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Energy Security Market at an Expected Grow $67.90 Billion In 2018
Energy Security has gained importance due to increasing terrorist attack and cyber security threats. Along with this there is a lot of pressure from the governments to secure the energy and power plants by implementing strict regulatory policies and security compliances. Increasing energy markets in developing nations increase in extraction and distribution infrastructure and nations giving more importance to protect the existing power and energy infrastructure, have radically given a boost to the energy security market.
It has been forecasted that by 2013, the North American market will project the largest market opportunity for energy security market, at an estimated market share of 32.3% of the overall market. North America and Europe together are estimated to account for 59.6% of the global market in 2013. MarketsandMarkets’ report on theEnergy Security Market: Global Advancements, Adoption Roadmaps, Forecasts and Analysis (2013 – 2018)” is now forale.
According to the announcements of findings, the global energy security market is estimated at $49.27 billion in 2013 and expected to grow to $67.90 billion in 2018. This represents an estimated Compound Annual Growth Rate (CAGR) of 6.6% from 2013 to 2018. In the current scenario, the oil and gas energy security continue to be the largest segment, in terms of spending and adoption, for energy security solutions. This is followed by nuclear energy security. In terms of regions, North America is expected to be the biggest market on the basis spending and adoption for energy security solutions.
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