Smart Grid Security Market 2020: Share Leaders, Current Status by Major Key vendors and Trends by Forecast to 2023
Overview:
The fortification of traditional power grids is predicted to enhance the smart grid security market 2020. The ICT industry reports are produced by Market Research Future, which highlights market options for expansion. A revenue level of USD 747.07 Million is projected by 2023, with the backing of a CAGR of 10.73%.
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The need to enhance availability & allotment of power is predicted to bolster the smart grid security industry in the forecast period. The rise in funding to alter utility infrastructure to the smart grid is projected to enhance the smart grid security market.
Segmentation:
The segmental scrutiny of the smart grid security market is conducted based on security type, application, deployment, and region. The application-based segmentation of the smart grid security market is segmented into generation, consumption, distribution and control. Based on the deployments, the smart grid security market is bifurcated into the cloud and on-premise. On the basis of regions, the smart grid security market is segmented into North America, Europe, Asia-Pacific, and the Rest of the regions in the world. Based on the security types, the smart grid security market is segmented into endpoint, network, application, and database.
Regional Analysis:
The regional examination of the smart grid security market consists North America, Europe, Asia-Pacific, and the Rest of the regions in the world. The regional markets in smart grid security market are anticipated to develop at an outstanding rate in the forecast period from 2018 to 2023. The North American regional market is likely to lead the smart grid security market as of 2018 to 2023 due to the incidence of highly developed utility infrastructure, elevated concentration of market players in the region, and accessibility of accomplished cyber-security knowledge. Nonetheless, the region of Asia-Pacific is anticipated to develop at the maximum CAGR throughout the forecast period due to alteration in conventional grid structure to the smart grid by many nations in the region.
Key Players:
The notable contender working in the smart grid security market are IBM Corporation (U.S.), N-Dimension Solutions (Canada), Cisco Systems, Inc. (U.S.), BAE Systems PLC (U.K.), Elster Solutions (U.S.), Intel Corporation (Intel Security) (U.S.), Lockheed Martin Corporation (U.S.), Siemens AG (Germany), Symantec Corporation (U.S.), Alert Enterprise (U.S.), Leidos (U.S.), Symantec Corporations (U.S.), and McAfee LLC (U.S.).
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