Energy Security Market worth $67.90 Billion By 2018
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Monday, Sept 22, 2014


Energy Security Market worth $67.90 Billion By 2018

The report "Energy Security Market by Power Plants (Nuclear, Thermal And Hydro, Oil And Gas And Renewable Energy), By Technologies (Physical, Network Security), Professional Services - Global Advancements, Forecasts & Analysis (2013 – 2018)" segments the global energy security market into various sub-segments with in-depth analysis and forecasting of revenues. It also identifies drivers and restraints for this market with insights into trends, opportunities, and challenges. This report has segmented the global energy security by type of power plants: nuclear energy security, oil and gas energy, thermal and hydro power, renewable energy; by type of solutions: physical security solutions, network security solutions; by regions: North America (NA), Asia Pacific (APAC), Europe (EU), Middle East and Africa (MEA) and Latin America (LA).

Increasing terrorist attacks, rise in the sophisticated cyber and network security threats and increasing government pressure for regulatory policies and security compliances are playing a major role in shaping the future of the energy security market. Even though there are security measures being implemented to protect the power plants, but there is no single integrated solution for providing physical as well as network security solutions. The solutions which are currently implemented are in silos. Major Tier1 companies are now providing integrated security solutions and are getting into this escalating market for energy security.

The major forces driving this market are the increased government pressure and security compliance and regulations, threats from terrorist attacks and cyber attacks, lack in comprehensive solution for energy security and physical attacks and insider threats. Companies providing physical security solution and network and cyber security solutions are looking forward to gain a better competitive advantage in this growing market, thereby creating sophisticated security solutions and intelligent and integrated security management platforms for the energy and power plants.

This report expects that the global energy security market is estimated to be $49.27 billion in 2013 and is expected to grow to $67.90 billion in 2018. This represents an estimated Compound Annual Growth Rate (CAGR) of 6.6% from 2013 to 2018. . In the current scenario, the oil and gas energy security continue to be the largest segment, in terms of spending and adoption, for energy security solutions. This is followed by nuclear energy security. In terms of regions, North America is expected to be the biggest market on the basis spending and adoption for energy security solutions. This report further expects that the increasing energy markets in the developing economies and increased extraction and distribution infrastructure will further enhance the growth of the market.

Source : ASDReports - Market Research

Published on ASDNews: Aug 26, 2013

 

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