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Energy Security Market By Power Plant (Nuclear, Thermal & Hydro, Oil & Gas, and Renewable Energy), Technology (Physical Security [Biometrics & Card Reader, Air & Ground Surveillance, Microwave Intrusion Detection, Fire Alarm System, and Others], and Network Security [SCADA, Firewall, Disaster Recovery, and Others]), Professional Services (Managed Services, Risk Management Services, Integration, and Consulting), and Industry Vertical (Energy & Power, IT & Telecommunication, and Others): Global Opportunity Analysis and Industry Forecast, 2020–2027

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Jun 2021 | 378 Views
 
Author(s) : NA
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Energy Security Market Outlook – 2027 

Energy Security is defined as the association between national security and availability of natural resources for consumption of energy due to the necessity of access to relatively cheap energy sources for functioning of modern economies. Energy security solutions are primarily used in power plant sector for microwave intrusion detection, secured communication, surveillance systems in order to address the disruptions by natural disasters and geo-political strife. Energy network security systems such as antivirus, firewall, security information and event management (SIEM) helps to prevent cyber threat or terrorist attack in power plant network. 

Physical security systems such as fire detection, pipeline management system, X-ray scanning, air and ground surveillance systems are used to address the concern for physical unavailability of non-renewable energy resources such as electricity, natural gas and keep them in constant balance. Energy efficiency ensures long and short-term energy security in a cost-effective manner by reducing the reliance on non-renewable energy sources which implies that the energy security market share will undergo steady growth in coming years.

The global energy security market is segmented on the basis of power plant, technology, professional services, industry vertical, and region. Based on power plant, the energy security market is divided into nuclear, thermal & hydro, oil & gas, and renewable energy. In terms of technology, the market is bifurcated into physical security and network security. The physical security segment is further divided into biometrics & card reader, air & ground surveillance, microwave intrusion detection, fire alarm system, and others. 

The network security segment is also further categorized into SCADA, firewall, disaster recovery, and others. On the basis of professional services, the energy security market is divided into managed services, risk management services, integration, and consulting. In terms of industry vertical, the market is segregated into energy & power, IT & telecommunication, and others. Geographically, the market is analyzed across several regions such as North America, Europe, Asia-Pacific, and Latin America, Middle East & Africa (LAMEA).

Key players operating in the global energy security industry include BAE Systems PLC, Elbit Systems Ltd., ABB Ltd., Thales S.A., Siemens AG, Ericsson, Honeywell International Inc., Symantec Corp., HCL Technologies, and Acorn Energy Inc. These companies have adopted several strategies such as product launches, partnerships, collaborations, mergers & acquisitions, and joint ventures to strengthen their foothold in the global energy security market. 

Top Impacting Factors

Necessity of refined tools, network systems due to surge in rate of cybercrime and network security threats accompanied by rising government pressure for security compliances and regulatory policies primarily drive the energy security market growth. However, lack of awareness regarding implementation of security systems as well as unpredictability of cybercrime is predicted to hamper the energy security market growth.

On the other hand, physical unavailability of the supply of non-renewable energy resources such as coal, petroleum, natural gas due to indiscriminate use further boosts the energy security market revenue. Implementation of network systems such as firewall, antivirus, SCADA to prevent any kind of intrusions in power plant network presents new pathways to the energy security industry.

New Product Launches to Flourish the Market

Leading energy security market players take necessary steps to improve operational efficiency while reducing cost with a view to provide tangible business value.

In March 2020, Ericsson, Swedish multinational telecommunications and networking company, announced a unique, network-levelled approach to reduce energy consumption and carbon emission in mobile networks while meeting increasing traffic demands after rolling out of 5G technology. The network is built with latest technology solution, energy-saving software by building 5G precisely and intelligent operation of site infrastructure. 

The 5G modular Ericsson Radio System can operate in all site types and is flexible enough to accommodate networks from 2G, 3G, 4G, 5G hence delivering high performance on smallest footprint with lowest energy consumption. 

