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(USGovernment-News.Com, October 05, 2018 ) The Global Smart Grid Security Market was valued at USD 4.45 billion in 2016 and is projected to reach USD 11.06 billion by 2025, growing at a CAGR of 10.65% from 2017 to 2025.
A smart grid is defined as an electrical grid that comprises several energy as well as operational processes such as renewable and energy efficient resources. As the smart grid functions with the aid of the internet, it can be vulnerable to specific cyber-attacks. Regardless of this, there are several advantages to the implementation of smart grid technologies, such as the increased data resilience, enhanced network stability as well as the formation of network compliance.
The growing number of cyber-attacks has caused a need for integration of cyber security solutions such as smart grid IT. The evolution of systems such as smart grids has aided in the assurance of cyber safety for businesses that would otherwise remain vulnerable. This factor has led to the growth of the smart grid security market whereas factors like less awareness when it comes to security when it comes to smart grid stakeholders, as well as the necessity to maintain the cybersecurity standards, are restraining the growth of the smart security market.
The “Global Smart Grid Security Market” study report will provide a valuable insight with an emphasis on global market including some of the major players such as Siemens AG, Leidos, BAE Systems PLC, Elster Solutions, Intel Security, N-Dimension Solutions, Inc., IBM Corporation, Cisco Systems, Inc., Symantec Corporation, Alert enterprise. Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with its product benchmarking and SWOT analysis.
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