Outage Management System Market: Current Analysis and Forecast (2022-2028)
Emphasis on Type (Standalone OMS, Integrated OMS); Component (Software System, Component System); End-User (Private Utility, Public Utility); Region/Country
The global Outage management system Market is expected to grow at a significant rate of around 18% during the forecast period. An outage Management System (OMS) is a computer system and software used by system operators to reduce outage time and help allocate resources for system restoration. Factors that are escalating its market growth are driven by rising global energy demand due to the expanding population and rapid urbanization rate across emerging regions. Additionally, increasing government focus on integrating outage management systems for efficient grid management would substantiate the market revenues. Smart grid technologies are increasingly becoming primitive for utilities to match the rising energy demand and help consumers to enhance their energy management capabilities. Utility technologies such as outage management systems help meet this demand.
Moreover, an outage management system helps to reduce the duration of outages and maintenance, provides an efficient prediction of outages and their location, and also helps in the reduction of the number of complaints registered by end users. In addition, the mounting integration of outage management systems with smart devices is creating opportunities for the outage management system market in the coming years.
ABB Ltd., General Electric Company, Oracle Corporation, Schneider Electric SE, Siemens AG, Intergraph Corporation, Advanced Control Systems Inc., CGI Group, Survalent Technology Corporation and S&C Electric Company.
Insights Presented in the Report
“Amongst type, integrated OMS category to witness robust CAGR during the forecast period”
Based on type, the outage management system market is classified into standalone OMS and integrated OMS. The integrated OMS segment caters substantial share of the market. Integration of the outage management system with advanced metering infrastructure enhances functionality and improves the outage management process. As the advanced metering infrastructure are well equipped it provides an outage management system and an outage notification message from the meter when it loses voltage.
“Amongst component, software system segment to hold a significant share in the market in 2020”
Based on the component, the outage management system market is categorized into a software system and a communication system. The software system segment caters to an extensive share of the market and is expected to grow at an influential rate in the forecasted period as well. It is mainly owing to the increasing advancements in the use of software and internet-of-things that are expected to increase the reliability of the outage management system.
“Asia Pacific to hold a significant share in the market”
Asia Pacific is anticipated to grow at a substantial CAGR during the forecast period. This is mainly attributed to the vast customer network spread over a large area, which requires the need to manage power outages as they happen. An outage management system helps in accessing the information and provides a mechanism that improves consumer handling and satisfaction, thereby maximizing customer retention and increasing the profit for the electricity distributor, thereby increasing the growth of the market.
Reasons to buy this report:
- The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
- The report presents a quick review of overall industry performance at one glance.
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
- The study comprehensively covers the market across different segments.
- Deep dive regional level analysis of the industry.
Customization Options:
The global Outage management system market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.
Table of Contents
Research Methodology for the Outage Management System Market Analysis (2022-2028)
Analyzing the historical market, estimating the current market, and forecasting the future market of the global Outage management system market were the three major steps undertaken to create and analyze the adoption of the outage management system in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global outage management system market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the Outage management system market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the Outage management system market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as type, component, and end-user. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the Outage management system market. Further, we conducted factor analysis using dependent and independent variables such as various type, component, and end-user. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the Outage management system market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global outage management system market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2028 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of revenue (USD) and the adoption rate of the outage management system market across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the global outage management system market in terms of the product offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global outage management system market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of type, component, and end-user in the global outage management system market.
The main objective of the Global Outage management system Market Study
The current & future market trends of the global outage management system market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of the outage management system market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of type, component, and end-user.
- Define and analysis of the regulatory framework for the outage management system
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
- Analyze the current and forecast market size of the outage management system market for the major region.
- Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World.
- Company profiles of the outage management system market and the growth strategies adopted by the market players to sustain in the fast-growing market
- Deep dive regional level analysis of the industry
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