The Global Smart Grid Security Market was valued at USD XX million in 2016, and is expected to grow at a CAGR of 14.6% by 2025.
This market is driven by increasing internet of things (IoT) penetration and in turn rising adoption of smart grids are anticipated to fuel the security systems demand during the forecast period.
Some of the key players operating in this market include Siemens AG, Symantec Corporation, IBM Corporation, Cisco Systems, Inc, Leidos Holdings, Inc, Honeywell International Inc., BAE Systems Plc, N-Dimension Solutions Inc., AlertEnterprise Inc, and Others.
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The smart meters form an important constituent of the system. The installation of these and such smart grids are expected to positively impact the smart grid security market growth during the forecast period. Moreover, the recent attacks on smart grids is expected to increase the adoption of security systems exponentially.
However, the mismatch lifecycles of the IO and OT and differing practices in maintenance, design and qualification are anticipated to create gaps. These gaps can be maliciously exploited and are anticipated to pose threats to the smart grid security market.
The IP standards use in smart grids provide a huge advantage of compatibility between different system components. However, IP use makes the devices inherently vulnerable to many network attacks such as tear drop, denial of services and IP spoofing. Thus, increasing use of IP for connected devices is projected to propel smart grid security market demand.
The smart grid security market is segmented by managed and professional services, of which, professional services account for majority share. The lack of security experts in energy & utility companies and urgent need to address smart grid security threats is expected are fuel the demand for professional grid security providers.
Global Smart Grid Security Market is spread across 121 pages
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The long investment cycles in energy sector and heterogeneous guidelines pertaining to cyber security is anticipated to be the biggest challenge faced by smart grid security market.
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The market is derived through extensive use of secondary, primary, in-house research followed by expert validation and third party perspective like analyst report of investment banks. The secondary research forms the base of our study where we conducted extensive data mining, referring to verified data sources such as white papers government and regulatory published materials, technical journals, trade magazines, and paid data sources.
For forecasting, regional demand & supply factor, investment, market dynamics including technical scenario, consumer behavior, and end use industry trends and dynamics , capacity production, spending were taken into consideration.
We have assigned weights to these parameters and quantified their market impacts using the weighted average analysis to derive the expected market growth rate.
The market estimates and forecasts have been verified through exhaustive primary research with the Key Industry Participants (KIPs) which typically include:
* Original Equipment Manufacturer,
* Component Supplier,
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Table Of Content
1 Executive Summary
2 Methodology And Market Scope
3 Smart Grid Security Market — Industry Outlook
4 Smart Grid Security Market Type Outlook
5 Smart Grid Security Market Application Outlook
6 Smart Grid Security Market Regional Outlook
7 Competitive Landscape
End of the report
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