Energy Security Market Expected to Reach USD 40 Billion by 2029


Posted April 1, 2024 by MMRNiranka

Energy Security Market size was valued at USD 15.9 Bn in 2022 and is expected to reach USD 40 Bn by 2029, at a CAGR of 10.2% over the forecast period.
 
Energy Security Market Overview:

The purpose of this study is to provide an in-depth analysis of the Energy Security Market by component, application, industry, and geography. The study provides detailed information on the major factors influencing the growth of the Energy Security industry. The study also provides a thorough examination of the market's value chain.

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Energy Security Market Scope:

The research method used to assess and forecast the Energy Security market begins with gathering revenue data from key suppliers using secondary research sources. When defining market segmentation, vendor offerings are also considered. Using the bottom-up method, the income of major corporations was utilized to assess the total size of the Energy Security market.

Energy Security Market Drivers:

Burning fossil fuels in the environment and public health, with the rise in energy demand and renewable energy plays imperative roles in the transformation of energy security. Increased government regulations, security compliance, and an increase in threats from terrorist and cyber-attacks are expected to drive the Energy Security Market growth. An increase in attacks and insider threats positively impacts market growth.

The development of new technologies and the urgent need for energy transition together with securing the power plants coupled with detecting or preventing any kind of intrusions is expected to boost the Energy Security Industry growth. In September 2022, ABB launched a cyber-security solution for the simplification and improved protection of industrial infrastructure. Implementation of network systems such as antivirus, firewall, SCADA, for preventing cybercriminal attacks the network power plant is expected to influence the energy security industry growth over the forecast period.

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Energy Security Market Segmentation:

by Component

1. Solution
2. Service
1. Service Type
2. Professional Services
3. Managed Services

by Technology

1. Physical Security
2. Network Security

by Power Plant

1.Thermal and hydro
2.Nuclear
3. Oil and gas
4. Renewable Energy

Energy Security Market Key Players: The key players are

1. AEGIS Security & Investigations
2. BAE Systems Plc
3. Elbit Systems Ltd.
4. Thales
5. Teledyne FLIR LLC
6. Siemens AG
7. ABB Ltd.
8. Honeywell International Inc.
9. Lockheed Martin Corporation
10. HCL
11. Acorn Energy Inc.

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Energy Security Market Regional Analysis:

Market share information for North America, Europe, Asia-Pacific, the Middle East, and Africa, and South America are available separately. Maximize analysts assess competitive strengths and conduct competitive analysis on each rival separately.

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COVID-19 Impact Analysis on Energy Security Market: The report also includes the detailed impact of COVID-19 on the Energy Security market.

Key Questions Answered in the Energy Security Market Report are:

Which segment had the largest share in the Energy Security market?
How is the competitive scenario of the Energy Security market in 2020?
Which are the key drivers impacting the Energy Security market growth?
Which region holds the maximum share in the Energy Security market?
What will be the CAGR of the Energy Security market during the forecast period (2021-2027)?
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Last Updated April 1, 2024