Global Cybersecurity in Energy Sector Market is valued at approximately USD 9.61 billion in 2023 and is anticipated to grow with a healthy growth rate of more than 11.7% over the forecast period 2024-2032. Cybersecurity in the energy sector involves a broad spectrum of tools, practices, and techniques closely linked to operational and information technology security. This approach employs protective and responsive measures to safeguard networks and information against attacks and compromises. Consequently, cybersecurity plays a crucial role in energy security, ensuring the supply of power, heat, and fuel to modern societies. Given its heavy reliance on interconnected computer systems and industrial control systems, the energy sector is particularly vulnerable to cyber threats, which can lead to large-scale disruptions if security measures are inadequate.
Moreover, cybersecurity solutions in the energy sector utilize legacy malware protection, web filtering, and advanced threat defense to shield users from internet-borne threats and assist enterprises in enforcing internet policy compliance. Various cybersecurity solutions and services are also deployed to enhance the overall effectiveness of the energy supply chain.
The market growth for cybersecurity in the energy sector is driven by the digitalization of energy services, which brings numerous advantages. This shift in trends, expectations, and behavior in the energy market has led to an increased need to secure information, data, and devices, thus propelling the market forward. The rise in cyber-attacks targeting the energy industry for large-scale operations further fuels market growth. However, high acquisition costs and the complexities associated with cybersecurity hinder market expansion. Nonetheless, technological advancements in cybersecurity, including the integration of artificial intelligence (AI) and automation, are anticipated to drive market growth in the coming years. The growing adoption of digital practices for various operations in the energy sector also presents lucrative opportunities for market expansion.
The key regions considered for the global cybersecurity in energy sector market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America dominated the market in 2022 and is expected to retain its leading position during the forecast period due to the rising demand for cloud-enabled activities in the energy and power sector and increasing government mandates for cybersecurity practices. Meanwhile, Asia-Pacific is projected to witness significant growth owing to the need to support secure enterprise mobility practices and the surge in targeted cyberattacks in the energy sector, attributed to the use of outdated security systems within the region.
Major market players included in this report are:
- Cisco (US)
- IBM (US)
- Siemens (Germany)
- Microsoft (US)
- Hitachi (Japan)
- Schneider Electric (France)
- Huawei (China)
- Intel (US)
- NEC (Japan)
- ABB (Switzerland)
- Ericsson (Sweden)
- Oracle (US)
- Fujitsu (Japan)
- Honeywell (US)
- Accenture (Ireland)
The detailed segments and sub-segment of the market are explained below:
By Deployment Model:
By Enterprise Size:
- Small and Medium-sized Enterprises (SME)
- Large Enterprises
By End User:
- Industrial
- Commercial
- Residential
By Component:
By Region:
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- RoAPAC
- Latin America
- Brazil
- Mexico
- RoLA
- Middle East & Africa
- Saudi Arabia
- South Africa
- RoMEA
Years considered for the study are as follows:
- Historical year - 2022
- Base year - 2023
- Forecast period - 2024 to 2032
Key Takeaways:
- Market Estimates & Forecast for 10 years from 2022 to 2032.
- Annualized revenues and regional level analysis for each market segment.
- Detailed analysis of geographical landscape with Country level analysis of major regions.
- Competitive landscape with information on major players in the market.
- Analysis of key business strategies and recommendations on future market approach.
- Analysis of competitive structure of the market.
- Demand side and supply side analysis of the market.
Table of Contents
Chapter 1. Global Cybersecurity in Energy Sector Market Executive Summary
- 1.1. Global Cybersecurity in Energy Sector Market Size & Forecast (2022- 2032)
- 1.2. Regional Summary
- 1.3. Segmental Summary
- 1.3.1. By Deployment Model
- 1.3.2. By Enterprise Size
- 1.3.3. By End User
- 1.3.4. By Component
- 1.4. Key Trends
- 1.5. Recession Impact
- 1.6. Analyst Recommendation & Conclusion
Chapter 2. Global Cybersecurity in Energy Sector Market Definition and Research Assumptions
- 2.1. Research Objective
- 2.2. Market Definition
- 2.3. Research Assumptions
- 2.3.1. Inclusion & Exclusion
- 2.3.2. Limitations
- 2.3.3. Supply Side Analysis
- 2.3.3.1. Availability
- 2.3.3.2. Infrastructure
- 2.3.3.3. Regulatory Environment
- 2.3.3.4. Market Competition
- 2.3.3.5. Economic Viability (Consumer's Perspective)
- 2.3.4. Demand Side Analysis
