Outage management system is primarily based on the
idea of a computer-controlled system that would help operators in managing
electric distribution systems to restoration of power. This efficiency in the
operational technology, along with the ability to provide historical data, is
giving the outage
management system market size to reach at a CAGR of 16.5% During the
forecast period (2018-2023). Market Research Future’s (MRFR’s) report on the
outage management system market is claiming a smooth ride for the market in the
coming years.
Various factors are expected to pave the outage
management system market, such as its growing incorporation to support
industrial growth, inclusion of smart grids in the technology, digitalization
of the system, better expenditure capacity, and laudable infrastructure, along
with technological rise are reasons that can be considered as significant
boosters for the outage management system market. Rapid urbanization and rising
grid consistency can also impact the global outage management system market
growth in a positive way.
Segmentation:
MRFR’s report on the outage management system market
relies heavily on a segmentation based on type and end-user. Such segmentations
allow a closer peek at the outage management system market and helps in the
understanding of how the market is about to form in the coming years.
Based on the type, the outage management system
market includes integrated OMS and standalone OMS. The integrated OMS system is
expected to gain substantial weightage during the forecast period. Advanced
technologies are expected to simplify the inclusion process of this integrated
OMS system in the related industries.
Based on the end-user, the outage management system
market incorporates public utilities and private utilities. The public utility
segment is expected to gain substantially as high living standards are
demanding for better integration of OMS market.
Regional Market:
North America, Europe, Asia Pacific (APAC), and Rest
of the World (RoW) are four distinct regions that have been included in the
region-specific analysis of the outage management system market. This type of
segmentation is expected to provide substantial information regarding growth
pockets and opportunities they have on offer for better growth plans.
North America is leading the market as its
infrastructure is much superior than others and it is this infrastructure that
provides easy access to the inclusion of outage management system market.
Various factors like high investment capacity from both private and public
investors, and on the machine’s part- ability to curb cost, easy-to-generate historical
statistics, quick restoration power, and crew management capacities are
features that can impact the regional growth.
Europe is following the same line of growth with
similar features. Its research and development capacities are quite substantial
where a lot of fund is getting disbursed in hope to get better products. The
APAC region is having substantial lead in the market. Its pace is quite
extraordinary and it is gaining tailwind from countries with emerging
economies. These countries are revamping their industries, which is providing
traction for the regional outage management system market.
Competitive Landscape:
Several companies in the outage management system
market are gaining substantially from their own strategic decisions that
primarily, solidifies their market position and improves the holistic growth of
the market. These companies are General Electric Company (U.S.), ABB Ltd.
(Switzerland), Schneider Electric SE (France), Oracle Corporation (U.S.),
Intergraph Corporation (U.S.), Siemens AG (Germany), Survalent Technology
Corporation (Canada), CGI Group (Canada), Advanced Control Systems Inc. (U.S.),
and S&C Electric Company (U.S). MRFR listed these companies and profiled
them in the discussion to understand various trends going on in the market.
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