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Press Release:

Global Smart Grid Security Market to Grow at 12.3% During 2022-2027, Propelled by Technological Innovations

COVID-19
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Smart Grid Security Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Market Overview:

The global smart grid security market reached a value of US$ 7.1 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 14.3 Billion by 2027, exhibiting at a CAGR of 12.3% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.

Smart grid security refers to various solutions and services that are used to secure smart power grids, communications and information technology (IT) systems. It ensures that there is efficient, reliable, cost-effective and clean distribution of energy throughout the grid. It consists of advanced components and control methods and integrated communications systems with improved interfaces for measurement and sensing. It employs various technological solutions, such as antivirus, antimalware, firewalls, identity and access management (IAM), encryption, intrusion detection and data loss prevention (DLP) systems. Various subsystems, including Industrial Control System (ICS), advanced metering infrastructure and home energy management systems, are also used to ensure efficient smart grid security.

The rising demand for electricity and power generation in both developed and developing countries, and the increasing incidences of cyberattacks, currently represent as the key factors driving the growth of the market. This has led to the widespread adoption of smart grid security systems to secure communications and smart grid deployments. Furthermore, increasing utilization of cloud- and web-based applications across various industrial sectors is also providing a boost to the market growth. Consumers are implementing these security solutions with their connected devices to safeguard the home area network (HAN) and ensure the privacy and protection of data. Additionally, various technological advancements, such as the integration of Supervisory Control and Data Acquisition (SCADA) systems with the Internet of Things (IoT), are creating a positive outlook for the market. Other factors, including rapid urbanization, along with the implementation of favorable government initiatives to digitize the power sector with smart grid technologies, are projected to drive the market further.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global smart grid security market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on 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 Region:

  • North America
    • United States
    • Canada
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Russia
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Others
  • Middle East and Africa


Competitive Landscape:

The report has also analysed the competitive landscape of the market with some of the key players being AlertEnterprise Inc., BAE Systems, Broadcom Inc., Cisco Systems Inc., Honeywell International Inc., International Business Machines Corporation, Leidos, Lockheed Martin Corporation, N-Dimension Solutions Inc. (IPKeys Power Partners LLC), Siemens Aktiengesellschaft, Sophos Ltd. (Thoma Bravo LLC), etc.

Report Coverage:

Report Features Details
Base Year of the Analysis 2021
Historical Period 2016-2021
Forecast Period 2022-2027
Units US$ Billion
Segment Coverage Component, Subsystem, Deployment Type, Security Type, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered AlertEnterprise Inc., BAE Systems, Broadcom Inc., Cisco Systems Inc., Honeywell International Inc., International Business Machines Corporation, Leidos, Lockheed Martin Corporation, N-Dimension Solutions Inc. (IPKeys Power Partners LLC), Siemens Aktiengesellschaft and Sophos Ltd. (Thoma Bravo LLC)
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

