LONDON--(BUSINESS WIRE)--Technavio has announced the top five leading vendors in their recent global outage management systems market report until 2021. This research report also lists 16 other prominent vendors that are expected to impact the market during the forecast period.
The research study by Technavio on the global outage management systems market for 2017-2021 provides a detailed industry analysis based on the applications (software and services) and geography (APAC, the Americas, and EMEA).
“The global outage management systems market is projected to grow at a CAGR of more than 5% over the forecast period. The growing need for grid reliability or service reliability is a key factor impacting the growth of the market,” says Thanikachalam Chandrasekaran, a lead analyst at Technavio for smart grid research.
Competitive vendor landscape
The outage management systems market is a fragmented market that includes many prominent vendors as well as new vendors entering the market with many efficient solutions and high integration of advanced technologies available to make the grid more efficient and reliable. As these systems require to be integrated with other systems of grids, users are preferring to buy services from service providers who are offering a complete solution to avoid interoperability issues with systems. This will be beneficial to large vendors such as Siemens, General Electric, Schneider Electric, and Open Systems International that are currently the leading vendors. They have a large portfolio of grid-related products that can be scalable depending on customer needs, making it a competitive market and a challenge for medium and small vendors.
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Top five vendors in the global outage management systems market
ABB provides power and automation technologies for utility, transport, and infrastructure industries throughout the world. It is one of the major vendors of smart grid solutions. The deployment of intelligent software and devices along with network communication system helps utilities to minimize the outage duration and the number of customers affected.
General Electric Grid solutions is a GE-Alstom joint venture that provides products and services for bringing power from the point of generation to consumers' safely and reliably. The company's outage management systems are capable of saving up to 30% of the costs incurred in restoring power after a storm, up to 5X faster work completion, improved communication, and stakeholder engagement.
Open Systems International
Open Systems International is one the major suppliers of open automation and network control and offers optimization solutions for the utility industry. The company offers Electra outage management system, an advanced outage management system that assists utilities to effectively and efficiently restore power.
Schneider Electric produces a wide range of equipment and components for electricity distribution, energy management, and automation management. It provides a comprehensive solution that helps in locating, shortening the restoration time, improve communication with stakeholders, and enhance worker safety.
Siemens is a multinational conglomerate with core activities in the fields of energy, healthcare, industry, and infrastructure. The company offers spectrum power outage management system that offers multiple applications to improve the utility situational intelligence, crew communication, outage prediction precision, and customer engagement.
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