According to IMARC Group’s latest report, titled “Europe Smart Grid Security Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the Europe smart grid security market reached a strong growth in 2020. Smart grid security refers to a system that secures efficient, reliable, cost-effective, and clean energy distribution throughout the grid. It involves integrated communications systems, advanced control methods, and enhanced sensing and measurement interfaces for measurement and sensing.
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The increasing adoption of smart grid technology represents the primary factor bolstering the Europe smart security grid market. Smart grid security facilitates a stable and reliable power system operation during contingency situations in case of any critical power system component failure. Furthermore, the European Union (EU) has also set a target for reducing greenhouse gases by 20% to meet its energy needs while using renewable energy sources. This has also escalated the demand for innovative grid security solutions across the region. Moreover, several technological advancements, such as the integration of the internet of things (IoT) and connected devices with smart grid security systems, ensure data privacy and protection. On account of these factors, the market is expected to witness positive growth in the near future. Looking forward, the market is expected to continue its robust growth during the forecast period (2021-2026).
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Market Segmentation:
Breakup by Component:
- Solution
- Encryption
- Antivirus and Antimalware
- Identity and Access Management (IAM)
- Firewall
- Others
- Services
- Managed Services
- Professional Services
- Others
Breakup by Subsystem:
- Demand Response System
- Supervisory Control and Data Acquisition (SCADA)/ Industrial Control System (ICS)
- Home Energy Management System
- Advanced Metering Infrastructure
- Others
Breakup by Deployment Type:
- Cloud-based
- On-premise
Breakup by Security Type:
- Endpoint Security
- Application Security
- Database Security
- Network Security
- Others
Breakup by Country:
- Germany
- France
- United Kingdom
- Italy
- Spain
- Others
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Key highlights of the report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- Market Trends
- Market Drivers and Success Factors
- The Impact of COVID-19 on the Global Market
- Value Chain Analysis
- Structure of the Global Market
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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