Smart Grid Security Market 2021 Analysis May Set New Growth Story, Forecast to 2027

The Smart Grid Security Market is expected to grow at a CAGR of 9% over the forecast period from 2021 to 2027. Globally, the development of smart grids, increasing sophisticated cyber attacks, and the need to comply with regulations and standards are driving growth. Smart Grid Security Market. The lack of security awareness of smart grid stakeholders is holding back the smart grid security market. The evolution of the smart grid continues to act as an opportunity. Keeping cybersecurity in a timely manner is one of the challenges facing the smart grid security market.

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The smart grid security market ecosystem comprises smart grid security vendors, such as BAE Systems PLC (U.K.), IBM Corporation (U.S.), Cisco Systems, Inc. (U.S.), Intel Corporation (Intel Security) (U.S.), Siemens AG (Germany), Symantec Corporation (U.S.), N-Dimension Solutions (Canada), Elster Solutions (U.S.), AlertEnterprise (U.S.), and Leidos (U.S.); service providers; system integrators; and enterprises. Other stakeholders of the market include security service providers, national/state governments, cloud service providers, utility companies, IT service providers, resellers, enterprise users, and technology providers.

Smart Grid Security Market Segments:

By Solution

• Antivirus and antimalware
• Firewall
• Identity and Access Management (IAM)
• Encryption
• Security and vulnerability management
• Intrusion Detection System/Intrusion Prevention System (IDS/IPS)
• Distributed Denial of Service (DDoS)
• Others (Data Loss Prevention (DLP), incident response, fraud detection, and Security Information and Event Management (SIEM))

By Service

• Professional services
• Consulting
• Education and training
• Support and maintenance
• Managed services

By Deployment Mode

• Cloud
• On-Premises

By Subsystem

• Supervisory Control and Data Acquisition (SCADA)/Industrial Control System (ICS)
• Advanced metering infrastructure
• Demand response
• Home energy management

By Security Type

• Endpoint security
• Network security
• Application security
• Database security

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(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)