Smart Grid Security Market Analysis

ID: MRFR/ICT/5702-HCR

100 Pages

Shubham Munde

October 2025

Smart Grid Security Market Research Report: Information By Deployment Mode (On-Premise, and Cloud), By Security Type (Endpoint, Network, Application, and Database), By Application (Consumption, Generation, and Distribution & Control) And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) –Market Forecast Till 2035.

Summary Table of Contents Segmentation Download PDF

Market Analysis

Smart Grid Security market (Global, 2023)

Introduction

The security of the smart grid is a subject of increasing interest as the world's energy landscape is undergoing a profound transformation. The integration of advanced technologies and the growing demand for reliable, efficient and sustainable energy solutions are driving the smart grid security market. As energy suppliers and operators increasingly adopt smart grid systems to improve operational efficiency and enhance service delivery, the need to protect these complex, interconnected systems against cyber-attacks and physical threats has never been greater. The smart grid's unique combination of IT and operational technology raises new challenges for security and requires the development of new security frameworks that can evolve with the threat landscape. The energy industry is now beginning to recognize the importance of investing in a comprehensive security strategy that not only protects its assets but also enables compliance with regulatory standards and builds customer confidence. The development of resilient security solutions will play a crucial role in shaping the future of the smart grid and the energy sector as a whole.

PESTLE Analysis

Political: In 2023, the political environment of the smart grid security market will be dominated by government initiatives to increase the resilience of the energy supply system. The United States has allotted around $ 1 billion for the development of the energy sector's cyber-security as part of the Recovery, Reinvestment, and Infra-structure Act. In addition, the European Union has introduced the Cybersecurity Act, which requires all member states to implement strict security measures for all critical infrastructures, including smart grids, by 2025. This will spur investments in smart grid security solutions in the region.
Economic: The economic factors affecting the Smart Grid Security market are the rising costs of cyber-attacks. According to a recent industry report, by 2023, the average cost of a cyber-attack in the energy sector will be around $ 4,358,000. It is this financial burden that will force the power companies to invest more in security solutions. The smart grid security market is expected to reach $ 10 billion by the end of the year. In addition, the growing demand for clean energy is resulting in the demand for more security measures to protect these investments.
Social: The awareness of the public about the risks of cyber attacks has increased considerably in recent years, particularly in the context of energy security. In early 2023, a survey showed that 78% of consumers are concerned about the security of their energy supply, and 65% would be willing to pay higher electricity bills for increased security. This change in the public’s attitude is forcing energy suppliers to prioritise security investment in order to retain the public’s trust and ensure the reliability of the energy supply.
Technological: The smart grid security market is quickly changing due to the development of technology. Artificial intelligence and machine learning are becoming a focus of the market. By 2023, more than 40% of security solutions will integrate AI and ML to improve threat detection and response capabilities. IoT devices are being deployed more rapidly in smart grids, and the number of connected devices will reach more than 1 billion by the end of the year. The use of these devices requires a more secure IoT framework.
Legal: Legal aspects are increasingly influencing the market for smart grid security, especially in the context of new regulations and the requirements of conformity. In 2023, FERC issued Order 2222, which requires that the electricity companies must comply with the security standards of the smart grid. The order requires that the companies report all cyber incidents within 72 hours and thus creates a legal obligation for companies to take security measures. A penalty of up to $ 1 million per infringement was also introduced, which acted as a further stimulus for the companies to invest in smart grid security.
Environmental: The energy sector is increasingly influenced by the environment. In 2023, about one-third of the world's energy will come from renewable sources, which are more vulnerable to cyber-attacks. Therefore, it is increasingly necessary to develop security solutions that not only protect against cyber-attacks, but also support the integration of clean energy sources. This dual focus will lead to the development of security measures that are compatible with the environment.

