“Cloud Security in Energy Sector Market Report 2019-2023” helps the consumer to take business decisions and to understand strategies of major players in the industry. The report also calls for market-determined results deriving feasibility survey for consumer needs. Global Cloud Security in Energy Sector Market Report ensures qualified and verifiable aspects of market data operating in the real-time scenario. The analytical studies are conducted ensuring consumer needs with a complete understanding of market capacities in the real-time scenario.
Top Listed Players in Cloud Security in Energy Sector Market Research Report 2019-2023:
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Cloud Security in Energy Sector market reports provide a comprehensive overview of the worldwide market size and share. Cloud Security in Energy Sector market data reports also provide a 5-year historic, forecast for the sector, and include data on social-economic data of global. Key stakeholders can consider statistics, tables & figures mentioned in this report for strategic planning which lead to success of the organization.
Overview of Cloud Security in Energy Sector Market Report:
The global cloud security market in energy sector is projected to register a CAGR of 9.68% over the forecast period (2019 - 2023). The scope of the report constitutes of solutions offered by major players, including providers of hardware, software, customized products professional services, and integration solutions, either in security-based segments (application, database, etc.), or the on-the-service model type (IaaS, PaaS, and SaaS). The study offers the market insights on the regions considered in the scope of the report (North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa). The study also emphasizes on various deployment channels of the security classified as private, public, or hybrid clouds.
Innovation, Equipment Connectivity, and Malware Emergence in the Energy Sector
The energy sector has undergone a wave of innovation and the application of electronic and digital equipment and information technology has allowed it to bring parts of the system together. This synchronization and simulation have allowed the energy sector to use some of the ground-breaking technologies. PLC, SCADA, and DCS have made the operations of collecting data, moving, and controlling machines, valves, actuators, etc. by programs, logical, simple, and something that can be done on a continuous basis. With these devices, interconnectivity has evolved the threats of a security breach. Incidents like the Shamoon malware attacks in November 2016 and January 2017 against Gulf state organizations have made security imperative for the energy sector. The upstream, midstream, and downstream of all the levels in the energy sector have become prone to cyber-attacks and security is the utmost need to avoid any downtime. Any stopping or destruction of the energy sector services can prove catastrophic, as many other industries (chemical and power) are directly or indirectly dependent for their operations on them.
Alongside the increasing connectivity, the number of electronic control units and codes length aligning the processes have increased the complexity of the products. Thus, the concerns for cyber security are on the rise. Furthermore, in the energy sector market, it is difficult to monitor the security policies at every stage as the industry operates on a large scale to reduce the operating cost to revenue ratio. To counter these security risks, cloud security has become an indispensable aspect of the energy sector. Also, the government regulations and evolving industry standards of operations have been instrumental in driving the adoption of cloud security in energy sector market.
Application-related Threats and Security in the Energy Sector
To monitor and control the physical processes across the oil & gas segment, the energy sector applications use operational technology. This is done by acquiring process variable data, such as temperatures, pressures, levels, and valve positions, and further analyzing this data, to automate processes.
This automation of processes or parts becomes possible by means of electric, mechanical, hydraulic, pneumatic actuators, and control valves, getting handled and 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. Industry 4.0 developments, the pressure to reduce operational expenditure to net sales, 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. This has boosted the security approach, due to the participation of all the stakeholders in the supply chain to safeguard it from any security breach-associated vulnerabilities.
Since these systems control various vital operation and process-related equipment and machinery, from sensors to data acquisition systems, there is a need for resilient security applications to prevent intrusions and breaches. Thus, the need contributes positively to the growth of the application security segment.
Growing Concerns over Cloud Security
The demand for greater accessibility and visibility of products and services used for end users, like apps, creates a range of new vulnerabilities that were previously never faced. Furthermore, the increased collection of customer information (personal and financial) is increasing the susceptibility to a data breach from the attack and thefts in this domain. As the access to internet increases, energy companies are required to effectively manage the security for mobile devices and apps used by workers in the field. Also, with the IoT rise, the data generated from these sensor-driven devices needs be protected as it can also cause the loss of intellectual property. The systematic integration of IT eases the work process load, although it increases the risk to the critical infrastructure. The present aging infrastructure may present compatibility and various other integration issues. Furthermore, this will require improved workforce, trained to recognize and avoid breaches.
Software-based Solutions to Witness the Greatest Adoption
The technology solutions & cloud platforms segment has witnessed substantial growth over the years. It becomes clearer with the perspective of the market players as the cloud segment of the company, IBM Corporation, provides a set of hybrid cloud services, which include assisting clients with building their clouds, like private clouds, thus allowing clients to utilize cloud infrastructure services and create environments linking their private and public workloads together.
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Valuable Points from Cloud Security in Energy Sector Market Research Report 2019-2023:
- A complete background analysis, which includes a valuation of the parental Cloud Security in Energy Sector Market.
- Significant changes in Market dynamics.
- Cloud Security in Energy Sector Market segmentation according to Top Regions.
- Current, Historical, and projected the size of the Cloud Security in Energy Sector Market from the viewpoint of both value and volume.
- Reporting and assessment of recent industry developments.
- Cloud Security in Energy Sector Market shares and strategies of key Manufacturers.
- Emerging Specific segments and regional for Cloud Security in Energy Sector Market.
- An objective valuation of the trajectory of the Market.
- Recommendations to Top Companies for reinforcement their foothold in the market.
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Highlights of the following key factors:
- Business description-A detailed description of the company’s operations and business divisions.
- Corporate strategy –Analyst’s summarization of the company’s business strategy.
- SWOT Analysis-A detailed analysis of the company’s strengths, weakness, opportunities, and threats.
- Company history –Progression of key events associated with the company.
- Major products and services-A list of major products, services, and brands of the company.
- Key competitors –A list of key competitors to the company.
- Important locations and subsidiaries –A list and contact details of key locations and subsidiaries of the company.
- Detailed financial ratios for the past five years –The latest financial ratios derived from the annual financial statements published by the company with 5 years history.
Top Most Regions Covered In Cloud Security in Energy Sector Market Research Report 2019-2023:
- North America (the USA, Canada, and Mexico)
- Europe (Germany, France, UK, Russia, and Italy)
- Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)
- South America, Middle East, and Africa
Conclusively, this report will provide you a clear view of each facet of the market without a need to refer to any other research report or a data source. Our report will provide you with all the facts about the past, present, and future of the concerned Market.
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