A research study states that the global outage management system market has the ability to witness a compound annual growth rate (CAGR) of +27% between 2018 and 2025.
The market is projected to grow by 24.5% through to 2025 to each $5,243.2 million in revenue generation.
Increasing grid reliability and government initiatives toward smart grid deployments in North America and Asia-Pacific are expected to drive the outage management system market.
On the other hand, lack of inter-operable capability with other advanced control systems such as GIS, supervisory control and data acquisition (SCADA), and IVR is likely to hinder market growth.
Research largely focuses on the present business size of the Worldwide Outage Management System market and its advancement proportion is based on the last five year’s data, looking at organisation profile, driving players and producers.
The major regions which add to the advancement of the market include; North and South America, Europe, Africa, the Center East, and Asia.
The outage management systems market is fragmented and includes many prominent vendors, as well as new players entering the market.
As these systems require integration with other grid systems, users prefer to use service providers who are offering a complete solution, to avoid inter-operability pitfalls.
This will be beneficial to large vendors such as Siemens, General Electric, Schneider Electric, and Open Systems International that are currently the leading vendors. They have large, scalable portfolios of grid-related products, ensuring the market remains competitive.
Outage management systems are used in the power distribution sector. These systems track, group and display outages to safely and efficiently manage service restoration activities.
The systems models network topology for safe, efficient field operations related to outage restoration, as well as integrate with call centers to provide timely, accurate, customer-specific outage information, as well as SCADA systems for real-time-confirmed switching and breaker operations.
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