Outage Management
The Outage Management Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].
What Is the Outage Management Market Size and Projected Growth Rate?
In the past few years, the size of the outage management market has seen a swift growth. Anticipations suggest an escalation from $1.14 billion in 2024 to $1.36 billion in 2025, marking a compound annual growth rate (CAGR) of 19.5%. The significant growth observed during the historical phase can be credited to factors such as outdated infrastructure, the reliability of the grid, extreme weather conditions, regulatory enforcement, and asset management.
In the forthcoming years, the size of the outage management market is projected to experience significant expansion. It is estimated to balloon up to a value of $2.59 billion in 2029, with an impressive compound annual growth rate (CAGR) of 17.4%. Factors such as distributed energy resources, electrification initiatives, public-private collaborations, cybersecurity, and customer expectations contribute to the predicted growth in the market during the forecast period. Key trends for the same period will involve data and analytics, grid modernisation, microgrids, remote monitoring, and mobile applications.
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What Are the Major Segments in the Outage Management Market?
The outage management market covered in this report is segmented –
1) By Type: Software, Services
2) By Product: Integrated, Standalone
3) By End User: Public Utility, Private Utility
4) By Application: Residential, Commercial
Subsegments:
1) By Software: Outage Management System (OMS), Geographic Information System (GIS), Mobile Workforce Management Software, Customer Engagement Software, Data Analytics And Reporting Tools
2) By Services: Consulting Services, Implementation Services, Training and Support Services, Maintenance And Upgrades, Managed Services
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What Are The Driving Outage Management Market Evolution?
The market expansion is bolstered by the escalating need for energy due to burgeoning population numbers and swift urban development. Corresponding to this expansion, there exists a necessity for effective administration and allocation of electricity to mitigate potential detrimental mishaps or incidents. As an illustration, reports from the Department for Energy Security and Net Zero, a government department based in the UK, suggested a noteworthy escalation in renewable electricity production in the third quarter of 2023. It reached 30.1 TWh, up by 6.8% from 2022, and the addition of new renewable capacity amounted to 2.9 GW, inclusive of a substantial expansion in solar PV and wind installations, leading to the share of renewables in total electricity generation rising to 44.5%. Consequently, the outage management market is experiencing growth driven by augmented energy demand due to an expanding population and rapid urbanization.
Which Firms Dominate The Outage Management Market Segments?
Major companies operating in the outage management market include ASEA Brown Boveri Ltd., General Electric Company, Oracle Corporation, Schneider Electric SA, Siemens AG, Consultants to Government and Industry Incorporated, Advanced Control Systems Inc, Intergraph Corporation, Futura Systems Inc., Survalent Technology Corporation, Milsoft Utility Solutions, S&C Power Company, Westinghouse Electric Company, Utilities Kingston, Gainesville Regional Utilities, Itron Inc., Eaton Corporation, Landis+Gyr., Enghouse Systems, Det Norske Veritas GL, Hexagon Safety & Infrastructure, DataVoice International Inc., AutoGrid, SmartGridCIS, Clevest Solutions Inc., Sentient Energy Inc., Beckwith Electric Co. Inc., Aclara Technologies, Thales Group
What Trends Are Expected to Dominate the Outage Management Market in the Next 5 Years?
The utility of network management systems beyond control rooms is witnessing a surge in the market as they aid in swiftly restoring services to consumers. For instance, in June 2024, the USA’s Duquesne Light Company (DLC) announced its new Outage Management System (OMS). This includes an enhanced, informative outage map integrated into the firm’s website and mobile application. This crucial facet of DLC’s ongoing updates to their electricity grid augments the process of outage restoration, promising superior services to their customers. Furthermore, this novel technology offers amplified transparency, real-time updates on outages across the company’s servicing area, and improved outage communication.
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Which Is The Largest Region In The Outage Management Market?
North America was the largest region in the outage management market in 2024 and is expected to be the fastest-growing region in the forecast period. The regions covered in the outage management market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Outage Management Market?
2. What is the CAGR expected in the Outage Management Market?
3. What Are the Key Innovations Transforming the Outage Management Industry?
4. Which Region Is Leading the Outage Management Market?
Why This Report Matters:
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