Cloud Security in Energy Sector Market 2020 is Projected to Exhibit a CAGR of 9.68% during the Forecast period 2023 Consumer research, Analytical Research Report, Business Forecast by types, by applications

Cloud Security in Energy Sector

The Global Cloud Security in Energy Sector Market 2020-2023 Research Report provides idealistic and determined details of the Cloud Security in Energy Sector Market, that assist you in promoting ideas with research-based factors. It offers in-depth data, refines variations of the worldwide Cloud Security in Energy Sector market to help you in deciding the final strategy. The report features a thorough outlook of the market considering profitability, attractiveness, revenue, and CAGR.

The Cloud Security in Energy Sector Market Research Report also focuses on leading industry Manufacturer with information such as company profiles, products, and services offered financial information throughout 2020 – 2023

  • TrendMicro
  • Symplified Inc. (Parent RSA : Parent Dell Technologies)
  • CA Technologies
  • McAfee
  • IBM
  • Cipher Cloud
  • Safenet
  • VMware
  • Microsoft
  • Dell
  • Hewlett Packard Enterprise
  • Cisco Solutions
  • Panda Security
  • Forcepoint (Previously Known as Websence : Parent firm Raytheon)
  • Checkpoint
  • Trustwave
  • Intel Security Group
  • Porticor Ltd. (Acquired by Intuit
  • New Name: Intuit Data Protection Services)
  • Fortinet
  • NetLib Security
  • Inc.
  • Limelight Networks

The Cloud Security in Energy Sector Market Report offers an accurate financial assessment of each leading Competitor based on their business data that includes estimation of gross margin, Cloud Security in Energy Sector Market sales volume, profitability, pricing erection, product value, cost structure, revenue, and growth rate.

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Summary of Cloud Security in Energy Sector Market:

The global cloud security market in energy sector is projected to register a CAGR of 9.68% over the forecast period (2020 – 2023). The scope of the report constitutes of solutions offered by major players, including providers of hardware, software, customized products professional services, and integration solutions, either in security-based segments (application, database, etc.), or the on-the-service model type (IaaS, PaaS, and SaaS). The study offers the market insights on the regions considered in the scope of the report (North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa). The study also emphasizes on various deployment channels of the security classified as private, public, or hybrid clouds.

Innovation, Equipment Connectivity, and Malware Emergence in the Energy Sector

The energy sector has undergone a wave of innovation and the application of electronic and digital equipment and information technology has allowed it to bring parts of the system together. This synchronization and simulation have allowed the energy sector to use some of the ground-breaking technologies. PLC, SCADA, and DCS have made the operations of collecting data, moving, and controlling machines, valves, actuators, etc. by programs, logical, simple, and something that can be done on a continuous basis. With these devices, interconnectivity has evolved the threats of a security breach. Incidents like the Shamoon malware attacks in November 2016 and January 2017 against Gulf state organizations have made security imperative for the energy sector. The upstream, midstream, and downstream of all the levels in the energy sector have become prone to cyber-attacks and security is the utmost need to avoid any downtime. Any stopping or destruction of the energy sector services can prove catastrophic, as many other industries (chemical and power) are directly or indirectly dependent for their operations on them.

Alongside the increasing connectivity, the number of electronic control units and codes length aligning the processes have increased the complexity of the products. Thus, the concerns for cyber security are on the rise. Furthermore, in the energy sector market, it is difficult to monitor the security policies at every stage as the industry operates on a large scale to reduce the operating cost to revenue ratio. To counter these security risks, cloud security has become an indispensable aspect of the energy sector. Also, the government regulations and evolving industry standards of operations have been instrumental in driving the adoption of cloud security in energy sector market.