Porter's Five Forces

Threat of New Entrants: Barriers to entry are moderate in the smart grid security market, because of the need for specialized knowledge and technology. The increasing demand for smart grid solutions may attract new players, but the established players with their established customer relationships and knowledge of the cybersecurity field pose a challenge to newcomers. In addition, the need to meet the regulatory requirements and standards of the industry may deter potential entrants.
Bargaining Power of Suppliers: Suppliers’ bargaining power in the smart grid security market is relatively low. There are many suppliers of security products and services, which creates a competitive market. This means that companies in the market can easily change supplier. But suppliers with specialized technology may have somewhat higher bargaining power because of their unique offerings.
Bargaining Power of Buyers: The buyers of Smart Grid Security are in a position of considerable power. With the wide choice of suppliers, they can easily compare solutions and negotiate the best deal. The growing awareness of the risks of cyber-attack has made buyers more demanding and informed. Suppliers are responding by lowering prices and enhancing features. In addition, the large energy companies and government agencies have significant buying power, which strengthens their position.
Threat of Substitutes: The threat of substitutes in the smart grid security market is moderate. There are other security solutions, such as those in information technology security, but they may not fully meet the special requirements of smart grids. These solutions may become a threat if they can offer similar security at lower cost, which will force the industry to keep innovating.
Competitive Rivalry: Competition in the smart grid security market is very intense, driven by the presence of a large number of players and the rapid technological progress. Companies are constantly introducing new products and improving their service offerings. The urgency to address the security threats to the energy sector is further intensifying the competition, as companies seek to differentiate themselves and win the attention of potential clients.

SWOT Analysis

Strengths

Increasing demand for secure energy infrastructure due to rising cyber threats.
Government initiatives and regulations promoting smart grid technologies.
Advancements in cybersecurity technologies tailored for energy systems.

Weaknesses

High implementation costs for advanced security solutions.
Lack of standardized security protocols across different regions.
Limited awareness and understanding of smart grid security among stakeholders.

Opportunities

Growing investment in renewable energy sources requiring enhanced security measures.
Expansion of IoT devices in energy management creating new security needs.
Potential for partnerships between technology firms and utility companies.

Threats

Evolving cyber threats and sophisticated attack methods targeting energy systems.
Regulatory changes that may impact security compliance requirements.
Competition from alternative energy solutions that may not prioritize security.

Summary

CHARACTERISTIC OF THE SMART GRID SECURITY MARKET IN 2023: Strong demand for enhanced security measures, resulting from increasing cyber threats and supportive government regulations. High costs and lack of standardization represent key market weaknesses. Opportunities lie in the investment in renewable energy and the growing use of IoT devices. Threats come from evolving cyber threats and regulatory changes. Strategic alliances and innovation in security technology will be key for stakeholders to survive in this dynamic market.

Market Highlights

Author

Shubham Munde

Research Analyst Level II

With a technical background in information technology & semiconductors, Shubham has 4.5+ years of experience in market research and analytics with the tasks of data mining, analysis, and project execution. He is the POC for our clients, for their consulting projects running under the ICT/Semiconductor domain. Shubham holds a Bachelor’s in Information and Technology and a Master of Business Administration (MBA). Shubham has executed over 150 research projects for our clients under the brand name Market Research Future in the last 2 years. His core skill is building the research respondent relation for gathering the primary information from industry and market estimation for niche markets. He is having expertise in conducting secondary & primary research, market estimations, market projections, competitive analysis, analysing current market trends and market dynamics, deep-dive analysis on market scenarios, consumer behaviour, technological impact analysis, consulting, analytics, etc. He has worked on fortune 500 companies' syndicate and consulting projects along with several government projects. He has worked on the projects of top tech brands such as IBM, Google, Microsoft, AWS, Meta, Oracle, Cisco Systems, Samsung, Accenture, VMware, Schneider Electric, Dell, HP, Ericsson, and so many others. He has worked on Metaverse, Web 3.0, Zero-Trust security, cyber-security, blockchain, quantum computing, robotics, 5G technology, High-Performance computing, data centers, AI, automation, IT equipment, sensors, semiconductors, consumer electronics and so many tech domain projects.

Get In Touch

FAQs

What is the projected market valuation of the Smart Grid Security Market by 2035?

The Smart Grid Security Market is projected to reach a valuation of 20.45 USD Billion by 2035.

What was the market valuation of the Smart Grid Security Market in 2024?

In 2024, the Smart Grid Security Market was valued at 8.31 USD Billion.

What is the expected CAGR for the Smart Grid Security Market during the forecast period 2025 - 2035?

The expected CAGR for the Smart Grid Security Market during the forecast period 2025 - 2035 is 8.53%.

Which companies are considered key players in the Smart Grid Security Market?

