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Smart Grid Security Market Report by Component (Solution, Services), Subsystem (Demand Response System, Supervisory Control and Data Acquisition (SCADA)/ Industrial Control System (ICS), Home Energy Management System, Advanced Metering Infrastructure, and Others), Deployment Type (Cloud-based, On-premise), Security Type (Endpoint Security, Application Security, Database Security, Network Security, and Others), and Region 2024-2032

March 2024 | 146 pages | ID: S41B5F8F8201EN
IMARC Group

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The global smart grid security market size reached US$ 9.2 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 23.3 Billion by 2032, exhibiting a growth rate (CAGR) of 10.7% during 2024-2032.

Smart grid security refers to various solutions and services that are used to secure smart power grids, communications and information technology (IT) systems. It ensures that there is efficient, reliable, cost-effective and clean distribution of energy throughout the grid. It consists of advanced components and control methods and integrated communications systems with improved interfaces for measurement and sensing. It employs various technological solutions, such as antivirus, antimalware, firewalls, identity and access management (IAM), encryption, intrusion detection and data loss prevention (DLP) systems. Various subsystems, including Industrial Control System (ICS), advanced metering infrastructure and home energy management systems, are also used to ensure efficient smart grid security.

The rising demand for electricity and power generation in both developed and developing countries, and the increasing incidences of cyberattacks, currently represent as the key factors driving the growth of the market. This has led to the widespread adoption of smart grid security systems to secure communications and smart grid deployments. Furthermore, increasing utilization of cloud- and web-based applications across various industrial sectors is also providing a boost to the market growth. Consumers are implementing these security solutions with their connected devices to safeguard the home area network (HAN) and ensure the privacy and protection of data. Additionally, various technological advancements, such as the integration of Supervisory Control and Data Acquisition (SCADA) systems with the Internet of Things (IoT), are creating a positive outlook for the market. Other factors, including rapid urbanization, along with the implementation of favorable government initiatives to digitize the power sector with smart grid technologies, are projected to drive the market further.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global smart grid security market report, along with forecasts at the global, regional and country level 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:

North America
United States
Canada
Asia Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:

The report has also analysed the competitive landscape of the market with some of the key players being 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.

Key Questions Answered in This Report

1. What was the size of the global smart grid security market in 2023?
2. What is the expected growth rate of the global smart grid security market during 2024-2032?
3. What are the key factors driving the global smart grid security market?
4. What has been the impact of COVID-19 on the global smart grid security market?
5. What is the breakup of the global smart grid security market based on the component?
6. What is the breakup of the global smart grid security market based on the subsystem?
7. What is the breakup of the global smart grid security market based on the deployment type?
8. What is the breakup of the global smart grid security market based on the security type?
9. What are the key regions in the global smart grid security market?
10. Who are the key players/companies in the global smart grid security market?
1 PREFACE

2 SCOPE AND METHODOLOGY

2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
  2.3.1 Primary Sources
  2.3.2 Secondary Sources
2.4 Market Estimation
  2.4.1 Bottom-Up Approach
  2.4.2 Top-Down Approach
2.5 Forecasting Methodology

3 EXECUTIVE SUMMARY

4 INTRODUCTION

4.1 Overview
4.2 Key Industry Trends

5 GLOBAL SMART GRID SECURITY MARKET

5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast

6 MARKET BREAKUP BY COMPONENT

6.1 Solution
  6.1.1 Market Trends
  6.1.2 Major Types
    6.1.2.1 Encryption
    6.1.2.2 Antivirus and Antimalware
    6.1.2.3 Identity and Access Management (IAM)
    6.1.2.4 Firewall
    6.1.2.5 Others
  6.1.3 Market Forecast
6.2 Services
  6.2.1 Market Trends
  6.2.2 Major Types
    6.2.2.1 Managed Services
    6.2.2.2 Professional Services
    6.2.2.3 Others
  6.2.3 Market Forecast

7 MARKET BREAKUP BY SUBSYSTEM

7.1 Demand Response System
  7.1.1 Market Trends
  7.1.2 Market Forecast
7.2 Supervisory Control and Data Acquisition (SCADA)/ Industrial Control System (ICS)
  7.2.1 Market Trends
  7.2.2 Market Forecast
7.3 Home Energy Management System
  7.3.1 Market Trends
  7.3.2 Market Forecast
7.4 Advanced Metering Infrastructure
  7.4.1 Market Trends
  7.4.2 Market Forecast
7.5 Others
  7.5.1 Market Trends
  7.5.2 Market Forecast

