The market research report identifies Cisco Systems, Inc., N-Dimension Solutions Inc., Elster Solutions, Intel Corporation, IBM Corporation, Oracle, Symantec Corporation, Siemens AG, BAE Systems, and Leidos as the major vendors operating in the global smart grid security market.
Overview of the Global Smart Grid Security Market
According to the author, the global smart grid security market will grow at a rate of over 8% during the forecast period 2019-2025. The market for smart grid security is driven by the rise in demand for efficient power consumption and renewable energy resources across the globe. Integration of innovative and networking technologies along with modernization provides an opportunity for smart grid security market to improve security options. However, diverse guidelines relating to cybersecurity is hampering the market growth.
The growing demand for efficient power consumption and renewable energy resources across the globe are among the key factors driving the market. Continuous development and integration of innovative novel and networking technologies are improving the security measures. Considering the complexity involved with smart grid due to complex network, there is an increase in the risk factors including security, data confidentiality, and vulnerabilities.
This could result in an increased attack by penetrating the network and gaining access over the software and modify load conditions to disrupt the grid, resulting in a rise in demand for smart grid security solutions. Furthermore, increasing government initiatives toward smart grid technology for digitizing the power sector will steer the growth of the market during the forecast period. This helps in enhanced distribution and usage while reducing transmission loss during power delivery.
North America accounted for the largest share of the global smart grid security market in 2018. With the presence of the highest number of technology innovators and increasing adoption of smart grid security in this region, it is expected to dominate the market during the forecast period. Asia Pacific region is expected to witness the fastest growth rate due to the increasing need for secure and reliable power supply.
Smart Grid Security Market: Competitive Analysis and Key Vendors
The report covers and analyzes the global smart grid security market. Major vendors across different verticals are increasingly developing products and investments in this market and as a result, the smart grid security market is expected to grow at a decent pace in the coming years.
The key players in the smart grid security market are adopting various organic as well as inorganic growth strategies such as mergers & acquisitions, collaborations & partnerships, joint ventures, and few other strategies to gain the competitive advantage in the market.
Few of the Key Vendors in the Smart Grid Security Market:
BAE Systems PLC
Cisco Systems, Inc.
Key Topics Covered:
1 Executive Summary
2 Industry Outlook
3 Market Snapshot 3.1 Total Addressable Market 3.2 Segmented Addressable Market 3.2.1 PEST Analysis 3.2.2 Porter's Five Force Analysis 3.3 Related Markets
5 Smart Grid Security Market By Deployment- Market Size and Analysis 5.1 Overview 5.1.1 On-premise 5.1.2 Cloud-based
6 Smart Grid Security Market By Security Type - Market Size and Analysis 6.1 Overview 6.2 Database 6.3 Application 6.4 Network 6.5 Endpoint 6.6 Others
7 Smart Grid Security Market By Application - Market Size and Analysis 7.1 Smart Meters 7.2 Smart Application 7.3 Renewable Energy Resources 7.4 Energy Efficient Resources 7.5 Others
8 Market Segmentation By Region - Market Size and Analysis 8.1 Overview 8.2 North America 8.2.1 US 8.2.2 Canada 8.3 Europe 8.3.1 UK 8.3.2 Germany 8.3.3 RoE 8.4 APAC 8.4.1 China 8.4.2 Japan 8.4.3 India 8.4.4 RoAPAC 8.5 RoW 8.5.1 MEA 8.5.2 Latin America