United States Smart Grid Security Market

Market Overview:

The United States smart grid security market size reached US$ 2.5 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 5.2 Billion by 2032, exhibiting a growth rate (CAGR) of 8.2% during 2024-2032.

A smart grid security system helps prevent energy frauds and preserves privacy. It also optimizes the infrastructure to regulate the flow of power and meet demands for peak time. A smart grid security system consists of various advanced components and control methods, which are integrated with communication systems to provide improved interfaces used for measurement and sensing. Moreover, it also uses different technological solutions like antivirus, antimalware, firewalls, intrusion detection, identity and access management (IAM), encryption, and data loss prevention (DLP) systems.

The United States smart grid security market is primarily driven by the increase in electricity consumption and power generation. Besides this, the growing cases of cyberattacks have also resulted in the rising adoption of smart grid security systems to secure communications and smart grid deployments. The United States also accounts for the majority of the smart grid projects. Along with this, a rise in the usage of cloud- and web-based applications across the industrial sectors is providing a positive thrust to the market growth. Furthermore, technological advancements, such as the integration of Supervisory Control and Data Acquisition (SCADA) systems and the Internet of Things (IoT), are also contributing to the market growth.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the United States smart grid security market report, along with forecasts at the country and regional levels from 2024-2032. 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:

• Northeast
• Midwest
• South
• West
   

Competitive Landscape:

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

Report Coverage:

Key Questions Answered in This Report:

• How has the United States 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 United States 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 United States smart grid security market and who are the key players?
• What is the degree of competition in the industry?