Application-related Threats and Security in the Energy Sector

To monitor and control the physical processes across the oil & gas segment, the energy sector applications use operational technology. This is done by acquiring process variable data, such as temperatures, pressures, levels, and valve positions, and further analyzing this data, to automate processes.
This automation of processes or parts becomes possible by means of electric, mechanical, hydraulic, pneumatic actuators, and control valves, getting handled and operated by industrial automation and control systems, such as SCADA, distributed control systems (DCS), programmable logic controllers (PLCs), open platform communication (OPC) servers, and field devices. The applications that control these systems are known to be the most targeted areas, since they are used to control and automate all the operations of factories. Industry 4.0 developments, the pressure to reduce operational expenditure to net sales, coupled with the increased demand for transparency through all the operations of the industry supply chain, industrial automation, and control systems have witnessed robust adoption. This has boosted the security approach, due to the participation of all the stakeholders in the supply chain to safeguard it from any security breach-associated vulnerabilities.

Since these systems control various vital operation and process-related equipment and machinery, from sensors to data acquisition systems, there is a need for resilient security applications to prevent intrusions and breaches. Thus, the need contributes positively to the growth of the application security segment.

Growing Concerns over Cloud Security

The demand for greater accessibility and visibility of products and services used for end users, like apps, creates a range of new vulnerabilities that were previously never faced. Furthermore, the increased collection of customer information (personal and financial) is increasing the susceptibility to a data breach from the attack and thefts in this domain. As the access to internet increases, energy companies are required to effectively manage the security for mobile devices and apps used by workers in the field. Also, with the IoT rise, the data generated from these sensor-driven devices needs be protected as it can also cause the loss of intellectual property. The systematic integration of IT eases the work process load, although it increases the risk to the critical infrastructure. The present aging infrastructure may present compatibility and various other integration issues. Furthermore, this will require improved workforce, trained to recognize and avoid breaches.

Software-based Solutions to Witness the Greatest Adoption

The technology solutions & cloud platforms segment has witnessed substantial growth over the years. It becomes clearer with the perspective of the market players as the cloud segment of the company, IBM Corporation, provides a set of hybrid cloud services, which include assisting clients with building their clouds, like private clouds, thus allowing clients to utilize cloud infrastructure services and create environments linking their private and public workloads together.

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Reasons to Purchase this Report

  • Current and future global cloud security in energy sector market outlook in the developed and emerging markets
  • To know how the security type acts as a driver to the global market scenario
  • Analyzing various perspectives of the market with the help of Porter’s five forces analysis
  • Service model and type of security that are expected to dominate the market
  • Regions that are expected to witness growth and their comparison with other regions in competition during the forecast period
  • Latest developments, market shares, and strategies employed by the major market players
  • 3 months analyst support, along with the Market Estimate sheet

    The Cloud Security in Energy Sector Market 2020-2023 Analysis objectives of the report are:

    • To analyze Cloud Security in Energy Sector Market regarding growth trends, anticipation and also their participation in the entire sector.
    • To equitably share in-depth info regarding the vital elements influencing the increase of industry (growth capacity, probability, drivers and industry-specific challenges and risks).
    • To know the Cloud Security in Energy Sector Market by distinguishing its many sub-segments.
    • To examine and study the market size (volume & value) from the company, essential regions/countries, products and application, background information from 2013 – 2020 and also prediction to 2023.
    • To profile the Leading players in the industry and analyze their growth plans.
    • To venture the amount and value of sub-markets, depending on key regions.
    • Primary worldwide Antifouling Paints and Coatings Market manufacturing companies, to specify, clarify and analyze the product sales amount, value and market share, market rivalry landscape, SWOT analysis, and development plans next coming years.
    • To examine competitive progress such as expansions, arrangements, new product launches and acquisitions on the market.

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    The growth of this market worldwide is subjected to various factors; including consumer world-class Cloud Security in Energy Sector Market of many Cloud Security in Energy Sector Market products, inorganic company growth models, price volatility of raw materials, product innovation along with economic prospects in both producer and consumer countries.

    In conclusion, Cloud Security in Energy Sector Market report presents the descriptive analysis of the parent market based on elite players, present, past and futuristic data that will serve as a profitable guide for all the Cloud Security in Energy Sector Market competitors.

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