Major Strategies Adopted by the Players in the Outage Management System Market Include Contracts & Agreements and Collaborations & Partnerships
The global outage management system market is projected to grow at a CAGR of 18.4% from 2016 to 2021. The North American market is estimated to be the largest for outage management systems, followed by Asia-Pacific. This trend is expected to continue till 2021. The growth of the outage management system market is driven by rising demand for grid reliability and high-cost of outages.
The outage management system market is dominated by a few global players. Key players operating in the market include ABB Ltd. (Switzerland), General Electric Company (U.S.), Oracle Corporation (U.S.), Schneider Electric SE (France), and Siemens AG (Germany).
Major strategies adopted by the players in the outage management system market include contracts & agreements and collaborations & partnerships. Contracts & agreements was the most commonly adopted strategy from 2012 to August 2016. Industry players also adopted collaborations & partnerships, which was the second most widely followed strategy from 2012 to August 2016.
ABB Ltd. is a leading power and automation technology company. The company conducts its business through five segments, namely, power products, power systems, low-voltage products, discrete automation & motion, and process automation. ABB Enterprise Software (formerly Ventyx) offers outage management software solutions to improve power security, allowing utilities to isolate an outage, prioritize maintenance, and dispatch crews & equipment for faster restoration. ABB Ltd. adopted contracts & agreements as the key growth strategy. In May 2016, ABB Ltd. received a contract from National Grid USA to provide outage management software solution for enhanced monitoring and control measures of its distribution infrastructure. Also, in March 2015, the company entered into an agreement to supply an advanced distribution management solution with Electricity Supply Corporation of Malawi, which includes SCADA, DMS, and OMS software.
General Electric Company is one of the biggest infrastructure and financial services companies in the world. The company operates through major business segments including power & water, oil & gas, energy management, aviation, healthcare, transportation, appliances & lighting, and capital. Outage management system is a part of the energy management segment. The company adopted contracts & agreements as its key strategy in order to enhance its geographic presence. In February 2016, the advanced reactors and nuclear services division of General Electric- GE Hitachi Nuclear Energy entered into a contract with FirstEnergy (U.S.) to provide outage services for its Perry Nuclear Power Plant. Also in December 2015, Tennessee Valley Authority awarded a contract worth more than USD 70 million to GE Hitachi Nuclear Energy to provide outage services for its Browns Ferry Nuclear Power Plant units 1, 2, and 3. The scope of the contract includes a full portfolio of outage and inspection services for the reactors.
Related Reports:
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
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