According to a new report published by Allied Market Research, titled, "Utilities Security Market," The utilities security market was valued at $7.3 billion in 2022, and is estimated to reach $31.2 billion by 2032, growing at a CAGR of 15.9% from 2023 to 2032.
Surge in evolving cyber threat and advancements and modernization of technology primarily drive the growth of the utilities security market. However, financial limitations and integration issues hamper market growth to some extent. Moreover, operational resilience is expected to provide lucrative opportunities for market growth during the forecast period.
On the basis of deployment mode, on-premise segment dominated the utilities security market in 2022 and is expected to maintain its dominance in the upcoming years, owing to offer an economical and effective means of establishing connections and developing engagement with a wide-ranging audience propels the market growth significantly. However, the cloud segment is expected to witness the highest growth, owing to organization to quickly adjust to evolving security requirements owing to the scalability and flexibility of cloud-based solutions.
The utilities security market is segmented on the basis of security type, deployment mode, end user, and region. On the basis of security type, it is categorized into physical security, cyber security, and others. On the basis of deployment mode, it is bifurcated into on-premise and cloud. On the basis of end user, it is fragmented into oil & gas, electricity, and other. On the basis of region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players operating in the market include Honeywell International Inc., Cisco Systems, Inc., Thales, Bosch Sicherheitssysteme GmbH, McAfee, LLC, Fortinet, Inc., Schneider Electric, Johnson Controls, IBM, Siemens. Furthermore, it highlights the strategies of the key players to improve the market share and sustain competition.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the utilities security market analysis from 2022 to 2032 to identify the prevailing utilities security market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the utilities security market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global utilities security market trends, key players, market segments, application areas, and market growth strategies.
Additional benefits you will get with this purchase are:
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- Free data Pack on the Five and Enterprise User License. (Excel version of the report)
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- Upcoming/New Entrant by Regions
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- Regulatory Guidelines
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- Additional company profiles with specific to client's interest
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- Historic market data
- Key player details (including location, contact details, supplier/vendor network etc. in excel format)
- Market share analysis of players at global/region/country level
- SWOT Analysis
Key Market Segments
By Deployment Mode
By Security Type
- Physical Security
- Cyber Security
- Others
By End User
- Oil and Gas
- Electricity
- Others
By Region
- North America
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players:
- Schneider Electric
- IBM
- Siemens
- Thales
- Fortinet, Inc.
- Johnson Controls
- Honeywell International Inc.
- Bosch Sicherheitssysteme GmbH
- Cisco Systems, Inc.
- McAfee, LLC