About Outage Management Systems
Outage management systems (OMS) are a variety of computer-aided systems used by electrical distribution systems. These systems are primarily used by the grid and distributed system supervisors to return power to the grid. These systems identify outages and provide instant alerts. Moreover, they also record the history of outages throughout the operations and provide real-time insight into the systems. The need for efficient networking of distributed systems is driving the market demand.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 18.4% |
The leading companies in outage management systems have advantages such as better performance, better technical and impeccable after-sales service. Consequently, they take the majority of the market share of the high-end market. As competition intensifies, prices gap between different brands will go narrowing. The key players rely on strategies such as mergers & acquisitions, product development, geographical expansion, technological innovation, and sourcing strategies to enhance their market share. Analyst at AMA Research estimates that United States Manufacturers will contribute the maximum growth to Global Outage Management Systems market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
ABB Ltd. (Switzerland), General Electric Company (United States), Oracle Corporation (United States), Schneider Electric SE (France), Siemens AG (Germany), CGI Group, Inc. (Canada), Advanced Control Systems, Inc. (United States), Futura Systems, Inc. (United States), Intergraph Corporation (United States), Milsoft Utility Solutions, Inc. (United States) and Survalent Technology(Canada) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are Phoenix Energy Group (United States) and Telvent GIT, S.A (Spain).
Segmentation Overview
AMA Research has segmented the market of Global Outage Management Systems market by Type (Integrated and Standalone), Application (Geographic Information System Display and Operations/Customer Service) and Region.
On the basis of geography, the market of Outage Management Systems has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by End Users, the sub-segment i.e. Private Utility will boost the Outage Management Systems market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Component , the sub-segment i.e. Software System will boost the Outage Management Systems market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Adoption of Advanced Distribution Management System (ADMS)
Market Growth Drivers:
Higher Cost of Outages, Rising Demand for Grid Reliability and Increasing adoption of energy management systems
Challenges:
Low Adoption of Smart Technologies
Restraints:
Lack of Financial Incentives
Opportunities:
Smart Grid Investment, Integration of Outage Management Systems with Smart Devices and Rising Regulatory Scrutiny and Stringent Compliance Norms
Market Leaders and their expansionary development strategies
In September 2023, Eaton, a power management company, partnered with GridBeyond, a provider of AI-powered energy management solutions. The partnership aims to combine Eaton's OMS with GridBeyond's AI platform to offer advanced grid management and outage prediction capabilities.
In June 2023, GridKey, a provider of cloud-based OMS solutions, partnered with Siemens to offer integrated grid management solutions. This partnership combines GridKey's OMS with Siemens' grid automation technology to provide utilities with a comprehensive platform for managing outages and improving grid reliability.
Key Target Audience
New Entrants/Investors, Analysts and Strategic Business Planners, Outage Management Systems Providers, Power Associations, Venture Capitalists and Private Equity Firms and Government Regulatory and Research Organizations
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.