GCC Smart Grid Security Market Share, Size, Growth, Opportunity and Forecast 2021-2026

*As the coronavirus disease (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

GCC Smart Grid Security Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026

Market Overview:

The GCC smart grid security market is currently witnessing robust growth. Smart grid security refers to the various solutions and services that are utilized to secure smart power grids, communications, and information technology (IT) systems. It comprises advanced components and control measures that provide an enhanced level of interfaces for measurement and sensing. Smart grid security offers high efficiency, reliability, cost-effectiveness, and an alternative form of clean energy distribution throughout the grid. The system uses technological solutions like antivirus, antimalware, firewalls, identity and access management (IAM), intrusion detection, and data loss prevention (DLP) systems to lower the possibility of power grid collapse or equipment malfunction.

The GCC smart grid security market is primarily driven by the growing demand for electricity and power generation. Besides this, with the rising incidences of cyberattacks, there has been increasing adoption of smart grid security for securing communications and grid deployments in the GCC region. Additionally, the integration of the cloud and web-based applications across different industrial sectors is also catalyzing the market growth. Factors such as the growing population and access to improved and affordable energy systems due to high economic growth in the region have also increased the demand for smart grids, thereby creating a positive outlook for the market. Furthermore, technological advancements in the industry, like the utilization of Supervisory Control and Data Acquisition (SCADA) systems and the Internet of Things (IoT), are positively influencing the market growth. On account of these factors, the market is expected to continue its robust growth during the forecast period (2021-2026).

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the GCC 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.

Breakup by Component:

Solution
- Encryption
- Antivirus and Antimalware
- Identity and Access Management (IAM)
- Firewall
- Others
Services
- Managed Services
- Professional Services
- Others

Breakup by Subsystem:

Demand Response System
Supervisory Control and Data Acquisition (SCADA)/ Industrial Control System (ICS)
Home Energy Management System
Advanced Metering Infrastructure
Others

Breakup by Deployment Type:

Cloud-based
On-premise

Breakup by Security Type:

Endpoint Security
Application Security
Database Security
Network Security
Others

Breakup by Country:

Saudi Arabia
UAE
Qatar
Oman
Kuwait
Bahrain

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players.

Key Questions Answered in This Report:

How has the GCC smart grid security market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the GCC smart grid security market?
What are the key regional markets?
What is the breakup of the market based on the component?
What is the breakup of the market based on the subsystem?
What is the breakup of the market based on the deployment type?
What is the breakup of the market based on the security type?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the GCC smart grid security market and who are the key players?
What is the degree of competition in the industry?