Outage Management System Market Size

Market Size Snapshot

Note – Market size depicts the revenue generated over the financial year

The outage management system market is expected to grow significantly, with a market size of $ 1,583.1 million in 2024, projected to reach $ 6,311.1 million by 2032. This growth rate is a CAGR of 18.88% over the forecast period. The increasing demand for reliable and efficient power distribution systems and the increasing frequency of power outages are driving the power industry to adopt advanced outage management systems. Also, the integration of artificial intelligence and machine learning into outage management system platforms to achieve real-time and pre-emptive decision-making. Also, the increasing focus on smart grids and the Internet of Things is expected to further facilitate the detection and management of power outages. The leading companies in the outage management system market, such as Schneider Electric, Siemens, and Oracle, have adopted various strategies such as strategic alliances and product innovations to enhance their service offerings and increase their market share. Recent collaborations to develop next-generation outage management solutions, for example, have shown that the industry is committed to deploying technology for improved outage management.

Regional Market Size

Regional Deep Dive

The Outage Management System (OMS) market is growing at a fast pace across various regions, as a result of the increasing need for reliable power supply and improved grid management. North America is characterized by advanced technology implementation and smart grid initiatives. Europe is characterized by an increase in regulations to improve energy efficiency and sustainability, while Asia-Pacific is growing rapidly as a result of rapid urbanization and industrialization. The Middle East and Africa is focused on improving the power supply and diversifying the energy sources, while Latin America is characterized by the use of renewable energy sources to increase grid resilience. Each region presents unique opportunities and challenges for the OMS market, based on local regulations, economic conditions, and technological developments.

Europe

• The European Union's Green Deal is prompting utilities to adopt OMS solutions that support renewable energy integration and grid modernization, with companies like ABB and GE actively participating in projects aimed at enhancing grid stability.
• Recent innovations in OMS software, such as real-time data analytics and mobile workforce management, are being adopted by utilities across the region to improve operational efficiency and customer service.

Asia Pacific

• Countries like India and China are investing heavily in smart grid technologies, with government initiatives such as the Smart Cities Mission in India driving the adoption of OMS solutions to manage outages more effectively.
• The rise of distributed energy resources (DERs) in the region is leading to the development of OMS that can handle complex grid dynamics, with companies like Hitachi and Mitsubishi Electric at the forefront of these innovations.

Latin America

• Countries like Brazil are focusing on improving grid resilience through the implementation of OMS, supported by government programs aimed at modernizing the energy sector and reducing outages.
• The increasing penetration of renewable energy sources in Latin America is prompting utilities to adopt OMS that can effectively integrate these resources into the existing grid infrastructure.

North America

• The exploitation of the OMS is gaining ground. Artificial intelligence and machine learning are beginning to be used in OMS solutions, and companies like Siemens and Schneider Electric are developing solutions that use predictive analysis to improve outage response times.
• Regulatory changes in states like California, which mandate improved grid reliability and resilience, are pushing utilities to invest in advanced OMS technologies, thereby driving market growth.

Middle East And Africa

• The UAE's Vision 2021 is encouraging the adoption of smart grid technologies, including OMS, to enhance energy efficiency and sustainability, with organizations like Dubai Electricity and Water Authority (DEWA) spearheading initiatives.
• Investment in renewable energy projects, such as solar and wind, is driving the need for advanced OMS solutions to manage the variability of these energy sources effectively.

Did You Know?

“Approximately 80% of utility outages are caused by external factors such as weather events, highlighting the critical need for advanced outage management systems to mitigate these impacts.” — U.S. Department of Energy

Segmental Market Size

Outage Management System (OMS) is a critical part of the reliability and efficiency of utility operations, especially in the energy sector. This is a growing market, driven by the increasing demand for uninterrupted power supply and the need to minimize outage durations. This demand is further fueled by the increasing frequency of extreme weather events, which necessitates a robust outage response strategy, and by the regulatory requirements for improved service reliability and transparency in outage reporting. OMS is a mature market with several well-known deployments at companies such as Duke Energy and Pacific Gas and Electric. Its main applications are real-time outage detection, customer communication, and resource allocation during outages. These applications are further expanded by the need to integrate OMS with advanced analytics and IoT solutions. OMS is evolving to become a more proactive and data-driven system.

Future Outlook

Outage Management System (OMS) is a market which is projected to increase from $1.58 billion in 2024 to $6.3 billion in 2032, with a CAGR of 18.88%. This growth is driven by the increasing demand for reliable energy supply, the need for electricity distribution companies to improve their operational efficiency and customer satisfaction. The ageing of the electrical network and the increasing frequency of extreme weather events will also be a major driver for the adoption of advanced OMS solutions. By 2032, it is expected that the penetration of OMS solutions in the electricity industry will reach over 70%, as companies continue to invest in technology to prevent outages and improve the resilience of the grid. Further market growth will be driven by the integration of artificial intelligence and machine learning into OMS platforms. These two technologies will allow companies to predict outages and optimize the allocation of resources during restoration. Moreover, the increasing implementation of smart grid and the Internet of Things will facilitate the collection and communication of real-time data, enabling more efficient outage management processes. Policy drivers such as the modernization of the energy system and the promotion of sustainable development will also play an important role in shaping the OMS market. The OMS market will continue to grow, as it will become an essential part of the digital transformation of the electricity industry.