1   Preface
2   Scope and Methodology 
    2.1    Objectives of the Study
    2.2    Stakeholders
    2.3    Data Sources
        2.3.1    Primary Sources
        2.3.2    Secondary Sources
    2.4    Market Estimation
        2.4.1    Bottom-Up Approach
        2.4.2    Top-Down Approach
    2.5    Forecasting Methodology
3   Executive Summary
4   Introduction
    4.1    Overview
    4.2    Key Industry Trends
5   Global Smart Grid Security Market
    5.1    Market Overview
    5.2    Market Performance
    5.3    Impact of COVID-19
    5.4    Market Forecast
6   Market Breakup by Component
    6.1    Solution
        6.1.1 Market Trends
        6.1.2 Major Types
            6.1.2.1 Encryption
            6.1.2.2 Antivirus and Antimalware
            6.1.2.3 Identity and Access Management (IAM)
            6.1.2.4 Firewall
            6.1.2.5 Others
        6.1.3 Market Forecast
    6.2    Services
        6.2.1 Market Trends
        6.2.2 Major Types
            6.2.2.1 Managed Services
            6.2.2.2 Professional Services
            6.2.2.3 Others
        6.2.3 Market Forecast
7   Market Breakup by Subsystem
    7.1    Demand Response System
        7.1.1 Market Trends
        7.1.2 Market Forecast
    7.2    Supervisory Control and Data Acquisition (SCADA)/ Industrial Control System (ICS)
        7.2.1 Market Trends
        7.2.2 Market Forecast
    7.3    Home Energy Management System
        7.3.1 Market Trends
        7.3.2 Market Forecast
    7.4    Advanced Metering Infrastructure
        7.4.1 Market Trends
        7.4.2 Market Forecast
    7.5    Others
        7.5.1 Market Trends
        7.5.2 Market Forecast
8   Market Breakup by Deployment Type
    8.1    Cloud-based
        8.1.1 Market Trends
        8.1.2 Market Forecast
    8.2    On-premise
        8.2.1 Market Trends
        8.2.2 Market Forecast
9   Market Breakup by Security Type
    9.1    Endpoint Security
        9.1.1 Market Trends
        9.1.2 Market Forecast
    9.2    Application Security
        9.2.1 Market Trends
        9.2.2 Market Forecast
    9.3    Database Security
        9.3.1 Market Trends
        9.3.2 Market Forecast
    9.4    Network Security
        9.4.1 Market Trends
        9.4.2 Market Forecast
    9.5    Others
        9.5.1 Market Trends
        9.5.2 Market Forecast
10  Market Breakup by Region
    10.1    North America
        10.1.1 United States
           10.1.1.1 Market Trends
           10.1.1.2 Market Forecast
        10.1.2 Canada
           10.1.2.1 Market Trends
           10.1.2.2 Market Forecast
    10.2    Asia Pacific
        10.2.1 China
           10.2.1.1 Market Trends
           10.2.1.2 Market Forecast
        10.2.2 Japan
           10.2.2.1 Market Trends
           10.2.2.2 Market Forecast
        10.2.3 India
           10.2.3.1 Market Trends
           10.2.3.2 Market Forecast
        10.2.4 South Korea
           10.2.4.1 Market Trends
           10.2.4.2 Market Forecast
        10.2.5 Australia
           10.2.5.1 Market Trends
           10.2.5.2 Market Forecast
        10.2.6 Indonesia
           10.2.6.1 Market Trends
           10.2.6.2 Market Forecast
        10.2.7 Others
           10.2.7.1 Market Trends
           10.2.7.2 Market Forecast
    10.3    Europe
        10.3.1 Germany
           10.3.1.1 Market Trends
           10.3.1.2 Market Forecast
        10.3.2 France
