The Europe Cyber Security In Energy Market would witness market growth of 10.1% CAGR during the forecast period (2022-2028).
The energy sector comprises tens of thousands of enterprises that produce coal, oil, nuclear power, natural gas, and renewable fuels, including geothermal, hydroelectric, solar, and wind energy. This industry is responsible for producing, storing, transferring, and distributing energy via a network of dams, pipelines, reservoirs, and power grids. The vulnerabilities of their IT systems, OT infrastructure, or supply chain partners pose a cyber threat to energy firms.
IT systems consist of the hardware, software, and technologies utilized to collect and process the data required to conduct the enterprise's business operations. OT infrastructure consists of the software, hardware, and technologies necessary for controlling physical equipment like pumps, valves, motors, and switches. Evaluating attacks and breaches in the energy industry demonstrates the need to secure the broad supply chain ecology of the energy sector. Threat actors can inject compromised components into a system or network at any stage of the system's life cycle.
Industry 4.0 was increasingly used in Europe's energy sector, resulting in enhanced production, delivery, and consumption. In addition, these new laws and government regulations try to mitigate the threat posed by climate change, fluctuating energy prices, and supply issues. The European energy sector's digitalization is central to all key commission initiatives. These initiatives sought to provide adequate cybersecurity for operators and end users. As a result of these reasons, it is anticipated that the market for cybersecurity in energy market will experience rapid expansion in the Europe region.
The Germany market dominated the Europe Cyber Security In Energy Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $1,043.1 million by 2028. The UK market is anticipated to grow at a CAGR of 9.2% during (2022 - 2028). Additionally, The France market would exhibit a CAGR of 10.9% during (2022 - 2028).
Based on End User, the market is segmented into Commercial, Industrial and Residential. Based on Organization Size, the market is segmented into Large Enterprises and SMEs. Based on Deployment Type, the market is segmented into On-premise and Cloud. Based on Component, the market is segmented into Solution and Service. Based on Solution Type, the market is segmented into Identity & Access Management, Infrastructure Security, Governance Risk & Compliance, Unified Vulnerability Management Service Offering, Data Security & Privacy Service Offering and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Worldwide Cyber Security In Energy Market is Projected to reach USD 15.8 Billion by 2028, at a CAGR of 10.8%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Accenture PLC, IBM Corporation, General Electric Company, Ansaldo Energia S.p.A., Baker Hughes Company, Hitachi, Ltd. (Hitachi Energy Ltd.), and Mitsubishi Heavy Industries Ltd. (Mitsubishi Power, Ltd.)
By End User
By Organization Size
By Deployment Type
By Component
By Country
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