Cloud Security Market in Energy Sector | Growth, Trends and Forecast (2018 - 2023)
Cloud Security Market in the Energy Sector - Segmented By Solution Type (Identity and Access Management, Data Loss Prevention, IDS/IPS), Security Type (Application, Security, Database Security, Endpoint Security, Network Security, Web & Email Security), Service Model (IaaS, PaaS, SaaS), Deployment Type (Public Cloud, Private Cloud, Hybrid Cloud), and Region - Growth, Trends, and Forecast (2018 - 2023)


MAR 2018

Cloud Security Market in the Energy Sector - Segmented By Solution Type (Identity and Access Management, Data Loss Prevention, IDS/IPS), Security Type (Application, Security, Database Security, Endpoint Security, Network Security, Web & Email Security), Service Model (IaaS, PaaS, SaaS), Deployment Type (Public Cloud, Private Cloud, Hybrid Cloud), and Region - Growth, Trends, and Forecast (2018 - 2023)

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The global cloud security market in energy sector is expected to register a CAGR of 11.13 %, during the forecast period (2018 - 2023).  The scope of the report is limited to solutions offered by major players, such as Identity and Access Management, Data Loss Prevention, IDS/IPS, Security Information and Event Management, Encryption. While the deployment types considered in the scope of the report include Public Cloud, Private Cloud, and Hybrid Cloud.

Most   of   the   process   control   systems   that   are   designed   to   manage   critical. Cloud Security infrastructure, such  as  electric  grids,  oil  pipelines,  and  water  utilities  used  in  the energy sector, utilize specialized hardware and proprietary protocols. While their introduction has simplified the management of facilities, they have also made process control systems vulnerable to cyberattacks. Major incidents,  such  as  the  shutdown  of  several  Iranian  nuclear  centrifuges  by Stuxnet  malware  in  2010,  the  Shamoon  malware  attacks  in  November  2016  and January 2017,  against  Gulf  state  organizations,  have  made  security imperative  for the energy sector. With the increased adoption of IoT and automation, coupled with the industry’s value chains increasingly relying on complex and interconnected digital assets, as well as the constant  exchange  of  data  to  carry  out  any  operation,  the  energy  sector  is exposed to the risk of cyberattacks, mainly due to the dependence on connectivity.

Increasing Number of Cyber-Attacks have emphasized the Need for Cloud Security in the Domain

IoT and Cloud Security are going to be the fastest-growing sectors in the global cyber security market, with the increasing application of smart devices in industries. The formation of hacking groups that deal with ethical and large-frame hacking, causing huge losses, has created a dire need for cyber security in the market. The recent realization for the need of cyber security has led to many countries setting up government regulations and laws to establish a framework for information security. Network security and data loss prevention will be the priority for industries with a considerable amount of money being wasted in trying to recover data that is lost through these attacks. The total number of reported cybersecurity incidents has witnessed a steep increase over the past few years, leading to increased emphasis on data security and protection. According to a survey by IBM outsider attacks account for close to 44% of the total attacks, followed by malicious insiders (23%), with the latter recording a steep rise in the past few years.


Application Security expected to be one-of-the Fastest Growing Security Type

The applications  in  the  energy  sector  use  operational  technology  to  monitor and control the physical processes across the  oil & gas sector, by means of acquiring process variable data, such as temperatures, pressures, levels, valve positions, etc., and further analyze this data, in order to automate processes. This automation is made possible by means of electric, mechanical, hydraulic, pneumatic actuators,  and  control  valves,  which  are  operated  by  industrial automation and control systems, such as SCADA, distributed control systems (DCS),  programmable  logic  controllers  (PLCs),  open platform  communication (OPC) servers, and field devices.

 The applications that control these systems are known to be the most targeted areas, since they are used to control and automate all the operations of factories. With the  adoption  of  Industry  4.0,  coupled  with  the  increased  demand  for transparency through all the operations of the industry supply chain, industrial automation and control systems  have witnessed robust adoption.