- 2.3.4.1. Regulatory frameworks
- 2.3.4.2. Technological Advancements
- 2.3.4.3. Environmental Considerations
- 2.3.4.4. Consumer Awareness & Acceptance
- 2.4. Estimation Methodology
- 2.5. Years Considered for the Study
- 2.6. Currency Conversion Rates
Chapter 3. Global Cybersecurity in Energy Sector Market Dynamics
- 3.1. Market Drivers
- 3.1.1. Surge in Demand for Cloud-based Cybersecurity Solutions in the Energy Sector
- 3.1.2. Increasing Cyber Attacks on the Energy Industry
- 3.2. Market Challenges
- 3.2.1. High Acquisition Costs and Complexities
- 3.2.2. Complexities of Device Security
- 3.3. Market Opportunities
- 3.3.1. Technological Advancements in Cybersecurity
- 3.3.2. Rise in Adoption of Digital Practices
Chapter 4. Global Cybersecurity in Energy Sector Market Industry Analysis
- 4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.1.6. Futuristic Approach to Porter's 5 Force Model
- 4.1.7. Porter's 5 Force Impact Analysis
- 4.2. PESTEL Analysis
- 4.2.1. Political
- 4.2.2. Economical
- 4.2.3. Social
- 4.2.4. Technological
- 4.2.5. Environmental
- 4.2.6. Legal
- 4.3. Top investment opportunity
- 4.4. Top winning strategies
- 4.5. Disruptive Trends
- 4.6. Industry Expert Perspective
- 4.7. Analyst Recommendation & Conclusion
Chapter 5. Global Cybersecurity in Energy Sector Market Size & Forecasts by Deployment Model 2022-2032
- 5.1. Segment Dashboard
- 5.2. Global Cybersecurity in Energy Sector Market: Deployment Model Revenue Trend Analysis, 2022 & 2032 (USD Billion)
- 5.2.1. On-Premise
- 5.2.2. Cloud
Chapter 6. Global Cybersecurity in Energy Sector Market Size & Forecasts by Enterprise Size 2022-2032
- 6.1. Segment Dashboard
- 6.2. Global Cybersecurity in Energy Sector Market: Enterprise Size Revenue Trend Analysis, 2022 & 2032 (USD Billion)
- 6.2.1. Small and Medium-sized Enterprises (SME)
- 6.2.2. Large Enterprises
Chapter 7. Global Cybersecurity in Energy Sector Market Size & Forecasts by End User 2022-2032
- 7.1. Segment Dashboard
- 7.2. Global Cybersecurity in Energy Sector Market: End User Revenue Trend Analysis, 2022 & 2032 (USD Billion)
- 7.2.1. Industrial
- 7.2.2. Commercial
- 7.2.3. Residential
Chapter 8. Global Cybersecurity in Energy Sector Market Size & Forecasts by Component 2022-2032
- 8.1. Segment Dashboard
- 8.2. Global Cybersecurity in Energy Sector Market: Component Revenue Trend Analysis, 2022 & 2032 (USD Billion)
- 8.2.1. Solution
- 8.2.2. Services
Chapter 9. Global Cybersecurity in Energy Sector Market Size & Forecasts by Region 2022-2032
- 9.1. North America Cybersecurity in Energy Sector Market
- 9.1.1. U.S. Cybersecurity in Energy Sector Market
- 9.1.1.1. Deployment Model breakdown size & forecasts, 2022-2032
- 9.1.1.2. Enterprise Size breakdown size & forecasts, 2022-2032
- 9.1.1.3. End User breakdown size & forecasts, 2022-2032
- 9.1.1.4. Component breakdown size & forecasts, 2022-2032
- 9.1.2. Canada Cybersecurity in Energy Sector Market
- 9.2. Europe Cybersecurity in Energy Sector Market
- 9.2.1. U.K. Cybersecurity in Energy Sector Market
- 9.2.2. Germany Cybersecurity in Energy Sector Market
- 9.2.3. France Cybersecurity in Energy Sector Market
- 9.2.4. Spain Cybersecurity in Energy Sector Market
- 9.2.5. Italy Cybersecurity in Energy Sector Market
- 9.2.6. Rest of Europe Cybersecurity in Energy Sector Market
- 9.3. Asia-Pacific Cybersecurity in Energy Sector Market
- 9.3.1. China Cybersecurity in Energy Sector Market
- 9.3.2. India Cybersecurity in Energy Sector Market
- 9.3.3. Japan Cybersecurity in Energy Sector Market
- 9.3.4. Australia Cybersecurity in Energy Sector Market
- 9.3.5. South Korea Cybersecurity in Energy Sector Market
- 9.3.6. Rest of Asia Pacific Cybersecurity in Energy Sector Market
- 9.4. Latin America Cybersecurity in Energy Sector Market
- 9.4.1. Brazil Cybersecurity in Energy Sector Market
- 9.4.2. Mexico Cybersecurity in Energy Sector Market
- 9.4.3. Rest of Latin America Cybersecurity in Energy Sector Market
- 9.5. Middle East & Africa Cybersecurity in Energy Sector Market
- 9.5.1. Saudi Arabia Cybersecurity in Energy Sector Market
- 9.5.2. South Africa Cybersecurity in Energy Sector Market
- 9.5.3. Rest of Middle East & Africa Cybersecurity in Energy Sector Market
Chapter 10. Competitive Intelligence
- 10.1. Key Company SWOT Analysis
- 10.2. Top Market Strategies
- 10.3. Company Profiles
- 10.3.1. Cisco
- 10.3.1.1. Key Information
- 10.3.1.2. Overview
- 10.3.1.3. Financial (Subject to Data Availability)
- 10.3.1.4. Product Summary
- 10.3.1.5. Market Strategies
- 10.3.2. IBM
- 10.3.3. Siemens
- 10.3.4. Microsoft
- 10.3.5. Hitachi
- 10.3.6. Schneider Electric
- 10.3.7. Huawei
- 10.3.8. Intel
- 10.3.9. NEC
- 10.3.10. ABB
- 10.3.11. Ericsson
- 10.3.12. Oracle
- 10.3.13. Fujitsu
- 10.3.14. Honeywell
- 10.3.15. Accenture
Chapter 11. Research Process
- 11.1. Research Process
- 11.1.1. Data Mining
- 11.1.2. Analysis
- 11.1.3. Market Estimation
- 11.1.4. Validation
- 11.1.5. Publishing
- 11.2. Research Attributes