London, 18 June 2015: Technavio, the independent tech-focused global research firm, has published a report on the global industrial cyber security market 2015-2019, which is expected to grow at a CAGR of 14.17% during the forecast period of 2014-2019.
Growing adoption of smart grids and smart metering by the utility and manufacturing sectors is resulting in increased instances of identity theft, and to combat such identity thefts, industrial cyber security solutions comprehensively scan and block unwanted traffic and malicious content before it enters an organization’s network. It also ensures the safe movement of data packets across a network.
“Smart grids comprise computers and automation systems working in tandem with electrical grids. Smart grids are highly reliable and efficient, and contribute to the economic and environmental health of a country,” says Faisal Ghaus, Vice President of Technavio.
“Governments in developing countries are investing in the installation of smart grids for achieving efficiency in the energy and utility sectors.”
Key Market Drivers:
- Increased Occurrence of Cyber-attacks.
- Increased Demand from Oil and Gas Sector.
- Emergence of Advanced Systems in Energy Sector.
- Rise in Network Security Threats.
Key Market Trends:
- High Adoption in Developing Regions.
- Increased Adoption of Smart Grids.
- Adoption of Cloud-based Applications.
- Increased Market Consolidation.
Key Market Vendors:
- Airbus Group NV
- Cisco Systems Inc.
- Honeywell International Inc.
- Lockheed Martin Corp.
- Schneider Electric SE
To define the market circumstances 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.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