Key players in the Smart Grid Security Market include Siemens, General Electric, Schneider Electric, Honeywell, ABB, Cisco Systems, IBM, McAfee, Nokia, and Oracle.

What are the projected valuations for the Endpoint segment by 2035?

The Endpoint segment is projected to grow from 1.66 USD Billion in 2024 to 4.05 USD Billion by 2035.

How is the Smart Grid Security Market segmented by application?

The Smart Grid Security Market is segmented by application into Consumption, Generation, and Distribution & Control, with projected valuations of 5.95 USD Billion, 5.05 USD Billion, and 9.45 USD Billion respectively by 2035.

What are the projected valuations for the Network segment by 2035?

The Network segment is expected to increase from 2.49 USD Billion in 2024 to 6.05 USD Billion by 2035.

1. Market Overview

2. Market Trends

3. Market Segment Insights

4. Key Players and Competitive Insights

5. Industry Developments

6. Market Segmentation

7. Report Scope

8. Market Highlights

9. FAQs

Customize Report

Certified Researchers

Market Summary

As per MRFR analysis, the Smart Grid Security Market Size was estimated at 8.31 USD Billion in 2024. The Smart Grid Security industry is projected to grow from 9.019 USD Billion in 2025 to 20.45 USD Billion by 2035, exhibiting a compound annual growth rate (CAGR) of 8.53 during the forecast period 2025 - 2035.

Key Market Trends & Highlights

The Smart Grid Security Market is poised for substantial growth driven by technological advancements and increasing cybersecurity concerns.

North America remains the largest market for smart grid security solutions, reflecting a robust demand for enhanced cybersecurity measures.
The Asia-Pacific region is emerging as the fastest-growing market, fueled by rapid urbanization and increased energy consumption.
The endpoint segment dominates the market, while the network segment is experiencing the fastest growth due to the rising complexity of cyber threats.
Key market drivers include rising cyber threats and government initiatives that promote funding for advanced security solutions.

Smart Grid Security Market

CAGR

8.53%

Market Size & Forecast

2024 Market Size	8.31 (USD Billion)
2035 Market Size	20.45 (USD Billion)
CAGR (2025 - 2035)	8.53%
Largest Regional Market Share in 2024	North America

Major Players

Siemens (DE), General Electric (US), Schneider Electric (FR), Honeywell (US), ABB (CH), Cisco Systems (US), IBM (US), McAfee (US), Nokia (FI), Oracle (US)

Market Trends

The Smart Grid Security Market is currently experiencing a transformative phase, driven by the increasing integration of digital technologies within energy infrastructures. As utilities and energy providers adopt advanced communication systems, the need for robust security measures becomes paramount. This market is characterized by a growing awareness of cyber threats, which has prompted stakeholders to invest in comprehensive security solutions. The convergence of operational technology and information technology further complicates the security landscape, necessitating innovative approaches to safeguard critical infrastructure. Moreover, regulatory frameworks are evolving, compelling organizations to enhance their security postures to comply with stringent guidelines. In addition, the Smart Grid Security Market is witnessing a surge in demand for solutions that address both physical and cyber vulnerabilities. The rise of renewable energy sources and distributed generation adds layers of complexity, as these systems require secure communication channels to function effectively. As the market matures, collaboration among various stakeholders, including government entities, private companies, and research institutions, appears essential for developing effective security strategies. Overall, the Smart Grid Security Market is poised for growth, driven by the imperative to protect vital energy systems from emerging threats and vulnerabilities.

Increased Cybersecurity Investments

Organizations are prioritizing investments in cybersecurity solutions to protect their smart grid infrastructures. This trend reflects a heightened awareness of potential cyber threats and the need for advanced protective measures.

Integration of AI and Machine Learning

The adoption of artificial intelligence and machine learning technologies is becoming prevalent in the Smart Grid Security Market. These technologies offer enhanced threat detection and response capabilities, improving overall security effectiveness.

Regulatory Compliance and Standards

The evolving regulatory landscape is influencing the Smart Grid Security Market, as organizations strive to meet new compliance requirements. Adhering to these standards is crucial for ensuring the security and reliability of energy systems.

The increasing interconnectivity of energy systems necessitates robust security measures to protect against evolving cyber threats, thereby driving innovation in smart grid security solutions.

