Smart Grid Security Market to Reach $7 Billion by 2021 - Analysis by Solution, Service, Deployment Mode, Subsystem, Security Type & Region

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Jul 18, 2017, 08:15 ET

DUBLIN, July 18, 2017 /PRNewswire/ --

The "Smart Grid Security Market - Global Forecast to 2021" report has been added to Research and Markets' offering.

The smart grid security market size is expected to grow from USD 4.29 Billion in 2016 to USD 7.00 Billion by 2021, at a Compound Annual Growth Rate (CAGR) of 10.3% during the forecast period. The major growth drivers of the market include the global development of smart grids and increased sophistication of cyber-attacks.

Major security types in smart grid security are network security, application security, database security, and endpoint security. The application security is expected to grow at the highest CAGR during the forecast period because of the growing trends of smart grid, Internet of Things (IoT), and connected devices.

Network security holds the largest share of the smart grid security market in 2016. The growth is fueled by the growing attacks on the critical infrastructure in utility organizations. The application security is expected to grow at the highest CAGR during the forecast period due to the increasing adoption of web and mobile-based business applications, which are susceptible to advanced cyber threats. The demand-response subsystem is expected to grow at the highest CAGR, due to the rising need of organizations to balance the energy demand and supply and for efficient business operations.

The global market has been segmented on the basis of regions into North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and Latin America to provide a region-specific analysis in the report. The North American region, followed by Europe, is expected to become the largest revenue generating region for smart grid security vendors in 2016. This is mainly because in the developed economies of the U.S. and Canada, there is high focus on innovations obtained from research and development and technology. The APAC region is expected to be the fastest growing region in the smart grid security market. The growth in this region is primarily driven by the growing adoption of smart grid, web, and mobile-based business applications.

Companies Mentioned

Alertenterprise
BAE Systems PLC
Cisco Systems, Inc.
Elster Solutions
IBM Corporation
Intel Security (Mcafee)
Leidos
N-Dimension Solutions, Inc.
Siemens AG
Symantec Corporation

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview

6 Industry Trends

7 Smart Grid Security Market Analysis, By Solution

8 Smart Grid Security Market Analysis, By Service

9 Smart Grid Security Market Analysis, By Deployment Mode

10 Smart Grid Security Market Analysis, By Subsystem

11 Smart Grid Security Market Analysis, By Security Type

12 Smart Grid Security Market Analysis, By Region

13 Competitive Landscape

14 Company Profile

For more information about this report visit https://www.researchandmarkets.com/research/8m7knq/smart_grid

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SOURCE Research and Markets