Global Outage Management Systems (OMS) Market Outlook to 2028

Global Outage Management Systems (OMS) Market Outlook to 2028

The growing transmission and distribution network over time coupled with the surge in renewables integration with the grid, increasing need for utilities to track and report outages accurately for reliable and uninterrupted power supply are some of the few factors driving the outage management systems market growth.

North America is suffering from an increase in the number of outage problems, especially in the US. In the recent year 2020, the US has faced several severe outages majorly due to natural calamities like hurricanes and wildfire, causing trouble. To find success in this increasingly challenging environment, electric companies must reassess their existing field workflows and look into more modern operational approaches and assets like outage management system. Further, the need for resilient and reliable power will drive the demand for OMS solutions in the region for the forecast period.

The Start-ups are raising funds for advanced technology development in fault detection of utilities. For instance, in November 2020, Buzz Solutions raised USD 1.2 million from Blackhorn Ventures with participation from a syndicate comprising Ulu Ventures, Vodia Ventures, and Advisors fund to help advance the company's technology. Its technology uses AI and Machine Vision, analyzing millions of images of power lines taken from drones to detect dangerous flaws in the infrastructure, helping utilities to identify problem areas and repair them before a fire starts.

This market research report provides an overview of the competitive landscape for Outage Management Systems. The study also comprehensively analyses the Outage Management Systems market by segmenting it based on geography (North America, Europe, Asia-Pacific, South America, and the Middle East & Africa).

It also includes specific profiles of the major regional markets, market opportunities, market trends, developments, and new product launches. Our outage management systems report and data provide deep insight into the market's current and future state. Further, Outage Management Systems market size, demand forecast, and growth rates will also be provided in the report.
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