About Utilities Security
The utilities infrastructure is a major part of critical infrastructure, which involves oil and gas and electricity. The number of critical infrastructures is likely to grow during the forecast period in different regions around the world. Critical infrastructures are high-value construction projects, and their security is crucial for governments as well as enterprises. An increased number of cyber threats are likely to cause more damage than physical threats. Owing to an increase in criminal activities over the network, governments have imposed strict regulations to secure critical infrastructures.Physical security involves the security of an organization's data, hardware, network, and computer programs from external threats. These threats can include burglary, data theft, and terrorism. Numerous hardware devices and software are being adopted by government organizations and enterprises to ensure the security of their assets and physical security of critical business data.Cyber security solutions prevent hackers and network intruders from attacking an organization's network. Cyber security is important for government organizations and enterprises that transmit large volumes of confidential data over the network, including financial and confidential data.
Technavio’s analysts forecast the global utilities security market to grow at a CAGR of 4.82% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global utilities security market for the period 2016-2020. To calculate the market size, the report considers the revenue generated from the sales of the following applications:
Technavio Announces the Publication of its Research Report – Global Utilities Security Market 2016-2020
Technavio recognizes the following companies as the key players in the Global Utilities Security Market: Axis Communications, Bosch Security Systems, Honeywell Security, Qognify, and Tyco International.
Other Prominent Vendors in the market are: AlienVault, Anixter, Cisco Systems, Computer Sciences Corporation, G4S, General Dynamics, General Electric, McAfee, Northrop Grumman, Siemens, and Symantec.
Commenting on the report, an analyst from Technavio’s team said: “Vendors offer simple security solutions that detect, identify, and mitigate attacks. However, with the increasing demand for advanced solutions and the growing preference for outsourcing network security to dedicated vendors, there is a need for sophisticated and advanced security services. For instance, the demand for complex services such as vulnerability management and policy or compliance-related solutions is expected to increase. In addition, there is an increasing demand for solutions that offer vulnerability scanning, patching, upgrades, configuration enforcement, and change control. As a result, vendors are expected to introduce customized and advanced utilities security products, thereby contributing to the growth of the market.”
According to the report, the need to increase the levels of protection is the major contributing factor to the growth of the global utilities security market. With the increase in frequency and complexity of cyber attacks, there is an urgent need for reliable protection solutions. As a result of the increasing complexity of the applications that companies use in their operational processes, there is an increase in false positives and false negatives in security systems. This issue is further complicated by the lack of skilled IT professionals.
Further, the report states that one of the major challenges that vendors encounter in the market is the issue of integrating their products with other security solutions.
Axis Communications, Bosch Security Systems, Honeywell Security, Qognify, Tyco International, AlienVault, Anixter, Cisco Systems, Computer Sciences Corporation, G4S, General Dynamics, General Electric, McAfee, Northrop Grumman, Siemens, Symantec.
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