Utility Outage Management System Spending is Expected to Total Nearly $11.8 Billion from 2014 to 2023, According to Navigant Research

BOULDER, Colo.–([1])–A recent report from Navigant
Research
[2] analyzes the global market opportunities for outage
management systems (OMSs), including global market forecasts for
spending, segmented by category and region, through 2023.

Historically, OMSs have been configured to respond to signals that
indicate outages, manage restoration, and communicate outage
information. However, with much larger amounts of data available from
modern smart grid technologies, today’s OMSs are becoming more complex
and robust, incorporating more features to better prevent outages and
restore power more efficiently. Click
to tweet:
[3] According to a recent report from Navigant Research,
global utility OMS spending is expected to total nearly $11.8 billion
from 2014 to 2023.

“As the grid has become smarter and more connected, utilities and
vendors have recognized several issues with legacy OMS systems, which is
driving change in the technology,” says Lauren Callaway, research
analyst with Navigant Research. “These innovations focus on integrating
real-time information reporting, big data analytics, the cellular
connectivity of work crews, and the growing effort to mesh engineering
and operations IT systems with operational technology (OT).”

Because today’s OMSs need to be able to handle more data and restore
power faster, vendors have created combined systems that also
incorporate distribution management systems and supervisory control and
data acquisition functionality. According to the report, these
integrated systems, known as advanced distribution management systems
(ADMSs), are expected to erode sales of standalone OMSs over the
forecast period, particularly in North America and Europe.

The report, “Outage
Management Systems,”
[4] analyzes the global market opportunities for
OMSs. It provides an assessment of the current market drivers and
challenges, regional trends, technologies, and business segments related
to OMSs. Global market forecasts for spending, segmented by category
(software purchases and upgrades, software maintenance fees, services,
and analytics) and region, extend through 2023. The report also profiles
key industry players and examines several utilities that have upgraded
their OMSs to align with more ambitious smart grid initiatives and
aggressive regulatory policies. An Executive Summary of the report is
available for free download on the Navigant
Research website
[5].

About Navigant Research

Navigant Research, the dedicated research arm of Navigant, provides
market research and benchmarking services for rapidly changing and often
highly regulated industries. In the energy sector, Navigant Research
focuses on in-depth analysis and reporting about global clean technology
markets. The team’s research methodology combines supply-side industry
analysis, end-user primary research and demand assessment, and deep
examination of technology trends to provide a comprehensive view of the
Smart Energy, Smart Utilities, Smart Transportation, and Smart Buildings
sectors. Additional information about Navigant Research can be found at www.navigantresearch.com[6].

About Navigant

Navigant is a specialized, global professional services firm dedicated
to assisting clients in creating and protecting value in the face of
critical business risks and opportunities. Through senior level
engagement with clients, Navigant professionals deliver expert and
advisory work through implementation and business process management
services. The firm combines deep technical expertise in Disputes and
Investigations, Economics, Financial Advisory and Management Consulting,
with business pragmatism to address clients’ needs in highly regulated
industries, including Construction, Energy, Financial Services and
Healthcare. More information about Navigant can be found at navigant.com[7].

* The information contained in this press release concerning the
report, “
Outage Management Systems,” is a summary and reflects
Navigant Research’s current expectations based on market data and trend
analysis. Market predictions and expectations are inherently uncertain
and actual results may differ materially from those contained in this
press release or the report. Please refer to the full report for a
complete understanding of the assumptions underlying the report’s
conclusions and the methodologies used to create the report. Neither
Navigant Research nor Navigant undertakes any obligation to update any
of the information contained in this press release or the report.

References

  1. ^ (www.businesswire.com)
  2. ^ Navigant Research (cts.businesswire.com)
  3. ^ Click to tweet: (cts.businesswire.com)
  4. ^ “Outage Management Systems,” (cts.businesswire.com)
  5. ^ Navigant Research website (cts.businesswire.com)
  6. ^ www.navigantresearch.com (cts.businesswire.com)
  7. ^ navigant.com (cts.businesswire.com)
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