- The key vendors in the Global Utility Infrastructure Security Market 2015-2019 are Axis Communications AB, Bosch Security Systems, Honeywell Security Group, Lockheed Martin Corp., NICE Systems Ltd. and Schneider Electric SE
London, 03 March 2015: TechNavio, an independent tech-focused global research firm, has announced the publication of its market research report on the Global Utility Infrastructure Security Market 2015-2019. One key trend upcoming in this market is the high adoption of security solutions in developing regions. The number of critical infrastructures is expected to increase significantly in the APAC region and steadily in the MEA region and Latin America during the forecast period. This is expected to lead to an increase in the installations of security solutions to safeguard these infrastructures from physical and cyber threats. Currently, critical infrastructures exist in parts of North America and Europe, leading to a high adoption of security solutions in these regions. The Global Utility Infrastructure Security market is expected to grow significantly at a CAGR of 4.53 percent during the period 2014-2019.
The number of utility facilities, including oil and gas sites and energy maintenance sites, is expected to increase steadily in developing and under-developed regions such as Latin America, the MEA region, and the APAC region. A recent trend in the APAC region is the shift of oil and gas exploration to deep water areas. This has created opportunities for manufacturing specialized subsea extraction and production equipment.
“Large enterprises and government organizations in various verticals are rapidly adopting cloud-based services that ensure a centralized, searchable repository of historical data,” says Faisal Ghaus, Vice President of TechNavio Research.
“Moreover, cloud-based services ensure low TCO along with improved methods of managing the complexities involved with huge data volumes.”
To define the market conditions in the next 3-4 years, TechNavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
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