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

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Oil Gas Security Market
Global Opportunity Analysis and Industry
Forecast, 2016-2023
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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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Oil Gas Security Market
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Oil Gas Security Market
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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.
OVERVIEW
Oil Gas Security Market
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• 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.

Key Findings
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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
Top Winning Strategies
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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. Porters 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
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Key Benefits
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