Oil & Gas Security Market Restraints - Existing Base of Oil and Gas Security Solutions

1. Oil & Gas Security Market Global Opportunity Analysis and Industry Forecast, 2016-2023

2. INTRODUCTION Oil & Gas Security Market by Component, Security System, and Application: Global Opportunity Analysis and Industry Forecast, 2017-2023, the oil & gas security market was valued at $ 23,141 million in 2016, and is projected to reach $36,012 million by 2023, growing at a CAGR of 6.7% from 2017 to 2023. The command & control segment is anticipated to grow at the highest rate during the forecast period. North America generated the highest revenue in the global oil & gas security market in 2016 due to its technological advancements and developed infrastructure, and introduction of innovative solutions by the key players in the region. The Asia-Pacific oil & gas security market is expected to grow at the highest rate of 8.8% during the forecast period. Oil & Gas Security Market

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4. OVERVIEW Exploring & drilling segment generated maximum share of revenue in 2016 and is expected to dominate the market throughput the forecast period at the CAGR of 7.2%. Among services, managed services segment is expected to witness highest CAGR of 8.4% during the forecast period. The security of the operational technology (OT) such as supervisory control and data acquisition (SCADA) and distributed control system (DCS) of the infrastructure of the oil & gas industry from cyber-attacks and data theft is known as oil & gas security. The increase in cyber-attacks on the OT of oil & gas companies increases the requirement for security in the market. The protection from various cyber threats and data security breaches are the major advantages. However, huge capital cost and the constant demand for security upgrade are the disadvantages of the system. Oil & Gas Security Market

5. Key Findings • The software segment accounted for the highest share of the oil & gas security industry by component in 2016, growing at a CAGR of 6.1% from 2017 to 2023. • The surveillance segment by security system generated the highest revenue share in 2016 and is projected to grow at a rate of 6.1%. • The U.S. oil & gas security market generated the highest share, valued at $ 7,298 million, in terms of revenue in 2016. • The oil & gas security market for managed services is expected to witness the highest growth rate during the forecast period. Oil & Gas Security Market

6. Top Winning Strategies Agreement: This strategy enhances the capabilities of the market players and improves market outreach Acquisition: This move is adopted by companies to take ownership stakes of other companies and control it. It also expands the geographical presence. Product Launch: This includes introduction of new and unique rental plans in the market Partnership: This strategy is adopted when two or more companies agree to cooperate to advance their mutual interests Expansion: This strategy is adopted to enhance product portfolios, effective operations, expand geographical reach, and increase customer base Collaboration: This strategy is adopted when companies agree to cooperate with each other for a specific purpose or achieving a common goal Oil & Gas Security Market

7. Key Benefits In-depth analysis of the global oil & gas security market along with its dynamics is provided to understand the market scenario. Quantitative analysis of the current trends and future estimations from 2017 to 2023 is provided to assist strategists and stakeholders to capitalize on prevailing opportunities. Porter’s Five Forces analysis examines the competitive structure of the oil & gas security industry and provides a clear understanding of the factors that influence the market entry and expansion. A detailed analysis of the geographical segments enables identification of profitable segments for market players. Comprehensive analysis of the trends, sub-segments, and key revenue pockets are provided in the report. Need More Information Enquire here: https://www.alliedmarketresearch.com/purchase-enquiry/3914 Oil & Gas Security Market

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