           10.3.2.1 Market Trends
           10.3.2.2 Market Forecast
        10.3.3 United Kingdom
           10.3.3.1 Market Trends
           10.3.3.2 Market Forecast
        10.3.4 Italy
           10.3.4.1 Market Trends
           10.3.4.2 Market Forecast
        10.3.5 Spain
           10.3.5.1 Market Trends
           10.3.5.2 Market Forecast
        10.3.6 Russia
           10.3.6.1 Market Trends
           10.3.6.2 Market Forecast
        10.3.7 Others
           10.3.7.1 Market Trends
           10.3.7.2 Market Forecast
    10.4    Latin America
        10.4.1 Brazil
           10.4.1.1 Market Trends
           10.4.1.2 Market Forecast
        10.4.2 Mexico
           10.4.2.1 Market Trends
           10.4.2.2 Market Forecast
        10.4.3 Others
           10.4.3.1 Market Trends
           10.4.3.2 Market Forecast
    10.5    Middle East and Africa
        10.5.1 Market Trends
        10.5.2 Market Breakup by Country
        10.5.3 Market Forecast
11  SWOT Analysis
    11.1    Overview
    11.2    Strengths
    11.3    Weaknesses
    11.4    Opportunities
    11.5    Threats
12  Value Chain Analysis
13  Porters Five Forces Analysis
    13.1    Overview
    13.2    Bargaining Power of Buyers
    13.3    Bargaining Power of Suppliers
    13.4    Degree of Competition
    13.5    Threat of New Entrants
    13.6    Threat of Substitutes
14  Competitive Landscape
    14.1    Market Structure
    14.2    Key Players
    14.3    Profiles of Key Players
        14.3.1    AlertEnterprise Inc.
           14.3.1.1 Company Overview
           14.3.1.2 Product Portfolio 
        14.3.2    BAE Systems
           14.3.2.1 Company Overview
           14.3.2.2 Product Portfolio
           14.3.2.3 Financials 
           14.3.2.4 SWOT Analysis
        14.3.3    Broadcom Inc.
           14.3.3.1 Company Overview
           14.3.3.2 Product Portfolio 
           14.3.3.3 Financials 
           14.3.3.4 SWOT Analysis
        14.3.4    Cisco Systems Inc.
           14.3.4.1 Company Overview
           14.3.4.2 Product Portfolio 
           14.3.4.3 Financials 
           14.3.4.4 SWOT Analysis
        14.3.5    Honeywell International Inc.
           14.3.5.1 Company Overview
           14.3.5.2 Product Portfolio 
           14.3.5.3 Financials 
           14.3.5.4 SWOT Analysis
        14.3.6    International Business Machines Corporation
           14.3.6.1 Company Overview
           14.3.6.2 Product Portfolio 
           14.3.6.3 Financials 
           14.3.6.4 SWOT Analysis
        14.3.7    Leidos
           14.3.7.1 Company Overview
           14.3.7.2 Product Portfolio
           14.3.7.3 Financials 
           14.3.7.4 SWOT Analysis
        14.3.8    Lockheed Martin Corporation
           14.3.8.1 Company Overview
           14.3.8.2 Product Portfolio 
           14.3.8.3 Financials 
           14.3.8.4 SWOT Analysis
        14.3.9    N-Dimension Solutions Inc (IPKeys Power Partners LLC)
           14.3.9.1 Company Overview
           14.3.9.2 Product Portfolio
        14.3.10    Siemens Aktiengesellschaft
           14.3.10.1 Company Overview
           14.3.10.2 Product Portfolio 
           14.3.10.3 Financials 
           14.3.10.4 SWOT Analysis
        14.3.11    Sophos Ltd (Thoma Bravo LLC)
           14.3.11.1 Company Overview
           14.3.11.2 Product Portfolio 
           14.3.11.3 Financials 

