Outage Management Market Forecast 2024-2033 - Major Trends, Segments And Fastest Growing Regions

"The Business Research Company recently released a comprehensive report on the Global Outage Management Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

Ready to Dive into Something Exciting? Get Your Free Exclusive Sample of Our Research Report @
https://www.thebusinessresearchcompany.com/sample.aspx?id=6104&type=smp

According to The Business Research Company's, 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.

Get The Complete Scope Of The Report @
https://www.thebusinessresearchcompany.com/report/outage-management-global-market-report

Market Drivers and Trends:

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.

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.

Key Benefits for Stakeholders:

• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.

Major Key Players of the Market:

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

Outage Management Market 2024 Key Insights:

• 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%.
• Rising Energy Demand And Population Growth Fueling Outage Management Systems Market
• Expanded Network Management Systems Enhance Outage Response And Service Restoration
• North America was the largest region in the outage management market in 2023 and is expected to be the fastest-growing region in the forecast period

We Offer Customized Report, Click @
https://www.thebusinessresearchcompany.com/Customise?id=6104&type=smp

Contact Us:

The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info

Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ "

Learn More About The Business Research Company

The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.

This release was published on openPR.