Smart Grid Security Market Size to Reach USD 747.07 Mn by 2023 Growing at Massive CAGR of 10.73%

The global Smart Grid Security Market research report provides in-depth study of qualitative as well as quantitative aspects of the market by interactions with industry experts, key opinion leaders to gain deeper understanding of the market and industry performance.

Market synopsis:
Smart grid is the integration of traditional power grid with the information technologies such as cloud computing, IoT, connected utilities, smart utilizes among others. This integration has resulted in benefits such as improved availability & distribution of the power across region. Furthermore, it helps achieve an efficient, economical, and clean power distribution. The key drivers for the smart grid security market are increasingly investments to shift country utility infrastructure to smart grid, increased sophistication of cyber-attacks, and growing need to comply with energy generation and consumption regulations and standards. Furthermore, the rise in adoption of Internet of Things (IoT) and digitization in energy sector that has led to increased deployment of web & cloud-based business applications has resulted in the demand for smart grid security solutions.

Prominent Players:
BAE Systems PLC (U.K.), IBM Corporation (U.S.), Cisco Systems, Inc. (U.S.), Intel Corporation (Intel Security) (U.S.), Siemens AG (Germany), Symantec Corporation (U.S.), N-Dimension Solutions (Canada), Elster Solutions (U.S.), Alert Enterprise (U.S.), Leidos (U.S.), Symantec Corporations (US), Lockheed Martin Corporation (US) and McAfee LLC (US).

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Segmental Analysis:
Smart grid security market is segmented based on deployment, security type, application and region.
By deployment, the market is bifurcated into on-premise and cloud.
Based on the security type, the market is segmented into endpoint, network, application, and database.
Based on application, the market is segmented into consumption, generation, and distribution & control.
By region, the market is segmented into North America, Europe, Asia-Pacific and Rest of the World.

Regional analysis:
The global smart grid security market is estimated to grow at a notable rate during the forecast period from 2018 to 2023. The geographical analysis of smart grid security market is done for North America, Europe, Asia-Pacific, and the rest of the world.
North America is expected to dominate the smart grid security market from 2018 to 2023 owing to the presence of advanced utility infrastructure, high concentration of market players in the region, and availability of proficient cyber-security expertise. However, Asia-Pacific is estimated to grow at the highest CAGR during the forecast period owing to shift of traditional grid structure to smart grid by many countries in the region.

Competitive Analysis:
The growth in cyber-attacks on the critical infrastructure in utility organizations boost the demand for smart grid security solutions. Players with global as well as regional presence mark strong presence in the smart grid security market. Key players are adopting strategies such as mergers & acquisitions, partnerships & collaborations, and new product launches to increase their shares in the global smart grid security market. XX% of the total company developments were a part of partnership & collaboration whereas, new product launches and product enhancements accounted for XX% of the total strategic developments adopted by the key players in the market.

Table of Contents
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.1 Research Objectives
2.3 Markets Structure
3 Market Research Methodology
3.1 Research Process
3.2 Secondary Research
3.3 Primary Research
3.4 Forecast Model
3.5 Assumptions & Limitations
4 Market Landscape
4.1 Porter’s Five Forces Analysis
4.1.1 Threat Of New Entrants
4.1.2 Bargaining Power Of Buyers
4.1.3 Threat Of Substitutes
4.1.4 Segment Rivalry
4.2 Value Chain/Supply Chain Of Global Smart Grid Security Market
Continued…..

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Release ID: 484123