The Cloud Security in Energy Sector Market Report 2020- presents competitive environment such as key competitors, key trends, expansions, future trends and acquisitions in the market.
Worldwide “Cloud Security in Energy Sector Market” 2020-2023 market report includes industry peer’s, types, applications, regions analysis and discussion of important industry trends, market size, market share estimates and profiles of the leading industry players. Cloud Security in Energy Sector Market report covers the manufacturers’ data, including: shipment, price, revenue, profit, interview record, business distribution etc., these data help the buyer know about the competitors better.
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The global cloud security market in energy sector is projected to register a CAGR of 9.68% over the forecast period (2018 – 2023). The scope of the report constitutes of solutions offered by major players, including providers of hardware, software, customized products professional services, and integration solutions, either in security-based segments (application, database, etc.), or the on-the-service model type (IaaS, PaaS, and SaaS). The study offers the market insights on the regions considered in the scope of the report (North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa). The study also emphasizes on various deployment channels of the security classified as private, public, or hybrid clouds.
Top Manufacturers Listed in the Cloud Security in Energy Sector Market Report are:
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Detailed Overview about Cloud Security in Energy Sector Market:
Innovation, Equipment Connectivity, and Malware Emergence in the Energy Sector
The energy sector has undergone a wave of innovation and the application of electronic and digital equipment and information technology has allowed it to bring parts of the system together. This synchronization and simulation have allowed the energy sector to use some of the ground-breaking technologies. PLC, SCADA, and DCS have made the operations of collecting data, moving, and controlling machines, valves, actuators, etc. by programs, logical, simple, and something that can be done on a continuous basis. With these devices, interconnectivity has evolved the threats of a security breach. Incidents like the Shamoon malware attacks in November 2016 and January 2019 against Gulf state organizations have made security imperative for the energy sector. The upstream, midstream, and downstream of all the levels in the energy sector have become prone to cyber-attacks and security is the utmost need to avoid any downtime. Any stopping or destruction of the energy sector services can prove catastrophic, as many other industries (chemical and power) are directly or indirectly dependent for their operations on them.
Alongside the increasing connectivity, the number of electronic control units and codes length aligning the processes have increased the complexity of the products. Thus, the concerns for cyber security are on the rise. Furthermore, in the energy sector market, it is difficult to monitor the security policies at every stage as the industry operates on a large scale to reduce the operating cost to revenue ratio. To counter these security risks, cloud security has become an indispensable aspect of the energy sector. Also, the government regulations and evolving industry standards of operations have been instrumental in driving the adoption of cloud security in energy sector market.
Application-related Threats and Security in the Energy Sector
To monitor and control the physical processes across the oil and gas segment, the energy sector applications use operational technology. This is done by acquiring process variable data, such as temperatures, pressures, levels, and valve positions, and further analyzing this data, to automate processes.
This automation of processes or parts becomes possible by means of electric, mechanical, hydraulic, pneumatic actuators, and control valves, getting handled and operated by industrial automation and control systems, such as SCADA, distributed control systems (DCS), programmable logic controllers (PLCs), open platform communication (OPC) servers, and field devices. The applications that control these systems are known to be the most targeted areas, since they are used to control and automate all the operations of factories. Industry 4.0 developments, the pressure to reduce operational expenditure to net sales, coupled with the increased demand for transparency through all the operations of the industry supply chain, industrial automation, and control systems have witnessed robust adoption. This has boosted the security approach, due to the participation of all the stakeholders in the supply chain to safeguard it from any security breach-associated vulnerabilities.
Since these systems control various vital operation and process-related equipment and machinery, from sensors to data acquisition systems, there is a need for resilient security applications to prevent intrusions and breaches. Thus, the need contributes positively to the growth of the application security segment.
Growing Concerns over Cloud Security
The demand for greater accessibility and visibility of products and services used for end users, like apps, creates a range of new vulnerabilities that were previously never faced. Furthermore, the increased collection of customer information (personal and financial) is increasing the susceptibility to a data breach from the attack and thefts in this domain. As the access to internet increases, energy companies are required to effectively manage the security for mobile devices and apps used by workers in the field. Also, with the IoT rise, the data generated from these sensor-driven devices needs be protected as it can also cause the loss of intellectual property. The systematic integration of IT eases the work process load, although it increases the risk to the critical infrastructure. The present aging infrastructure may present compatibility and various other integration issues. Furthermore, this will require improved workforce, trained to recognize and avoid breaches.
