Energy Security Market by Offering, Security Type, Power Plant Type

List of Tables

[198 Pages Report] The Energy Security Market size was estimated at USD 71.20 billion in 2023 and expected to reach USD 75.49 billion in 2024, at a CAGR 6.53% to reach USD 110.89 billion by 2030.

Energy security encompasses a broad array of technologies, strategies, and services to ensure the energy supply's continuous availability, reliability, and resilience. This concept aims to mitigate risks related to the energy sector, including physical, cyber, supply chain, and regulatory threats that can affect energy production, distribution, and consumption. Energy security solutions include the deployment of advanced physical and cybersecurity technologies, emergency preparedness systems, sophisticated monitoring and surveillance tools, and infrastructure hardening measures. These solutions are designed to protect energy production facilities, transmission and distribution networks, and energy storage installations from intentional sabotage, natural disasters, and other disruptions. The factors impacting the growth of the energy security market include rising energy demand worldwide, increasing threats from terrorist and cyber-attacks, rising government pressure and security compliance and regulations, and a lack of comprehensive solutions for energy security. However, the market faces limitations due to the high initial investment required to implement advanced security solutions, especially in emerging economies. Furthermore, the complexity of energy systems and the need for specialized skills to manage and protect these systems present challenges. Moreover, recent opportunities in the energy security market are primarily attributed to the incorporation of renewable energy origins into the grid, necessitating new security approaches to manage intermittency and grid stability. The digital transformation of energy systems presents opportunities for innovation in cybersecurity solutions to protect against an evolving landscape of cyber threats.

KEY MARKET STATISTICS
Base Year [2023]	USD 71.20 billion
Estimated Year [2024]	USD 75.49 billion
Forecast Year [2030]	USD 110.89 billion
CAGR (%)	6.53%

Offering: Increasing preference for energy security solutions for protecting against cyber threats

Protecting against cyber threats is imperative owing to the digitization of energy infrastructure. Firewalls & antivirus programs are foundational cybersecurity measures designed to protect energy systems from malware, ransomware, and unauthorized access. They act as the first line of defense in safeguarding operational and information technology systems used in energy generation, transmission, and distribution. Intrusion detection & prevention systems (IDPS) are advanced solutions that scrutinize network and system movements for malicious actions or policy violations. They play a critical role in determining and mitigating potential threats before they impact the energy infrastructure. Security information & event management (SIEM) solutions offer real-time analysis and logging of security alerts generated by applications and network hardware. Energy storage and management solutions are pivotal in ensuring the reliability and resilience of power systems. These solutions allow for the storing of excess energy produced during low-demand periods and redistribution during peak times. Access control systems confirm that only permitted personnel can access critical energy infrastructure facilities. They are crucial in preventing physical tampering, sabotage, and theft. Perimeter security includes barriers, fencing, and other physical deterrents to protect facilities from unauthorized access or attacks. Cameras and surveillance systems provide real-time monitoring of energy facilities, helping to detect, record, and respond to security breaches or suspicious activities. These systems are essential for the comprehensive security of physical assets within the energy sector. While Services and Solutions are critical to ensuring energy security, their approaches and immediate impacts differ. Services tend to focus more on the operational, strategic, and risk management aspects, providing the groundwork and strategic foresight necessary for long-term energy security. On the other hand, solutions offer tangible products and technologies that directly contribute to the stability, efficiency, and sustainability of energy supply. Managed services in the energy security domain encompass third-party providers responsible for managing and maintaining security systems and protocols. This includes real-time monitoring of energy systems, threat detection and response, and ongoing system updates and patches to address new vulnerabilities. Professional services involve specialized support, including consultation, system design, integration, and implementation services tailored to the unique needs of energy sector clients. These services are critical during the initial security measures setup and for periodic reviews and updates.