U.S. Department of Energy

Smart Grid Security Market Market Drivers

Rising Cyber Threats

The Smart Grid Security Market is experiencing heightened demand due to the increasing frequency and sophistication of cyber threats. As energy infrastructure becomes more interconnected, vulnerabilities are exposed, prompting utilities to invest in advanced security measures. Reports indicate that cyberattacks on critical infrastructure have surged, with energy sectors being prime targets. This trend necessitates robust security solutions to protect sensitive data and ensure operational continuity. The market is projected to grow significantly as organizations prioritize cybersecurity to mitigate risks associated with potential breaches. The urgency to safeguard against these threats is driving innovation and investment in smart grid security technologies.

Adoption of IoT Devices

The proliferation of Internet of Things (IoT) devices is significantly influencing the Smart Grid Security Market. As utilities adopt IoT technologies for monitoring and managing energy consumption, the need for robust security measures becomes paramount. IoT devices, while enhancing operational efficiency, also introduce new vulnerabilities that can be exploited by malicious actors. Consequently, the market is witnessing a surge in demand for security solutions tailored to protect these devices and the data they generate. Analysts suggest that the integration of IoT in smart grids could lead to a market expansion, as organizations seek to secure their networks against potential threats.

Government Initiatives and Funding

Government initiatives play a pivotal role in shaping the Smart Grid Security Market. Various governments are implementing policies and providing funding to enhance the security of energy infrastructure. For instance, initiatives aimed at modernizing the grid often include provisions for cybersecurity enhancements. In recent years, funding allocations for smart grid projects have increased, with a focus on integrating security measures. This financial support encourages the adoption of advanced security technologies, fostering a more resilient energy sector. As governments recognize the importance of secure energy systems, the market is likely to witness sustained growth driven by these initiatives.

Increased Awareness of Energy Security

There is a growing awareness of the importance of energy security within the Smart Grid Security Market. Stakeholders, including consumers and businesses, are increasingly recognizing the potential risks associated with energy supply disruptions. This awareness is driving demand for security solutions that ensure the reliability and integrity of energy systems. As public concern over energy security rises, utilities are compelled to invest in advanced security measures to maintain consumer trust and operational stability. The market is likely to benefit from this heightened awareness, as organizations prioritize investments in security technologies to safeguard their energy infrastructure.

Technological Advancements in Security Solutions

Technological advancements are a key driver of growth in the Smart Grid Security Market. Innovations in security technologies, such as artificial intelligence and machine learning, are enhancing the ability to detect and respond to threats in real-time. These advancements enable utilities to implement proactive security measures, reducing the likelihood of successful cyberattacks. The market is witnessing the emergence of sophisticated security solutions that leverage these technologies to provide comprehensive protection for smart grid systems. As utilities seek to stay ahead of evolving threats, the demand for cutting-edge security solutions is expected to rise, further propelling market growth.

Market Segment Insights

By Type: Endpoint (Largest) vs. Network (Fastest-Growing)

In the Smart Grid Security Market, the distribution of market share across the 'Type' segment reveals that Endpoint security solutions are currently the largest segment, capturing a significant portion of the market. This predominance is driven by the critical need to secure devices connected to smart grids, which are often vulnerable to cyber threats. Meanwhile, the Network security solutions segment is emerging as the fastest-growing area. This growth is largely attributed to the increasing frequency of cyberattacks on network infrastructures, which necessitates robust security measures.

Endpoint (Dominant) vs. Network (Emerging)

Endpoint security solutions represent the dominant force in the Smart Grid Security Market. These solutions focus on protecting individual devices, including smart meters and substations, which are critical components of smart grids. Their ability to provide a robust defense against malware and unauthorized access makes them indispensable in today's security landscape. On the other hand, Network security solutions are identified as an emerging segment due to the rising complexity of interconnected systems. As more devices are connected, the potential for vulnerabilities increases, leading to heightened demand for sophisticated network security protocols and technologies designed to safeguard against increasingly sophisticated cyber threats.

By Application: Distribution & Control (Largest) vs. Generation (Fastest-Growing)

The Smart Grid Security Market is increasingly characterized by its application segments of Consumption, Generation, and Distribution & Control. Among these, Distribution & Control holds the largest market share, reflecting its critical role in managing and protecting grid operations. Consumption, as a segment, also plays a significant role, but it is Generation that is catching up quickly, indicating its importance as energy production shifts toward smarter, more integrated systems.

