The Oil and Gas Security and Service Market size was USD 27.3 billion in 2022 and is expected to Reach USD 44.1 billion by 2030 and grow at a CAGR of 6.2 % over the forecast period of 2023-2030.
A variety of services and solutions are available in the oil and gas security and services sector with the goal of protecting operations, resources, people, and data. In order to maintain security and operational continuity, which are both essential given the strategic importance of the oil and gas sector to the world's economies. Oil and gas companies have a lot of valuable assets, including pipelines, refineries, and production facilities. These assets are also connected to critical IT systems, which makes them vulnerable to cyber-attacks. The network security segment has the largest market share in the oil and gas security and service market. the network security segment is expected to grow at a CAGR of 7.2% from 2023 to 2030. This is due to the increasing number of cyber-attacks targeting the oil and gas industry. Network security solutions help to protect oil and gas companies from these attacks by securing their networks and systems. Oil and gas security and service can help to protect these assets and operations from physical and cyber threats. The oil and gas industry is subject to a number of regulations, including those related to physical security, cybersecurity, and environmental protection. Oil and gas security and service can help organizations to comply with these regulations and avoid costly fines and penalties. Oil and gas security and service can help to improve operational efficiency by reducing downtime, improving productivity, and increasing safety. The threat of cyber-attacks is growing in the oil and gas industry. This is forcing companies to invest in security solutions to protect their critical infrastructure. Companies have invested in newer IT infrastructure and solutions to ensure optimum oil & gas security. With rise in the implementation of bring-your-own-device in oil & gas companies and the development of highly sophisticated cyber-attacks on oil & gas facilities, the need for oil & gas defense applications and services is projected to play a crucial role in stimulating growth of the industry.
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KEY DRIVERS
Increased Expenditure on Network and Physical Security
The growing threat of cyber-attacks
The growth of the oil and gas security and service market is driven by increased expenditure by oil and gas companies on network and physical security
RESTRAIN
High cost of security solutions
Security solutions for the oil and gas industry can be very expensive. This can be a barrier for smaller companies that are looking to improve their security posture.
OPPORTUNITY
Adoption of Cloud-Based Solutions
The rise in demand for oil and gas is an opportunity for the oil and gas security and service market, as it drives the need for increased security measures.
The adoption of cloud-based solutions in the oil and gas security and service market is an opportunity for the market, as it enables companies to store and analyse large amounts of data
CHALLENGES
Environmental Concerns can be Challenging
Environmental concerns are a significant challenge in the oil and gas security and service market, as the industry is under pressure to reduce its carbon footprint and adopt sustainable practices
The Russian-Ukraine war has significantly impacted the oil and gas security and service market. The war has created a number of new security risks for the oil and gas industry. The war has increased the threat of cyber-attacks against oil and gas companies. This is because Russia has a history of using cyber-attacks as a weapon, and the war has made it easier for Russia to target oil and gas companies in the West. The war has also increased the threat of physical attacks against oil and gas infrastructure. This is because Russia has a history of using military force to seize control of oil and gas assets, and the war has made it more likely that Russia will target oil and gas infrastructure in the West. Cisco is a global leader in networking and security solutions. The company's security solutions for the oil and gas industry are in high demand, and Cisco is reporting strong sales growth in this market. Cisco reported a 20% increase in sales of its security solutions for the oil and gas industry in the first quarter of 2023. This is creating new opportunities for companies that provide oil and gas security and services.
IMPACT OF ONGOING RECESSION
The ongoing recession is expected to have a significant impact on the oil and gas security and service market. The market is expected to decline by 3.5% in 2023. The price of oil has fallen by more than 50% since the beginning of 2022. This has led to a decrease in investment in the oil and gas industry, which has reduced demand for security and services. Inflation is at a 40-year high in the United States. This is making it more expensive for oil and gas companies to operate, which is reducing their budgets for security and services. The oil and gas industry is a major target for cyber-attacks. In 2022, there were a number of high-profile cyber-attacks on oil and gas companies, which caused significant damage. This is making oil and gas companies more cautious about spending on security, as they are worried about becoming a target. In February 2023, Halliburton announced that it would be laying off 10,000 employees. This was the first major layoff in the oil and gas industry since the beginning of the recession. The recession is also making oil and gas companies more cautious about spending on security, as they are worried about becoming a target.
