The growth of the market is governed by various factors such as the growing grid digitalization by advanced technologies
Market Size – USD 5.97 Billion in 2018, Market Growth – CAGR of 9.9%, Market Trends- Enhanced distribution and usage while reducing transmission loss
The Smart Grid Security Market is expected to reach USD 12.84 Billion by 2026, according to a new report by Reports and Data. Constant development and integration of innovative novel and networking technologies are enhancing the security measures. Acknowledging the complexity associated with smart grid due to complex network, there is an improvement in the risk factors, including data confidentiality, security, and vulnerabilities. This could result in an improved attack by penetrating the network and earning access over the software and transform load conditions to intrude the grid, resulting in a surge in demand for smart grid security solutions. Moreover, rising government initiatives for digitizing the power sector toward smart grid technology will propel the growth of the market during the forecast period. This helps in improved distribution and usage while decreasing transmission loss during power transmission.
The market in the Asia Pacific region is anticipated to witness the highest CAGR of 10.3% during the forecast period. The rising government support and desirable policies are propelling market growth. Upcoming smart city plans in emerging regions are anticipated to offer an opportunity during the forecast period.
The Key players in the Smart Grid Market include Cisco Systems, Inc., BAE Systems PLC, Intel Security (Mcafee), Siemens AG, Symantec Corporation, IBM Corporation, N-Dimension Solutions, Inc., Elster Solutions, Alertenterprise, Leidos.
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Further key findings from the report suggest
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/smart-grid-security-market
For the purpose of this study, Reports and Data have segmented the market on the basis of Deployment, Security Type, Application, and region:
Deployment Outlook (Revenue, USD Billion ; 2016-2026)
Security Type Outlook (Revenue, USD Billion ; 2016-2026)
Application Outlook (Revenue, USD Billion ; 2016-2026)
Regional Outlook (Revenue, USD Billion ; 2016-2026)
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Table of Content:
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2018-2026
Chapter 3. Indicative Metrics
Chapter 4. Smart Grid Security Market Segmentation & Impact Analysis
4.1. Smart Grid Security Market Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
18.104.22.168. Rising incidences of cyber-attacks
22.214.171.124. Growing population leads to rising energy consumption
4.2.3. Market restraints analysis
126.96.36.199. High investment cost
4.3. Technological Insights
4.4. Regulatory Framework
4.5. ETOP Analysis
4.6. Porter’s Five Forces Analysis
4.7. Competitive Metric Space Analysis
4.8. Price trend Analysis
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