The global energy security market is poised for a quantum shift owing to factors such as rising energy demand in the developing economies along with increased distribution and extraction infrastructure. Energy security refers to the protection of power plants and varied sources of energy generation from the cyber and physical attacks for the efficient functioning of the plants for power generation. It offers access to reliable energy resources, protection of the environment along with the security of energy corridors. It acts as a means for facilitating economic growth, thus reducing poverty and improving the quality of life by broadening access to modern energy services.
Emerging economies are focused on the optimum utilization of resources for sustaining their economies, which is expected to drive the energy security market over the forecast period. Energy markets have been susceptible to disruptions caused by natural disasters and geopolitical strife. Need to address this growing demand by organizations and contemporary establishments across the globe are expected to positively impact market growth over the forecast period. Long term energy safety refers to the timely investment to supply energy along with sustainable environmental needs and economic development whereas short term energy refers to the ability of the system to react to changes in the demand-supply balance.
Supply safety concerns refer to the economic damage caused owing to extreme cost spikes. The concern for physical unavailability of supply is prevailing in energy markets where transmission systems including electricity and natural gas needs to be kept in constant balance. Several government authorities along with power plant owners are implementing network and physical solutions such as perimeter, microwave intrusion detection, secured communications, surveillance systems, access control systems, and detectors. Further, implementation of network systems such as antivirus, firewall, SCADA systems along with IPS/IDS systems for preventing cybercriminal in attacking the network power plant network is projected to elevate energy security industry growth over the next seven years.
Energy security helps in securing the power plants coupled with detecting or preventing any kind of intrusions, which are expected to boost the industry demand. Increase demand for sophisticated network and cyber threats, growing terrorist attacks along with rising government pressure for security compliances and regulatory policies are expected to drive energy security market growth over the forecast period. There are several measures implemented for protecting the power plants, however, there is no single integrated solution for providing network and physical safety solutions. Various companies have initiated to offer integrated solutions and are entering the growing market for energy security.
The rising need for protecting existing energy infrastructure and resources in developed nations along with increased pipeline infrastructure is projected to offer prominent growth opportunities for the energy security market by 2022. However, lack of apprehension regarding safety implementation by operators along with the unpredictability of cyber threats is expected to hinder the industry growth. The energy security market can be segmented on the basis of power plants into hydro and thermal, nuclear, oil & gas, and renewable energy. The oil & gas sector is expected to be the dominant segment in terms of adoption and spending for the solutions. The industry can be classified on the basis of technologies into network and physical safety.
North America is expected to be the dominant region for the industry owing to the increasing adoption of these solutions. Asia Pacific is anticipated to witness considerable growth over the forecast period owing to increasing population and government initiatives in this region. Key players in the energy security industry include Thales Group, Siemens AG, ABB, Cassidian, Ericsson, Honeywell International Inc., Safran, Raytheon, BAE Systems, Aegis Defense Services Ltd, Symantec Corporation, Tofino, HCL and Acorn Energy Inc. Various industry vendors are looking forward to gaining a competitive advantage in the industry by creating and offering intelligent and integrated management platforms and sophisticated solutions for the power and energy plants. The vendors are closely working with the government agencies for providing services and solutions that can benefit the power plants to secure the premises from cyber-attacks and physical threats.
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