Product Code: A270236
According to a new report published by Allied Market Research, titled, "Cyber Security in Energy Sector Market," The cyber security in energy sector market was valued at $8.6 billion in 2022, and is estimated to reach $25 billion by 2032, growing at a CAGR of 11.7% from 2023 to 2032.
Furthermore, cyberattacks on the energy sector can lead to severe consequences, including power outages, environmental damage, and potential national security risks. As a result, the significance of robust cybersecurity measures in the energy industry cannot be overstated, and ongoing efforts to enhance and adapt these measures to progressing threats are essential. In addition, cybersecurity threats and vulnerabilities can change every day and even per hour, hence security measures need to be in the right direction in recent years.
Effective steps to manage cyber risks in the energy sector are unlikely to suffice for long, thus, maintaining security in a wireless environment is challenging for most vendors in the ecosystem. Furthermore, cyber threats not only affect the IT infrastructure of a company but also lead to the disruption of the entire network, which impacts the principal business functions and processes. Moreover, the rise in malware & phishing threats and the surge in the adoption of IoT trends in the energy sector are the major factors driving cyber security in the energy market growth.
However, the constant need to conform to industry standards & regulations of device security acts as a major restraint for the market. The impact of this factor is expected to be nominal due to the introduction of new security techniques in cybersecurity in the energy market. Furthermore, cybersecurity activities are now being prioritized and aligned with strategic business activities to minimize the damage to IT resources, which is expected to provide a remunerative opportunity for the expansion of the global market.
The cyber security in energy sector market is segmented on the basis of component, deployment model, enterprise size, end user, and region. Depending on component, the market is bifurcated into solutions and services. By solution, the market is fragmented into network security, endpoint security, application security, data security, others. By services, the market is segmented into vulnerability assessment, digital risk and threat monitoring, business continuity services, disaster recovery, digital forensics, penetration testing, threat intelligence, security information and event management, implementation and integration services, training and education services, and others. By deployment model, the market is bifurcated into cloud and on-premise. By enterprise size, it is segregated into small and medium-sized enterprises (SMEs) and large enterprises. As per end user, it is classified into industrial, commercial, and residential. By industrial, the market is categorized into oil & gas industry, transmission & distribution, power plants, natural gas plants. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players profiled in the cyber security in energy sector market analysis are Accenture, IBM Corporation, General Electric, Hitachi Energy Ltd., Schneider Electric, ABB, Schweitzer Engineering Laboratories, Inc., Siemens, AT&T, and Eaton Corporation Plc. These players have adopted various strategies, including partnership, collaboration, product launch, and developments to increase their market penetration and strengthen their position in the industry.
KEY BENEFITS FOR STAKEHOLDERS
- The study provides an in-depth analysis of the global cyber security in energy sector market forecast along with the current & future trends to explain the imminent investment pockets.
- information about key drivers, restraints, & opportunities and their impact analysis on global cyber security in energy sector market trends is provided in the report.
- Porter's five forces analysis illustrates the potency of the buyers and suppliers operating in the industry.
- The quantitative analysis of the market from 2022 to 2032 is provided to determine the market potential.
Additional benefits you will get with this purchase are:
- Quarterly Update and* (only available with a corporate license, on listed price)
- 5 additional Company Profile of client Choice pre- or Post-purchase, as a free update.
- Free Upcoming Version on the Purchase of Five and Enterprise User License.
- 16 analyst hours of support* (post-purchase, if you find additional data requirements upon review of the report, you may receive support amounting to 16 analyst hours to solve questions, and post-sale queries)
- 15% Free Customization* (in case the scope or segment of the report does not match your requirements, 15% is equivalent to 3 working days of free work, applicable once)
- Free data Pack on the Five and Enterprise User License. (Excel version of the report)
- Free Updated report if the report is 6-12 months old or older.
- 24-hour priority response*
- Free Industry updates and white papers.
