The global smart grid security market is expected to witness a CAGR of over 8% during the forecast period 2019–2025
Bangalore, India, July 22, 2019: With its recently published study “Global Smart Grid Security Market – Drivers, Restraints, Opportunities, Trends, and Forecast up to 2025”, Infoholic Research estimates that there will be huge adoption of smart grid security solutions, especially in the APAC region owing to the increasing demand for safe and efficient power supply.
The smart grid is a complex network combined with several technologies and communication technologies including cloud computing and IoT to efficiently manage power systems. This complexity enhances security threats and vulnerabilities across the network, resulting in a need for solutions that can minimize such vulnerabilities. Consistent market development and evolving customer needs for efficient energy power supply will further boost the market growth. However, huge initial investment and high installation cost of smart grid security solutions act as major impediments of this market.
Get a sample copy of the report @ https://www.infoholicresearch.com/request-a-sample-report/?repid=14432
Cloud-based deployment of smart grid security solutions is expected to grow significantly during the forecast period as they are cost-effective and easily accessible. This helps in reducing the deployment and integration timeframe of smart grid installation – a characteristic which is much sought after in this highly vulnerable environment.
Further, rising demand for smart grid systems in smart city projects is expected to drive the market growth. The growing number of smart grid projects in the US and high-volume rise in the number of end-users adopting smart metering system is expected to boost the growth of smart grid security market over the forecast period. Key players including Cisco Systems, Inc., N-Dimension Solutions Inc., Elster Solutions, Intel Corporation, IBM Corporation, Oracle, Symantec Corporation, and Siemens AG already have a significant presence in the smart grid security market.
Access Full Report Summary @ https://www.infoholicresearch.com/report/smart-grid-security-market
North America is likely to lead the smart grid security market and will have a significant contribution in terms of revenue due to the high adoption of smart grid security solutions in this region. The growing adoption of smart metering solutions in this region will have a significant contribution to the market.
“Growing complexity in cyber-attacks and the need to fulfill global energy demand will compel the adoption of smart grid security solutions in the upcoming years.” pointed out Rahul Kumar Pandey, Research Analyst, Infoholic Research
Few of the Key Vendors in the Smart Grid Security Market:
- BAE Systems PLC
- Cisco Systems, Inc.
- Elster Solutions
- IBM Corporation
- Intel Corporation
- N-Dimension Solutions
- Siemens AG
- Symantec Corporation
Segmentation of the Report:
Smart Grid Security Market By Deployment
Smart Grid Security Market By Security Type
- Database security
- Application security
- Network security
- Endpoint security
Smart Grid Security Market By Application
- Smart meters
- Smart application
- Renewable energy resources
- Energy efficient resources
Industry outlook: Market trends, drivers, restraints, and opportunities
Ms. Sunanda Ganguli
Infoholic Research LLP