Oil and Gas Security and Service Market: Summary
The Global Oil and Gas Security and Service Market is projected to reach a value of over USD 38.2 billion by 2027 at a CAGR of around 5.1%.
The oil and gas security and services refers to a security process in which the oil and gas operational sector are secured with the help of physical as well as network security. Whereas, managing security risks is one of the major business activity to upstream the oil and gas industry. Also the security system helps the companies to enhance and to manage assets as well as to deliver supplier without any interference. According to the Accenture, more than 40% of the oil and gas companies have taking an initiatives to spend in cyber security.
Hence, due to COVID-19 pandemic the increasing demand for Bring Your Own Device (BYOD) may also lead to create a risk phishing attacks for the industries.
Oil and Gas Security and Service Market: Drivers & Restraints
- Growing Demand for Cloud Based Technologies
With the growing demand for the cloud based technologies is witness to increase the demand of the market in the forecast period. Whereas, the cloud technologies in the industries is play a significant role for the companies to enhance and improve the defense tools by adoption cyber security. Also, many incident of cyber-attack have promote oil and gas companies to enhance their security platform. However, the most common cyber-attacks which has been witness are the malware, and phishing, which are mostly introduced through cloud ecosystem loopholes in the Covid-19 pandemic.
Hence, the shortage of professional, capital as well as on premise servers create an opportunities for the adoption of cloud based technologies to the data security.
One of the major key concern of the oil and gas security and service market is the lack of awareness which may hinder the growth of the market. Whereas, in the globalization and networking period more than 70% of the offshore cyber threat is being recorded due to the human error. Also the lack of awareness and training is one of the major reason of cyber-attack, thus it need to have a right training professional and information program to improve the concern.
Hence, most of the small and large oil and gas industries has adopted physical and cyber security solution but largely the business is still depend on the existing security solutions. These may hinder the growth of the oil and gas security and services market in the projected period.
Oil and Gas Security and Service Market: Key Segments
- Segmentation based on Component: Solution and Services.
- Segmentation based on Security Types: Surveillance, Cyber Security, Screening & Detection, Access Control, Security Services, Command & Control, Perimeter Security and Others.
- Segmentation based on Operation: Upstream, Midstream and Downstream.
- Segmentation based on Application: Transportation, Pipelines, Exploring and Drilling, Distribution and Retail services and others.
- Segmentation based on region covers: North America, Europe, Asia-Pacific, Middle East & Africa and South America with individual country-level analysis.
Oil and Gas Security and Service Market: Report Scope
The report on the oil and gas security and service market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country-wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.
Historical/Estimated/Forecasted Market Size Years
Base Year for Market Calculation
2021-2027 (2021 estimated year, forecasted up to 2027)
Value (USD Million)
Component, Security Type, Operation, Application, and Region
North America, Asia-Pacific, Europe, Middle East & Africa, South America
Key Companies Covered
- Cisco Systems, Inc. (Company Description, Company Overview, Product Synopsis, Key Developments, SWOT Analysis)
- Microsoft Corporation
- Lockheed Martin Corporation
- Trend Micro Incorporated
- Fortinet Inc.
- Sophos Ltd.
- Forescout Technologies Inc
- Other Key Companies
- NOZOMI NETWORKS INC
- General Electric
- Moxa Inc.
- Synectics plc.
Oil and Gas Security and Service Market: Report Segmentation
For the scope of the report, In-depth segmentation is offered by Forencis Research
Oil and Gas Security and Service Market, by Component
- Risk Management
- Integration and Consulting
Oil and Gas Security and Service Market, by Security Types
- Cyber Security
- Screening & Detection
- Access Control
- Security Services
- Command & Control
- Perimeter Security
Oil and Gas Security and Service Market, by Operation
Oil and Gas Security and Service Market, by Application
- Exploring and Drilling
- Distribution and Retail services
Oil and Gas Security and Service Market, by Region
- North America
- South Korea
- Rest of Asia-Pacific
- Rest of Europe
- Middle East & Africa
- Saudi Arabia
- Rest of Middle East & Africa
- South America
- Rest of South America
Key Questions Answered By The Report
- What are the prominent developments affecting the market worldwide and its growth?
- What will be the impact of the developments in the market on the industry and on the market players in the future?
- What are the evolving variations of the market globally?
- What are the evolving functions of the market globally?
- What are the prominent aspects that will affect market growth globally during the study period?
- Who are the key players operating in the market across the globe?
- How are the key players leveraging in the present market scenario worldwide?
- Oil and Gas Security and Service Market Providers
- Oil and Gas Security and Service Market Solution and Services Suppliers, Distributors and Dealers
- End-Users of Varied Segments of Oil and Gas Security and Service Market
- Government Bodies and Intellectual Institutions
- Associations and Industrial Organizations
- Research & Consulting Service Providers
- Research & Development Organizations
- Investment Banks & Private Equity Firms
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE OIL AND GAS SECURITY AND SERVICE MARKET STUDY