TechNavio Announces the Publication of its Research Report - Global Energy Security Market 2014-2018
January 20, 2014
TechNavio recognizes the following companies as the key players in Global Energy Security Market: ABB Group, Aegis Defence Services Ltd., BAE Systems plc, Cassidian SAS, Elbit Systems Ltd., Ericsson A.B., Flir Systems Inc., Honeywell International Inc., and Siemens AG.
Commenting on the report, an analyst from TechNavio's team said: "It is estimated that smart grid investment worldwide will be approximately US$200 billion by 2015. The emergence of the smart grid is facilitating the growth of several technologies, including those deployed in the Global Energy Security market. The Smart Grid segment includes smart grid applications such as smart energy meters, SCADA systems, and IT networks. As the smart grid deployment increases the networking within the power grid, which can be hacked, the energy security technology can hold a considerable share in the Smart Grid market, which is witnessing a rapid growth. This is in turn promoting the growth of the Global Energy Security market. "
According to the report, one of the major drivers in this market is the increased threats of cyber-attacks. The increase in technological advancements has led to increased network connectivity in various power utilities, which has in turn led to an increase in the chances of cyber-attack in power utilities. This increase in cyber-attacks in various power utilities is one of the major driving factors of the Global Energy Security market.
Further, the report states that one of the major challenges in this market is the unpredictability of cyber threats. The occurrence of cyber-attacks cannot be easily predicted, as the cyber threats in an organization emerge much faster compared to the defense mechanism adopted by an organization. This can have a negative impact on the growth of the Global Energy Security market in the near future.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors. For further information on this report, please visit http://www.technavio.com/report/global-energy-security-market-2014-2018
TechNavio, the market research platform of Infiniti Research Ltd., publishes periodic market research reports on niche and emerging technologies. For more information on our market research, please visit http://www.technavio.com/energy