GCC Smart Grid Security Market Demand and Opportunity 2022-2027

The IMARC Group provides extensive analysis of the GCC smart grid security industry covering the market trends, investment opportunities, growth trends, statistics, and industry prospects. The report offers a comprehensive analysis of the industry, which comprises insights on GCC smart grid security market size, share, trends, analysis, growth, demand, statistics, and overview. The report also includes competitor and regional analysis, and contemporary advancements in the global market.

Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report. The market is segmented by size and region. The report provides an analysis of the key trends in each sub-segment of the market, along with forecasts at the global and regional level from 2022-2027. The report also includes competitive landscape of major key players in the industry along with emerging trends in the market.

Informed covered in the report:

  • Historical market data from 2016-2021
  • CAGR of the market during the forecast period 2022-2027
  • Detailed information on factors that will drive market growth during the next five years
  • Precise estimation of the Keyword market size and its contribution to the parent market
  • Upcoming market trends and changes in consumer behavior
  • A thorough analysis of the market’s competitive landscape and detailed information on key players
  • Comprehensive details of factors that will challenge the growth of smart meters market key players

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The GCC smart grid security market size reached US$ 1.1 Billion in 2021. Smart grid security refers to the protection of digital infrastructures, internet-connected systems, smart power grids and information technology (IT) solutions. Firewall, encryption, intrusion detection systems (IDS), antivirus and antimalware are some of the commonly used solutions to implement smart grid security. They are deployed on safety-critical systems, advanced components and electric power generators. Smart grid security aids in the efficient, cost-effective, reliable and clean distribution of energy throughout the grid. It also consists of various sub-systems, such as home energy management, demand response, advanced metering infrastructure and industrial control system (ICS).

GCC Smart Grid Security Market Trends:

The GCC smart grid security market is primarily being driven by the increasing demand for power generation and electricity. Various technological advancements, such as the integration of the internet of things (IoT) and Supervisory Control and Data Acquisition (SCADA) systems that provide enhanced security and mitigates cyber-attacks, are providing a thrust to the market growth. Other factors, including the implementation of various government initiatives promoting the use of renewable energy resources for power generation and the increasing incidence of cyberattacks, are anticipated to drive the market growth. Looking forward, IMARC Group expects the GCC smart grid security market to reach US$ 2.4 Billion by 2027, exhibiting a growth rate (CAGR) of 14.9% during 2022-2027.

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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

Market Segmentation:

Component:

  • Solution
    • Encryption
    • Antivirus and Antimalware
    • Identity and Access Management (IAM)
    • Firewall
    • Others
  • Services
    • Managed Services
    • Professional Services
    • Others

Subsystem:

  • Demand Response System
  • Supervisory Control and Data Acquisition (SCADA)/ Industrial Control System (ICS)
  • Home Energy Management System
  • Advanced Metering Infrastructure
  • Others

Deployment Type:

  • Cloud-based
  • On-premise

Security Type:

  • Endpoint Security
  • Application Security
  • Database Security
  • Network Security
  • Others

Country:

  • Saudi Arabia
  • UAE
  • Qatar
  • Oman
  • Kuwait
  • Bahrain

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Key highlights of the report:

  • Market Performance (2016-2021)
  • Market Outlook (2022-2027)
  • Market Trends
  • Market Drivers and Success Factors
  • Impact of COVID-19
  • Value Chain Analysis
  • Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

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Also Read: Europe Smart Grid Security Market Trends and Opportunities 2022-2027

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