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Rising Energy Demand And Population Growth Fueling Outage Management Systems Market Emerges as a Core Driver of the Outage Management Market in 2025
Outage Management Market
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What Is the Expected CAGR for the Outage Management Market Through 2025?_x000D_
There has been a swift expansion in the size of the outage management market over the past few years. This market is set to escalate from $1.14 billion in 2024 to $1.36 billion in 2025, with a compound annual growth rate (CAGR) of 19.5%. Elements contributing to this growth during the historic period include maturing infrastructure, reliability of the grid, extreme weather conditions, adherence to regulations, and asset management._x000D_
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What's the Projected Size of the Global Outage Management Market by 2029?_x000D_
In the forthcoming years, the market size for outage management is predicted to witness a swift expansion. The figure will raise to $2.59 billion in 2029, with a Compound Annual Growth Rate (CAGR) of 17.4%. Factors such as distributed energy resources, electrification programs, public-private collaborations, cybersecurity, and consumer anticipations are considered to drive growth in the forecasted duration. In the corresponding duration, the dominant trends would encompass data and analytics, grid modernization, microgrids, remote surveillance, and mobile applications._x000D_
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Top Growth Drivers in the Outage Management Industry: What's Accelerating the Market?_x000D_
The upsurge in energy consumption due to the growing population and swift rate of urbanization is propelling the market's advancement. This progression necessitates efficient control and allocation of electricity to prevent potential risky incidents or mishaps. For instance, in December 2023, as stated in the accounts published by the Department for Energy Security and Net Zero, a UK government entity, renewable electricity production in the third quarter of 2023 arrived at 30.1 TWh, signifying a 6.8% elevation from 2022. The year saw the inclusion of 2.9 GW of fresh renewable capacity, comprising notable amplification in solar PV and wind installations. The contribution of these renewables resulted in them representing 44.5% of the total electricity production. Hence, the escalating demand for energy consumption ascribed to the burgeoning population and rapid pace of urbanization is fueling the expansion of the outage management market._x000D_
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What Trends Will Shape the Outage Management Market Through 2029 and Beyond?_x000D_
The application of network management systems beyond control rooms for service restoration is increasingly being embraced within the market. To illustrate, the Duquesne Light Company (DLC), an electric utility from the United States, debuted their innovative Outage Management System (OMS) in June 2024. This new system, a crucial part of DLC's ongoing mission to modernize the electric grid, features an enhanced, informative outage map on the company's website and mobile applications. It aims to streamline outage restoration and provide a superior level of service to customers. Moreover, this novel tech product offers heightened transparency and real-time monitoring of outages across the company's entire range of service, complimented by improved outage communication._x000D_
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What Are the Main Segments in the Outage Management Market?_x000D_
The outage management market covered in this report is segmented -_x000D_
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1) By Type: Software, Services_x000D_
2) By Product: Integrated, Standalone_x000D_
3) By End User: Public Utility, Private Utility_x000D_
4) By Application: Residential, Commercial_x000D_
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Subsegments:_x000D_
1) By Software: Outage Management System (OMS), Geographic Information System (GIS), Mobile Workforce Management Software, Customer Engagement Software, Data Analytics And Reporting Tools_x000D_
2) By Services: Consulting Services, Implementation Services, Training and Support Services, Maintenance And Upgrades, Managed Services_x000D_
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Which Top Companies are Driving Growth in the Outage Management Market?_x000D_
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_x000D_
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Which Regions Will Dominate the Outage Management Market Through 2029?_x000D_
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._x000D_
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2. Manufacturers & Suppliers - To understand market trends, customer demand, and competitive positioning._x000D_
3. Policy Makers & Regulators - To track industry developments and align regulatory frameworks._x000D_
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