Oil and Gas Security and Service Market Recent Trends, Outlook, Emerging Technologies, Top Companies, Size, Share and Forecast 2025

Oil and Gas Security and Service Market by Component (Solution and Services), Services, Security Type (Physical Security and Network Security), Operation (Upstream, Midstream, and Downstream), and Region - Global Forecast to 2025.
The global oil and gas security and service market [https://www.marketsandmarkets.com/Market-Reports/oil-gas-security-market-1183.html?utm_campaign=paidpr&utm_source=abnewswire&utm_medium=referral] size is expected to grow from USD 25.3 billion in 2020 to USD 32.5 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 5.2% during the forecast period. Increased expenditure by oil and gas companies on network and physical security is one of the major factors driving the growth of the market.

Download PDF Brochure@ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=1183 [https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=1183&utm_campaign=paidpr&utm_source=abnewswire&utm_medium=referral]

Managed services to account for the highest market share during the forecast period

Rising levels of cyber-attacks and terrorist activities have made it difficult for most of the oil and gas companies to manage the security of their infrastructure. Thus, it empowers the oil and gas companies to implement managed security services. These managed services provide end-to-end security solutions which include managed threat monitoring and vulnerability assessment, managed network security services, and SCADA security. Moreover, managed services help organizations to focus more on their core objectives of the oil and gas business.

Midstream segment to grow at a higher CAGR during the forecast period

The midstream operation segment in the oil and gas sector includes shipping and storage of oil retrieved from the upstream sector. Logistics and transportation are the main facets of the midstream operation. The midstream segment generates a humungous amount of data through pipelines and other storage facilities. Supervisory Control and Data Acquisition (SCADA) system play a key role in digitizing and streamlining the midstream sector. Moreover, midstream operators use SCADA system to monitor and manage all field instruments utilized across the entire oil or gas flow in the pipes. Thus, the target of hackers are the SCADA systems, which are directly connected to the control networks that govern mission-critical oil and gas processes. To prevent these systems, many oil and gas companies are updating and boosting their cybersecurity capabilities.

North America to lead the oil and gas security and service market during the forecast period

North America is expected to account for the highest share of the oil and gas security and service market in 2020. The region comprises developed countries, such as the US and Canada, and is considered the most oil producing region and also early adopter of advanced technologies. The North American region exhibits a wide presence of key industry players offering oil and gas security solutions and service, and its financial position enables the region to invest majorly in leading tools and technologies for effective business operations.

Request Sample Pages@ https://www.marketsandmarkets.com/requestsampleNew.asp?id=1183 [https://www.marketsandmarkets.com/requestsampleNew.asp?id=1183&utm_campaign=paidpr&utm_source=abnewswire&utm_medium=referral]

Unique Features in the Oil and Gas Security and Service Market

The management of pipelines, refineries, and other assets in the oil and gas industry is largely dependent on OT systems, such as Supervisory Control and Data Acquisition (SCADA). Cyberattacks that could impede operations or possibly result in bodily harm can affect these systems. To protect these vital systems, oil and gas security services give top priority to OT security solutions.

Because oil and gas equipment is frequently dispersed over large, isolated areas, physical protection is difficult. Specialized solutions for these demanding conditions are available in this sector, such as access control protocols, remote monitoring systems, and drone-based surveillance.

Facilities that process oil and gas work in hostile conditions with high temperatures, caustic substances, and perhaps explosive circumstances. For security solutions to perform consistently under these harsh conditions, they must be strong and waterproof.

There are numerous safety and environmental laws that the oil and gas business must follow. These standards must be met by security solutions in order to prevent the introduction of fresh risks to public safety while thwarting established security threats.

A vital yet delicate link in the supply chain for oil and gas are pipelines. In this industry, security services provide specific solutions for monitoring intrusions, detecting pipeline leaks, and preventing sabotage.

Major Highlights of the Oil and Gas Security and Service Market

Like the CIP industry, cybersecurity is a big focus and generates a sizable amount of market income. This is because cyberattacks are becoming more sophisticated and because oil and gas operations are depending more and more on networked IT and OT systems.

Within the oil and gas security industry, the network security segment is anticipated to grow at the fastest rate. This is because of the previously mentioned increase in cyberattacks as well as the requirement to shield vital OT systems and data from unwanted access.

In order to detect threats, identify anomalies, and enhance security reaction times, oil and gas businesses are progressively implementing cutting-edge technology such as artificial intelligence and machine learning. One significant trend influencing the market's future is this integration.

Because of the possibility of theft, sabotage, and terrorism, physical protection is still essential for oil and gas infrastructure. The industry provides sophisticated physical security solutions, such as multi-factor authentication access control, perimeter intrusion detection systems, and video surveillance with analytics.

Security service providers for oil and gas are increasingly emphasizing risk management solutions that are all-inclusive, evaluating vulnerabilities, spotting possible attacks, and offering countermeasures. In the industry, this all-encompassing approach to security is becoming more popular.

Inquire Before Buying@ https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=1183 [https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=1183&utm_campaign=paidpr&utm_source=abnewswire&utm_medium=referral]

Top Companies in the Oil and Gas Security and Service Market

Cisco (US), NortonLifeLock (US), Honeywell (US), Siemens (Germany), Microsoft (US), Lockheed Martin (US), ABB (Switzerland), Parsons (US), Fortinet (US), Trend Micro (Japan), Forescout (US), GE (US), Synectics (UK), Intel (US), Speedcast (Australia), Booz Allen (US), Thales (France), HCL (India), IBM (US), BAE Systems (UK), Sophos (UK), Xage Security (US), Waterfall Security Solutions (Israel), Nozomi Networks (US), CNL Software (UK), Moxa (Taiwan), GPS Security (Canada), Athos (US), TSN (US), and J&G Security (US) are some of the major companies operating in this market.

Shale gas exploration requires advanced extractive technologies. However, India's major upstream national oil companies (NOCs) such as Oil and Natural Gas Corporation (ONGC) and Oil India Limited (OIL) lack the funds or expertise to develop shale gas. At a time when the country is struggling to attract foreign investors for exploring conventional resources, the government of India needs to frame policies such that it attracts private participation from foreign companies with best shale technologies.

Huge obstacles lie ahead for India on way to ensure energy security in the future. To meet its long-term needs, the country must act on the rapid development of its own unconventional gas resources. If systematically and commercially explored, the gas option can serve India's energy demands well in the future.

Media Contact
Company Name: MarketsandMarkets Trademark Research Private Ltd.
Contact Person: Mr. Rohan Salgarkar
Email:Send Email [https://www.abnewswire.com/email_contact_us.php?pr=oil-and-gas-security-and-service-market-recent-trends-outlook-emerging-technologies-top-companies-size-share-and-forecast-2025]
Phone: 18886006441
Address:630 Dundee Road Suite 430
City: Northbrook
State: IL 60062
Country: United States
Website: https://www.marketsandmarkets.com/Market-Reports/oil-gas-security-market-1183.html



This release was published on openPR.