Ericsson Spectrum Sharing enables cost-efficient wide-area 5G coverage to operate in lower frequency bands without re-farming carriers by allowing 1ms scheduling for best spectral efficiency.

Dual-mode 5G core solution enables common software platform to manage both 5G and 4G hence allowing service providers to introduce 5G quickly. By automation native cloud design existing services are protected while increasing performance in reduced cost.

RAN energy-saving software help operators reduce energy consumption by automatically deactivating not required capacity during low and medium traffic loads. RAN Compute and radio equipment are dynamically activated by predicting traffic patterns, traffic loads with maintained network performance.

In addition to these Ericsson introduced AI-powered Energy Infrastructure Operations, an energy management solution that uses data analytics to meet rising traffic demands while lowering energy consumption and overall expenditure. It helps service providers break the energy curve as well as enables 30% reduction in energy-related outrages and 15% reduction in site visits due to passive infrastructure. 

Surge in Use in Industrial and Automotive Application

Energy security systems are essential in power plants to reduce dependence on any one source of imported energy, increase number of suppliers, exploit renewable energy sources and reduce overall demand through energy conservation measures. Technological diversification of energy sources results in significant energy security systems with a view to ensure efficient environmental protection and security of energy
supply.

In March 2020, HCL Technologies, a leading global technology company, released BigFix 10, an endpoint management platform that allows security operations fully automate discovery, management, and remediation on premises or on cloud irrespective of location or connectivity. BigFix Insights easily finds the endpoint issues, visualizes risk as well as costs to drive action throughout the organization quickly. It provides fast response, streamlines processes and improved security posture. 

Modern Client Management manages Windows10 and MacOS endpoints while consolidating multiple vendors, reducing cost and complexity. MultiCloud Support provides administrators 3600 visibility, control of both cloud and on-premise endpoints from a single solution. This enables organizations to effectively manage and report on all endpoint devices from a single solution at scale. 

Key Benefits of the Stakeholders

  • The study gives an analytical overview of energy security market forecast with current trends and future estimations to determine imminent investment pockets.
  • The report provides information related to key drivers, restraints, and opportunities along with detailed energy security market analysis.
  • The energy security market trends are quantitatively analyzed from 2020 to 2027.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 

Market Scope and Structure Analysis

Report Metric

Details

Market Size Available For Years

2019-2027

Base Year Considered

2019

Forecast Period

2020-2027

Forecast Unit

Value ($)

Segments Covered

Power Plant, Technology, Professional Services, Industry Vertical, and Region

Region Covered

North America (U.S., Canada, and Mexico), Europe (Germany, UK, France, Russia, and rest of Europe), Asia Pacific (India, Japan, China and rest of Asia Pacific) and LAMEA (Latin America, Middle East, and Africa)

Companies Covered

BAE Systems PLC, Elbit Systems Ltd., ABB Ltd., Thales S.A., Siemens AG, Ericsson, Honeywell International Inc., Symantec Corp., HCL Technologies, and Acorn Energy Inc.


COVID-19 Scenario Analysis

  • COVID-19 has offered negative effects on individuals and businesses worldwide. This market is facing major challenges due to shutdown of certain location, employee layoffs, changing suppliers or eliminating salaries. Security and surveillance will be one of those areas suffering both budget and manpower cuts.
  • China being the primary global producer of clean energy technologies such as solar panels, turbines, batteries, has delayed deliveries to renewable energy companies who are not able to comply with equipment installation deadlines. In response to the lockdown restrictions there is a decline in industrial energy production which predicts negative impact on the energy security market along with similar trend of falling demand and power price reduction
  • In May 2020 NGA reported that electricity use has fallen by 5-15% thereby decreasing electric load and increasing risk of energy incidents. Rising unemployment will result in an increasing customer base unable to pay electricity bills resulting in steep dip in revenue. Falling demand of energy has resulted in price volatility resulting in fuel storage challenges for the oil and gas sector.
  • On the other hand, governments worldwide have developed stringent network security and surveillance mechanisms such as apps integrated with geo-tagging features to ensure that people are following social distancing measures and are in strict home quarantine. The energy security market is expected to cope up with the situation steadily with the commencement of industrial operations after shutdown restrictions are lifted.

