What is Smart Grid Security Market?
Smart grid security refers to the protection of users in the worldwide smart grid network from significant cyber-attacks. Because sensitive information is frequently exchanged over communication networks such as the internet, intranets, extranets, and corporate networks, the cybersecurity of the smart grid has been a cause of concern for the power utility industry.
The market study is being classified, by Application (Smart Meters, Smart Wearables, Renewable Energy Resources, Energy Efficient Resources, Electrical household appliances and Others) and major geographies with country level break-up.
BAE Systems PLC (United Kingdom), Schneider Electric (France), Honeywell (United States), IBM Corporation (United States), Cisco Systems, Inc. (United States), Intel Corporation (United States), Siemens AG (Germany), Symantec Corporation (United States), N-Dimension Solutions (Canada), Elster Solutions (United States), Alert Enterprise (United States) and Leidos (United States) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are S&C Electric Company (United States), Landis+Gyr (Switzerland) and Eaton (Ireland).
Smart Grid Security is fiercely competitive, with all competitors competing due to the rise in cyber-attacks on utility companies; critical infrastructure is raising demand for smart grid security solutions. Players having a worldwide and regional presence dominate the smart grid security industry. Smart Grid Security improves customer retention by acquisition, merger, and new security launches to remain competitive in Smart Grid Security Market. Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Smart Grid Security market throughout the predicted period.
Analyst at AMA have segmented the market study of Global Smart Grid Security market by Type, Application and Region.
On the basis of geography, the market of Smart Grid Security has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Increased Sophistication of Cyber-Attacks
- Need to Comply with Standards and Regulations
- Digitization of Smart Meters and Smart Appliances by Leveraging IoT and Cloud
- Lack of Security Awareness among Smart Grid Stakeholders
- Continuous Evolution of Smart Grid
- Increase Usage of Smart Devices
- Long Investment Cycles in the Energy Sector that Makes Technology Assessment Difficult
Market Leaders and some development strategies
On 10 Feb 2021, Landis+Gyr announce the acquisition f Rhebo GmbH to strengthen the cybersecurity system of their Smart Meters. The acquisition will help the company's cybersecurity solution to identify network operators and IoT device makers and neutralize new cyberattacks, espionage operations, manipulation, and technical fault states in real-time before an incident happens.
Key Target AudienceSmart Grid Security Providers, Smart Grid Security Companies, International Traders, IT solution providers, Cloud service providers, Research and Development Institutes, Upstream and Downstream Buyer, Financial Institutes and Investors, Regulatory Bodies and Others
Frequently Asked Questions (FAQ):
1. Which factors would majorly drive the Smart Grid Security Market?
"Increased Sophistication of Cyber-Attacks
" is seen as one of major growth factors of Smart Grid Security Market in years to come.
2. Can we have customized study for Smart Grid Security Market?
The Study can be customized subject to feasibility and data availability. Please connect with our sales representative for further information.
3. Which region will lead the Global Smart Grid Security Market?
will lead the Smart Grid Security Market.