Software-based Solutions to Witness the Greatest Adoption
The technology solutions and cloud platforms segment has witnessed substantial growth over the years. It becomes clearer with the perspective of the market players as the cloud segment of the company, IBM Corporation, provides a set of hybrid cloud services, which include assisting clients with building their clouds, like private clouds, thus allowing clients to utilize cloud infrastructure services and create environments linking their private and public workloads together.
Key Developments in the Market
• May 2019 – For the IBM Corporation, the technology solutions and cloud platforms segment accounted for around 44% of the total revenue in 2016. The company continues to capitalize on acquisitions, to broaden, complement, and enhance its product and service offerings, and expand their technology capabilities.
• November 2016 – The Company integrated with complementary businesses, which often contributed entirely new products and services that added to its revenues and profitability. The company focuses on investing in RandD for artificial intelligence, analytics, nanotechnology, secure cloud computing, the blockchain, and advanced computer architectures. It invested close to 7% in RandD.
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Moreover, development policies and plans are discussed as well as manufacturing processes and cost structures. This report also states Cloud Security in Energy Sector market trend, import/export, supply and consumption figures as well as cost, price, revenue and gross margin by regions, and other regions can be added.Cloud Security in Energy Sector market forecast For the period of 2020-2023, this study provides the Cloud Security in Energy Sector sales, revenue and market share for each player covered in this report.
Reasons to Purchase the Cloud Security in Energy Sector Market Report:
– The report analyses how the shift towards safety will drive the global Cloud Security in Energy Sector market.
– Analyzing various perspectives of the market with the help of Porter’s five forces analysis.
– Study on the product type that is expected to dominate the market.
– Study on the regions that are expected to witness fastest Cloud Security in Energy Sector Market growth during the forecast period.
– Identify the latest developments,Cloud Security in Energy Sector market shares and strategies employed by the major market players.
– Analyzing what will be the Cloud Security in Energy Sector Market size.
Major Points from Table of Contents:
1. Introduction1.1 Key Deliverables of the Study1.2 Study Assumptions1.3 Research Methodology2. Executive Summary3. Market Insights3.1 Market Overview3.2 Industry Value Chain Analysis3.3 Industry Attractiveness – Porter’s Five Forces Analysis3.3.1 Bargaining Power of Suppliers3.3.2 Bargaining Power of Consumers3.3.3 Threat of New Entrants3.3.4 Threat of Substitutes3.3.5 Intensity of Competitive Rivalry4. Market Dynamics4.1 Drivers4.1.1 Increased Cyber Attacks and Reported Data Breaches4.1.2 Lower Cost of Ownership on Cloud Infrastructure4.2 Restraints4.2.1 Availability of Open-source Security Software Providers4.2.2 Security and Privacy Breaching Issues5. Global Cloud Security Market in Energy Sector Segmentation5.1 By Service Model5.1.1 IaaS5.1.2 PaaS5.1.3 SaaS5.2 By Deployment5.2.1 Public5.2.2 Private5.2.3 Hybrid5.3 By Security Type5.3.1 Application5.3.2 Database5.3.3 Others5.4 By Geography5.4.1 North America5.4.1.1 United States5.4.1.2 Canada5.4.2 Europe5.4.2.1 United Kingdom5.4.2.2 Germany5.4.2.3 France5.4.2.4 Rest of Europe5.4.3 Asia-Pacific5.4.3.1 China5.4.3.2 India5.4.3.3 Japan5.4.3.4 South Korea5.4.3.5 Rest of Asia-Pacific5.4.4 Latin America5.4.4.1 Brazil5.4.4.2 Mexico5.4.4.3 Argentina5.4.4.4 Rest of Latin America5.4.5 Middle East and Africa5.4.5.1 United Arab Emirates5.4.5.2 Saudi Arabia5.4.5.3 Israel5.4.5.4 Rest of Middle East and Africa5.4.6 Competitive Intelligence – Company Profiles6. TrendMicro6.1 Symplified Inc. (Parent RSA : Parent Dell Technologies)6.2 CA Technologies6.3 McAfee6.4 IBM6.5 Cipher Cloud6.6 Safenet6.7 VMware6.8 Microsoft6.9 Dell6.10 Hewlett Packard Enterprise6.11 Cisco Solutions6.12 Panda Security6.13 Forcepoint (Previously Known as Websence : Parent firm Raytheon)6.14 Checkpoint6.15 Trustwave6.16 Intel Security Group6.17 Porticor Ltd (Acquired by Intuit, New Name: Intuit Data Protection Services)6.18 Fortinet6.19 NetLib Security Inc.6.20 Limelight Networks6.21 Investment Outlook7. Recent Mergers and Acquisitions7.1 Investor Outlook7.2 Future of the Global Cloud Security Market in Energy Sector
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