Portland, OR , Feb. 02, 2023 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global energy security market was estimated at $15.61 billion in 2021 and is expected to hit $42 billion by 2031, registering a CAGR of 10.5% from 2022 to 2031. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and evolving market trends. The market study is a helpful source of information for the frontrunners, new entrants, investors, and shareholders in crafting strategies for the future and heightening their position in the market.
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Report coverage & details:
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $15.61 Billion |
| Market Size in 2031 | $42.02 Billion |
| CAGR | 10.5% |
| No. of Pages in Report | 283 |
| Segments Covered | Component, Technology, Power Plant, and Region. |
| Drivers | Increased government pressure and security compliance and regulation |
| Increase in threats from terrorist and cyber-attacks | |
| Increase in physical attacks and insider threats | |
| Restraints | Lack of apprehension about security implementation by operators |
| Opportunities | Rise of new energy markets in developing economies |
Covid-19 scenario-
- With alarming increase in COVID-19 patients, various governments have implemented lockdown, which significantly increased digital business operations in energy industry, which in turn drives the growth of the market.
- Furthermore, the increase in number of new power plants to support the growing electrical demands from various countries is substantially driving the demand for energy security to protect from both internal and external threats.
The global energy security market is analyzed across component, technology, power plant, and region. The report takes in an exhaustive analysis of the segments and their sub-segments with the help of tabular and graphical representation. Investors and market players can benefit from the breakdown and devise stratagems based on the highest revenue-generating and fastest-growing segments stated in the report.
By component, the solution segment held the largest share in 2021, garnering around three-fourths of the global energy security market revenue, and is projected to maintain its dominance by 2031. The service segment showcase the fastest CAGR of 12.0% during the forecast period.
By technology, the physical security segment contributed to nearly one-third of the global energy security market share in 2021, and is projected to rule the roost by 2031. The network security segment, on the other hand, would display the fastest CAGR of 12.8% throughout the forecast period.
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By power plant, the thermal and hydro segment accounted for the highest share in 2021, generating nearly half of the global energy security market revenue. The renewable energy segment would portray the fastest CAGR of 12.9% during the forecast period.
By region, North America held the major share in 2021, garnering more than one-third of the global energy security market revenue. Asia-Pacific, simultaneously, would showcase the fastest CAGR of 12.8% from 2022 to 2031.
The key market players analyzed in the global energy security market report include ABB Ltd., AEGIS Security & Investigations, BAE Systems plc, Elbit Systems Ltd., Thales, Teledyne FLIR LLC, Honeywell International Inc, hexagon ab, Lockheed Martin Corporation, and Siemens AG. These market players have embraced several strategies including partnership, expansion, collaboration, joint ventures, and others to highlight their prowess in the industry. The report is helpful in formulating the business performance and developments by the top players.
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About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
