Global Smart Grid Security Market Worth 6.99 Billion USD by 2021
The smart grid security market size is estimated to grow from USD 4.29 Billion in 2016 to USD 7.00 Billion by 2021, at a Compound Annual Growth Rate (CAGR) of 10.3% during the forecast period. 2015 is considered the base year, while the forecast period is 2017–2021.
Request Free Sample Report: www.marketresearchhub.com/enquiry.php?type=S&repid=972140
The major forces driving the Smart Grid Security Market are global development of smart grids and increased sophistication of cyber-attacks. The Smart Grid Security Market is growing rapidly because of the growing security needs of Internet of Things (IoT) and digitization in energy sector and increased deployment of web & cloud-based business applications.
Encryption solution to grow at the highest CAGR from 2016 to 2021
Cyber security solutions are used to secure the data, network infrastructure, and connected devices. The increasing adoption of smart grid has connected number of devices and applications through internet, which are susceptible to Advanced Persistent Threats (APTs). The encryption solution is expected to witness the highest CAGR in the global Smart Grid Security Market during the period 2016-2021. North America is expected to account for the largest market share in 2016, due to the greater awareness of cyber security and early adoption of smart grid security in the region.
Professional services segment to have the largest market size in 2016
The Smart Grid Security Market is also segmented by professional and managed services, out of which the professional services segment is the largest contributor in the services segment. The energy and utility companies lack security experts and are outsourcing these services to security vendors. The demand for professional services is high due to the need to address emerging cyber threats.
North America is expected to dominate the Smart Grid Security Market in 2016
North America is expected to hold the largest share of the Smart Grid Security Market in 2016, due to the technological advancements and early adoption of cyber security in the region. The market in APAC is expected to grow at the highest CAGR between 2016 and 2021. The primary driving forces for this growth are increasing technological adoption and huge opportunities across emerging power industries in APAC countries.
Access Full Report on “Global Smart Grid Security Market” @ http://www.marketresearchhub.com/report/global-smart-grid-security-market-research-report-2017-report.html
This report studies Smart Grid Security in Global market, especially in North America, Europe, China, Japan, Southeast Asia and India, focuses on top manufacturers in global market, with capacity, production, price, revenue and market share for each manufacturer, covering
BAE Systems PLC
Buy this Report @ www.researchmoz.com/checkout?rep_id=972140&licType=S
About Market Research Hub:
Market Research Hub (MRH) is a next-generation reseller of research reports and analysis. MRH’s expansive collection of Market research reports has been carefully curated to help key personnel and decision makers across industry verticals to clearly visualize their operating environment and take strategic steps.
MRH functions as an integrated platform for the following products and services: Objective and sound market forecasts, qualitative and quantitative analysis, incisive insight into defining industry trends, and market share estimates. Our reputation lies in delivering value and world-class capabilities to our clients.
90 State Street,
Albany, NY 12207,
Toll Free: 866-997-4948 (US-Canada)
Follow Us on:
90 State Street
Albany, NY 12207