Global Energy Security Market is Forecast to Surpass US$17.5 billion in 2024, with Strong Revenue Growth Through to 2034

DUBLIN, March 27, 2024 /PRNewswire/ -- The "Energy Security Market Report 2024-2034" report has been added to ResearchAndMarkets.com's offering.

World revenue for the Energy Security Market is forecast to surpass US$17.5 billion in 2024, with strong revenue growth through to 2034. 

Climate Change and Extreme Weather Events: Risks to Energy Infrastructure

Climate change-related impacts, including extreme weather events such as hurricanes, storms, heatwaves, and wildfires, pose significant risks to energy infrastructure and supply chains, affecting energy security. Disruptions to power generation, transmission, and distribution networks can lead to outages, economic losses, and societal impacts. Enhancing resilience and adaptive capacity through infrastructure upgrades, climate-resilient design, and disaster preparedness measures is essential for mitigating climate-related risks to energy security.

Climate change-related impacts, including extreme weather events such as hurricanes, storms, heatwaves, and wildfires, pose significant risks to energy infrastructure and supply chains, affecting energy security. Disruptions to power generation, transmission, and distribution networks can lead to outages, economic losses, and societal impacts. Enhancing resilience and adaptive capacity through infrastructure upgrades, climate-resilient design, and disaster preparedness measures is essential for mitigating climate-related risks to energy security.

Escalating Demand for Energy Coupled with the Increasing Complexity of the Global Energy Landscape

The global energy security market plays a pivotal role in safeguarding the uninterrupted supply, distribution, and reliability of energy resources in the face of various threats and challenges. As nations strive for economic development and sustainability, ensuring the resilience of energy infrastructure has become a critical imperative. This executive summary provides an overview of the key drivers, opportunities, challenges, and competitive landscape shaping the energy security market.

The energy security market is primarily driven by the escalating demand for energy, coupled with the increasing complexity of the global energy landscape. Rapid urbanization, industrialization, and population growth contribute to the surge in energy consumption, necessitating robust security measures. Geopolitical uncertainties, natural disasters, and cyber threats further underscore the need for comprehensive energy security solutions. Additionally, the transition to renewable energy sources introduces new dynamics, requiring adaptive strategies to secure diverse and decentralized energy supply chains.

Lack of Apprehension about Security Implementation by Operators

One significant restraining factor in the energy security market is the lack of apprehension about security implementation by operators. Despite the increasing frequency and sophistication of cyber threats and physical vulnerabilities in the energy sector, some operators may not fully grasp the importance of robust security measures. This lack of awareness or urgency among operators poses a considerable risk to the overall security posture of energy infrastructure. In many cases, energy operators may underestimate the potential impact of security breaches, both in terms of operational disruptions and the broader consequences for national or regional energy stability. This lack of apprehension could result from a perception that their specific facilities are not likely targets or a general underestimation of the evolving nature of security threats facing the energy industry.

Key Market Dynamics

Market Driving Factors

• Increased Government Pressure and Security Compliance Driving the Market Growth
• Increase in Threats from Terrorist and Cyber Attacks
• Increasing Investment in Energy Sector driving the Market Growth

Market Restraining Factors

• Lack of Apprehension about Security Implementation by Operators
• Failure to Attract International Investment Hinder the Market Growth
• Lack of Skilled Manpower and Poorly Developed Infrastructure for Developing Conventional and Unconventional Energy

Market Opportunities

• Partnership and Collaboration between Market Players 
• Increasing Pipeline infrastructure Opportunities
• Current and Emerging Technologies in Energy Security

Forecasts to 2034 and other analyses reveal commercial prospects

• In addition to revenue forecasting to 2034, this new study provides you with recent results, growth rates, and market shares.
• You will find original analyses, with business outlooks and developments.
• Discover qualitative analyses (including market dynamics, drivers, opportunities, restraints and challenges), cost structure, impact of rising energy security prices and recent developments.

Segments Covered in the Report

Market Segment by Components

• Supervisory Control and Data Acquisition Systems (SCADA)
• Physical Security Devices
• Cybersecurity Hardware

Market Segment by Infrastructure Type

• Power Plants Security
• Transmission Security
• Distribution Network Security
• Oil and Gas Infrastructure Security

Market Segment by Solutions

• Physical Security Solutions
• Cybersecurity Solutions
• Surveillance Systems
• Monitoring Systems
• Other Solutions

In addition to the revenue predictions for the overall world market and segments, you will also find revenue forecasts for four regional and 20 leading national markets.

The report also includes profiles and for some of the leading companies in the Energy Security Market, 2024 to 2034, with a focus on this segment of these companies' operations.

Leading companies profiled in the report

• ABB Ltd.
• BAE Systems plc
• Cisco Systems, Inc.
• General Electric Company
• Honeywell International Inc.
• Huawei Technologies Co., Ltd.
• IBM
• Leidos Holdings
• Lockheed Martin
• Northrop Grumman
• Raytheon Technologies
• Schneider Electric
• Siemens AG
• Teledyne FLIR
• Thales Group

In summary, the report provides you with the following knowledge:

• Revenue forecasts to 2034 for Energy Security Market, 2024 to 2034 Market, with forecasts for components, infrastructure type, and solutions, each forecast at a global and regional level - discover the industry's prospects, finding the most lucrative places for investments and revenues.
• Revenue forecasts to 2034 for four regional and 20 key national markets - See forecasts for the Energy Security Market, 2024 to 2034 market in North America, Europe, Asia-Pacific, Latin America and Middle East & Africa. Also forecasted is the market in the US, Canada, Brazil, Germany, France, UK, Italy, China, India, Japan, and Australia among other prominent economies.
• Prospects for established firms and those seeking to enter the market - including company profiles for 15 of the major companies involved in the Energy Security Market, 2024 to 2034.

For more information about this report visit https://www.researchandmarkets.com/r/ky6csj

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