The pandemic continues to cause unprecedented disruption across industries worldwide.
Get detailed insights regarding the impact of COVID-19 on the market.
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.
REACH OUT TO US
Call us on
( US: +1-631-791-1145 )
( UK: +44-753-713-2163 )
( India: +91 120 433 0800 )
Drop us an email at