According to the new report published by Sprint Stat Research, the global cyber security market for oil and gas was valued at USD 8 Billion in 2018 and is projected to reach USD 15 Billion by 2025, at a growth rate of 9% in 2019-2025.
Today’s industrial control systems (ICS) environments in the natural gas and oil industry rely on computing technologies for advanced monitoring and control of unit processes, such as adjusting valves to regulate pressure or controlling pumps to regulate product flow located in refineries, petrochemical plants and pipeline distribution sites. These technologies in turn make operations vulnerable to cyber threats and thus the market of cyber security has flourished since then.
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Companies routinely make difficult choices to improve security over user productivity like restricting the use of removable media devices such as USBs to limit possible infections to the environment introduced via these devices, restricting web use and prohibiting access to personal email from company workstations.
Many companies routinely conduct drills with key personnel, such as a simulated data breach, to provide assurances that attacks can be detected, contained and remediated to avoid significant loss.
The cyber security market for oil and gas is segmented on the basis of application, type, and region. Based on type, the global cyber security market for oil and gas is divided into endpoint security, cloud security, network security, and application security. Exploration and drilling, pipeline and transportation, refining and storage area protection, and others are some of the applications analysed in the global cyber security market for oil and gas. Region wise, the cyber security market for oil and gas is categorized into Asia Pacific, Middle East & Africa, Latin America, North America, and Europe with its major countries.
Major players profiled in the report are BAE Systems, Fortinet, Gemalto, IBM, Juniper Networks, Micro Focus, Microsoft, Akamai, Intel, Cisco, CyberArk Software, Check Point Software Technologies, and others.
This research report provides in-depth assessment of cyber security market for oil and gas driving factors and features. The report highlights detailed analysis of this market across various countries in the region. It provides a market outlook for 2014-2025 and sets the forecast within the context of cyber security market for oil and gas, including latest technological developments as well as offerings in the market.
The report also presents a detailed overview on market segmentation. Overall, this research report shows historic, on-going, and estimated market analysis in terms of value and volume, analysis of niche industry developments and market share analysis. Detailed profiles of industry players are also included in the scope of the report to evaluate their business strategies, key offerings, and recent developments in the cyber security market for oil and gas space.
The report segments the global cyber security market for oil and gas as follows:
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