Security Type: Rising demand for long-term energy security measures to mitigate risks related to geopolitical tensions

Long-term energy security focuses on ensuring the availability of energy supply over a prolonged period, typically spanning decades. This security dimension primarily addresses the challenges of resource depletion, long-term energy demand growth, and the integration of sustainable energy sources. The preference for long-term security measures grows as nations and corporations aim to mitigate future energy risks related to geopolitical tensions, resource scarcity, and climate change. Short-term energy security revolves around the capacity to respond to immediate or near-term disruptions in the energy supply. This could be due to geopolitical conflicts, natural disasters, or sudden market shifts. The need for short-term security measures is particularly high in regions with volatile political climates or those prone to natural calamities. Long-term and short-term energy security measures are critical; however, their applicability and emphasis vary according to different scenarios. Long-term security strategies focus on sustainability and integrating renewable energy sources to address systemic challenges. Furthermore, short-term security measures are reactionary, aiming to mitigate the immediate impacts of supply disruptions.

Power Plant Type: Expanding utilization of renewable energy plants with a global push for sustainability

Renewable energy plants have witnessed exponential growth, driven by technological advancements and a global push for sustainability. They vary widely in their application and energy generation profiles. They are preferred for their potential to provide clean, sustainable energy solutions tailored to specific geographies and needs. Fossil fuel plants, utilizing coal, natural gas, or oil, have historically been the backbone of global energy supply due to their increased energy density and reliability. They are preferred in scenarios requiring constant and high-output energy production. They offer a stable and scalable power supply, which is critical for industrialized economies with high energy demands. Geothermal plants harness the Earth's internal heat, and they are preferred for their low emissions and ability to provide baseload power, similar to fossil fuel plants but with a significantly lower environmental impact. They are ideal for regions with plentiful geothermal resources, such as Iceland and Indonesia, providing a continuous power supply without the volatility of other renewable sources. Nuclear power plants offer a high-output, low-carbon energy solution. They are crucial in the transition toward sustainable energy despite concerns about safety and waste management. Nations committed to reducing carbon footprints while ensuring energy security see nuclear power as a viable solution. Fossil fuel and nuclear plants typically offer greater reliability and predictability in energy supply than variable renewable energy sources. Meanwhile, renewable energy plants and geothermal plants rank high for sustainability, with nuclear being a low-carbon alternative. Fossil fuel plants are the most problematic in terms of emissions and environmental degradation.

Regional Insights

The Americas, with a significant emphasis on both North American technological innovation in cybersecurity for energy infrastructure and South America's growing focus on securing its renewable energy expansions, has seen a robust integration of sophisticated energy security services. American companies often lead in the development and deployment of advanced security solutions, benefiting from substantial domestic investments and a mature regulatory environment that emphasizes critical infrastructure protection. The APAC region displays rapid growth in energy security demands, propelled by its dynamic economic expansion, increasing digitalization of energy systems, and heightened awareness of cyber and physical security risks in nations such as Japan, South Korea, and Australia. However, the region faces challenges due to varied levels of technological adoption and regulatory frameworks among countries, affecting the uniform application and development of energy security solutions. Companies in APAC are quickly becoming competitive, often focusing on localized solutions that cater to the region's specific security needs and regulatory landscapes. In EMEA, the scenario is markedly diversified due to the vast geopolitical differences within the region. European Union (EU) countries benefit from a harmonized regulatory approach, emphasizing resilience and security in energy supply chains, which drives the adoption of sophisticated energy security solutions. The Middle East, with its significant oil and gas infrastructure, emphasizes physical security and the protection of critical assets, while the adoption of cyber security solutions is rapidly increasing due to heightened perceived threats. African countries, with varying degrees of infrastructure maturity, increasingly recognize the importance of energy security facilitated by international partnerships and investments. The company scenario across EMEA is characterized by a blend of global players and regional specialists, with EU-based companies often leading in regulatory compliance and innovative security technologies.

