Dublin, Nov. 30, 2020 (GLOBE NEWSWIRE) -- The "Outage Management Systems Market - Growth, Trends, and Forecasts (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.
The outage management systems market is expected to rise at a CAGR of more than 1.5% during the forecast period of 2020-2025
Factors such as focus on electricity transmission optimization, demand for reliable and uninterrupted power supply, and an increase in energy demand are expected to drive the outage management systems market. However, the lack of timely, dependable, and irregularities in the outage -reporting may restrain the growth of the market.
The public utility sector is expected to be the largest segment in the forecast period. The segment applies the largest number of outage management systems to increase their electricity delivery efficiency and increase the reliability of the network. An increase in the installed power generation capacity around the globe in the public utility sector is expected to aid the growth of outage management systems.
Increasing advancements in the use of software and internet-of-things are expected to increase the reliability of the outage management system. They may act as an opportunity for the market players.
The Asia-Pacific region is expected to be the largest market in the forecast period due to its large public utility sector and increasing demand for energy. China and India are expected to be the largest users of the outage Management Systems in the region.
Key Market Trends
Public Utility Segment to Dominate the Market
Outage management systems or OMS are a variety of computer-aided methods that are used by electrical distribution systems. They are primarily used by the grid and distributed system supervisors to return power to the network. Outage management systems identify outage s and provide instant alerts. They also record the history of interruptions throughout the operations and provide real-time insight into the systems. The use of the outage management system provides for capabilities, especially for the public utility system, as their networks are usually older and much more complex.
- The public utility segment is investing heavily in the creation of a more structured smart grid all over the world. The outage management system is a part of the smart grid initiative and provides reliable information about the outage s and their management to the company. The investment in the creation of better grids is expected to provide growth to the outage management system.
- Primary energy consumption in the world increased by 1.3% to 583.9 exajoules, in 2019 from 576.23 exajoules, in 2018. The energy consumption is expected to increase further in the forecast period and may drive the utility sector in the outage management systems market.
- In 2019, Utilities Kingston has implemented a new outage management system (OMS) to help further improve addressing and communicating power outage s. The Survalent-ONE outage management system (OMS) pinpoints both planned and unplanned power outage s, providing accurate and timely information, both for the public and for crews as they work to restore power. The market has many different types of outage management systems, and advancements are expected to be made in the system in the forecast period.
- Hence, the Public Utility segment is expected to dominate the market in the forecast period due to the increase in energy consumption and advancements being made in the equipment.
Asia Pacific Region is expected to Dominate the Market
The Asia-Pacific region consists of the largest installed capacity generation of energy in the world. Optimization of the large grid requires the usage of solutions like the outage management system, which is expected is expected to provide for the use and growth of the market.
- The Asia-Pacific region is the largest user of renewable energy in the world. Renewable energy sources such as solar and wind have issues with reliability, which may be managed better with the use of the outage management systems, thereby facilitating the growth of the sector.
- The Asia-Pacific utility companies usually have a vast customer network spread on a large area, which requires the need to manage the power outage s as they happen. Access to the information provides a mechanism that improves consumer handling and satisfaction, thereby maximizing customer retention and increase the profit for the electricity distributor, thereby increasing the growth of the market.
- Primary energy consumption in the Asia-Pacific region increased by 3.3% to 257.56 exajoules, in 2019 from 249.35 exajoules, in 2018. The energy consumption is expected to increase further in the forecast period and may drive the outage management systems market.
- Hence, Asia-Pacific is expected to dominate the outage management systems market due to the increase in the investments in systems related to the smart grid and rising primary energy consumption in the region.
Competitive Landscape
The outage management systems market is partially fragmented. Some of the key players in this market include ABB Ltd., General Electric Company, Schneider Electric SA, Siemens AG, and Oracle Corporation.
Key Topics Covered:
1 INTRODUCTION
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET OVERVIEW
4.1 Introduction
4.2 Market Size and Demand Forecast in USD Billion, till 2025
4.3 Recent Trends and Developments
4.4 Government Policies and Regulations
4.5 Market Dynamics
4.5.1 Drivers
4.5.2 Restraints
4.6 Supply Chain Analysis
4.7 Porter's Five Forces Analysis
5 MARKET SEGMENTATION
5.1 Type
5.1.1 Standalone
5.1.2 Integrated
5.2 End-User
5.2.1 Public Utility
5.2.2 Private Utility
5.3 Geography
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Strategies Adopted by Leading Players
6.3 Company Profiles
6.3.1 ABB Ltd.
6.3.2 General Electric Company
6.3.3 Oracle Corporation
6.3.4 Schneider Electric SA
6.3.5 Siemens AG
6.3.6 CGI Inc
6.3.7 Advanced Control Systems Inc
6.3.8 Futura Systems Inc
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
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