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Energy Security Market: Forecasts And Analysis (2013 - 2018)
There has been a significant rise in the threats and attacks on critical infrastructures all over the globe. The power plants and energy resources are also not detached from these attacks and they are posing major threats. These attacks are typical physical attacks on the facilities and cyber attacks on the networks. To safeguard the power plants and the total energy sector, almost every country and the power companies are turning towards robust energy security solutions.
There are major companies which are providing dedicated energy security solutions which include both physical security and network and cyber security solutions to safeguard the power plants. The solutions provided are highly sophisticated and provides a strong fortification to the facilities from outside threats and vulnerabilities.
Another important driving factor for the Energy Security Market is the increased government pressure and security compliance and regulations. Governments of both developed and developing nations have outlined strict measures to secure the power plants and energy facilities. The companies producing and generating energy and power have to adhere to these regulation and compliances for the overall security of the power plant. These regulations have helped the companies and the countries to safeguard the critical infrastructures.
The solutions which are available in the market are in silos and the companies have to implement these solutions according to their security protocol requirements. Foreseeing these issues, there is a large demand in the market for a complete security solution for energy security which would include physical as well as network security solutions. This demand is also driving the overall energy security market across the globe.
There has always been more emphasis on securing the facility from outside attacks and threats. But in recent times, there has been an increase in the insider attacks. Companies are focusing more on securing the restricted areas by implementing strict security policies. These policies are designed by security consulting companies for protecting the facilities from people who are working inside the plants. These issues have given a boost for the energy security consulting and professional services.
These growing trends have pushed the overall market of energy security. The global market for energy security is expected to grow from $49.27 billion in 2013 to $67.90 billion by 2018, at an estimated Compound Annual Growth Rate (CAGR) of 6.6% from 2013 to 2018.
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