FPNV Positioning Matrix

The FPNV Positioning Matrix is pivotal in evaluating the Energy Security Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Energy Security Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Key Company Profiles

The report delves into recent significant developments in the Energy Security Market, highlighting leading vendors and their innovative profiles. These include ABB Ltd., Accenture PLC, BAE Systems PLC, Cisco Systems, Inc., CyberArk Software Ltd., Det Norske Veritas Holding AS, Dragos, Inc., Duke Energy Corporation, Emerson Electric Co., Energy Security, Inc., Engie SA, Fortinet, Inc., General Electric Company, Genetec Inc., HCL Technologies Limited, Hexagon AB, Hitachi Energy Ltd., Honeywell International Inc., Iberdrola, S.A., International Business Machines Corporation, John Wood Group PLC, Johnson Controls International PLC, Lockheed Martin Corporation, Mitsubishi Heavy Industries, Ltd., Nozomi Networks, Inc., NTT Data Corporation, Qinetiq Group PLC, RTX Corporation, Schneider Electric SE, Siemens AG, Teledyne Technologies Incorporated, Tetra Tech, Inc., Thales Group, Tofino Security by Belden Inc., Trend Micro Incorporated, Waterfall Security Solutions Ltd., and Wartsila Corporation.

Market Segmentation & Coverage

This research report categorizes the Energy Security Market to forecast the revenues and analyze trends in each of the following sub-markets:

Offering
- Services
  - Managed Services
  - Professional Services

Solutions
- Cybersecurity Solutions
  - Firewalls & Antivirus Programs
  - Intrusion Detection & Prevention Systems
  - Security Information & Event Management

Energy Storage & Management Solutions
Physical Security Solutions
- Access Control Systems
- Perimeter Security
- Surveillance Systems

Security Type
- Long-Term Security
- Short-Term Security

Power Plant Type
- Fossil Fuel Plants
- Geothermal Plants
- Nuclear Power Plants
- Renewable Energy Plants

Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - California
    - Florida
    - Illinois
    - Massachusetts
    - New Jersey
    - New York
    - Ohio
    - Pennsylvania
    - Texas
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam

Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom

The report offers valuable insights on the following aspects:

1. Market Penetration: It presents comprehensive information on the market provided by key players.

2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.

3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.

4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.

5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as:

1. What is the market size and forecast of the Energy Security Market?

2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Energy Security Market?

3. What are the technology trends and regulatory frameworks in the Energy Security Market?

4. What is the market share of the leading vendors in the Energy Security Market?

5. Which modes and strategic moves are suitable for entering the Energy Security Market?

Product Code: MRR-431E6020C79D

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Growing energy demand globally with rapid urbanization
  - 5.1.1.2. Increased government pressure and security compliance and regulations
  - 5.1.1.3. Incidences of cyberattacks and data breaches in energy grid
- 5.1.2. Restraints
  - 5.1.2.1. High cost of energy security solutions and services
- 5.1.3. Opportunities
  - 5.1.3.1. Integration of renewable energy sources into smart grids
  - 5.1.3.2. Growing importance of pipeline infrastructure leading to increased extraction and distribution of the oil & gas sector
- 5.1.4. Challenges
  - 5.1.4.1. Technical limitations of energy security solutions
5.2. Market Segmentation Analysis
- 5.2.1. Offering: Increasing preference for energy security solutions for protecting against cyber threats
- 5.2.2. Security Type: Rising demand for long-term energy security measures to mitigate risks related to geopolitical tensions
- 5.2.3. Power Plant Type: Expanding utilization of renewable energy plants with a global push for sustainability
5.3. Market Trend Analysis
- 5.3.1. Reinforcing cybersecurity in grid networks and achieving energy independence and resilience through energy security in the Americas region
- 5.3.2. Expanding nuclear power plants and evolving government investments in the renewable energy sector along with pacts for energy security across Asia-Pacific
- 5.3.3. Increasing energy generation, geopolitical uncertainties, and expanding investment to strengthen and secure the energy sector in the EMEA region
5.4. Cumulative Impact of High Inflation
5.5. Porter's Five Forces Analysis
- 5.5.1. Threat of New Entrants
- 5.5.2. Threat of Substitutes
- 5.5.3. Bargaining Power of Customers
- 5.5.4. Bargaining Power of Suppliers
- 5.5.5. Industry Rivalry
5.6. Value Chain & Critical Path Analysis
5.7. Regulatory Framework Analysis

