Global Utilities Security Market Size study, by Deployment Mode (On-premise, Cloud), by Security Type (Physical Security, Cyber Security, Others), by End User (Oil and Gas, Electricity, Others) and Regional Forecasts 2022-2032

Global Utilities Security Market Size study, by Deployment Mode (On-premise, Cloud), by Security Type (Physical Security, Cyber Security, Others), by End User (Oil and Gas, Electricity, Others) and Regional Forecasts 2022-2032

Global Utilities Security Market is valued approximately at USD 8.47 billion in 2023 and is anticipated to grow with a healthy growth rate of more than 15.98% over the forecast period 2024-2032. Utilities Security focuses on protecting essential infrastructure within the utilities sector from a variety of physical and cyber threats. It encompasses the development and implementation of security services and solutions designed to ensure the safe and uninterrupted operation of critical utilities such as gas, water, and electricity supply systems. As utility infrastructures become more susceptible to advanced threats, the market aims to provide comprehensive security solutions to maintain the reliability of vital services and prevent potential disruptions.

The Global Utilities Security Market is driven by increasing sophistication of cyberattacks targeting utility networks. As utilities adopt smart technologies and undergo digital transformation, robust cybersecurity measures become crucial. Additionally, regulatory compliance plays a vital role, compelling utilities to adhere to stringent security standards to mitigate operational and legal risks. Moreover, expansion of energy demand into emerging markets is anticipated to create lucrative opportunities for the market. However, financial limitations that hinder some utilities from investing heavily in security measures, and integration challenges that require careful planning and execution to incorporate security solutions into existing infrastructure effectively.

The key regions considered for the Global Utilities Security Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. In 2023, North America dominated the utilities security market and is projected to maintain its leading position throughout the forecast period. This is due to the heightened demand for robust security measures to protect critical infrastructure and assets within the utilities sector, including power plants, substations, transmission lines, and distribution networks. Furthermore, Asia Pacific is expected to witness significant growth during the forecast period, driven by the increased adoption of smart grid technologies and the integration of renewable energy sources, which are anticipated to propel market growth in this region.

Major market players included in this report are:

Johnson Controls

Cisco Systems, Inc

Honeywell International Inc.

Bosch Sicherheitssysteme GmbH

IBM

McAfee, LLC

Thales

Fortinet, Inc.

Schneider Electric

Siemens AG

The detailed segments and sub-segment of the market are explained below:

By Deployment Mode:
• On-premise
• Cloud

By Security Type:
• Physical Security
• Cyber Security
• Others

By End User:
• Oil and Gas
• Electricity
• Others

By Region:

North America
• U.S.
• Canada

Europe
• UK
• Germany
• France
• Spain
• Italy
• ROE

Asia Pacific
• China
• India
• Japan
• Australia
• South Korea
• RoAPAC

Latin America
• Brazil
• Mexico
• RoLA

Middle East & Africa
• Saudi Arabia
• South Africa
• RoMEA

Years considered for the study are as follows:
• Historical year – 2022
• Base year – 2023
• Forecast period – 2024 to 2032

Key Takeaways:
• Market Estimates & Forecast for 10 years from 2022 to 2032.
• Annualized revenues and regional level analysis for each market segment.
• Detailed analysis of geographical landscape with Country level analysis of major regions.
• Competitive landscape with information on major players in the market.
• Analysis of key business strategies and recommendations on future market approach.
• Analysis of competitive structure of the market.
• Demand side and supply side analysis of the market

Please note:The single user license is non-downloadable and non-printable. Global Site license allows these actions.