Oil and Gas Physical Security Market | Growth, Trends, and Forecast 2023

Rising energy demand and depletion of energy resources are adding the pressure on governments to develop regulatory plans for oil and gas physical security system. There are many individual security measures in the market for the protection of rig platforms and pipeline and other transportation systems. However, there is no integrated system developed for the overall physical security and network security.

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Currently, some of the major market players in oil and gas industry are developing many integrated solutions for security. Onshore exploration and production is moving rapidly towards offshore exploration to meet the energy demand globally and this major shift is raising the demand for physical security compliances. Many engineering, procurement and construction (EPC) contractors are focusing on advance oil and gas physical security systems such as Critical communications, electronic physical access control, fire detection & suppression, perimeter intrusion detection and video surveillance to make oil and gas production and transportation threat-proof.

Global oil and gas physical security market can be segmented on the basis of services, systems and verticals. The oil and gas physical security market by services comprises of maintenance and support systems, system integration and designing and consulting. On the basis of system this market is segmented as comprises physical security information management, access control, screening and scanning, perimeter intrusion detection, video surveillance, risk assessment and analysis, safety and security systems. Overall oil and gas production system comprises of many verticals such as rig structure, transportation and logistics through pipelines and tankers, utilities, power distribution system, storage tanks and overall treatment plant including refineries and petrochemical plants.

Global oil and gas physical security market can be segmented on the basis of geographical locations depending on the level of production of oil and gas. North America is one of the largest markets in physical security of oil and gas sector. North America has conducted research on the development of sensors as perimeter security solutions for rig structures to prevent adverse conditions. Main factors for North America physical security market growth are technological developments, government regulations and the requirement to reduce the cost of manpower. Asia Pacific region is growing in this market due to the increasing number of threats due to geopolitical issues, which may interrupt the oil and gas production operations and import and lead to huge losses. Europe is the area of attraction for physical security market players because of offshore oil and gas production shift. South America has the growth potential in coming years due to increasing complexity of offshore sites. Middle East and Africa are not technically advanced regions but have ample amount of oil and gas reserves that gives a positive outlook for these regions.

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Some of the major driving forces for oil and gas physical security market are increasing threats of terrorist attacks due to geopolitical issues that can lead the countries to scarcity of energy and governmental regulations for increasing security compliances in the system. Oil and gas price fluctuation resulting in economic slowdown can become a hurdle in the growth of this market. Oil and gas price decline will directly have an adverse impact on oil and gas infrastructure causing reduction in demand of physical security compliances. Growing oil and gas opportunities in offshore regions are raising the need of security compliances that can lead this market towards success in future.

Some of the major service providers for the physical security market are Active Communications International, Cimation, C-ompany and S2 Security Corporation.

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