Global Smart Grid Security Market- Industry Analysis and forecast 2019 – 2027

Global Smart Grid Security Market size was valued US$ XX Bn in 2019 and the total revenue is expected to grow at XX% through 2020 to 2027, reaching US$ 13.2 Bn.

Global Smart Grid Security Market

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Global Smart Grid Security Market Dynamics:

The IP standards used in smart grids give a wide preferred standpoint of connection between various framework segments. Expanding the utilization of IP for associated devices is expected to impact intelligent network security showcase demand. The adoption of cloud-based applications is expected to be one of the needed trends that will augment traction in the smart grid security market in the coming years. Cloud-based smart grid applications provide organizations with various features to decrease operational costs and also to organize their resources.

However, the incongruity lifecycles of the IO and OT and differing practices in maintenance, design and qualification are expected to create gaps. These gaps can be maliciously exploited and are anticipated to pose threats to the smart grid security market globally. The report contains a detailed list of factors that will drive and restrain the growth of the glass recycling market.
Growing Demand for Security

Currently, protecting the country’s electricity grid from cyber-attacks has become one of the major issues for the government. Most of the economies of different continents get affected by power grid cyber-attacks. Such as, in 2015, Ukraine got affected by a power grid cyber-attack in which hackers successfully switched off 30 substations and approximately 2, 25,000 people were left without electricity for 1 to 6 hours. Government offices, business centers, private residences, and industrial facilities were affected. Henceforth, to overcome this, the government authorities approved cyber-security reliability standards for executing industrial control system software to have a view on SCADA systems.
Global Smart Grid Security Market Segmentation:

The report provides an in-depth segment analysis of the global smart grid security market, thereby providing valuable insights at the macro as well as micro levels. Based on application, the smart meters segment held the largest market share of XX% in 2019 and is projected to grow at the highest CAGR of XX% to reach US$ XX Mn by 2027.

Smart meters offer a feature to control or deploy various functionalities from remote locations. This provides room for hackers to remove the device, tamper with the data sent to system operators, or extract confidential data of customers.
Global Smart Grid Security Market Regional Analysis:

North America Smart Grid Security Market was valued at US$ XX Mn in 2019 and is expected to reach a value of US$ XX Mn by 2027, with a CAGR of XX% during the forecast period thanks to the technological advancements and early adoption of cyber security in the region. The market in Asia-Pacific is expected to grow at the highest CAGR between 2020 and 2026. The primary driving forces for this growth are growing technological adoption and huge opportunities across emerging power industries in APAC economies.


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Global Smart Grid Security Market Competitive Landscape:

The competitive landscape section in the Smart Grid Security Market offers a deep dive into the profiles of the leading companies operating in the global market landscape. It offers captivating insights on the key developments, differential strategies, and other crucial aspects about the major players having a stronghold in the Smart Grid Security Market. In 2016, IBM launched a group of cyber security specialists and ethical hackers named IBM X-Force Red. The group is aimed at sensing the vulnerabilities in an organization’s IT infrastructure and justifying the cyber threats.

The objective of the report is to present a comprehensive analysis of the Global Smart Grid Security Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Global Smart Grid Security Market dynamics, structure by analyzing the market segments and projects the Global Smart Grid Security Market size. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Smart Grid Security Market make the report investor’s guide.

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Global Smart Grid Security Market, by Component

• Solution
• Services
Global Smart Grid Security Market, by Security type

• Network security
• Application security
• Endpoint security
• Database security
Global Smart Grid Security Market, by Application

• Smart Meters
• Smart Application
• Renewable Energy Resources
• Energy Efficient Resources
Global Smart Grid Security Market, by Region

• North America
• Europe
• Middle East & Africa
• South America
Key players operating in Global Smart Grid Security Market

• BAE Systems PLC
• IBM Corporation
• Cisco Systems, Inc.
• Intel Security (Mcafee)
• Siemens AG
• Symantec Corporation
• N-Dimension Solutions, Inc.
• Elster Solutions
• Alertenterprise
• Leidos
• NortonLifeLock Inc.
• Honeywell International Inc.
• IOActive Inc.
• Lockheed Martin Corporation
• Sophos Ltd.
• Sourcefire
• Sentryo
• Eaton
• Enphase Energy


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