Europe Smart Grid Security Market to Reach US$ 7,646.4 Million by 2032, Impelled by Increasing Demand for Power Generation and Electricity.

July 18, 2022 | Technology & Media

According to the latest report by IMARC Group, titled “Europe Smart Grid Security Market Report by Component (Solution, Services), Subsystem (Demand Response System, Supervisory Control and Data Acquisition (SCADA)/ Industrial Control System (ICS), Home Energy Management System, Advanced Metering Infrastructure, and Others), Deployment Type (Cloud-based, On-premise), Security Type (Endpoint Security, Application Security, Database Security, Network Security, and Others), and Country 2024-2032," the Europe smart grid security market reached a value of US$ 2,784.1 Million in 2023. Smart grid security refers to various solutions and services that protect communication systems, digital infrastructures, information technology (IT) systems, and internet-connected systems. It consists of safety-critical systems, advanced components, control methods, and electric power generators. It employs various technological solutions, such as encryption, firewall, managed services, antivirus and antimalware, and identity and access management (IAM). Smart grid security is widely utilized to analyze, detect, and respond to disturbances and is tolerant to cybersecurity attacks. It aids in reliable, efficient, cost-effective, and clean energy distribution throughout the grid. It comprises various subsystems, such as advanced metering infrastructure, home energy management, demand response, and industrial control system (ICS).

Europe Smart Grid Security Market Trends:

The rising demand for power generation and electricity and the growing incidences of cyberattacks are creating a positive outlook for the market. In line with this, the increasing inclination towards energy-efficient smart grids due to reliable and clean energy distribution across the region is propelling the market growth. Apart from this, the integration of Supervisory Control and Data Acquisition (SCADA) systems with the internet of things (IoT) to provide enhanced security and mitigate cyber-attacks is providing an impetus to the market growth. Additionally, various government initiatives to cut greenhouse gas emissions and meet energy needs through the use of renewable energy sources are positively influencing the market growth. Moreover, the utilization of advanced components and control methods to improve efficiency, security, and reliability features of power grids are propelling the market growth. Other factors, including the increasing incidences of cyberattacks, rapid urbanization, and the development of smart cities, are anticipated to drive the market toward growth. On account of the aforementioned factors, the market value is expected to reach US$ 7,646.4 Million by 2032, exhibiting a CAGR of 11.5% during 2024-2032.

Market Summary:

On the basis of the component, the market has been classified into solution (encryption, antivirus and antimalware, identity and access management (IAM), firewall and others) and services (managed and professional services and others).
Based on the subsystem, the market has been divided into demand response system, supervisory control and data acquisition (SCADA)/ industrial control system (ICS), home energy management system, advanced metering infrastructure and others.
On the basis of the deployment type, the market has been bifurcated in cloud-based and on-premises.
Based on the security type, the market has been divided into endpoint security, application security, database security, network security and others.
Based on the country, the market has been categorized into Germany, France, the United Kingdom, Italy, Spain and Others.
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

Report Scope:

Report Features	Details
Base Year of the Analysis	2023
Historical Period	2018-2023
Forecast Period	2024-2032
Units	US$ Million
Segment Coverage	Component, Subsystem, Deployment Type, Security Type, Country
Countries Covered	Germany, France, United Kingdom, Italy, Spain, Others
Customization Scope	10% Free Customization
Report Price and Purchase Option	Single User License: US$ 3699 Five User License: US$ 4699 Corporate License: US$ 5699
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)

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Contact Us:

IMARC Group
30 N Gould St, Ste R
Sheridan, WY 82801, USA
Website: https://www.imarcgroup.com/
Email: sales@imarcgroup.com
Americas:- +1 631 791 1145 | Africa and Europe :- +44-753-713-2163 | Asia: +91-120-433-0800

Need more help?

Speak to our experienced analysts for insights on the current market scenarios.
Include additional segments and countries to customize the report as per your requirement.
Gain an unparalleled competitive advantage in your domain by understanding how to utilize the report and positively impacting your operations and revenue.
For further assistance, please connect with our analysts.

Europe Smart Grid Security Market to Reach US$ 7,646.4 Million by 2032, Impelled by Increasing Demand for Power Generation and Electricity.

Purchase options

Single User License ~~$3699~~ $2899
Five User License ~~$4699~~ $3899
Corporate User License ~~$5699~~ $4899

Inquire Before Buying

Benefits of Customization

Personalize this research

Triangulate with your data

Get data as per your format and definition

Gain a deeper dive into a specific application, geography, customer, or competitor

Any level of personalization

Speak to an Analyst

Request Brochure

Get in Touch With Us

UNITED STATES

Phone: +1-631-791-1145

INDIA

Phone: +91-120-433-0800

UNITED KINGDOM

Phone: +44-753-713-2163

Email: sales@imarcgroup.com

Client Testimonials

IMARC made the whole process easy. Everyone I spoke with via email was polite, easy to deal with, kept their promises regarding delivery timelines and were solutions focused. From my first contact, I was grateful for the professionalism shown by the whole IMARC team. I recommend IMARC to all that need timely, affordable information and advice. My experience with IMARC was excellent and I can not fault it.

The IMARC team was very reactive and flexible with regard to our requests. A very good overall experience. We are happy with the work that IMARC has provided, very complete and detailed. It has contributed to our business needs and provided the market visibility that we required

We were very happy with the collaboration between IMARC and Colruyt. Not only were your prices competitive, IMARC was also pretty fast in understanding the scope and our needs for this project. Even though it was not an easy task, performing a market research during the COVID-19 pandemic, you were able to get us the necessary information we needed. The IMARC team was very easy to work with and they showed us that it would go the extra mile if we needed anything extra

Last project executed by your team was as per our expectations. We also would like to associate for more assignments this year. Kudos to your team.

We would be happy to reach out to IMARC again, if we need Market Research/Consulting/Consumer Research or any associated service. Overall experience was good, and the data points were quite helpful.

Arabian Plastic Manufacturing Company Ltd.

The figures of market study were very close to our assumed figures. The presentation of the study was neat and easy to analyse. The requested details of the study were fulfilled. My overall experience with the IMARC Team was satisfactory.

The overall cost of the services were within our expectations. I was happy to have good communications in a timely manner. It was a great and quick way to have the information I needed.

My questions and concerns were answered in a satisfied way. The costs of the services were within our expectations. My overall experience with the IMARC Team was very good.

I agree the report was timely delivered, meeting the key objectives of the engagement. We had some discussion on the contents, adjustments were made fast and accurate. The response time was minimum in each case. Very good. You have a satisfied customer.

We would be happy to reach out to IMARC for more market reports in the future. The response from the account sales manager was very good. I appreciate the timely follow ups and post purchase support from the team. My overall experience with IMARC was good.

IMARC was a good solution for the data points that we really needed and couldn't find elsewhere. The team was easy to work, quick to respond, and flexible to our customization requests.