Lewes, DE -- (SBWIRE) -- 09/14/2017 -- A smart grid is an electrical grid which combines a variety of operational and energy measures including smart meters, smart appliances and energy efficient resource. Electronic power conditioning and the production and distribution of electricity are the major part of the smart grid technology. Smart grid has a variety of uses where cyber security is a crucial matter. Millions of devices are connected via communication networks throughout critical power facilities which includes an immediate impact on reliability of such a wide spread infrastructure.

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Smart grid is a revolutionary change in the traditional grid market and this smart grid market is expected to grow really high in the future. Information exchange is done with great efficiency with the improved smart grid system. Various integrations of Information Technology and Operation Technology are there which play different functions in smart grid security system. The integration of IT and OT comes with different utilities like remote monitoring and automation of controls across various regions. Major factors which are helping in the mounting of smart grid security market are the development of smart grid and the increasing sophistication of cyber attacks. The rising security needs of internet of things and digitalization in energy sector also boosts the market of smart grid security. Cyber security solutions are there for securing data, network infrastructure. The growing utilization of smart grid has connected numbers of devices which are suggestible to Advanced Persistent Threats. The smart grid security market is divided into professional and managed services, in which the professional service segment is contributing majorly in the service segment. Cloud based application will control a huge part of the market.

Smart grid security technology is highly rising in the market with the constant inventions of new smart equipments. It is visible that in the future this smart grid security will capture some of the major parts of the market.

Split by product type, with production, revenue, price, market share and growth rate of each type, can be divided into

Cloud
On-Premises

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Split by application, this report focuses on consumption, market share and growth rate of Smart Grid Security in each application, can be divided into

Consulting
Education and Training
Support and Maintenance