Europe has witnessed a High Growth for Cloud Security on Energy Sector Market

Industry 4.0 witnessed an increased adoption in the energy sector in Europe, with improved methods for producing, delivering, and consuming energy. These new policies and government regulations are aimed at mitigating the threat of climate change, fluctuating energy prices, and supply concerns. For    instance    Germany    launched    a    renewable-energy    revolution, known as Energiewende, for solar, wind, and hydroelectric power, as well as smart grid operations. Nuclear energy is the primary source of electric energy in France. These utilities  have  adopted  automation  to  enhance  their  processes  and plant efficiency,  through  plant-specific  modification  and  upgrades  with  latest  digital technologies across their upstream, downstream, and midstream operations. Digitalization of the energy sector in Europe is at the core of all major commission initiatives, such as the Digital Single Market, the Energy Union package, and the Single Market strategy.  These initiatives are aimed at ensuring appropriate cybersecurity for operators, manufacturers, and end-users

Key Developments in the Market 

  • November 2017 - IBM   announced   the   successful   testing   of   a   fully-integrated wavelength division multiplexing (WDM) Si photonics chip for Big Data and Cloud services, enabling the download of an entire HD digital movie in two seconds
  • October 2017 - IBM leveraged the Cleversafe acquisition to spin out the Cloud Object Storage Service.  The new service rollout leverages the SecureSlice technology from IBM's acquisition of Cleversafe, a developer and manufacturer of object-based storage software and appliances

Major Players: IBM Corporation, Intel Security, Symantec Corporation, Cisco Systems, Inc., CA Technologies, Computer Science Corporation (CSC), Qualys, Inc., Nutanix, Netskope, Inc., and ProtectWise., amongst others.

Reasons to Purchase this Report

  • Growing cyber-attacks act as a driver to the global Cloud Security Market in Energy sector market scenario
  • Analyzing various perspectives of the market with the help of Porter’s five forces analysis
  • The type of Solution that is expected to dominate the market is analyzed in detail
  • The regions that are expected to witness fastest growth during the forecast period are analyzed and estimated for growth
  • Identify the latest developments, market shares, and strategies employed by the major market players
  • 3-month analyst support, along with the Market Estimate sheet in excel

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1. Introduction

                1.1 Key Study Deliverables

                1.2 Market Definition

                1.3 Study Assumptions

2. Research Methodology

3. Executive Summary

4. Market Insights

                4.1 Market Overview

                4.2 Indusrty Attractiveness- Porter'S Five Forces Analysis

                                4.2.1 Threat of New Entrants

                                4.2.2 Bargaining Power of Suppliers

                                4.2.3 Bargaining Power of Consumers

                                4.2.4 Threat of Substitute Products

                                4.2.5 Intensity of Competitive Rivalry

                4.3 Industry Value Chain Analysis

5. Market Dynamics

                5.1 Market Drivers

                                5.1.1 Increasing Adoption of IoT across the Supply Chain

                                5.1.2 Increasing Number of Cyber Threats

                5.2 Market Restraints

                                5.2.1 Integration with Existing Architecture

6. Technology Snapshot

7. Global Cloud Security Market Segmentation

                7.1 By Solution Type

                                7.1.1 Identity and Access Management

                                7.1.2 Data Loss Prevention

                                7.1.3 IDS/IPS

                                7.1.4 Security Information and Event Management

                                7.1.5 Encryption

                                7.1.6 Others

                7.2 By Security Type

                                7.2.1 Application Security

                                7.2.2 Database Security

                                7.2.3 Endpoint Security

                                7.2.4 Network Security

                                7.2.5 Web & Email Security

                7.3 Service Model

                                7.3.1 Infrastructure-as-a-Service

                                7.3.2 Platform-as-a-Service

                                7.3.3 Software-as-a-Service

                7.4 Deployment Type

                                7.4.1 Public Cloud

                                7.4.2 Private Cloud

                                7.4.3 Hybrid Cloud

                7.5 By Geography

                                7.5.1 North America

                                7.5.2 Europe

                                7.5.3 Asia-Pacific

                                7.5.4 Latin America

                                7.5.5 Middle East & Africa

8. Vendor Market Share

9. Key Vendor Profiles

                9.1 IBM Corporation

                9.2 Intel Security

                9.3 Symantec Corporation

                9.4 Cisco Systems, Inc.

                9.5 CA Technologies

                9.6 Computer Science Corporation (CSC)

                9.7 Qualys, Inc.

                9.8 Nutanix

                9.9 Netskope, Inc.

                9.10 ProtectWise

              *List not Exhaustive

10. Investment Analysis

                10.1 Recent Mergers And Acquisitions

                10.2 Investment Scenario And Opportunities

11. Future Of Cloud Security Market in Energy Sector

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