The growth of the market is governed by various factors such as the growing grid digitalization by advanced technologiesMarket Size – USD 5.97 Billion in 2018, Market Growth - CAGR of 9.9%, Market Trends- Enhanced distribution and usage while reducing transmission loss
The [FURL=https://www.reportsanddata.com/report-detail/smart-grid-security-market]Smart Grid Cyber Security Market[/FURL] 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 Cyber 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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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)
Cloud
On-Premises
Security Type Outlook (Revenue, USD Billion ; 2016-2026)
Network Security
Application Security
Endpoint Security
Database Security
Application Outlook (Revenue, USD Billion ; 2016-2026)
Energy Efficient Resources
Renewable Energy Resources
Smart Meters
Smart Application
Others
To identify the key trends in the industry, click on the link below: [FURL]https://www.reportsanddata.com/report-detail/smart-grid-security-market[/FURL]
Regional Outlook (Revenue, USD Billion ; 2016-2026)
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
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