"Smart Strategies, Giving Speed to your Growth Trajectory"

Outage Management System (OMS) Market Size, Share & Industry Analysis, By Component (Software Solution [Stand-alone, Integrated] Services), By End User (Public Utilities, Private Utilities) And Regional Forecast 2020-2027

Region : Global | Report ID: FBI104804 | Status : Ongoing

 

KEY MARKET INSIGHTS

The rising demand for a continuous and reliable electricity supply creates a need for an efficient system to monitor and manage the power distribution throughout the region. The outage management system is the complete suite of solutions used by the power distribution and grid supervisors to identify outages, provide an alert, and restore the power. Integrating interactive voice response capabilities in OMS facilitates automated and enhanced client communication to drive customer’s satisfaction. Thus, utility companies are excessively adopting an outage management system (OMS) to satisfy customers' increasing demands. Today, the utility industry is confronting concerns regarding excessive electricity consumption. Limited power generation resources further create the need to save and restore the power. Growing concerns related to excessive power utilization enforces power distribution operators to deploy the OMS solution. Thus, increasing power utilization concerns are likely to drive the OMS market growth.


Increasing spending on smart grid development positively impacts the outage management system adoption. The integration of outage management systems with advanced metering infrastructure enhances the smart grid’s functionality. Thus, growing smart grids deployments is another crucial factor for driving the global market growth. Outage management systems reduce outage time and allocate necessary resources for faster restoration of power. The integration of OMS with geographic information system (GIS) has improved location functionality to fast and accurate tracking of a power outage. Apart from this, the widespread communication infrastructure and informative dashboards are assisting power distribution supervisors to attain valuable data insights. These insights are further helpful in fast and accurate decision making. Thus, the OMS is gaining much popularity across the utility industry due to its numerous benefits and enhanced functionalities. The integration of OMS with the supervisory control and data acquisition (SCADA) system offers the complete automation of overall OMS operations. Thus, the integration of OMS with the SCADA system is likely to drive the market growth during the forecast period. 


Key Market Driver -

• Growing popularity of smart grids and smart meters is driving the market growth • Integration of OMS with the SCADA system to boost the demand for solution.

Key Market Restraint -

• Complex infrastructure and data management challenges are hindring the market growth


Key Players Covered:


The highly competitive outage management system landscape entices key players in the global market to adopt various business strategies to sustain their competence. Key players are increasingly focusing on the development and expansion of their existing offerings. By keeping utility and distributor operators' needs in mind, prominent vendors advances their existing OMS platforms. The integration of the OMS platform with other advanced systems helps key players in facilitating the next level of automation and reliability to outage management operation. Strategic partnerships and collaborations with the power distribution and smart grids assist companies to expand their customer base.    


Key companies summarised includes ABB Ltd., General Electric Company, Oracle Corporation, Schneider Electric SA, Siemens AG, CGI Inc, Advanced Control Systems Inc, Oracle Corporation, Operation Technology, Inc., FirstEnergy Corp., Hexagon AB, Kaihen, mPower Innovations, Futura Systems Inc, and among others.


Regional Analysis:


North America is likely to hold major market share owing to the increasing need to restore power. A increasing adoption of energy management systems is the key factor for driving the market across North America. Significant investments by the United States utility industry for advancing utility operations are positively impacting market growth. As per the 'Smart Grid System Report' published by the U.S Department of Entergy in February 2019, the United States utility industry has invested USD 144 billion to develop power generation, transmission, and distribution systems. This growth has further driven by the presence of prominent companies across the region. Increasing demand for analytical tools across the utility industry would fuel the market growth. Significant development of smart infrastructure projects would boost the OMS demand across North America. The region is leading in the adoption of advanced technology solutions, which further accelerates OMS's adoption rate. The growing popularity of smart grids and advanced metering technology is likely to fuel market growth.


Europe is expected to showcase significant market share owing to the progressive demand for digitally enabled grids. The need to save and restore electricity is the key factor in supporting market growth across Europe. With the progressive approaches towards advanced technology, smart grids are becoming mainstream in the European utility industry. Various smart grid projects have been funded by the European Government, which further boosts the market growth.     


Strong economic growth in emerging Asian countries such as China and India is likely to bolster the investments in smart infrastructure projects. For instance, in November 2017, Indian government invested USD 44.9 billion in smart grid infrastructure projects. Thus, a favorable government initiative for smart infrastructure development is likely to propel the market growth across the region. Rapid urbanization and industrialization are further stimulating the OMS demand. The significant demand for advanced distribution management systems would drive the OMS market across the Asia-Pacific. 


To gain extensive insights into the market, Request for Customization


Segmentation






















 ATTRIBUTE


  DETAILS

By Component


 




  • Software Solution

    • Stand-alone

    • Integrated



  • Services



By End User




  • Public Utilities

  • Private Utilities



By Geography




  • North America (the United States, Canada, and Mexico)

  • South America (Brazil, Argentina, and Rest of South America)

  • Europe (the U.K., Germany, France, Italy, Spain, Russia, Benelux, Nordics, and Rest of Europe)

  • Middle East & Africa (Turkey, Israel, GCC, North Africa, South Africa, and Rest of the Middle East & Africa)

  • Asia Pacific (China, India, Japan, South Korea, ASEAN, Oceania, and Rest of Asia Pacific)



Key Industry Developments :



  • January 2018: The Florida-based municipal electric utility company, ‘Gainesville Regional Utilities,’ has selected Open Systems International, Inc. to supply an outage management system (OMS) to replace their existing legacy system..


Outage Management System (OMS) Market  Size, Share and Global Industry Trend Forecast till 2026
  • Ongoing
  • 2020
  • 2017-2019

    CHOOSE LICENSE TYPE

  • 4850
    6850
    8850

Personalize this Research

  • Granular Research on Specified Regions or Segments
  • Companies Profiled based on User Requirement
  • Broader Insights Pertaining to a Specific Segment or Region
  • Breaking Down Competitive Landscape as per Your Requirement
  • Other Specific Requirement on Customization
Request Customization Banner

Information & Technology Clients

Lek
Kpmg
Google
Yahoo
Toshiba

Client Testimonials

“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”

- One of the Leading Food Companies in Germany

“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”

- Intuitive Surgical

“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”

- Major Food Company in Japan

“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”

- Ziering Medical

“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”

- Major Manufacturer of Precision Machine Parts in India

“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”

- Hewlett-Packard

“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”

- Global Management Consulting Firm

“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”

- UK-based Start-up in the Medical Devices Sector

“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”

- One of the Largest Companies in the Defence Industry
We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies . More info.
X