Energy Security Market Analysis: Insights into 2030’s Growth Potential: Forecasted CAGR of 9.18% to Surge USD 31.45 Billion Milestone
[225 + Pages Report] According to a market research study published by Zion Market Research, the demand analysis of Global Energy Security Market size & share revenue was valued at around USD 15.43 billion in 2022 and is estimated to grow about USD 31.45 billion by 2030, at a CAGR of approximately 9.18% between 2023 and 2030. The key market players are listed in the report with their sales, revenues and strategies are Honeywell International Inc., Symantec Corporation, Thales Group, Aegis Defense Services Ltd, Ericsson, HCL, Cassidian, Tofino, BAE System, Raytheon, and others.
NEW YORK, United States, Oct. 02, 2023 (GLOBE NEWSWIRE) — Zion Market Research has published a new research report titled “Energy Security Market By Technologies (Network Security And Physical), By Professional Services (System Design, Integration & Consulting, Risk Management Services, And Managed Services), By Power Plants (Oil & Gas, Nuclear, Renewable Energy, And Thermal & Hydro), And By Region – Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030” in its research database.
“According to the latest research study, the demand of global Energy Security Market size & share in terms of revenue was valued at USD 15.43 billion in 2022 and it is expected to surpass around USD 31.45 billion mark by 2030, growing at a compound annual growth rate (CAGR) of approximately 9.18% during the forecast period 2023 to 2030.”
What is Energy Security? How big is the Energy Security Industry?
Energy security is achieved when all of the sources of energy can be accessed without interruption and at a price that is not prohibitive. It is dependent on a supply of energy that is dependable, economical, and sufficient, and that provides some degree of independence. Because of the unequal distribution of energy sources and the unequal availability of those sources, there is a possibility of conflict.
Energy security can be broken down into various categories: Short-term energy security places a primary emphasis on the capacity of the energy system to respond promptly and appropriately to sudden shifts in the equilibrium between supply and demand. The provision of energy to meet the requirements of the environment and the advancements made in economic development through timely investments is the primary focus of long-term security.
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Global Energy Security Market: Growth Factors
The rise in demand for energy requirements, the growing acceptance of energy security solutions at a quicker rate, and the growing necessity to protect energy sources from physical and cyberattacks are some of the main factors that are propelling the expansion of the worldwide energy security market. In addition, there is an increasing necessity to safeguard energy sources from physical attacks as well as cyberattacks. The majority of countries are overly reliant on the supply of energy coming from a single origin, and they do not have an energy market that is sufficiently unified. In addition to this, the oil supplies of the globe are running out at an alarmingly quick pace, and climate change is accelerating at an alarmingly rapid rate.
This, in turn, causes the demand to raise the powerful force for the redirection of energy away from fossil fuels and toward a variety of other types of energy supplies, thereby underlining the significance of energy security. Many wars and conflicts around the world may be traced back, either directly or indirectly, to energy resources, most prominently oil and gas. This is the case in various regions of the world. The political conflict and cutthroat competition for energy resources have pushed the governments to search for a tactical alternative that is both affordable and secure, and that can endure the pressures of the industrial infrastructure.
As a result, there has been an increase in the need for solutions to problems relating to energy security, which has contributed to the expansion of the global market. In addition, the increasing use of nuclear energy as a source of energy and the substantial investments made by the government in research and development efforts to create new technologies may result in increased chances for the expansion of the global energy security market throughout the course of the projected period. Nevertheless, the primary reason that is preventing the expansion of the global energy security market is the widespread lack of understanding among industry operators.
The pandemic of the COVID-19 virus has caused the most severe catastrophe on a global scale since it has had a significant impact on economies, society, and healthcare systems. The governments of various nations are primarily concentrating their efforts on rebuilding their economies and bringing the disease’s spread under control, both of which are unprecedented aspects of the situation. travel, commercial activity, and trade have all slowed down as a result of the stringent lockdowns and limitations that have been placed on trade and travel around the world.