Distribution & Control (Dominant) vs. Generation (Emerging)

The Distribution & Control segment of the Smart Grid Security Market is recognized as a dominant force due to its advanced capabilities in monitoring and securing energy distribution channels. This segment addresses the crucial need for real-time data and threat detection, ensuring that energy flows efficiently and securely throughout the grid. On the other hand, the Generation segment is emerging as a vital player, driven by innovations in renewable energy production and the need for security in decentralized energy sources. This newfound focus reflects the industry's shift towards sustainability and smart energy solutions, placing significant emphasis on protecting generation assets from cyber threats.

By Deployment Mode: On-Premise (Largest) vs. Cloud (Fastest-Growing)

In the Smart Grid Security Market, the deployment mode reflects a significant divide between On-Premise and Cloud solutions. On-Premise deployments hold a substantial market share, driven by organizations' preference for tight control over their security systems and sensitive data. This segment appeals to enterprises requiring full compliance and reliable security without the potential vulnerabilities associated with cloud-based systems. However, the Cloud deployment mode is rapidly gaining traction, particularly among smaller organizations that prioritize flexibility and scalability in their security solutions. Much of the momentum in the Cloud market is attributable to the increasing digitization of energy management systems and the need for integrated security solutions that can be easily updated and managed.

Deployment Mode: On-Premise (Dominant) vs. Cloud (Emerging)

On-Premise solutions in the Smart Grid Security Market are characterized by robust security frameworks that align with organizational policies, often featuring specialized hardware and dedicated resources tailored to secure critical infrastructure. This mode is preferred by large enterprises and utility providers who prioritize data sovereignty and stringent regulatory compliance. Conversely, the Cloud deployment model is emerging as a frontrunner due to its agility and cost-effectiveness. Many organizations are transitioning to Cloud-based solutions that offer enhanced collaboration, quicker deployment times, and the ability to scale resources based on demand. This shift is particularly driving innovation and improved threat response mechanisms, making the Cloud segment a focal point for future growth in the market.

Get more detailed insights about Smart Grid Security Market Research Report – Global Forecast till 2032

Regional Insights

North America : Leading Innovation and Investment

North America is the largest market for smart grid security, holding approximately 45% of the global share. The region's growth is driven by increasing cyber threats, regulatory mandates, and significant investments in infrastructure modernization. The U.S. and Canada are the primary contributors, with a strong focus on enhancing grid resilience and security protocols. Regulatory bodies like the Department of Energy are pushing for advanced security measures, further fueling market demand. The competitive landscape is robust, featuring key players such as Siemens, General Electric, and Cisco Systems. The presence of these industry giants fosters innovation and collaboration, leading to the development of cutting-edge security solutions. The U.S. government’s initiatives to bolster cybersecurity in energy infrastructure are pivotal, ensuring that the market remains dynamic and responsive to emerging threats.

Europe : Regulatory Framework and Growth

Europe is witnessing significant growth in the smart grid security market, accounting for approximately 30% of the global share. The region's expansion is driven by stringent regulations aimed at enhancing energy security and sustainability. Countries like Germany and the UK are at the forefront, implementing policies that mandate the adoption of advanced security technologies in energy systems. The European Union's commitment to a digital and secure energy transition is a key catalyst for market growth. Leading countries in Europe are investing heavily in smart grid technologies, with major players like Schneider Electric and ABB leading the charge. The competitive landscape is characterized by a mix of established firms and innovative startups, all vying to meet the growing demand for secure energy solutions. The EU's Digital Single Market strategy emphasizes the importance of cybersecurity in energy, further propelling the sector forward.

Asia-Pacific : Rapid Adoption and Investment

Asia-Pacific is rapidly emerging as a significant player in the smart grid security market, holding around 20% of the global share. The region's growth is fueled by increasing urbanization, government initiatives to modernize energy infrastructure, and rising cyber threats. Countries like China and India are leading the charge, with substantial investments in smart grid technologies aimed at enhancing energy efficiency and security. Regulatory frameworks are evolving to support these advancements, creating a conducive environment for market growth. The competitive landscape in Asia-Pacific is diverse, with both local and international players vying for market share. Key companies such as Honeywell and IBM are actively involved in developing innovative security solutions tailored to the region's unique challenges. The presence of government-backed initiatives and partnerships with private sectors is crucial in driving the adoption of smart grid security technologies, ensuring a robust market trajectory.

