Evolving Market Trends In The Smart Grid Security Industry: Innovative Solutions Driving Smart Grid Security Market Growth

The Smart Grid Security Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].

What Is the Expected Smart Grid Security Market Size During the Forecast Period?
In recent years, the market size for smart grid security has seen a quick expansion. From $10.12 billion in 2024, it is set to increase to $11.44 billion in 2025, with a compound annual growth rate (CAGR) of 13.1%. The notable growth during this historical period has been fueled by factors such as the surge in cyber threats, regulatory mandates, the integration of renewable energy, the widespread adoption of IoT devices, and the increasing need for grid resilience.

Rapid expansion is forecasted for the smart grid security market size in the forthcoming years. The market is projected to expand to $18.49 billion in 2029, growing at a compound annual growth rate (CAGR) of 12.7%. The escalation during the forecast period is due to an increase in cyber threats, a rise in the use of IoT devices, strict regulatory mandates, the enlargement of smart grid deployments, and escalating investments in grid modernization. The forecast period will witness several trends such as the integration of artificial intelligence and machine learning for threat identification, the use of blockchain to amplify data security, the adoption of cloud-based security solutions, focused efforts on public-private collaborations to tackle security hurdles, and the growth of IoT devices along with edge computing.

Purchase the full report for exclusive industry analysis:
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=14798

What Are the High-Growth Segments in the Smart Grid Security Market?
The smart grid security market covered in this report is segmented -

1) By Type: Endpoint, Network, Application, Database
2) By Security Layers: Physical Security, Network Security, Application Security, Data Security
3) By Deployment Mode: On-Premise, Cloud
4) By Application: Consumption, Generation, Distribution And Control
5) By End-Users: Utilities, Energy Management, Industrial, Residential, Commercial

Subsegments:
1) By Endpoint: Smart Meters, Grid Devices (Sensors, Controllers), Distributed Energy Resources (DERs), Electric Vehicle Charging Stations
2) By Network: Communication Networks (SCADA, IEC 61850), VPN Or Firewall Solutions, Intrusion Detection Systems (IDS), Distributed Denial-Of-Service (DDoS) Protection
3) By Application: Grid Management Software, Demand Response Platforms, Energy Management Systems (EMS), Supervisory Control And Data Acquisition (SCADA) Systems
4) By Database: Data Encryption, Data Integrity Solutions, Database Access Control, Security Information And Event Management (SIEM)

Get your free sample here:
https://www.thebusinessresearchcompany.com/sample.aspx?id=14798&type=smp

What Key Drivers Are Expected to Influence Future Smart Grid Security Market Growth?
The rise in cybersecurity risks is anticipated to fuel the progress of the smart grid security market. These risks encompass conceivable threats and susceptibility in digital systems, networks, and data that may result in unauthorized access, data compromises, or interruptions in operations. Numerous factors, like technology expansion, advancement in cyberattacks, the shift towards remote work and cloud adoption, and a deficiency in security consciousness, have been escalating cybersecurity risks. Solutions offered by smart grid security facilitate acceleration in the incident response during a cyber-attack or security infringement by providing automated warning systems, incident control processes, and response strategies. These security systems also rely on threat intelligence feeds and data from cybersecurity research establishments to stay abreast with evolving cyber threats and attack pathways. For instance, data from the Australian Cyber Security Centre, an Australian based cyber security firm, showed that in February 2023 the cybercrime reports received in 2022 were 76,000, witnessing a 13% increase from the prior year. Hence, the escalating cybersecurity risks are spurring the growth of the smart grid security market.

Which Companies Hold the Largest Share Across Different Smart Grid Security Market Segments?
Major companies operating in the smart grid security market are Siemens AG, Lockheed Martin Corporation, HP Inc., International Business Machines Corporation, Cisco Systems Inc., N-Dimension Solutions, Schneider Electric SE, Broadcom Inc., ABB Ltd., BAE Systems Plc, Eaton Corporation plc, Leidos Holdings Inc., Entergy Corporation, Xylem Inc., Palo Alto Networks Inc., Fortinet Inc., Black & Veatch Holding Company, Landis+Gyr, FireEye Inc., Sophos Ltd., AlertEnterprise Inc., Trilliant Holdings Inc., IOActive, AT&T Cybersecurity, GE Grid Solutions LLC

What Are the Latest Developing Trends in the Smart Grid Security Market?
Major corporations in the smart grid security industry are honing their strategies and focusing on the development of innovative solutions like sophisticated smart grid security platforms. These platforms are high-tech cybersecurity measures designed specifically to safeguard contemporary electric power grids against cyber threats and vulnerabilities. For example, in August 2022, the Dubai Electricity and Water Authority (DEWA), an infrastructure company based out of the UAE, introduced the Big Data and Analytics platform. The platform was developed to integrate smart grid applications and bolster the security and management of smart grid data. It is equipped to handle large volumes of data and deliver factual analytics and predictive insights for current and prospective projects. The platform optimizes the operation and management of assets and smart meters while enhancing the experiences of stakeholders. Additionally, DEWA has also launched the Smart Grid Data Governance platform. It ensures adherence to all data policies and procedures, fostering best practices for responsibility, decision-making structure, data management, and stewardship. The platform takes a data-as-an-asset approach, outlining and ratifying data strategies, standards, procedures, and metrics.

Get the full report for exclusive industry analysis:
https://www.thebusinessresearchcompany.com/report/smart-grid-security-global-market-report

What Are the Emerging Geographies for The Smart Grid Security Market Growth?
North America was the largest region in the smart grid security market in 2024. The regions covered in the smart grid security market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Smart Grid Security Market?
2. What is the CAGR expected in the Smart Grid Security Market?
3. What Are the Key Innovations Transforming the Smart Grid Security Industry?
4. Which Region Is Leading the Smart Grid Security Market?

Why This Report Matters:

Competitive overview: This report analyzes the competitive landscape of the 3D imaging software market, evaluating key players on market share, revenue, and growth factors.

Informed Decisions: Understand key strategies related to products, segmentation, and industry trends.

Efficient Research: Quickly identify market growth, leading players, and major segments.

Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.

Contact Us
Europe: +44 207 1930 708,
Asia: +91 88972 63534,
Americas: +1 315 623 0293 or
Email: mailto:info@tbrc.info

Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.

This release was published on openPR.