List of Figures

Figure 1: Global: Smart Grid Security Market: Major Drivers and Challenges
Figure 2: Global: Smart Grid Security Market: Sales Value (in Billion US$), 2016-2021
Figure 3: Global: Smart Grid Security Market: Breakup by Component (in %), 2021
Figure 4: Global: Smart Grid Security Market: Breakup by Subsystem (in %), 2021
Figure 5: Global: Smart Grid Security Market: Breakup by Deployment Type (in %), 2021
Figure 6: Global: Smart Grid Security Market: Breakup by Security Type (in %), 2021
Figure 7: Global: Smart Grid Security Market: Breakup by Region (in %), 2021
Figure 8: Global: Smart Grid Security Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 9: Global: Smart Grid Security (Solution) Market: Sales Value (in Million US$), 2016 & 2021
Figure 10: Global: Smart Grid Security (Solution) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 11: Global: Smart Grid Security (Services) Market: Sales Value (in Million US$), 2016 & 2021
Figure 12: Global: Smart Grid Security (Services) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 13: Global: Smart Grid Security (Demand Response System) Market: Sales Value (in Million US$), 2016 & 2021
Figure 14: Global: Smart Grid Security (Demand Response System) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 15: Global: Smart Grid Security (Supervisory Control and Data Acquisition (SCADA)/ Industrial Control System) Market: Sales Value (in Million US$), 2016 & 2021
Figure 16: Global: Smart Grid Security (Supervisory Control and Data Acquisition (SCADA)/ Industrial Control System) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 17: Global: Smart Grid Security (Home Energy Management System) Market: Sales Value (in Million US$), 2016 & 2021
Figure 18: Global: Smart Grid Security (Home Energy Management System) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 19: Global: Smart Grid Security (Advanced Metering Infrastructure) Market: Sales Value (in Million US$), 2016 & 2021
Figure 20: Global: Smart Grid Security (Advanced Metering Infrastructure) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 21: Global: Smart Grid Security (Other Subsystems) Market: Sales Value (in Million US$), 2016 & 2021
Figure 22: Global: Smart Grid Security (Other Subsystems) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 23: Global: Smart Grid Security (Cloud-based) Market: Sales Value (in Million US$), 2016 & 2021
Figure 24: Global: Smart Grid Security (Cloud-based) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 25: Global: Smart Grid Security (On-premise) Market: Sales Value (in Million US$), 2016 & 2021
Figure 26: Global: Smart Grid Security (On-premise) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 27: Global: Smart Grid Security (Endpoint Security) Market: Sales Value (in Million US$), 2016 & 2021
Figure 28: Global: Smart Grid Security (Endpoint Security) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 29: Global: Smart Grid Security (Application Security) Market: Sales Value (in Million US$), 2016 & 2021
Figure 30: Global: Smart Grid Security (Application Security) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 31: Global: Smart Grid Security (Database Security) Market: Sales Value (in Million US$), 2016 & 2021
Figure 32: Global: Smart Grid Security (Database Security) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 33: Global: Smart Grid Security (Network Security) Market: Sales Value (in Million US$), 2016 & 2021
Figure 34: Global: Smart Grid Security (Network Security) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 35: Global: Smart Grid Security (Other Security Types) Market: Sales Value (in Million US$), 2016 & 2021
Figure 36: Global: Smart Grid Security (Other Security Types) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 37: North America: Smart Grid Security Market: Sales Value (in Million US$), 2016 & 2021
Figure 38: North America: Smart Grid Security Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 39: United States: Smart Grid Security Market: Sales Value (in Million US$), 2016 & 2021
Figure 40: United States: Smart Grid Security Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 41: Canada: Smart Grid Security Market: Sales Value (in Million US$), 2016 & 2021
Figure 42: Canada: Smart Grid Security Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 43: Asia Pacific: Smart Grid Security Market: Sales Value (in Million US$), 2016 & 2021
Figure 44: Asia Pacific: Smart Grid Security Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 45: China: Smart Grid Security Market: Sales Value (in Million US$), 2016 & 2021
Figure 46: China: Smart Grid Security Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 47: Japan: Smart Grid Security Market: Sales Value (in Million US$), 2016 & 2021
Figure 48: Japan: Smart Grid Security Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 49: India: Smart Grid Security Market: Sales Value (in Million US$), 2016 & 2021
Figure 50: India: Smart Grid Security Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 51: South Korea: Smart Grid Security Market: Sales Value (in Million US$), 2016 & 2021
Figure 52: South Korea: Smart Grid Security Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 53: Australia: Smart Grid Security Market: Sales Value (in Million US$), 2016 & 2021
Figure 54: Australia: Smart Grid Security Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 55: Indonesia: Smart Grid Security Market: Sales Value (in Million US$), 2016 & 2021
Figure 56: Indonesia: Smart Grid Security Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 57: Others: Smart Grid Security Market: Sales Value (in Million US$), 2016 & 2021
Figure 58: Others: Smart Grid Security Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 59: Europe: Smart Grid Security Market: Sales Value (in Million US$), 2016 & 2021
Figure 60: Europe: Smart Grid Security Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 61: Germany: Smart Grid Security Market: Sales Value (in Million US$), 2016 & 2021
Figure 62: Germany: Smart Grid Security Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 63: France: Smart Grid Security Market: Sales Value (in Million US$), 2016 & 2021
Figure 64: France: Smart Grid Security Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 65: United Kingdom: Smart Grid Security Market: Sales Value (in Million US$), 2016 & 2021
Figure 66: United Kingdom: Smart Grid Security Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 67: Italy: Smart Grid Security Market: Sales Value (in Million US$), 2016 & 2021
Figure 68: Italy: Smart Grid Security Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 69: Spain: Smart Grid Security Market: Sales Value (in Million US$), 2016 & 2021
Figure 70: Spain: Smart Grid Security Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 71: Russia: Smart Grid Security Market: Sales Value (in Million US$), 2016 & 2021
Figure 72: Russia: Smart Grid Security Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 73: Others: Smart Grid Security Market: Sales Value (in Million US$), 2016 & 2021
Figure 74: Others: Smart Grid Security Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 75: Latin America: Smart Grid Security Market: Sales Value (in Million US$), 2016 & 2021
Figure 76: Latin America: Smart Grid Security Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 77: Brazil: Smart Grid Security Market: Sales Value (in Million US$), 2016 & 2021
Figure 78: Brazil: Smart Grid Security Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 79: Mexico: Smart Grid Security Market: Sales Value (in Million US$), 2016 & 2021
Figure 80: Mexico: Smart Grid Security Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 81: Others: Smart Grid Security Market: Sales Value (in Million US$), 2016 & 2021
Figure 82: Others: Smart Grid Security Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 83: Middle East and Africa: Smart Grid Security Market: Sales Value (in Million US$), 2016 & 2021
Figure 84: Middle East and Africa: Smart Grid Security Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 85: Global: Smart Grid Security Industry: SWOT Analysis
Figure 86: Global: Smart Grid Security Industry: Value Chain Analysis
Figure 87: Global: Smart Grid Security Industry: Porter’s Five Forces Analysis

