According to a new report, published by KBV research, The Global Cyber Security In Energy Market size is expected to reach $15.8 billion by 2028, rising at a market growth of 10.8% CAGR during the forecast period.
The Commercial segment is leading the Global Cyber Security In Energy Market by End User in 2021 thereby, achieving a market value of $8.9 billion by 2028. In a shifting market, energy and resources organizations are fast advancing their digital transformation initiatives to update infrastructure, generate cost and operational efficiencies, and create new revenue streams. In a shifting market, energy and resources organizations are fast advancing their digital transformation initiatives to update infrastructure, generate savings and operational efficiencies, and create new revenue streams.
The SMEs segment has shown the growth rate of 13.1% during (2022 - 2028). Due to their limited financial resources, small and medium-sized businesses are more susceptible to cyberattacks. In addition, the absence of security policies and employee skills are some of the primary causes of the rise in cyber-attacks against small and medium-sized enterprises. As a result, the growing requirement to reduce operational and data breach expenses and to secure IT assets is predicted to promote the adoption of this technology among SMEs.
The On-premise segment acquired maximum revenue share in the Global Cyber Security In Energy Market by Deployment Type in 2021 thereby, achieving a market value of $9.1 billion by 2028. As they control vital business information databases, several large firms prefer to own their solutions and upgrades, providing the highest level of data protection. In addition, on-premises deployment eliminates reliance on third-party organizations for explicit monitoring and data security.
The Service segment has shown the growth rate of 12.8% during (2022 - 2028). Small and medium-sized enterprises (SMEs) have limited budgets and small teams. Thus, they frequently rely on consultations before implementing solutions. In addition, the pandemic caused an increase in the deployment of cyber security services due to various firms' plans to reinforce their IT infrastructure & network security, as well as manage distant employees and avoid attacks from unidentified networks and devices.
The North America market dominated the Global Cyber Security In Energy Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $5.4 billion by 2028. The Europe market is exhibiting a CAGR of 10.1% during (2022 - 2028). Additionally, The Asia Pacific market would showcase a CAGR of 11.8% during (2022 - 2028).
Full Report: https://www.kbvresearch.com/cyber-security-in-energy-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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 Geography
Companies Profiled
Unique Offerings 