8 MARKET BREAKUP BY DEPLOYMENT TYPE

8.1 Cloud-based
  8.1.1 Market Trends
  8.1.2 Market Forecast
8.2 On-premise
  8.2.1 Market Trends
  8.2.2 Market Forecast

9 MARKET BREAKUP BY SECURITY TYPE

9.1 Endpoint Security
  9.1.1 Market Trends
  9.1.2 Market Forecast
9.2 Application Security
  9.2.1 Market Trends
  9.2.2 Market Forecast
9.3 Database Security
  9.3.1 Market Trends
  9.3.2 Market Forecast
9.4 Network Security
  9.4.1 Market Trends
  9.4.2 Market Forecast
9.5 Others
  9.5.1 Market Trends
  9.5.2 Market Forecast

10 MARKET BREAKUP BY REGION

10.1 North America
  10.1.1 United States
    10.1.1.1 Market Trends
    10.1.1.2 Market Forecast
  10.1.2 Canada
    10.1.2.1 Market Trends
    10.1.2.2 Market Forecast
10.2 Asia Pacific
  10.2.1 China
    10.2.1.1 Market Trends
    10.2.1.2 Market Forecast
  10.2.2 Japan
    10.2.2.1 Market Trends
    10.2.2.2 Market Forecast
  10.2.3 India
    10.2.3.1 Market Trends
    10.2.3.2 Market Forecast
  10.2.4 South Korea
    10.2.4.1 Market Trends
    10.2.4.2 Market Forecast
  10.2.5 Australia
    10.2.5.1 Market Trends
    10.2.5.2 Market Forecast
  10.2.6 Indonesia
    10.2.6.1 Market Trends
    10.2.6.2 Market Forecast
  10.2.7 Others
    10.2.7.1 Market Trends
    10.2.7.2 Market Forecast
10.3 Europe
  10.3.1 Germany
    10.3.1.1 Market Trends
    10.3.1.2 Market Forecast
  10.3.2 France
    10.3.2.1 Market Trends
    10.3.2.2 Market Forecast
  10.3.3 United Kingdom
    10.3.3.1 Market Trends
    10.3.3.2 Market Forecast
  10.3.4 Italy
    10.3.4.1 Market Trends
    10.3.4.2 Market Forecast
  10.3.5 Spain
    10.3.5.1 Market Trends
    10.3.5.2 Market Forecast
  10.3.6 Russia
    10.3.6.1 Market Trends
    10.3.6.2 Market Forecast
  10.3.7 Others
    10.3.7.1 Market Trends
    10.3.7.2 Market Forecast
10.4 Latin America
  10.4.1 Brazil
    10.4.1.1 Market Trends
    10.4.1.2 Market Forecast
  10.4.2 Mexico
    10.4.2.1 Market Trends
    10.4.2.2 Market Forecast
  10.4.3 Others
    10.4.3.1 Market Trends
    10.4.3.2 Market Forecast
10.5 Middle East and Africa
  10.5.1 Market Trends
  10.5.2 Market Breakup by Country
  10.5.3 Market Forecast

11 SWOT ANALYSIS

11.1 Overview
11.2 Strengths
11.3 Weaknesses
11.4 Opportunities
11.5 Threats

12 VALUE CHAIN ANALYSIS

13 PORTERS FIVE FORCES ANALYSIS

13.1 Overview
13.2 Bargaining Power of Buyers
13.3 Bargaining Power of Suppliers
13.4 Degree of Competition
13.5 Threat of New Entrants
13.6 Threat of Substitutes

