Energy Security Market
Increase in adoption of energy security, owing to its security is one of the most significant factors driving the growth of the market.
WILMINGTON, DE, UNITED STATES, October 25, 2024 /EINPresswire.com/ — Allied Market Research published a new report, titled, ” The Global Energy Security Market Size Reach USD 42 Billion by 2031, Growing with CAGR of 10.5%.” The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.
Energy Security Market,” was valued at $15.6 billion in 2021, and is estimated to reach $42 billion by 2031, growing at a CAGR of 10.5% from 2022 to 2031.
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Energy security industry is a cybersecurity defense practice that aims to deceive attackers by distributing a collection of traps and decoys across a system’s infrastructure to imitate genuine assets. Energy security aims to prevent a cybercriminal that has managed to infiltrate a network from doing any significant damage. Moreover, it mainly tackles the energy system and is able to carry out prompt responses to sudden changes in the energy supply and demand cycle.
The COVID-19 outbreak negatively impacts the growth of the market the industry is expected to recover by the third quarter of 2022. This is attributed to significant investment in advanced technologies such as IoT and smart technologies and various government initiatives, such as smart cities, across Asia-Pacific countries, including China and India. Furthermore, adopting technologies such as cloud, Artificial Intelligence (AI), and IoT. With the considerable control achieved over the pandemic, various sectors such as retail, manufacturing, and automotive, are expected to witness rising investments as energy security solutions grow in prominence across different business functions offered several opportunities to digitize and expand the business across regions. Moreover, various public and private entities are expected to come together to create ecosystems to share data for multiple use cases under a common regulatory and cybersecurity framework, which, in turn, is expected to provide lucrative opportunity for the growth of the global market.
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Depending on technology, the physical security segment holds the largest energy security market share owing to, high demand and fast adoption of physical security systems. However, the network security segment is expected to grow at the highest rate during the forecast period, owing to increasing the number of current threats may represent a cyber security risk.
Region-wise, the energy security market size was dominated by North America in 2021, and is expected to retain its position during the forecast period owing to, increasing in adoption of balance of energy production in oil and natural gas industries. However, Asia-Pacific is expected to witness significant growth during the forecast period, owing to infrastructure improvements and updating current export policies.
The key players profiled in the energy security market analysis are are Accenture, Capgemni SE, Cisco Systems Inc, Fujitsu, Cognizant, Delloite, IBM Corporation, Infosys, Tata Consultancy services, Tech Mahindra Limited, Oracle Software, HCL Technology, Tesco Controls, Burrow Global, INTECH, Crystalloids Inc, and Mangrovia Blockchain Solutions. These players have adopted various strategies to increase their market penetration and strengthen their position in the energy security industry.
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