Utility IT infrastructures across the world are undergoing significant changes due to the introduction of smart grid technologies. The integration of massive amounts of data from smart meters and increased distributed grid monitoring and intelligence are also contributing to these changes. Historically, outage management systems (OMSs) have been configured to respond to signals that indicate outages, manage restoration, and communicate outage information. The overall purpose and function of an OMS has not changed significantly over the years.
However, with much larger amounts of data, the growing sophistication of smart grid IT, and major advances in big data analytics, new OMSs are becoming more complex and robust. More utilities are grasping the possibilities of maximizing value with IT/OT convergence, which is also changing the game around how an OMS can prevent outages and restore power more efficiently. Solutions for OMSs range from full advanced distribution management systems (ADMSs) with embedded OMS capabilities to standalone OMS platforms that are configured to manage information from different databases. Aware that utilities are hesitant to engage in a full reorganization that would be required upon adoption of an ADMS, some vendors have developed future-proofed OMSs. According to Navigant Research, global OMS spending is expected to grow from $929.4 million in 2014 to $1.3 billion in 2023.
This Navigant Research report analyzes the global market opportunities for OMSs. The study 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.
Source: Intelligent Utilty
View all SMART GRID Bulletins click here
Enter your email-id to subscribe to theSMARTGRID Bulletins