Overview and Scope
Cloud security in energy refers to the implementation of robust measures and protocols to safeguard digital assets, data, and infrastructure within cloud-based systems utilized by the energy sector. It is used for ensuring the protection of critical information, maintaining operational resilience, and mitigating potential cyber threats.
Sizing and Forecast
The cloud security in energy market size has grown rapidly in recent years. It will grow from $1.26 billion in 2023 to $1.39 billion in 2024 at a compound annual growth rate (CAGR) of 10.7%. The growth in the historic period can be attributed to operational efficiency, integration of IoT devices, digital transformation initiatives, increased complexity of IT environments, cost reduction and scalability.
The cloud security in energy market size is expected to see rapid growth in the next few years. It will grow to $2.07 billion in 2028 at a compound annual growth rate (CAGR) of 10.4%. The growth in the forecast period can be attributed to increasing adoption of cloud computing, rising cybersecurity threats, globalization of energy operations, regulatory compliance requirements, data sensitivity and confidentiality. Major trends in the forecast period include advanced persistent threats (APTs), adoption of edge computing, focus on zero trust security models, continued regulatory emphasis on security, rapid technological advancements.
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Segmentation & Regional Insights
The cloud security in energy market covered in this report is segmented –
1) By Service: Infrastructure as a service (IaaS), Platform as a service (PaaS), Software as a service (SaaS)
2) By Solution Type : Identity and Access Management, Data Loss Prevention, IDS/IPS, Security Information and Event Management, Encryption
3) By Infrastructure: Servers, Storage, Networking equipment
4) By Platforms: Amazon Web Services (AWS), Microsoft Azure, Google Cloud Platform (GCP)
North America was the largest region in the cloud security in energy market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the cloud security in energy market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The rapid adoption of IoT devices is expected to propel the growth of cloud security in the energy market going forward. The Internet of Things (IoT) refers to non-traditional computing hardware, including machines, appliances, actuators, sensors, and wirelessly connected machines that are capable of transmitting data over a network. IoT devices enable the continuous monitoring of widely distributed operations, providing real-time data for energy to optimize their processes and improve efficiency. For instance, in August 2022, according to Akamai Technologies Inc., a US-based internet company, IoT connections are expected to increase from 15.1 billion in 2021 to 23.3 billion in 2025. Therefore, the rapid adoption of IoT devices is driving the growth of cloud security in energy.
Key Industry Players
Major companies operating in the cloud security in energy market report are Amazon.com Inc., Alphabet Inc., Microsoft Corporation, Dell Technologies Inc., Huawei Technologies Co. Ltd., Siemens AG, General Electric Company, Accenture Plc, International Business Machines Corporation, Cisco Systems Inc., Oracle Corporation, Schneider Electric SE, Honeywell International Inc., Broadcom Inc., SAP SE, ABB Ltd., Salesforce.com Inc., NTT DATA Corporation, Cognizant Technology Solutions Corporation, Infosys Limited, VMware Inc., Wipro Limited, Tech Mahindra Limited, Palo Alto Networks Inc., Fortinet Inc., Red Hat Inc., Trend Micro Incorporated, Nutanix Inc., Zscaler Inc., Sophos Ltd.
The cloud security in energy market report table of contents includes:
1. Executive Summary
2. Cloud Security In Energy Market Characteristics
3. Cloud Security In Energy Market Trends And Strategies
4. Cloud Security In Energy Market – Macro Economic Scenario
5. Global Cloud Security In Energy Market Size and Growth
….
32. Global Cloud Security In Energy Market Competitive Benchmarking
33. Global Cloud Security In Energy Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Cloud Security In Energy Market
35. Cloud Security In Energy Market Future Outlook and Potential Analysis
36. Appendix
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