Market Overview
The Outage Management System Market is experiencing significant growth, driven by the increasing frequency of power outages globally and the aging grid infrastructure. Valued at approximately USD 1,182 million in 2024, it is projected to reach USD 5,742 million by 2030, with a remarkable CAGR of 30.14% during the forecast period from 2025 to 2030.
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Key Driver-
The increasing occurrence of power outages, resulting from extreme weather conditions and outdated infrastructure, significantly drives the Outage Management System (OMS) market. Countries with aging grid systems, such as the U.S. and India, are particularly affected, leading to substantial investments in OMS to ensure efficient power restoration. Furthermore, government policies promoting smart grid technology adoption enhance growth opportunities within the market.
Upcoming Challenge-
Despite the growth of the OMS market, high deployment and maintenance costs present a substantial challenge. These expenses, particularly related to software, hardware, and system integrations, act as barriers for medium and small enterprises. Furthermore, the reluctance to adopt advanced systems due to financial limitations hinders market expansion and may lead to a preference for traditional systems, reducing the overall market potential.
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