Energy Security Market Key Segments

Segments

Sub-Segments

Power Plant

  • Nuclear
  • Thermal and Hydro
  • Oil and Gas
  • Renewable Energy

Technology

  • Physical Security
  • Biometrics and Card Reader
  • Air and Ground Surveillance
  • Microwave Intrusion Detection
  • Fire Alarm System
  • Others
  • Network Security
  • SCADA
  • Firewall
  • Disaster Recovery
  • Others

Professional Services

  • Managed Services
  • Risk Management Services
  • Integration
  • Consulting

Industry Vertical

  • Energy and Power
  • IT and Telecommunication
  • Others

 

Questions Answered in the Energy Security Market Research Report

  • Who are the leading players in the energy security market?
  • What would be the detailed impact of COVID-19 on the energy security market size?
  • What are the current energy security market trends that would influence the industry in the next few years?
  • What are the driving factors, restraints, and opportunities in the market?
  • What are the projections for the future that would help in taking further strategic steps?
 
With collective industry experience of about 200 years of its analysts and experts, Allied Market Research (AMR) encompasses most infallible research methodology for its market intelligence and industry analysis. We do not only engrave the deepest levels of markets but also sneak through its slimmest details for the purpose of our market estimates and forecasts. Our approach helps in building greater market consensus view for size, shape and industry trends within each industry segment. We carefully factor in industry trends and real developments for identifying key growth factors and future course of the market. Our research proceeds are the resultant of high quality data, expert views and analysis and high value independent opinions. Our research process is designed to deliver balanced view of the global markets and allow stakeholders to make informed decisions.

We offer our clients exhaustive research and analysis based on wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics and regional intelligence. Our in-house industry experts play instrumental role in designing analytic tools and models, tailored to the requirements of particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of our recommendations and advice. With AMR’s calibrated research process and 360` degree data-evaluation methodology, our clients are assured of receiving:

  • Consistent, valuable, robust and actionable data & analysis that can easily be referenced for strategic business planning
  • Technologically sophisticated and reliable insights through well audited and veracious research methodology
  • Sovereign research proceeds that present a tangible depiction of marketplace


With a strong methodology we are, therefore, confident that our research and analysis are most reliable and guarantees sound business planning.

Secondary research
We refer a broad array of industry sources for our secondary, which typically include; however, not limited to: Company SEC filings, annual reports, company websites, broker & financial reports and investor presentations for competitive scenario and shape of the industry

  • Patent and regulatory databases for understanding of technical & legal developments
  • Scientific and technical writings for product information and related preemptions
  • Regional government and statistical databases for macro analysis
  • Authentic new articles, web-casts and other related releases for market evaluation
  • Internal and external proprietary databases, key market indicators and relevant press releases for market estimates and forecast


Primary research
Our primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks and face-to-face interactions. We are also in professional corporate relations with various companies that allow us greater flexibility for reaching out industry participants and commentators for interviews and discussions, fulfilling following functions:

  • Validates and improves the data quality and strengthens research proceeds
  • Further develops analyst team’s market understanding and expertise
  • Supplies authentic information about market size, share, growth and forecasts


Our primary research interview and discussion panels are typically composed of most experienced industry members. These participants include; however, not limited to:

  • Chief executives and VPs of leading corporations specific to industry
  • Product and sales managers or country heads; channel partners and top level distributors; banking, investments and valuation experts Key opinion leaders (KOLs)


Analyst tools and models
AMR has developed set of analyst tools and data models to supplement and expedite the analysis process. Corresponding to markets, where there is significant lack of information and estimates, AMR’s team of experts and analyst develop specific analyst tools and industry models to translate qualitative and quantitative industry indicators into exact industry estimates. These models also allow analysts to examine the prospects and opportunities prevailing in the market to accurately forecast the course of the market.
 
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