14 COMPETITIVE LANDSCAPE

14.1 Market Structure
14.2 Key Players
14.3 Profiles of Key Players
  14.3.1 AlertEnterprise Inc.
    14.3.1.1 Company Overview
    14.3.1.2 Product Portfolio
  14.3.2 BAE Systems
    14.3.2.1 Company Overview
    14.3.2.2 Product Portfolio
    14.3.2.3 Financials
    14.3.2.4 SWOT Analysis
  14.3.3 Broadcom Inc.
    14.3.3.1 Company Overview
    14.3.3.2 Product Portfolio
    14.3.3.3 Financials
    14.3.3.4 SWOT Analysis
  14.3.4 Cisco Systems Inc.
    14.3.4.1 Company Overview
    14.3.4.2 Product Portfolio
    14.3.4.3 Financials
    14.3.4.4 SWOT Analysis
  14.3.5 Honeywell International Inc.
    14.3.5.1 Company Overview
    14.3.5.2 Product Portfolio
    14.3.5.3 Financials
    14.3.5.4 SWOT Analysis
  14.3.6 International Business Machines Corporation
    14.3.6.1 Company Overview
    14.3.6.2 Product Portfolio
    14.3.6.3 Financials
    14.3.6.4 SWOT Analysis
  14.3.7 Leidos
    14.3.7.1 Company Overview
    14.3.7.2 Product Portfolio
    14.3.7.3 Financials
    14.3.7.4 SWOT Analysis
  14.3.8 Lockheed Martin Corporation
    14.3.8.1 Company Overview
    14.3.8.2 Product Portfolio
    14.3.8.3 Financials
    14.3.8.4 SWOT Analysis
  14.3.9 N-Dimension Solutions Inc (IPKeys Power Partners LLC)
    14.3.9.1 Company Overview
    14.3.9.2 Product Portfolio
  14.3.10 Siemens Aktiengesellschaft
    14.3.10.1 Company Overview
    14.3.10.2 Product Portfolio
    14.3.10.3 Financials
    14.3.10.4 SWOT Analysis
  14.3.11 Sophos Ltd (Thoma Bravo LLC)
    14.3.11.1 Company Overview
    14.3.11.2 Product Portfolio
    14.3.11.3 Financials

LIST OF TABLES

Table 1: Global: Smart Grid Security Market: Key Industry Highlights, 2023 and 2032
Table 2: Global: Smart Grid Security Market Forecast: Breakup by Component (in Million US$), 2024-2032
Table 3: Global: Smart Grid Security Market Forecast: Breakup by Subsystem (in Million US$), 2024-2032
Table 4: Global: Smart Grid Security Market Forecast: Breakup by Deployment Type (in Million US$), 2024-2032
Table 5: Global: Smart Grid Security Market Forecast: Breakup by Security Type (in Million US$), 2024-2032
Table 6: Global: Smart Grid Security Market Forecast: Breakup by Region (in Million US$), 2024-2032
Table 7: Global: Smart Grid Security Market Structure
Table 8: Global: Smart Grid Security Market: Key Players