Middle East and Africa : Emerging Market with Potential

The Middle East and Africa region is gradually emerging in the smart grid security market, currently holding about 5% of the global share. The growth is primarily driven by increasing investments in energy infrastructure and the need for enhanced security measures against cyber threats. Countries like South Africa and the UAE are focusing on modernizing their energy systems, supported by government initiatives aimed at improving energy security and sustainability. The regulatory landscape is evolving, encouraging the adoption of smart grid technologies. The competitive landscape is still developing, with a mix of local and international players entering the market. Companies like Nokia and Oracle are beginning to establish a foothold, providing innovative solutions tailored to the region's needs. The potential for growth is significant, as governments recognize the importance of securing energy infrastructure against emerging threats, paving the way for future investments and advancements in smart grid security.

Key Players and Competitive Insights

The Smart Grid Security Market is currently characterized by a dynamic competitive landscape, driven by the increasing need for robust cybersecurity measures in energy infrastructure. Key players are actively engaging in strategic initiatives to enhance their market positioning. Siemens (DE) has been focusing on innovation and digital transformation, particularly in developing advanced cybersecurity solutions tailored for smart grid applications. General Electric (US) is also emphasizing partnerships and collaborations, aiming to integrate its technologies with emerging digital platforms to bolster security measures. Schneider Electric (FR) is pursuing regional expansion, particularly in Asia-Pacific, where the demand for smart grid solutions is surging. Collectively, these strategies indicate a shift towards a more integrated and secure energy ecosystem, where collaboration and technological advancement are paramount.

In terms of business tactics, companies are increasingly localizing manufacturing and optimizing supply chains to enhance responsiveness to market demands. The Smart Grid Security Market appears moderately fragmented, with several key players exerting influence over various segments. This competitive structure allows for a diverse range of solutions, although it also necessitates that companies differentiate themselves through innovation and strategic partnerships.

In August 2025, Honeywell (US) announced a significant partnership with a leading cloud service provider to enhance its smart grid security offerings. This collaboration aims to leverage cloud technology to provide real-time threat detection and response capabilities, which is crucial in an era where cyber threats are becoming more sophisticated. The strategic importance of this move lies in Honeywell's ability to integrate advanced analytics and machine learning into its security solutions, thereby enhancing the overall resilience of smart grid systems.

In September 2025, Cisco Systems (US) launched a new suite of cybersecurity tools specifically designed for smart grid applications. This initiative reflects Cisco's commitment to addressing the unique challenges posed by interconnected energy systems. By focusing on developing tailored solutions, Cisco positions itself as a leader in the market, potentially setting new standards for security protocols in smart grids. The launch is indicative of a broader trend towards specialization in cybersecurity, where companies are increasingly recognizing the need for bespoke solutions to address specific vulnerabilities.

In October 2025, ABB (CH) unveiled a comprehensive cybersecurity framework aimed at protecting critical infrastructure within smart grids. This framework incorporates advanced threat intelligence and incident response capabilities, showcasing ABB's proactive approach to security. The introduction of this framework is significant as it not only enhances ABB's product offerings but also reinforces its reputation as a trusted partner in the energy sector, particularly in the context of increasing regulatory scrutiny around cybersecurity.

As of October 2025, the competitive trends in the Smart Grid Security Market are heavily influenced by digitalization, sustainability, and the integration of artificial intelligence. Strategic alliances are becoming increasingly vital, as companies recognize the need to pool resources and expertise to tackle complex security challenges. Looking ahead, competitive differentiation is likely to evolve from traditional price-based competition towards a focus on innovation, technological advancement, and supply chain reliability. This shift underscores the importance of developing cutting-edge solutions that not only meet current security needs but also anticipate future challenges in the rapidly evolving energy landscape.

