Skip to main content

Smart Grid Security Market: Industry Analysis And Detailed Profiles Of Top Industry Players

Some of the prominent participants in the global Smart Grid Security Market are Intel Corporation, Siemens AG, Symantec Corporation, IBM Corporation, Cisco Systems, Inc, Leidos Holdings, Inc., Honeywell International Inc., BAE Systems Plc., N-Dimension Solutions Inc., and AlertEnterprise Inc.

At present, the global smart grid security market is fragmented and is characterized by the presence of numerous diversified local, regional, and international vendors who offer various services to the power utilities. However, in many countries, the market is dominated only by the local or regional vendors. This in turn, will predictably heat up competition in the market in upcoming years.


A report by Transparency Market Research predicts the global smart grid security market to progress at a healthy CAGR of 10.5% during the period between 2017 and 2025 to become worth US$10.58 bn by 2025 from US$4.35 bn in 2016.

Digitization of Grid Systems Drives North America Market

Depending upon the type of security, the global market for smart grid security can be segregated into application security, database security, network security, and endpoint security. Network security of smart grid security, of them, accounts for maximum share in the market and going forward too is expected to see impressive growth. Network security comprises of the approaches and practices received to monitor and prevent unauthorized access, modification, misuse or denial of a network accessible resources and computer network.


Geography-wise, the key segments of the global smart grid security market are North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. At present, North America accounts for maximum share in the market and going forward too is slated to expand at a healthy clip. In 2016, the North America market accounted for a share of 38.7%. The infrastructure in the region is gradually shifting toward digitalization of grid systems, especially for commercial usage, which is anticipated to propel the market for smart grid security over the forecast period. The U.S., in North America, holds maximum market share.

Efforts to Modernize Smart Grids Catalyze Market Growth

One of the major drivers of the global smart grid security market is obviously the thrust on modernizing the power grids, worldwide on account of the swift pace of urbanization and the resultant demand for more power. Smart grid systems benefit consumers, grid operators, and suppliers by improving control over electricity consumption and distribution. However, smart grids are highly susceptible to more and more sophisticated cyber-attacks. This has spawned the demand for smart grid security. Explains the lead analyst of the report, “The smart grid security market is expanding at a rapid pace because of the rising security needs resulting from the uptake of modern technologies such as the Internet of Things (IoT), along with digitalization of the energy sector and increased adoption of the web and cloud-based business applications.”


One of the major challenges facing the global smart grid security market, on the other hand, is the protracted investment cycles in the energy sector that makes technology assessment challenging and results in a time lag between implemented and up-to-date solutions.


Comments

Post a Comment

Popular posts from this blog

Global Thin Wafer Processing and Dicing Equipment Market - A cutting-edge technology, industry survey and new business opportunities 2024

Global Thin Wafer Processing and Dicing Equipment Market: Overview Rising demand for three dimensional integrated circuit used extensively across various miniature semiconductor devices is one of the important factor anticipated to boost the demand for thin wafer processing and dicing equipment in the coming years. Three dimensional integrated circuit are increasingly adopted across various space constrained applications including portable consumer electronic devices, sensors, MEMS and industrial products as it increases the overall performance of the products in terms of speed, durability, low power consumption, light weight and memory. Moreover, three dimensional integrated circuit also helps to reduce the area of consumption in a printed circuit board and in turn enables extensive cost reduction. Thin wafer of thickness 20 um – 50 um is an integral part of the three dimensional integrated circuit technology. Thus, anticipated increasing demand for three dimensional integra...
1 comment
Read more

Automotive Valves Market to Showcase Continued Growth in the Coming Years

The global  automotive valves market  is anticipated to be pampered by the soaring demand for automobiles underlining the significance of the valves in evaluating their performance. Automobiles equipped with ecofriendly and advanced engines being highly demanded are envisioned to subsequently benefit the growth of the market. Owing to the inclination of consumers toward electric automobiles, solenoid valves could welcome a growing demand in the market. The electrification of automobiles, introduction of sophisticated technology, and increased manufacturing are projected to be crucial factors important for the growth of the market. New government regulations enforced on automobile manufacturers for safeguarding the environment could augment the demand for automotive valves with the production of efficient and environment-friendly automobiles. Request A Sample Report @  https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=30977 The global a...
Post a Comment
Read more

RFID Tags Market is Expected to Grow at the Highest CAGR During the Forecast Period

Key players in the  U.S. RFID tags market  are Atmel Corporation, HID USA Corporation, Invengo Information Technology Ltd. Co., and NXP Semiconductors N.V. Competition among them and among other players are expected to heat up further over the course of next few years as they try to expand their market shares both via the inorganic route of mergers and acquisitions and organic route of product development and diversification. A report on the market published by Transparency Market Research finds that it would rise at an 8.5% CAGR over the course of the forecast period starting from 2017 and ending in 2025. At this pace, the market which was valued at US$809.4 mn in 2016, will likely become worth US$1,672.5 mn by 2025-end. Get PDF Sample of This Report @  https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=24536 The two types of RFID tags available in the market are active and passive tags. Between the two, the demand for passive RFI...
Post a Comment
Read more