Global Utility Infrastructure Security Market 2015-2019
About Utility Infrastructure Security
Utility infrastructure constitutes a major part of critical infrastructure. The number of critical infrastructures worldwide would see a marked increase during the forecast period. These include oil and gas manufacturing sites, water distribution and sanitation sites, nuclear facilities, and energy maintenance sites. These infrastructures are considered high-value construction projects and, therefore, security has gained paramount importance among various countries because of a considerable increase in cyber-attacks over the years. Increased online criminal activity has forced various countries to impose strict regulations to secure their critical infrastructures.Physical security involves securing an organization's data, hardware, network, and programs from external threats; it helps organizations preserve their brand value and protects them from external threats such as burglary, data theft, and terrorism. Government organizations and enterprises worldwide are increasingly adopting a variety of hardware devices and software to ensure physical security of their business-critical data. This stems from increased criminal activity in recent years.Cybersecurity focuses on protecting an organization's network from hackers and other network intruders. It has gained increased traction among government institutions and enterprises, which involve transmission of huge volumes of confidential data; these data could be the financial data of an organization.
TechNavio's analysts forecast the Global Utility Infrastructure Security market to grow at a CAGR of 4.53 percent over the period 2014-2019.
Covered in this Report
This report covers the present scenario and the growth prospects of the Global Utility Infrastructure Security market for the period 2015-2019. To calculate the market size, the report considers the revenue generated from the sale of the following applications:
TechNavio Announces the Publication of its Research Report – Global Utility Infrastructure Security Market 2015-2019
TechNavio recognizes the following companies as the key players in the Global Utility Infrastructure Security Market: Axis Communications AB, Bosch Security Systems, Honeywell Security Group, Lockheed Martin Corp., NICE Systems Ltd. and Schneider Electric SE
Other Prominent Vendors in the market are: Accenture, AlienVault, Anixter, Cisco Systems, CSC, DvTel, GE, General Dynamics, HP, IBM, McAfee, Northrop Grumman, Siemens and Symantec.
Commenting on the report, an analyst from TechNavio’s team said: “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.”
According to the report, increased demand for cybersecurity is one of the key drivers of this market. The rising instances of criminal activities, thefts, and unauthorized access have led to the loss of critical and confidential data. The leakage of data may damage the brand value of an organization, leading to the high cost of a compromised network.
Further, the report states that one of the major challenges that the market faces is the requirement for high initial investment. End-users are required to spend heavily in the initial stages of setting up the security of a critical infrastructure. Small companies find it difficult to bear the high initial costs. TCO would also include replacement and upgrade costs of devices along with the cost incurred for professional expertise.
Axis Communications, Bosch Security Systems, Honeywell Security, Lockheed Martin, NICE Systems, Schneider Electric, Accenture, AlienVault, Anixter, Cisco Systems,Computer Sciences Corporation, DvTel, General Dynamics, General Electric, HP, IBM, McAfee, Northrop Grumman, Siemens, Symantec
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