List of Tables

Table 1: Global: Smart Grid Security Market: Key Industry Highlights, 2021 and 2027
Table 2: Global: Smart Grid Security Market Forecast: Breakup by Component (in Million US$), 2022-2027
Table 3: Global: Smart Grid Security Market Forecast: Breakup by Subsystem (in Million US$), 2022-2027
Table 4: Global: Smart Grid Security Market Forecast: Breakup by Deployment Type (in Million US$), 2022-2027
Table 5: Global: Smart Grid Security Market Forecast: Breakup by Security Type (in Million US$), 2022-2027
Table 6: Global: Smart Grid Security Market Forecast: Breakup by Region (in Million US$), 2022-2027
Table 7: Global: Smart Grid Security Market Structure
Table 8: Global: Smart Grid Security Market: Key Players

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Key Questions Answered in This Report

The global smart grid security market was valued at US$ 7.1 Billion in 2021.

We expect the global smart grid security market to exhibit a CAGR of 12.3% during 2022-2027.

The increasing incidences of cyberattacks, along with the growing deployment of cloud- and web-
based security solutions, to ensure the enhanced privacy and protection of data, are currently
driving the global smart grid security market.

The sudden outbreak of the COVID-19 pandemic has led to the increasing adoption of automated
solutions in the power and utility sector for mitigating the risk of coronavirus infection upon human
interaction in metering and maintenance applications.

Based on the component, the global smart grid security market has been divided into solution and
services. Currently, services exhibit a clear dominance in the market.

Based on the subsystem, the global smart grid security market can be categorized into demand
response system, Supervisory Control and Data Acquisition (SCADA)/ Industrial Control System (ICS),
home energy management system, advanced metering infrastructure, and others. Among these,
Supervisory Control and Data Acquisition (SCADA)/ Industrial Control System (ICS) currently holds
the majority of the total market share.

Based on the deployment type, the global smart grid security market has been segmented into
cloud-based and on-premises. Currently, on-premises represent the largest market share.

Based on the security type, the global smart grid security market can be bifurcated into endpoint
security, application security, database security, network security, others. Among these, network
security accounts for the majority of the global market share.

On a regional level, the market has been classified into North America, Asia Pacific, Europe, Latin
America, and Middle East and Africa, where North America currently dominates the global market.

Some of the major players in the global smart grid security market include AlertEnterprise Inc., BAE
Systems, Broadcom Inc., Cisco Systems Inc., Honeywell International Inc., International Business
Machines Corporation, Leidos, Lockheed Martin Corporation, N-Dimension Solutions Inc. (IPKeys
Power Partners LLC), Siemens Aktiengesellschaft, Sophos Ltd. (Thoma Bravo LLC), etc.

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