Smart Grid Security Market Size, Revenue Growth Trends, Company Strategy Analysis, 2020–2026
The growth of the market is governed by various factors such as the growing grid digitalization by advanced technologies Market Size – USD 5.97 Billion in 2018, Market Growth - CAGR of 9.9%, Market Trends- Enhanced distribution and usage while reducing transmission loss The Smart Grid Security Market is expected to reach USD 12.84 Billion by 2026, according to a new report by Reports and Data. Constant development and integration of innovative novel and networking technologies are enhancing the security measures. Acknowledging the complexity associated with smart grid due to complex network, there is an improvement in the risk factors, including data confidentiality, security, and vulnerabilities. This could result in an improved attack by penetrating the network and earning access over the software and transform load conditions to intrude the grid, resulting in a surge in demand for smart grid security solutions. Moreover, rising government initiatives for digitizing the power s