The security of the operational technology (OT) such as supervisory control and data acquisition (SCADA) and distributed control system (DCS) from cyber-attacks and data theft oil and gas security is known as oil and gas security. The increase in cyber-attacks on the OT of oil and gas companies creates an enormous need of security in the market. The protection from various cyber threats and data security breaches are the major advantages, while constant need to upgrade the security and huge capital cost are some disadvantages of oil and gas security.
The increased expenditure by the oil and gas companies on network & OT security and increased trend of security & vulnerability management drives the oil and gas security market. In addition, growth in trend of bring your own device (BYOD) in oil & gas sector and political chaos in the Middle East fuels the market growth. Increase in regulatory compliances, which makes technical implementation difficult in the oil & gas market restrains the market growth. Rise in adoption of Internet of Things (IoT) and demand for security-as-a-service (SaaS) creates ample opportunities in the market. Lack of awareness about oil & gas security, difficulties in implementation of cyber security for complicated OT, and the vulnerabilities associated with cloud technologies challenge the growth of the oil and gas security market.
The oil and gas security market is identified by regional as well as international players. The key players adopt new product launches, partnerships, agreements, and collaborations to expand their reach and increase the product portfolio in the market. For instance, a leading innovator, CNL Software Ltd. launched IPSecurityCenter on June 2017. The technology uses drones to increase situational awareness along with the integration cyber security of OT.
The market is segmented by applications, service type, and region. Based on application, it is divided into drilling and exploration, refining & storage, and distribution & transport. Based on service type, it is classified into risk management and managed services. Based on geography, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Comprehensive analysis and profiles of the major market players profiled in the report, include Honeywell International Inc., Intel Security LLC, Microsoft Corporation, Siemens, Symantec Corporation, ABB Ltd., Cisco Systems, Inc., Lockheed Martin Corporation., United Technologies Corporation., and Waterfall Security Solutions Ltd.
- This report is an extensive analysis of current and potential market trends.
- The report contains in depth quantitative analysis of current and future market estimations through 20162023, which helps recognize the growth opportunities.
- Extensive analysis of the market helps understand the current practices for the better investment decisions.
- Key market players are profiled and their strategies are analyzed thoroughly, which helps understand the competitive outlook of the market.
- Extensive analysis of the market is conducted by monitoring the top competitors within the market framework.
- Comprehensive analysis of factors that drive and restrict the growth of the market is provided.
Oil And Gas Security Market Key Segments:
- Drilling & Exploration
- Refining & Storage
- Distribution and Transport
By Service Type
- Risk Management Services
- Managed Services
- North America
- Rest of Europe
- Rest of Asia-Pacific
- Latin America
- Middle East