Smart Grid Security Market 2018 – Industry Trends and Forecast to 2023
Posted by Vilas MRFR on June 26th, 2019
The report on the Global Smart Grid SecurityMarket covers historical market trends, current market dynamics, market valuation by segmentation as well as region, country-level analysis for every segment, key player's market share analysis, competitive landscape and supply chain analysis.
Deployment of smart grid has improvised the power system operation by provisioning the multi-directional information flow between different sub-stations. This has led to benefits such as effective metering to substations, increased security, resilient and efficient grid control, and efficient monitoring of assets among others. Smart grid security refers to the actions undertaken by the electricity grid stakeholders such as utility provider, regulators, and national/state government among others to secure the grid.
Smart grid security market is expected to grow from USD 405.37 million in 2017 to USD 747.07 million by 2023, at a compound annual growth rate (CAGR) of 10.73% during the forecast period. The growing investments to shift country utility infrastructure to smart grid, increased sophistication of cyber-attacks, and growing need to comply with energy generation and consumption regulations and standards are some of the factors driving the growth of smart grid security market.
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The prominent players in the smart grid security market have been identified across all the major regions based on their country of origin, presence across different regions, recent key developments, product diversification, and industry expertise. The major vendors of the market are BAE Systems PLC (U.K.), IBM Corporation (U.S.), Cisco Systems, Inc. (U.S.), Intel Corporation (Intel Security) (U.S.), Siemens AG (Germany), Symantec Corporation (U.S.), N-Dimension Solutions (Canada), Elster Solutions (U.S.), Alert Enterprise (U.S.), Leidos (U.S.), Symantec Corporations (US), Lockheed Martin Corporation (US) and McAfee LLC (US).
The global Smart Grid Security Market is estimated to grow at a notable rate during the forecast period from 2019 to 2023. The geographical analysis of smart grid security market is done for North America, Europe, Asia-Pacific, and the rest of the world.
North America is expected to dominate the smart grid security market from 2019 to 2023 owing to the presence of advanced utility infrastructure, high concentration of market players in the region, and availability of proficient cyber-security expertise. However, Asia-Pacific is estimated to grow at the highest CAGR during the forecast period owing to shift of traditional grid structure to smart grid by many countries in the region.
LIST OF TABLES
Table 1 Global Smart Grid Security Market, By Region, 2019–2023
Table 2 North America: Smart Grid Security Market, By Country, 2019–2023
Table 3 Europe: Smart Grid Security Market, By Country, 2019–2023
Table 4 Asia-Pacific: Smart Grid Security Market, By Country, 2019–2023
Table 5 Middle East & Africa: Smart Grid Security Market, By Country, 2019–2023
LIST OF FIGURES
FIGURE 1 Global Smart Grid Security Market Segmentation
FIGURE 2 Forecast Methodology
FIGURE 3 Porter’s Five Forces Analysis Of Global Smart Grid Security Market
FIGURE 4 Value Chain Of Global Smart Grid Security Market
FIGURE 5 Share Of Global Smart Grid Security Market In 2017, By Country (In %)
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About the AuthorVilas MRFR
Joined: June 3rd, 2019
Articles Posted: 51
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