Demand for energy, including oil and power, fell in the nations that implemented full-scale blockades throughout the period analyzed here. Because many European nations, including the United Kingdom, Spain, Italy, and France, were on full lockdown during the first quarter of the year 2020, the demand for electricity was far lower than normal. The disturbance that occurred in the supply chain also caused an interruption in the supply of equipment and machinery. In addition, the limitations placed on the mobility of both people and products led to a reduction in the amount of money invested in energy-related endeavors. During the pandemic, the cumulative effect of these several causes had a detrimental impact on the expansion of the global energy security industry.
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|Market Size in 2022||USD 15.43 billion|
|Projected Market Size in 2030||USD 31.45 billion|
|CAGR Growth Rate||9.18% CAGR|
|Key Market Players||Honeywell International Inc., Symantec Corporation, Thales Group, Aegis Defense Services Ltd, Ericsson, HCL, Cassidian, Tofino, BAE System, and Raytheon|
|Key Segment||By Technologies, By Professional Services, By Power Plants, By Region|
|Major Regions Covered||North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa|
|Purchase Options||Request customized purchase options to meet your research needs. Explore purchase options|
Energy Security Market: Segmentation Analysis
The market for energy security on a global scale can be broken down into four categories: power plants, professional services, technology, and regions. Network security and physical security are the two submarkets that make up the global market for energy security. This division is based on the technologies. The global market is divided into the categories of system design, integration and consulting; risk management services; managed services; and managed services based on the professional services that are provided. The power plant business can be broken down into the following subcategories: oil and gas, nuclear, renewable energy, and thermal and hydro.
The global Energy Security market is segmented as follows:
- Network Security and Physical
By Professional Services
- System Design
- Integration & Consulting
- Risk Management Services
- Managed Services
By Power Plants
- Oil & Gas
- Renewable Energy
- Thermal & Hydro
Browse the full “Energy Security Market By Technologies (Network Security And Physical), By Professional Services(System Design, Integration & Consulting, Risk Management Services, And Managed Services), By Power Plants (Oil & Gas, Nuclear, Renewable Energy, And Thermal & Hydro), And By Region – Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030″ Report At https://www.zionmarketresearch.com/report/energy-security-market
Some of the main competitors dominating the global Energy Security market include –
- Honeywell International Inc.
- Symantec Corporation
- Thales Group
- Aegis Defense Services Ltd
- BAE System
Key Insights from Primary Research:
- According to the analysis shared by our research forecaster, the Energy Security market is likely to expand at a CAGR of around 9.18% during the forecast period (2023-2030).
- In terms of revenue, the Energy Security market size was valued at around US$ 15.43 billion in 2022 and is projected to reach US$ 31.45 billion by 2030.
- The study provides an in-depth analysis of the global energy security market forecast along with current & future trends to explain the imminent investment pockets.
- Information about key drivers, restraints, & opportunities and their impact analysis on global energy security market trends is provided in the report.
- The Porter’s five forces analysis illustrates the potency of the buyers and suppliers operating in the industry.
- The energy security market analysis from 2022 to 2031 is provided to determine the market potential.
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Key questions answered in this report:
- What is the market size and growth rate forecast for Energy Security industry?
- What are the main driving factors propelling the Energy Security Market forward?
- What are the leading companies in the Energy Security Industry?
- What segments does the Energy Security Market cover?
- How can I receive a free copy of the Energy Security Market sample report and company profiles?
- Market Size & Forecast by Revenue | 2023−2030
- Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
- Market Segmentation – A detailed analysis By Technologies, By Professional Services, By Power Plants, By Region
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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North America is expected to lead the global energy security market during the forecast period. Factors such as the use of advanced technologies for the prevention of energy resources from physical & cyber-attacks, the presence of major players, the rise in demand for sophisticated networks, and the rise in spending for energy security solutions are boosting the growth of the market in this region. On the other hand, Asia Pacific is estimated to experience rapid growth during the forecast period. This is attributable to the rise in government initiatives for compliance with security.
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Latin America
To know an additional revised 2023 list of market players, request a brochure of the report: https://www.zionmarketresearch.com/requestbrochure/energy-security-market
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