GCC Smart Grid Security Market to Reach US$ 2.4 Billion by 2027

According to IMARC Group’s latest report, titled “𝐆𝐂𝐂 𝐒𝐦𝐚𝐫𝐭 𝐆𝐫𝐢𝐝 𝐒𝐞𝐜𝐮𝐫𝐢𝐭𝐲 𝐌𝐚𝐫𝐤𝐞𝐭: 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲 𝐓𝐫𝐞𝐧𝐝𝐬, 𝐒𝐡𝐚𝐫𝐞, 𝐒𝐢𝐳𝐞, 𝐆𝐫𝐨𝐰𝐭𝐡, 𝐎𝐩𝐩𝐨𝐫𝐭𝐮𝐧𝐢𝐭𝐲 𝐚𝐧𝐝 𝐅𝐨𝐫𝐞𝐜𝐚𝐬𝐭 𝟐𝟎𝟐𝟐-𝟐𝟎𝟐𝟕”, the GCC smart grid security market size reached US$ 1.1 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 2.4 Billion by 2027, exhibiting a growth rate (CAGR) of 14.9% during 2022-2027

Smart grid security refers to the several services and solutions that are utilized to secure communications, power grids, and information technology (IT) systems. It comprises advanced components and control measures that provide an enhanced level of interfaces for sensing and measurement. Smart grid security offers high reliability, cost-effectiveness, efficiency, and an alternative form of clean energy distribution throughout the grid. The system uses technological solutions, such as antimalware, firewalls, antivirus, identity and access management (IAM), intrusion detection, data loss prevention (DLP) systems, etc., to lower the possibility of power grid collapse or equipment malfunction. As a result, smart grid security finds widespread applications in endpoint, network, and database protection.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐟𝐨𝐫 𝐚 𝐅𝐫𝐞𝐞 𝐏𝐃𝐅 𝐬𝐚𝐦𝐩𝐥𝐞 𝐨𝐟 𝐭𝐡𝐢𝐬 𝐫𝐞𝐩𝐨𝐫𝐭: https://www.imarcgroup.com/gcc-smart-grid-security-market/requestsample

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.

𝐆𝐂𝐂 𝐒𝐦𝐚𝐫𝐭 𝐆𝐫𝐢𝐝 𝐒𝐞𝐜𝐮𝐫𝐢𝐭𝐲 𝐌𝐚𝐫𝐤𝐞𝐭 𝐓𝐫𝐞𝐧𝐝𝐬:

The escalating demand for electricity and power generation and the inflating need for these systems to ensure communications and deployments, owing to the high instances of cyberattacks, are among the primary factors driving the GCC smart grid security market. Besides this, the rising integration of cloud and web-based applications across various industrial verticals and the easy access to improved and affordable energy systems are further augmenting the market growth.

Moreover, consumers are utilizing smart grid security solutions with their connected devices to safeguard the home area network (HAN) and ensure the privacy and protection of data, which is also catalyzing the market growth across GCC. Apart from this, the widespread adoption of supervisory control and data acquisition (SCADA) systems is acting as another significant growth-inducing factor. Furthermore, the launch of several favorable policies by government bodies to digitize the power sector with this technology is expected to bolster the GCC smart grid security market in the coming years.

𝐁𝐮𝐲 𝐓𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰: https://www.imarcgroup.com/checkout?id=3768&method=1

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.

𝐊𝐞𝐲 𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧:

Breakup by Component:
• Solution
• Services

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

𝐀𝐬𝐤 𝐀𝐧𝐚𝐥𝐲𝐬𝐭 𝐟𝐨𝐫 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐚𝐭𝐢𝐨𝐧 𝐚𝐧𝐝 𝐄𝐱𝐩𝐥𝐨𝐫𝐞 𝐟𝐮𝐥𝐥 𝐫𝐞𝐩𝐨𝐫𝐭 𝐰𝐢𝐭𝐡 𝐓𝐎𝐂 & 𝐋𝐢𝐬𝐭 𝐨𝐟 𝐅𝐢𝐠𝐮𝐫𝐞𝐬: https://www.imarcgroup.com/request?type=report&id=3768&flag=C

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.

𝐑𝐞𝐥𝐚𝐭𝐞𝐝 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐛𝐲 𝐈𝐌𝐀𝐑𝐂 𝐆𝐫𝐨𝐮𝐩:

India Digital Asset Management Market: https://www.imarcgroup.com/india-digital-asset-management-market

Asia Pacific Digital Asset Management Market: https://www.imarcgroup.com/asia-pacific-digital-asset-management-market

GCC Digital Asset Management Market: https://www.imarcgroup.com/gcc-digital-asset-management-market

India E-learning Market: https://www.imarcgroup.com/india-e-learning-market

Asia Pacific E-learning Market: https://www.imarcgroup.com/asia-pacific-e-learning-market

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This release was published on openPR.