According to a market report by Lucintel, the future of the global smart grid security market looks promising with opportunities in the energy efficient resources, renewable energy resources, smart meters, and smart applications. The global smart grid security market is expected to reach an estimated $20.5 billion by 2028 with a CAGR of 9.8% from 2023 to 2028. The major drivers for this market are growing demand for cloud-based smart grids from organizations, expanding need for these grids to ensure cyber security standards, and introduction of technologically improved grids based on IoT and supervisory control and data acquisition systems.

In this market, network security, application security, endpoint security, and database security are the major segments of global smart grid security market by type. Lucintel forecasts that database security will remain the highest growing segment over the forecast period due to rising number of cyber-attack cases and increasing risks on complex database infrastructure.
Within this market, smart meter will remain the largest segment due to its widespread application in eliminating the errors in manual meter readings and also helps in encouraging efficient utilization of power resources.

North America will remain the largest region over the forecast period due to expanding number of smart grid projects, growing awareness towards cybersecurity information, and supportive investment from the US government for the installation of smart grids in the region.

BAE Systems, IBM, Cisco, Intel Corporation, Siemens, Symantec, and N-Dimension Solutions are the major suppliers in the global smart grid security market.
This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or write us at [email protected]