Oil and Gas Security and Service Market: Global Opportunity Analysis and Industry Forecast, 2020–2027
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A06886
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Sep 2020 |
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COVID-19
Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Oil And Gas Security And Service Market: Global Opportunity Analysis And Industry Forecast, 2020–2027 Market
Request Now !Oil & gas security and service redefine the strength of encryption and authentication capabilities by providing effective and enhanced network protections to anticipate and eliminate possible cyber-attacks to oil & gas facilities worldwide. The security of the operational technology (OT) such as supervisory control and data acquisition (SCADA) and distributed control system (DCS) of the infrastructure of oil & gas industry from cyber-attacks and data theft is known as oil & gas security. Oil & gas security and services include physical and network defense across both projects, offshore and onshore. Monitoring systems have empowered issues to be identified and have helped to identify solutions in a shorter time cycle. Rise in need for energy supply is creating pressure on governments to draw up regulatory plans for the oil & gas physical protection framework. Increase in cyber-attacks by oil & gas firms on the operational technology (OT) raises the need for market protection. In addition, surge in need for energy supply is creating pressure on governments to draw up regulatory plans for the oil & gas physical protection framework.
Market scope and structure analysis
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Report Metric |
Details |
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Market size available for years |
2019–2027 |
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Base year considered |
2019 |
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Forecast period |
2020–2027 |
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Forecast unit |
Value (USD) |
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Segments covered |
Type, Application, and Region |
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Regions covered |
North America (U.S., Mexico, and Canada), Europe (Germany, UK, France, and the Rest of Europe), Asia-Pacific (China, Japan, India, and the Rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia and the Rest of LAMEA) |
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Companies covered |
Intel Corporation, Siemens AG, Honeywell International Inc., Cisco Systems Inc., Symantec Corporation, Lockheed Martin Corporation, Thales Group, Johnson Controls, Microsoft Corporation, and Parsons Corporation |
Key drivers of global oil & gas security and service market
The growth of the global oil & gas security and services industry is driven by rise in government legislation to ensure safety at all levels of oil & gas exploration, refining, transportation, and storage. Governments have developed numerous cyber management policies and legislation and procedures to ensure optimal protection in the oil & gas sector. This has further led to growth of the global oil & gas security and services market. Increase in expenditure on network and operational technology security by oil & gas companies and increase in trend in security and vulnerability management have boosted the growth of the market. Moreover, rise in trend of bring-your-own-device and political chaos in the Middle East fuel the market growth.
Market scenario: opportunities and challenges
Remote sensing and monitoring are the latest technologies used for the defense and distribution of oil & gas in the global market. Monitoring of pipes from a remote area, including explosions and leakages and other facilities may be accomplished. Remote monitoring has enabled real-time reservoir management. Remote tracking is carried out for onshore as well as offshore applications. Companies have invested in newer IT infrastructure and solutions to ensure optimum oil & gas security. With rise in the implementation of bring-your-own-device in oil & gas companies and the development of highly sophisticated cyber-attacks on oil & gas facilities, the need for oil & gas defense applications and services is projected to play a crucial role in stimulating growth of the industry. However, lack of knowledge of the latest oil & gas safety and services offerings, notably among developing economies, acts as a key restraining factor of the market. Another major factor restraining market growth is high operating costs.
Key segments covered
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Segment |
Subsegment |
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Type |
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Application |
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COVID-19 scenario analysis
The global oil & gas security and service market is expected to witness decline in growth rate during the forecast period, owing to the outbreak of the COVID-19 pandemic. Governments of various countries have implemented lockdown, which has led to shutdown of factories in scores of cities and provinces across the world, thus leading to predictions of a sharp slowdown in the output of oil & gas industry. This pandemic situation is likely to further slowdown the world’s economic development. With the slowdown in the economic growth, the oil & gas security and service industry are anticipated to witness negative impacts.
Key benefits of the report
- This study presents the analytical depiction of the global oil & gas security and service industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global oil & gas security and service market share.
- The current market is quantitatively analyzed from 2019 to 2027 to highlight the global Oil and gas security and service market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed market analysis depending on competitive intensity and how the competition will take shape in coming years.
Questions answered in the global oil & gas security and service market research report:
- Which are the leading market players active in the global oil & gas security and service market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities of the market?
- What are the projections for the future that would help in taking further strategic steps?
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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