Global Smart Grid Cyber Security Market – Industry Analysis and Forecast (2020-2026)


Posted June 17, 2021 by mayurikathade

Global Smart Grid Cyber Security Market was valued at US$ 5.2 Bn in 2020 and is expected to reach US$ 12.3 Bn by 2026, at a CAGR of 11.36% during the forecast period.

 
Global Smart Grid Cyber Security Market was valued at US$ 5.2 Bn in 2020 and is expected to reach US$ 12.3 Bn by 2026, at a CAGR of 11.36% during the forecast period.

The report includes an analysis of the impact of COVID-19 lockdown on the revenue of market leaders, followers, and disruptors. Since the lockdown was implemented differently in various regions and countries; the impact of the same is also seen differently by regions and segments. The report has covered the current short-term and long-term impact on the market, and it would help the decision-makers to prepare the outline and strategies for companies by region.Global Smart Grid Cyber Security Market

To know about the Research Methodology:-Request Free Sample Report
Global Smart Grid Cyber Security Market Dynamics:

The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data, and projections with a suitable set of assumptions and methodology. The report also helps in understanding global smart grid cyber security market dynamics, structure by identifying and analyzing the market segments and project the global market size.

Further, the report also focuses on the competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address questions of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in the global smart grid cyber security market.

The smart grid is a digital infrastructure that sits on top of the already present electrical grid. This helps to monitor grid conditions, energy consumption, and generation as well as automate several of its operations. A reliable and secure smart grid system provides protective approaches to improve the security from cyber-attacks, like distributed denial-of-service (DDoS) attacks.

The constant rising need for the energy required to the urban population and recent advancements in the technology of power grids are the primary drivers of the global smart grid cyber security market. Further, the existence of security standards for ensuring privacy and data protection of users, a rising number of connected devices in smart grid networks, and amplified sophistication of cyber-attacks and government regulations to maintain efficient energy consumption are boosting the growth of the market.

According to the analysis, the major challenge to the growth of the global smart grid cyber security market is long investment cycles in the energy sector, maintaining cyber security standards over time, and unpredictability of cyber-attacks. Deficiency of awareness among a number of stakeholders and the requirement for periodic maintenance are hampering the growth of the global smart grid security market. The continuous evolution of smart grids and the incorporated offering of smart grid IT and cyber security solutions are projected to produce several opportunities for the merchants of this market.

In 2020, network security holds the major share of the smart grid cyber security market. The progress is powered by the rising attacks on the critical infrastructure in helpfulness organizations. The application security is estimated to grow rapidly during the forecast period owing to the rising trends of the smart grid, Internet of Things, connected devices, growing adoption of web and mobile-based business applications, which are unsafe to advance cyber threats. The growing need for organizations to balance the energy demand and supply and for effective business operations is increasing the demand for response subsystem in the global market.

The smart grid security market contains solutions and services that are delivered to safe the critical infrastructure of a smart grid. An entire range of applications and technologies, like supervisory control and data acquisition (SCADA), advanced metering infrastructure. These applications are introduced demand response management system, and home energy management in the grid system to advance the transmission & distribution process and diminish energy consumption. So demand response and home energy management sub-segments are expected to grow in the forecast period.

North America is anticipated to be a leading region in the global smart grid security market, which currently holds maximum share and is scheduled to expand rapidly in the forecast period. The North American market accounted for a share of 40% in the global smart grid cyber security market in 2019. Technological development is one of the major drivers of growth in the region which is resulted in a move toward the digitalization of grid systems, particularly for commercial usage. The U.S., in North America, is holding a dominant share.

Rising technological development in the grid systems and security systems is boosting the market growth in the region. The Asia Pacific is expected to surpass all other regions by recording the highest CAGR from 2020 to 2026 In terms of growth rate. This is mostly on account of the swift technological advances in the energy and power industry across countries such as India, China, and Japan.
Global Smart Grid Cyber Security Market, Key Highlights:

• Global Smart Grid Cyber Security Market analysis and forecast, in terms of value.

• Comprehensive study and analysis of market drivers, restraints and opportunities influencing the growth of the Global Smart Grid Cyber Security Market

• Global Smart Grid Cyber Security Market segmentation on the basis of type, source, end-user, and region (country-wise) has been provided.

• Global Smart Grid Cyber Security Market strategic analysis with respect to individual growth trends, future prospects along with the contribution of various sub-market stakeholders have been considered under the scope of study.

• Global Smart Grid Cyber Security Market analysis and forecast for five major regions namely North America, Europe, Asia Pacific, the Middle East & Africa (MEA) and Latin America along with country-wise segmentation.

• Profiles of key industry players, their strategic perspective, market positioning and analysis of core competencies are further profiled.

• Competitive developments, investments, strategic expansion and competitive landscape of the key players operating in the Global Smart Grid Cyber Security Market are also profiled.

The report has considered the base year of 2019 and past four years trend. 2020 figures are at actuals, however due to different dynamics of year 2020, market forecast is not only dependent upon 2020, but on the basis of 2016-2020.
Scope of the Global Smart Grid Cyber Security Market: Inquire before buying

Global Smart Grid Cyber Security MarketGlobal Smart Grid Cyber Security Market Key Player

• BAE Systems PLC
• IBM Corporation
• Cisco Systems, Inc
• Siemens AG
• Symantec Corporation
• N-Dimension Solutions
• Elster Solutions
• Leidos
• AlienVault
• Black and Veatch
• Intel
• Entergy Services
• HP
• Sophos
• Sourcefire
• ViaSat
• VeriSign
• Honeywell International
• AlertEnterprise
• Sentryo
• Eaton

For More Information Visit @:https://www.maximizemarketresearch.com/market-report/global-smart-grid-cyber-security-market/24516/




                                                

 This Report Is Submitted By : Maximize Market Research Company

Customization of the report:  

Maximize Market Research provides free personalized of reports as per your demand. This report can be personalized to meet your requirements. Get in touch with us and our sales team will guarantee provide you to get a report that suits your necessities.

About Maximize Market Research: 

Maximize Market Research provides B2B and B2C research on 20,000 high gr      owth emerging opportunities & technologies as well as threats to the companies across the Healthcare, Pharmaceuticals, Electronics & Communications, Internet of Things, Food and Beverages, Aerospace and Defense and other manufacturing sectors.

           
-- END ---
Share Facebook Twitter
Print Friendly and PDF DisclaimerReport Abuse
Contact Email [email protected]
Issued By maximizemarket
Phone 09607195908
Business Address india
Apt. No. or Suite No.
Country India
Categories Advertising
Tags global smart grid cyber security market
Last Updated June 17, 2021