Key Companies in the Smart Grid Security Market market include

Industry Developments

Q2 2024: Siemens launches new cybersecurity suite for smart grid protection Siemens announced the launch of a comprehensive cybersecurity suite designed to protect smart grid infrastructure from evolving cyber threats. The new solution integrates advanced threat detection and response capabilities tailored for utility operators.
Q1 2024: Honeywell and Microsoft partner to deliver end-to-end smart grid security solutions Honeywell and Microsoft announced a strategic partnership to co-develop and deliver integrated cybersecurity solutions for smart grid operators, leveraging Microsoft Azure and Honeywell’s OT security expertise.
Q2 2024: IBM acquires OT cybersecurity firm to bolster smart grid security offerings IBM completed the acquisition of a leading operational technology (OT) cybersecurity company, expanding its portfolio of security solutions for smart grid and critical infrastructure clients.
Q3 2024: GE Vernova wins $120 million contract to upgrade smart grid security for major US utility GE Vernova secured a $120 million contract to provide advanced smart grid security solutions and services to a major US utility, focusing on threat detection, incident response, and compliance with federal cybersecurity standards.
Q2 2024: Cisco unveils next-generation firewall for smart grid networks Cisco introduced a new firewall appliance specifically designed for smart grid environments, offering enhanced intrusion prevention and real-time monitoring for utility networks.
Q1 2024: UK government approves new smart grid security regulations for utilities The UK government announced the approval of updated regulations requiring all major utilities to implement advanced cybersecurity measures for smart grid infrastructure by 2025.
Q2 2025: Startup GridGuard raises $40 million Series B to expand smart grid security platform GridGuard, a cybersecurity startup focused on smart grid protection, raised $40 million in Series B funding to accelerate product development and expand its presence in North America and Europe.
Q1 2025: Siemens Energy appoints new Chief Security Officer to lead smart grid cyber defense Siemens Energy announced the appointment of a new Chief Security Officer tasked with overseeing the company’s global smart grid cybersecurity strategy and operations.
Q3 2024: ABB opens new smart grid security research center in Switzerland ABB inaugurated a dedicated research center in Switzerland focused on developing next-generation cybersecurity technologies for smart grid applications.
Q2 2025: GE launches AI-powered threat detection platform for smart grids GE announced the launch of an AI-powered platform designed to detect and respond to cyber threats targeting smart grid infrastructure, aiming to improve resilience and reduce response times for utilities.
Q1 2025: Siemens and Schneider Electric form alliance to address smart grid cyber risks Siemens and Schneider Electric announced a strategic alliance to jointly develop and market cybersecurity solutions tailored for smart grid operators worldwide.
Q2 2024: European Commission awards €50 million grant for smart grid security innovation The European Commission awarded a €50 million grant to a consortium of technology firms and utilities to develop innovative cybersecurity solutions for Europe’s smart grid infrastructure.

Future Outlook

Smart Grid Security Market Future Outlook

The Smart Grid Security Market is projected to grow at 8.53% CAGR from 2024 to 2035, driven by increasing cyber threats, regulatory mandates, and technological advancements.

New opportunities lie in:

Development of AI-driven threat detection systems
Integration of blockchain for secure data transactions
Expansion of managed security services for utilities

By 2035, the Smart Grid Security Market is poised for robust growth and innovation.

Market Segmentation

Smart Grid Security Market Type Outlook

Endpoint
Network
Application
Database

Smart Grid Security Market Application Outlook

Consumption
Generation
Distribution & Control

Smart Grid Security Market Deployment Mode Outlook

On-Premise
Cloud

Report Scope

MARKET SIZE 2024	8.31(USD Billion)
MARKET SIZE 2025	9.019(USD Billion)
MARKET SIZE 2035	20.45(USD Billion)
COMPOUND ANNUAL GROWTH RATE (CAGR)	8.53% (2024 - 2035)
REPORT COVERAGE	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
BASE YEAR	2024
Market Forecast Period	2025 - 2035
Historical Data	2019 - 2024
Market Forecast Units	USD Billion
Key Companies Profiled	Market analysis in progress
Segments Covered	Market segmentation analysis in progress
Key Market Opportunities	Integration of advanced cybersecurity measures to protect critical infrastructure in the Smart Grid Security Market.
Key Market Dynamics	Rising cybersecurity threats drive demand for advanced Smart Grid Security solutions and regulatory compliance across energy sectors.
Countries Covered	North America, Europe, APAC, South America, MEA