6. Energy Security Market, by Offering

6.1. Introduction
6.2. Services
6.3. Solutions

7. Energy Security Market, by Security Type

7.1. Introduction
7.2. Long-Term Security
7.3. Short-Term Security

8. Energy Security Market, by Power Plant Type

8.1. Introduction
8.2. Fossil Fuel Plants
8.3. Geothermal Plants
8.4. Nuclear Power Plants
8.5. Renewable Energy Plants

9. Americas Energy Security Market

9.1. Introduction
9.2. Argentina
9.3. Brazil
9.4. Canada
9.5. Mexico
9.6. United States

10. Asia-Pacific Energy Security Market

10.1. Introduction
10.2. Australia
10.3. China
10.4. India
10.5. Indonesia
10.6. Japan
10.7. Malaysia
10.8. Philippines
10.9. Singapore
10.10. South Korea
10.11. Taiwan
10.12. Thailand
10.13. Vietnam

11. Europe, Middle East & Africa Energy Security Market

11.1. Introduction
11.2. Denmark
11.3. Egypt
11.4. Finland
11.5. France
11.6. Germany
11.7. Israel
11.8. Italy
11.9. Netherlands
11.10. Nigeria
11.11. Norway
11.12. Poland
11.13. Qatar
11.14. Russia
11.15. Saudi Arabia
11.16. South Africa
11.17. Spain
11.18. Sweden
11.19. Switzerland
11.20. Turkey
11.21. United Arab Emirates
11.22. United Kingdom

12. Competitive Landscape

12.1. Market Share Analysis, 2023
12.2. FPNV Positioning Matrix, 2023
12.3. Competitive Scenario Analysis
- 12.3.1. Mitsubishi Electric Partners with Nozomi Networks to Strengthen Operational Technology Security
- 12.3.2. GE Vernova Secures GBP 33.6 Million UK Grant to Advance Nuclear Energy for Enhanced Energy Security and Net Zero Goals by 2050
- 12.3.3. TotalEnergies Solidifies its Energy Transition Position with Strategic Acquisition of German Battery Storage Innovator, Kyon Energy
- 12.3.4. DOE Invests USD 30 Million in Advanced Cybersecurity for Clean Energy Systems
- 12.3.5. ABB Secures Contract for Automation and Electrical Solutions at Rio Grande LNG Phase 1
- 12.3.6. EBRD Invests Euro 200 Million in Strengthening Ukraine's Energy Resilience and Transition towards Sustainability Amidst Challenges
- 12.3.7. Enhancing Energy Security in the Western Balkans Through Strategic USAID-Greece Partnership
- 12.3.8. Siemens Energy and Tenable, Inc. Expand Partnership to Enhance Energy Sector Resilience
- 12.3.9. USAID Commits up to USD 25 Million to Strengthen European Energy Security through Support for Ukraine's Energy Sector
- 12.3.10. Hitachi Joins Forces with Global Centre of Rail Excellence for Advancing UK's Green Transportation through Innovative and Sustainable Rail Solutions
- 12.3.11. Mitsubishi Electric's Strategic Investment in SCADAfence Enhancing Critical Energy Infrastructure Protection
- 12.3.12. Emerson Introduces Ovation Green a Convergence of Power and Renewable Technologies
- 12.3.13. Strategic Partnership between RWE and Equinor Aims to Enhance Energy Security and Accelerate Decarbonisation in Europe

13. Competitive Portfolio

13.1. Key Company Profiles
13.2. Key Product Portfolio