According to the report analysis, ‘Global Oil And Gas Security Market Size study, by Type (Cyber Security, Security Services, Command & Control, Screening & Detecting, Surveillance, Access Control, Perimeter Security, Other), by Application (Exploring & Drilling, Transportation, Pipelines, Distribution & Retail Services, Other) and Regional Forecasts 2018-2025’ states that there are several key players which are presently functioning in this sector more actively for registering the fastest market growth and attaining the highest value of market share around the world in the coming years more enormously while improving the services and techniques of doing work which further enhance the efficiency of the outcome includes Cisco Systems, Siemens, Symantec, Honeywell, Parsons, Intel, General electric, Microsoft, ABB, Lockheed Martin and several others. Moreover, the players of this market are analyzing the related aspects for generating the high amount of revenue and increasing the demand of such across the globe. Not only has this, focused players of this market are benefitted with the strategies of joint venture, mergers and acquisition which further proved to be profitable for knowing the market trends, opportunities and several others. With the effective functioning of the players the market lead an effective growth more positively in the coming years.
Technological solutions executed by companies to confirm the security of oil and gas infrastructure such as pipeline, refineries and storage is known as oil and gas security. It includes the security of the operational technology such as supervisory control and data acquisition & distributed control system of the infrastructure of the oil and gas industry from the cyber attack and data theft. Furthermore, the players of this market are introducing the new and developed technologies for delivering effective security measures and managing the data more effectively which further increase the demand of such as lead the market growth more actively with the handsome amount of share across the globe more positively in the near years.
Global Oil & Gas Security Market valued approximately USD 28.35 billion in 2017 is estimated to increase with a healthy growth rate of more than 4.67% over the forecast period of 2018-2025. Whereas, the global market of oil and gas security is segmented into different sectors such as type, application and region. On the basis of type, the market is segmented into cyber security, security services, command and control, screening and detecting, surveillance, access control, perimeter security and several others while, based on the application, the market is further divided into exploring and drilling, transportation, pipelines, distribution and retail services and several others. Nevertheless, on the basis of region, with the effective applications the market is spread across the globe such as Asia Pacific, North America, Europe, Latin America and Rest of the World. However, the North America is the leading/significant region across the world in terms of market share due to the technological advancements, demand to decrease the cost of manpower and government regulation. Europe also contributes a satisfactory growth in the global oil and gas security market.
Although, the Asia-Pacific is also expected to exhibit higher growth rate / CAGR over the forecast period of 2018-2025 owing to growing number of threats due to geopolitical issues. Moreover, the major fueling factor of global Oil & Gas Security market are rise in the cyber attacks and increasing expenditure oil and gas companies on network & infrastructure protection. Therefore, in the near future, it is anticipated that the market of oil and gas security will increase across the globe more positively over the recent few years.
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Ankur Gupta, Head Marketing & Communications