in 2022, whereas fossil fuel-based electricity generation expected to supply 45% of it in 2021 and 40% in 2022. 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.

Competitive Landscape:
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

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Top Trend - Expanded Network Management Systems Enhance Outage Response And Service Restoration
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 May 2021, Oracle corporation one of the American multinational computer technology corporations started using outage management beyond the control room to the desktop devices with the internet access where the storm management employers can efficiently work to respond to staff and dispatch crews from anywhere which will save the time in restoring service to the customers.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Outage Management Market Characteristics
3. Outage Management Market Trends And Strategies
4. Outage Management Market - Macro Economic Scenario
5. Outage Management Market Size And Growth
…..
27. Outage Management Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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