LIST OF FIGURES

Figure 1: Global: Smart Grid Security Market: Major Drivers and Challenges
Figure 2: Global: Smart Grid Security Market: Sales Value (in Billion US$), 2018-2023
Figure 3: Global: Smart Grid Security Market: Breakup by Component (in %), 2023
Figure 4: Global: Smart Grid Security Market: Breakup by Subsystem (in %), 2023
Figure 5: Global: Smart Grid Security Market: Breakup by Deployment Type (in %), 2023
Figure 6: Global: Smart Grid Security Market: Breakup by Security Type (in %), 2023
Figure 7: Global: Smart Grid Security Market: Breakup by Region (in %), 2023
Figure 8: Global: Smart Grid Security Market Forecast: Sales Value (in Billion US$), 2024-2032
Figure 9: Global: Smart Grid Security (Solution) Market: Sales Value (in Million US$), 2018 & 2023
Figure 10: Global: Smart Grid Security (Solution) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 11: Global: Smart Grid Security (Services) Market: Sales Value (in Million US$), 2018 & 2023
Figure 12: Global: Smart Grid Security (Services) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 13: Global: Smart Grid Security (Demand Response System) Market: Sales Value (in Million US$), 2018 & 2023
Figure 14: Global: Smart Grid Security (Demand Response System) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 15: Global: Smart Grid Security (Supervisory Control and Data Acquisition (SCADA)/ Industrial Control System) Market: Sales Value (in Million US$), 2018 & 2023
Figure 16: Global: Smart Grid Security (Supervisory Control and Data Acquisition (SCADA)/ Industrial Control System) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 17: Global: Smart Grid Security (Home Energy Management System) Market: Sales Value (in Million US$), 2018 & 2023
Figure 18: Global: Smart Grid Security (Home Energy Management System) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 19: Global: Smart Grid Security (Advanced Metering Infrastructure) Market: Sales Value (in Million US$), 2018 & 2023
Figure 20: Global: Smart Grid Security (Advanced Metering Infrastructure) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 21: Global: Smart Grid Security (Other Subsystems) Market: Sales Value (in Million US$), 2018 & 2023
Figure 22: Global: Smart Grid Security (Other Subsystems) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 23: Global: Smart Grid Security (Cloud-based) Market: Sales Value (in Million US$), 2018 & 2023
Figure 24: Global: Smart Grid Security (Cloud-based) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 25: Global: Smart Grid Security (On-premise) Market: Sales Value (in Million US$), 2018 & 2023
Figure 26: Global: Smart Grid Security (On-premise) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 27: Global: Smart Grid Security (Endpoint Security) Market: Sales Value (in Million US$), 2018 & 2023
Figure 28: Global: Smart Grid Security (Endpoint Security) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 29: Global: Smart Grid Security (Application Security) Market: Sales Value (in Million US$), 2018 & 2023
Figure 30: Global: Smart Grid Security (Application Security) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 31: Global: Smart Grid Security (Database Security) Market: Sales Value (in Million US$), 2018 & 2023
Figure 32: Global: Smart Grid Security (Database Security) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 33: Global: Smart Grid Security (Network Security) Market: Sales Value (in Million US$), 2018 & 2023
Figure 34: Global: Smart Grid Security (Network Security) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 35: Global: Smart Grid Security (Other Security Types) Market: Sales Value (in Million US$), 2018 & 2023
Figure 36: Global: Smart Grid Security (Other Security Types) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 37: North America: Smart Grid Security Market: Sales Value (in Million US$), 2018 & 2023
Figure 38: North America: Smart Grid Security Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 39: United States: Smart Grid Security Market: Sales Value (in Million US$), 2018 & 2023
Figure 40: United States: Smart Grid Security Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 41: Canada: Smart Grid Security Market: Sales Value (in Million US$), 2018 & 2023
Figure 42: Canada: Smart Grid Security Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 43: Asia Pacific: Smart Grid Security Market: Sales Value (in Million US$), 2018 & 2023
Figure 44: Asia Pacific: Smart Grid Security Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 45: China: Smart Grid Security Market: Sales Value (in Million US$), 2018 & 2023
Figure 46: China: Smart Grid Security Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 47: Japan: Smart Grid Security Market: Sales Value (in Million US$), 2018 & 2023
Figure 48: Japan: Smart Grid Security Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 49: India: Smart Grid Security Market: Sales Value (in Million US$), 2018 & 2023
Figure 50: India: Smart Grid Security Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 51: South Korea: Smart Grid Security Market: Sales Value (in Million US$), 2018 & 2023
Figure 52: South Korea: Smart Grid Security Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 53: Australia: Smart Grid Security Market: Sales Value (in Million US$), 2018 & 2023
Figure 54: Australia: Smart Grid Security Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 55: Indonesia: Smart Grid Security Market: Sales Value (in Million US$), 2018 & 2023
Figure 56: Indonesia: Smart Grid Security Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 57: Others: Smart Grid Security Market: Sales Value (in Million US$), 2018 & 2023
Figure 58: Others: Smart Grid Security Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 59: Europe: Smart Grid Security Market: Sales Value (in Million US$), 2018 & 2023
Figure 60: Europe: Smart Grid Security Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 61: Germany: Smart Grid Security Market: Sales Value (in Million US$), 2018 & 2023
Figure 62: Germany: Smart Grid Security Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 63: France: Smart Grid Security Market: Sales Value (in Million US$), 2018 & 2023
Figure 64: France: Smart Grid Security Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 65: United Kingdom: Smart Grid Security Market: Sales Value (in Million US$), 2018 & 2023
Figure 66: United Kingdom: Smart Grid Security Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 67: Italy: Smart Grid Security Market: Sales Value (in Million US$), 2018 & 2023
Figure 68: Italy: Smart Grid Security Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 69: Spain: Smart Grid Security Market: Sales Value (in Million US$), 2018 & 2023
Figure 70: Spain: Smart Grid Security Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 71: Russia: Smart Grid Security Market: Sales Value (in Million US$), 2018 & 2023
Figure 72: Russia: Smart Grid Security Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 73: Others: Smart Grid Security Market: Sales Value (in Million US$), 2018 & 2023
Figure 74: Others: Smart Grid Security Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 75: Latin America: Smart Grid Security Market: Sales Value (in Million US$), 2018 & 2023
Figure 76: Latin America: Smart Grid Security Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 77: Brazil: Smart Grid Security Market: Sales Value (in Million US$), 2018 & 2023
Figure 78: Brazil: Smart Grid Security Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 79: Mexico: Smart Grid Security Market: Sales Value (in Million US$), 2018 & 2023
Figure 80: Mexico: Smart Grid Security Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 81: Others: Smart Grid Security Market: Sales Value (in Million US$), 2018 & 2023
Figure 82: Others: Smart Grid Security Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 83: Middle East and Africa: Smart Grid Security Market: Sales Value (in Million US$), 2018 & 2023
Figure 84: Middle East and Africa: Smart Grid Security Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 85: Global: Smart Grid Security Industry: SWOT Analysis
Figure 86: Global: Smart Grid Security Industry: Value Chain Analysis
Figure 87: Global: Smart Grid Security Industry: Porter’s Five Forces Analysis


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