Global Smart Grid Security Market is accounted for USD 4.89 billion in 2017 and is projected to grow at a CAGR of 11.2% the forecast period of 2018 to 2025. The upcoming market report contains data for historic years 2016, the base year of calculation is 2017 and the forecast period is 2018 to 2025.
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Global Smart Grid Security Market By Solution (Antivirus and antimalware, Firewall and others), By Service (professional services and managed services), By Deployment Mode (Cloud and On-Premises), By Subsystem (Advanced metering infrastructure and others), By Security Type (Endpoint security, Network security and others) and By Geographical Segments- Industry Trends and Forecast to 2025
Key Players:
- Intel Corporation
- Siemens AG
- Symantec Corporation
- IBM Corporation
- Cisco Systems, Inc
- Leidos Holdings, Inc.
- Honeywell International Inc.
- BAE Systems Plc.
- N-Dimension Solutions Inc.
- AlertEnterprise Inc.
- International Business Machines
- IOActive
- Lockheed Martin
- Intel Corporation
- Symantec Corporation
- Sophos
- Sourcefire
- Sentryo
- Eaton
- ABB Group
- Enphase Energy
- LandisGyr
- S&C Electric
- Stem
- Sunverge
- Tendril
- Innominate
- AlienVault
- Byres Security
- CyberX.
Competitive Analysis:
The smart grid security market is fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market in order to sustain in long run. The report includes market shares of smart grid security market for global, Europe, North America, Asia Pacific and South America.
Market Segmentation:
The global smart grid security market is based on solution, service, deployment mode, subsystem, security type, and geographical segments.
- Based on the Solution, the global smart grid security market is segmented into antivirus and antimalware, firewall, identity and access management (IAM), encryption, security and vulnerability management, intrusion detection system/intrusion prevention system (IDS/IPS), distributed denial of service (DDoS), others (Data Loss Prevention (DLP), incident response, fraud detection, and security information and event management (SIEM).
- Based on the Service, the global smart grid security market is segmented into professional services and managed services. The professional services are further sub segmented into consulting, education and training and support & maintenance.
- Based on the deployment mode, the global smart grid security market is segmented into cloud and on-premises.
- Based on the subsystem, the global smart grid security market is segmented into supervisory control and data acquisition (SCADA)/Industrial Control System (ICS), advanced metering infrastructure, demand response, and home energy management.
- Based on the security type, the global smart grid security market is segmented into endpoint security, network security, application security and database security.
- Based on geography, the global smart grid security market report covers data points for 28 countries across multiple geographies such as North America, South America, Europe, Asia-Pacific and Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa, and Brazil among others.
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Market Definition:
Smart grids are the incorporation of conventional power network and data and correspondence advancements. The combination enables the buyers and electrical utility suppliers and enhances accessibility and productivity of the power frameworks. Brilliant framework security advertise keeps on developing with innovation and to accomplish productive, dependable, sparing and clean vitality conveyance, smart grids make utilization of various advances, for example, propelled segments, coordinated correspondence, propelled control techniques, enhanced choice help and interfaces and estimation and detecting. These innovative changes rely upon examination of gigantic measures of information and new interconnectivity levels, which is relied upon to additionally advertise development. Consequently, the brilliant matrix security showcase is relied upon to give arrangements that assistance secure the system framework, information and the gadgets associated in the lattice.
The IP measures use in smart grids give an immense preferred standpoint of similarity between various framework segments. In any case, IP utilize makes the gadgets naturally helpless against numerous system assaults, for example, tear drop, foreswearing of administrations and IP caricaturing. Hence, expanding utilization of IP for associated gadgets is anticipated to move brilliant network security showcase request. This market research and analysis identifies that the adoption of cloud-based applications will be one of the major trends that will gain traction in this market in the coming years. Cloud-based smart grid applications offer organizations several features to reduce operational costs and also to centralize their resources. However, cloud-based applications are hosted on the Web, which makes these applications more vulnerable to cyber-attacks. As a result, several security firms will start offering security solutions to protect cloud-based applications from cyber-attacks.
Market Drivers and Restraints:
- The rise in demand and current progressions in innovations of energy frameworks are two essential variables anticipated that would drive development of the smart grid security market.
- Adoption of cloud-based advances is likewise anticipated that would fuel development of the worldwide market in coming years.
- Smart Grids exceptionally defenseless against cyber-attacks, in this manner generating a security showcase which is intended to rampart them.
- The long investment cycles in the energy sector that makes innovation assessment troublesome and prompts a period of time lag amongst actualized and upcoming updates.
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