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Smart Grid Security Market - Global Forecast to 2021 - Key Players are BAE Systems, IBM, Cisco Systems, Intel, Siemens, Symantec, N-Dimension Solutions, Elster Solutions, AlertEnterprise & Leidos - Research and Markets

[July 18, 2017]

Smart Grid Security Market - Global Forecast to 2021 - Key Players are BAE Systems, IBM, Cisco Systems, Intel, Siemens, Symantec, N-Dimension Solutions, Elster Solutions, AlertEnterprise & Leidos - Research and Markets

The "Smart Grid Security Market - Global Forecast to 2021" report has been added to Research and Markets' offering.

The report estimates the global smart grid security market to grow from USD 4.29 billion in 2016 to USD 7.00 billion by 2021, at a Compound Annual Growth Rate (CAGR) of 10.3%. The smart grid security market is growing rapidly because of the increase in adoption of smart grid security solutions, due to the increase in security breaches targeting enterprises. However, factors such as lack of security awareness among smart grid stakeholders are restraining the growth of the smart grid security market.

Smart grid security solutions have been deployed in a large number of energy and utilities sector across the globe. Identity and Access Management (IAM) solutions provide a business security process framework, enabling the initiation and management of user identity and related access permissions in an automated fashion. The IAM solution is expected to witness the highest CAGR during the forecast period because of the increasingrisk over maintenance of sensitive data.

Supervisory Control and Data Acquisition (SCADA)/Industrial Control System (ICS) security is estimated to have the largest market size in 2016 because of the growing need to secure complex subsystems in smart grid. The growth in SCADA and ICS security is associated with the rise in security breaches targeting critical infrastructure in enterprises, where hackers try to gain access to sensitive data. Furthermore, application demand response subsystem will grow at the highest CAGR during the forecast period, due to the organization's need to balance the demand and supply of electricity.

Companies Mentioned