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The Europe smart grid security market is currently witnessing robust growth. A smart grid is a digital infrastructure that monitors grid conditions, energy consumption and generation, as well as automates the operations. Smart grid security offers various solutions and services that help secure smart power grids, communications, and information technology (IT) systems. It also facilitates a stable and reliable power system operation during contingency situations in case of any critical power system component failure.
The Europe smart grid security market is primarily driven by the rising adoption of smart grids by the regional governments to reduce carbon emissions. The market is further driven by the increasing adoption of smart meters as an essential component of national energy policies as they help minimize carbon footprints and improve overall efficiency. For instance, the European Union (EU) has set a target for cutting greenhouse gases by 20% and meeting its energy needs through the use of renewable energy sources. This is likely to increase the adoption of smart grids, thereby propelling the growth of the market. Furthermore, technology innovations have improved the reliability, efficiency, and security features of power grids. On account of these factors, the market is expected to continue its robust growth during the forecast period (2021-2026).
IMARC Group provides an analysis of the key trends in each sub-segment of the Europe smart grid security market report, along with forecasts for growth at the region level from 2021-2026. Our report has categorized the market based on region, component, subsystem, deployment type and security type.
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The competitive landscape of the industry has also been examined along with the profiles of the key players.
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