Global Smart Grid Cyber Security Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast: 2019–2028

“Global Smart Grid Cyber Security Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by MarketResearch.biz. The global smart grid cyber security market report has been segmented on the basis of type, deployment, function, and region.

Request Covid - 19 Impact

Global Smart Grid Cyber Security Market: Overview

Smart grid cybersecurity is used as a medium to protect system from cyber-attacks such as a denial of service attacks, which has bad impact on users in the smart grid network across the globe. The smart grid is known as a digital structure that is fixed on the top of the existing available electrical grid. This helps to examine energy usage and grid condition. A secure and good reliable smart grid systems offer protective ways in order to enhance the security structure.

Global Smart Grid Cyber Security Market: Dynamics

Increasing technological advancement and growing demand for energy across the globe are major factors expected to drive growth of the global smart grid cyber security market. In addition, governments of various emerging countries are using grid operations and services in order to use the advanced technologies and to fulfill the rising energy need, owing to rapid growth in industrialization. In addition, smart grids offer stronger control over the functions in order to enhance reliability is another factor expected to drive growth of the global smart grid cyber security market.

Moreover, increasing governments initiatives and policies to enhance power infrastructure and increasing number of cyber-attacks on national infrastructure around the globe are factors anticipated to drive growth of the smart grid cyber security market. Furthermore, rising demand for securing home area network from cyber threats, availability of governments rules and regulations to ensure the standard of security, and high usage of connected devices in smart grid network have resulted into high adoption of smart grid cyber security system. These are factors estimated to drive growth of the global smart grid cyber security market.

However, lack of awareness about smart grid cybersecurity system is a factor anticipated to hamper growth of the global smart grid cybersecurity. In addition, maintenance requirement on a regular basis for smart grid cybersecurity is another factor estimated to hinder growth of the global smart grid cyber security market.

Global Smart Grid Cyber Security Market: Segment Analysis

Among the type segments, the network security segment is expected to dominate in the global smart grid cyber security market with major share in terms of revenue. Increasing cyber-attacks on critical infrastructure is a major factor expected to drive revenue growth of the network security segment in the global smart grid cyber security market. The application security segment is expected to register significant growth in recent years, owing to growing trend of Internet of Things, smart grid, connected devices, and various web-based applications.

Global Smart Grid Cyber Security Market: Region Analysis

North America market is estimated to account for highest revenue share in the global smart grid cyber security market. Increasing technological advancement has resulted in digitalization of grid systems is major factor expected to drive growth of the global target market in North America. In addition, presence of well-established key players in countries in this region is another major factor expected to drive growth of the target market in North America.

Global Smart Grid Cyber Security Segmentation:

Segmentation by Type:

• Network Security
• Endpoint Security
• Application Security
• Database Security

Segmentation by Deployment:

• On-Premise
• Cloud

Segmentation by Function:

• SCADA/ICS
• Advanced Metering Infrastructure
• Demand Response
• Home Energy Management

Segmentation by Region:

• North America
• Latin America
• Europe
• Asia Pacific
• Middle East & Africa