Possible Customization with this report (with additional cost and timeline, please talk to the sales executive to know more)
- Investment Opportunities
- Technology Trend Analysis
- Regulatory Guidelines
- Strategic Recommedations
- Additional company profiles with specific to client's interest
- Additional country or region analysis- market size and forecast
- Criss-cross segment analysis- market size and forecast
- Expanded list for Company Profiles
- Historic market data
- SWOT Analysis
TABLE OF CONTENTS
CHAPTER 1: INTRODUCTION
- 1.1. Report description
- 1.2. Key market segments
- 1.3. Key benefits to the stakeholders
- 1.4. Research methodology
- 1.4.1. Primary research
- 1.4.2. Secondary research
- 1.4.3. Analyst tools and models
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
- 3.1. Market definition and scope
- 3.2. Key findings
- 3.2.1. Top impacting factors
- 3.2.2. Top investment pockets
- 3.3. Porter's five forces analysis
- 3.3.1. Low bargaining power of suppliers
- 3.3.2. Low threat of new entrants
- 3.3.3. Low threat of substitutes
- 3.3.4. Low intensity of rivalry
- 3.3.5. Low bargaining power of buyers
- 3.4. Market dynamics
- 3.4.1. Drivers
- 3.4.1.1. Rise in the occurrence of cyberattacks across the energy sector
- 3.4.1.2. Improved productivity and efficiency
- 3.4.1.3. Surge in demand for cloud-based cybersecurity solutions in the energy sector
- 3.4.2. Restraints
- 3.4.2.1. Complexities of device security
- 3.4.2.2. Budget constraints among start-ups and SMEs
- 3.4.3. Opportunities
- 3.4.3.1. Increase in adoption of smart device applications and platforms in energy sector
- 3.4.3.2. Robust need for strong authentication methods
CHAPTER 4: CYBER SECURITY IN ENERGY SECTOR MARKET, BY COMPONENT
- 4.1. Overview
- 4.1.1. Market size and forecast
- 4.2. Solution
- 4.2.1. Key market trends, growth factors and opportunities
- 4.2.2. Market size and forecast, by region
- 4.2.3. Market share analysis by country
- 4.2.4. Solution Cyber Security in Energy Sector Market by Solution Type
- 4.3. Services
- 4.3.1. Key market trends, growth factors and opportunities
- 4.3.2. Market size and forecast, by region
- 4.3.3. Market share analysis by country
- 4.3.4. Services Cyber Security in Energy Sector Market by Services Type
CHAPTER 5: CYBER SECURITY IN ENERGY SECTOR MARKET, BY DEPLOYMENT MODEL
- 5.1. Overview
- 5.1.1. Market size and forecast
- 5.2. On-Premise
- 5.2.1. Key market trends, growth factors and opportunities
- 5.2.2. Market size and forecast, by region
- 5.2.3. Market share analysis by country
- 5.3. Cloud
- 5.3.1. Key market trends, growth factors and opportunities
- 5.3.2. Market size and forecast, by region
- 5.3.3. Market share analysis by country
CHAPTER 6: CYBER SECURITY IN ENERGY SECTOR MARKET, BY ENTERPRISE SIZE
- 6.1. Overview
- 6.1.1. Market size and forecast
- 6.2. Small and Medium-sized Enterprises (SME)
- 6.2.1. Key market trends, growth factors and opportunities
- 6.2.2. Market size and forecast, by region
- 6.2.3. Market share analysis by country
- 6.3. Large Enterprises
- 6.3.1. Key market trends, growth factors and opportunities
- 6.3.2. Market size and forecast, by region
- 6.3.3. Market share analysis by country
CHAPTER 7: CYBER SECURITY IN ENERGY SECTOR MARKET, BY END USER
- 7.1. Overview
- 7.1.1. Market size and forecast
- 7.2. Industrial
- 7.2.1. Key market trends, growth factors and opportunities
- 7.2.2. Market size and forecast, by region
- 7.2.3. Market share analysis by country
- 7.2.4. Industrial Cyber Security in Energy Sector Market by Industrial Type
- 7.3. Commercial
- 7.3.1. Key market trends, growth factors and opportunities
- 7.3.2. Market size and forecast, by region
- 7.3.3. Market share analysis by country
- 7.4. Residential
- 7.4.1. Key market trends, growth factors and opportunities
- 7.4.2. Market size and forecast, by region
- 7.4.3. Market share analysis by country
CHAPTER 8: CYBER SECURITY IN ENERGY SECTOR MARKET, BY REGION
- 8.1. Overview
- 8.2. North America
- 8.3. Europe
- 8.4. Asia-Pacific
- 8.5. Latin America
- 8.6. Middle East and Africa
CHAPTER 9: COMPETITIVE LANDSCAPE
- 9.1. Introduction
- 9.2. Top winning strategies
- 9.3. Product mapping of top 10 player
- 9.4. Competitive dashboard
- 9.5. Competitive heatmap
- 9.6. Top player positioning, 2022
CHAPTER 10: COMPANY PROFILES
- 10.1. Accenture
- 10.2. IBM Corporation
- 10.3. General Electric
- 10.4. Hitachi Energy Ltd.
- 10.5. Schneider Electric
- 10.6. ABB
- 10.7. Schweitzer Engineering Laboratories, Inc.
- 10.8. Siemens
- 10.9. AT&T
- 10.10. Eaton Corporation plc