According to IMARC Group’s latest report, titled “Smart Grid Security: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025,”. Looking forward, IMARC Group expects the global smart grid security market to continue its strong growth during the next five years.
Smart grid security includes solutions and services that are used to secure smart power grids, communications, and information technology (IT) systems. They ensure efficient, cost-effective, and clean distribution of energy throughout the grid. Smart grid security comprises of advanced components and control methods, with integrated communication systems and improved interfaces for measurement and sensing. It utilizes several technological solutions, such as antivirus, antimalware, firewalls, identity, and access management (IAM), encryption, intrusion detection, and data loss prevention (DLP) systems. Various subsystems, including Industrial Control System (ICS), advanced metering infrastructure, and home energy management systems, also help in ensuring efficient smart grid security.
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The growing global consumption for electricity along with the high prevalence of cyberattacks has increased the deployment of smart grid security systems to secure communications across smart grids. Furthermore, the growing adoption of cloud- and web-based applications across various industrial sectors is also accelerating the market growth. The demand is further catalyzed by implementing these security solutions with connected devices for privacy and protection of data and safeguarding the home area network (HAN). Additionally, the integration of Supervisory Control and Data Acquisition (SCADA) systems with the Internet of Things (IoT) is anticipated to drive the smart grid security market.
Smart Grid Security Market 2020-2025 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- AlertEnterprise Inc.
- BAE Systems
- Broadcom Inc.
- Cisco Systems Inc.
- Honeywell International Inc.
- International Business Machines Corporation
- Lockheed Martin Corporation
- N-Dimension Solutions Inc. (IPKeys Power Partners LLC)
- Siemens Aktiengesellschaft
- Sophos Ltd. (Thoma Bravo LLC)
Breakup by Component:
- Antivirus and Antimalware
- Identity and Access Management (IAM)
- Managed Services
- Professional Services
Breakup by Subsystem:
- Demand Response System
- Supervisory Control and Data Acquisition (SCADA)/ Industrial Control System (ICS)
- Home Energy Management System
- Advanced Metering Infrastructure
Breakup by Deployment Type:
Breakup by Security Type:
- Endpoint Security
- Application Security
- Database Security
- Network Security
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Breakup by Region:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
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