The demand for the reliable and continuous supply of electricity is increasing, and this is creating need for an efficient system to manage the distribution of power and grid supervisors to identify outages, supply an alert and restore the power. The capabilities of outage management system are that it has integrating interactive voice response which provides enhanced communication with the client to satisfy the customer.
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To satisfy the customer and their increasing demand the utility industry is using an outage management system. Limited generation of power resources will create the need to save and restore power. Increasing concern with respect to excessive power utilization carry out power distribution operator to depend on outage management system. Thus the increasing power utilizing concerns will boost the growth of outage management system market.
Market Trends
- As the need for restoring power in North America is increasing. The North America will share agood hold on the outage management system market.
- Increasing investment by the utility industry of the U.S to bring advancement in the utility operation is driving the growth of the outage management system in the U.S.
- The demand for digitally enabled grids is increasing in Europe. Solving and restoring electricity is the basic factor driving the growth of the outage management system market in Europe. Many utility industry of Europe has been funded by the Government of Europe and this also boosts the market.
- Market players are adopting many strategies such as acquisition, mergers, contracts, new product launches, agreements, and partnerships to expand their business.
- The municipal electric utility company Gainesvilla Regional Utilities, which is basically from Florida has selected the company Open systems International, Inc., to provide an outage management system market to replace their existing legacy system.
Top Key Market Players
- ABB Ltd.
- General Electric Company
- Oracle Corporation
- Schneider Electric SE
- Siemens AG
- Intergraph Corporation
- Advanced Control Systems Inc.
- CGI Group
- Survalent Technology Corporation
- S&C Electric Company
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Key Benefits of the Report
- This study presents the analytical depiction of the outage management system industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of the outage management system market share.
- The current market is quantitatively analyzed from 2020 to 2030 to highlight the outage management system market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed outage management system market analysis based on competitive intensity and how the competition will take shape in the coming years
COVID-19 Impact Analysis
- The COVID-19 has caused temporary closures of commercial and industrial establishments, as well as the suspension of public transportation services around the world. This harms electricity demand.
- Residential power demand has increased slightly as a result of the country-wide lockdown, which has caused more people to stay at home. Utility operators are adapting to the COVID-19 operating environment to offer delayed services to customers so that they may focus on improving grid resiliency and asset management, which are the top priority for utilities.
- The utilization of technology that enables remote monitoring, edge computing, and machine learning, as well as access to massive amounts of data and analytics, is employed to ensure that the power system is not disturbed.
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