PUNE, India, November 22, 2016 /PRNewswire/ --
The report "Outage Management System Market by Type (Integrated and Standalone OMS), Component (Software and Communication System), End User (Public and Private Utilities), and Region - Global Forecasts to 2021" published by MarketsandMarkets, the market is expected to grow from an estimated USD 493.7 Million in 2016 to USD 1,148.6 Million by 2021, at a CAGR of 18.4%.
Browse 65 market data Tables and 50 Figures spread through 141 Pages and in-depth TOC on "Outage Management System Market"
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The global market is set to witness growth owing to increasing grid reliability and smart grid deployments, which will lead to significant investment for the upgrade and replacement of the existing T&D infrastructure.
The communication system segment is expected to hold the largest share of the Outage Management System Market, by component, during the forecast period
The communication system segment led the Outage Management System Market in 2015, and is expected to grow at the fastest rate during the forecast period, owing to increasing requirement for advanced outage management systems across the globe. This segment is primarily driven by the rising demand for more reliable control systems for proper monitoring and quicker restoration, and is expected to create new revenue pockets for the Outage Management System Market during the forecast period.
Integrated OMS to be the largest segment in the Outage Management System Market
With regard to the type segment, integrated OMS in the Outage Management System Market is expected to be the largest market in 2016. Shifting interest towards advanced applications, such as Advanced Distribution Management System (ADMS), is expected to facilitate the demand for integrated solutions.
North America: The leading market for outage management system
In this report, the Outage Management System Market has been analyzed with respect to five regions, namely, North America, Europe, Asia-Pacific, South America, and the Middle East & Africa. North America is expected to dominate the global Outage Management System Market, given increasing smart grid initiatives in the U.S. and requirement for advanced network control systems in the region.
To enable an in-depth understanding of the competitive landscape, the report includes profiles of some of the top players in the Outage Management System Market. These players include ABB Ltd. (Switzerland), General Electric Company (U.S.), Oracle Corporation (U.S.), Schneider Electric SE (France), and Siemens AG (Germany). Leading players are trying to penetrate the markets in developing economies, and are adopting various strategies to increase their market share.
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