According to IMARC Group’s latest report, titled “United States Smart Grid Security Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the market size reached US$ 2.1 Billion in 2021. A smart grid refers to information technology (IT) and communication system utilized for delivery, consumption and generation of power. These systems are susceptible to security threats as they are simultaneously connected to a series of networks. Smart grid security systems maintain an efficient, cost-effective, clean and reliable power distribution across the grid. In addition to this, these solutions safeguard against data tampering by using cryptographic hardware products and authentication and encryption technologies.
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The consistent escalation in the consumption and generation of power is primarily driving the smart grid security market growth across the United States. The increasing penetration of the Internet-of-Things (IoT) and rising finesse of cyber-attacks are further fueling the market growth. Moreover, the widespread establishment of smart grid projects has inflated the demand for better security solutions in the market. This increase has also prompted governmental authorities to mandate stringent regulations and standards for smart grid operators, which is creating a positive outlook for the market in the country. Looking forward, IMARC Group expects the United States smart grid security market to reach US$ 3.7 Billion by 2027, exhibiting a growth rate (CAGR) of 9.81% during 2022-2027.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Breakup by Component:
- Antivirus and Antimalware
- Identity and Access Management (IAM)
- Managed Services
- Professional Services
Breakup by Subsystem:
- Demand Response System
- Supervisory Control and Data Acquisition (SCADA)/ Industrial Control System (ICS)
- Home Energy Management System
- Advanced Metering Infrastructure
Breakup by Deployment Type:
Breakup by Security Type:
- Endpoint Security
- Application Security
- Database Security
- Network Security
Breakup by Region:
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
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