Dublin, Sept. 04, 2019 (GLOBE NEWSWIRE) -- The "Smart Grid Security Market By Deployment (On-premises and Cloud-based), By Security Type (Database, Application, Network, Endpoint, and Others), By Application (Smart Meters, Smart Application, Energy Efficient Resources, & Others), and By Geography - Global Forecast up to 2025" report has been added to ResearchAndMarkets.com's offering.
- This report provides an in-depth analysis of the smart grid security market.
- The report discusses the market in terms of deployment, security type, applications, and regions.
- Further, the report provides details about the major challenges impacting market growth.
According to the report, the global smart grid security market will grow at a rate of over 8% during the forecast period, 2019-2025.
The market for smart grid security is driven by the rise in demand for efficient power consumption and renewable energy resources across the globe. Integration of innovative and networking technologies along with modernization provides an opportunity for smart grid security market to improve security options. However, diverse guidelines relating to cybersecurity is hampering the market growth.
The growing demand for efficient power consumption and renewable energy resources across the globe are among the key factors driving the market. Continuous development and integration of innovative novel and networking technologies are improving the security measures.
Considering the complexity involved with smart grid due to complex network, there is an increase in the risk factors including security, data confidentiality, and vulnerabilities. This could result in an increased attack by penetrating the network and gaining access over the software and modify load conditions to disrupt the grid, resulting in a rise in demand for smart grid security solutions.
Furthermore, increasing government initiatives toward smart grid technology for digitizing the power sector will steer the growth of the market during the forecast period. This helps in enhanced distribution and usage while reducing transmission loss during power delivery.
According to the smart grid security market analysis, North America accounted for the largest share of the global smart grid security market in 2018. With the presence of the highest number of technology innovators and increasing adoption of smart grid security in this region, it is expected to dominate the market during the forecast period. Asia Pacific region is expected to witness the fastest growth rate due to the increasing need for secure and reliable power supply.
Smart Grid Security Market Segmentation
By Deployment:
- On-premise
- Cloud-based
The cloud segment is expected to have a significant growth rate during the forecast period 2019-2025.
By Security Type:
- Database security
- Application security
- Network security
- Endpoint security
- Others
By Application:
- Smart meters
- Smart application
- Renewable energy resources
- Energy-efficient resources
- Others
Competitive Analysis & Key Vendors
The report covers and analyzes the global smart grid security market. Major vendors across different verticals are increasingly developing products and investments in this market and as a result, the smart grid security market is expected to grow at a decent pace in the coming years.
The key players in the smart grid security market are adopting various organic as well as inorganic growth strategies such as mergers & acquisitions, collaborations & partnerships, joint ventures, and few other strategies to gain the competitive advantage in the market.
Key Vendors
- BAE Systems PLC
- IBM Corporation
- Cisco Systems Inc.
- Intel Corporation
- Siemens AG
- Symantec Corporation
- N-Dimension Solutions
- Elster Solutions
These companies are providing various hardware and software products associated with the smart grid security systems. There are numerous other vendors that have been studied based on the portfolio, geographical presence, marketing & distribution channels, revenue generation, and significant investments in R&D for analysis of the entire ecosystem.
Market Benefits
Factors such as increasing safety and security concerns and the advances in technology in smart devices are positively impacting the demand for smart grid security globally. Recent product launches indicate that this technology is approaching market readiness.
The growing cyber-attacks and other threats on the critical infrastructure are boosting the demand for smart grid security solutions. Global vendors are having a strong presence in the smart grid security market. The other stakeholders in the market are security service providers, utility companies, state government, cloud service provider, resellers, and technology providers.
Key Topics Covered
1 Executive Summary
1.1 Synopsis of Key Findings
2 Industry Outlook
2.1 Overview
2.2 Key Industry Trends
3 Market Snapshot
3.1 Total Addressable Market
3.2 Segmented Addressable Market
3.2.1 PEST Analysis
3.2.2 Porter's Five Force Analysis
3.3 Related Markets
4 Market Characteristics
4.1 Market Evolution
4.1.1 Ecosystem
4.2 Market Trends and Impact
4.3 Value Chain Analysis
4.4 Market Segmentation
4.5 Market Dynamics
4.5.1 Market Drivers
4.5.2 Market Restraints
4.5.3 Market Opportunities
4.5.4 DRO Impact Analysis
5 Smart Grid Security Market By Deployment - Market Size and Analysis
5.1 Overview
5.1.1 On-premise
5.1.2 Cloud-based
6 Smart Grid Security Market By Security Type - Market Size and Analysis
6.1 Overview
6.2 Database
6.3 Application
6.4 Network
6.5 Endpoint
6.6 Others
7 Smart Grid Security Market By Application - Market Size and Analysis
7.1 Smart Meters
7.2 Smart Application
7.3 Renewable Energy Resources
7.4 Energy Efficient Resources
7.5 Others
8 Market Segmentation By Region - Market Size and Analysis
8.1 Overview
8.2 North America
8.2.1 US
8.2.2 Canada
8.3 Europe
8.3.1 UK
8.3.2 Germany
8.3.3 RoE
8.4 APAC
8.4.1 China
8.4.2 Japan
8.4.3 India
8.4.4 RoAPAC
8.5 RoW
8.5.1 MEA
8.5.2 Latin America
9 Competitive Landscape
9.1 Competitor Analysis
9.2 Product/Offerings Portfolio Analysis
9.3 Market Developments
9.3.1 Mergers & Acquisitions (M&A), Expansions, and Partnerships
9.3.2 Business Restructuring
9.3.3 Product Launches & Exhibitions
10 Vendor Profiles
10.1 Alert Enterprise
10.2 BAE Systems PLC
10.3 Cisco Systems Inc.
10.4 Elster Solutions
10.5 IBM Corporation
10.6 Intel Corporation
10.7 Leidos
10.8 Lockheed Martin Corporation
10.9 McAfee LLC
10.10 N-Dimension Solutions
10.11 Siemens AG
10.12 Symantec Corporation
For more information about this report visit https://www.researchandmarkets.com/r/jog9sj
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