By Offering
Software
Services
By Security Type
Physical Security
Network Security
By Operation
Upstream
Midstream
Downstream
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North America
USA
Canada
Mexico
Europe
Eastern Europe
Poland
Romania
Hungary
Turkey
Rest of Eastern Europe
Western Europe
Germany
France
UK
Italy
Spain
Netherlands
Switzerland
Austria
Rest of Western Europe
Asia Pacific
China
India
Japan
South Korea
Vietnam
Singapore
Australia
Rest of Asia Pacific
Middle East & Africa
Middle East
UAE
Egypt
Saudi Arabia
Qatar
Rest of the Middle East
Africa
Nigeria
South Africa
Rest of Africa
Latin America
Brazil
Argentina
Colombia
Rest of Latin America
REGIONAL ANALYSIS
North America is expected to hold the largest market size in the global oil and gas security and service market. The region has been at the forefront of adopting oil and gas security solutions and has been extremely responsive toward adopting the latest technological advancements. The US and Canada are expected to be the major contributors to the North American oil and gas security and service market. In May 2023, the Department of Homeland Security awarded a $100 million contract to Dragos, a cybersecurity company, to provide cybersecurity services to the oil and gas industry. The contract includes a variety of services, such as risk assessment, vulnerability management, and incident response. The crude oil pipeline transportation market is set to witness significant growth in North America.
Asia Pacific is one of the fastest-growing regions in the oil and gas security and service market. The region is expected to grow at the highest CAGR during the forecast period. The rise in demand for oil and gas in the Asia Pacific region is driving the need for increased security measures. The adoption of cloud-based solutions in the oil and gas security and service market is an opportunity for the market in the Asia Pacific region. The region is also focusing on enhancing location-based intelligence and communication with customers and visitors in the oil and gas industry
The major players in the Oil and Gas Security and Service Market are Honeywell, Intel Security, Microsoft, Siemens, Symantec, ABB, Cisco Systems, Lockheed Martin, United Technologies, Waterfall Security, and other players.
Cisco Systems: In May 2023, Cisco Systems launched its new Industrial Cybersecurity Solution for Oil and Gas, a comprehensive solution for protecting OT networks and ICS systems. The solution includes a variety of security features, such as network segmentation, intrusion detection, and vulnerability management.
ABB: In June 2023, ABB launched its new Ability Security Suite, a comprehensive portfolio of cybersecurity solutions for the oil and gas industry. The suite includes solutions for protecting OT networks, ICS systems, and industrial data.
| Report Attributes | Details |
| Market Size in 2022 | US$ 27.3 Bn |
| Market Size by 2030 | US$ 44.1 Bn |
| CAGR | CAGR of 6.2 % From 2023 to 2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2020-2021 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Offering (Solution, Services) • By Security Type (Physical Security, Network Security) • By Operation (Upstream, Midstream, Downstream) |
| Regional Analysis/Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]). Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America) |
| Company Profiles | Honeywell, Intel Security, Microsoft, Siemens, Symantec, ABB, Cisco Systems, Lockheed Martin, United Technologies, Waterfall Security |
| Key Drivers | • Increased Expenditure on Network and Physical Security • The growing threat of cyber-attacks |
| Market Restraints | • High cost of security solutions |
Ans. The Compound Annual Growth rate for Oil and Gas Security and Service Market over the forecast period is 6.2%.
Ans. USD 44.1 Billion is the projected Oil and Gas Security and Service Market size of the Company by 2030.
Ans. The key drivers of the market include the rise in government regulations regarding safety and security, increased expenditure on network and physical security, and the growth of the oil and gas industry.
Ans. Oil and gas security and service refers to the implementation of physical and network security measures to ensure the safety and operational efficiency of the oil and gas industry.
Ans. The key components of the market include solutions such as software and services such as risk management services.
TABLE OF CONTENTS
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 Impact of Ukraine- Russia War
4.2 Impact of Recession
4.2.2.1 US
4.2.2.2 Canada
4.2.2.3 Germany
4.2.2.4 France
4.2.2.5 United Kingdom
4.2.2.6 China
4.2.2.7 Japan
4.2.2.8 South Korea
4.2.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Oil and Gas Security and Service Market, By Offering
8.1 Software
8.2 Service
9. Oil and Gas Security and Service Market By Security Type
9.1 Physical Security
9.2 Network Security
10. Oil and Gas Security and Service Market, By Operation
10.1 Upstream
10.2 Midstream
10.3 Downstream
11. Regional Analysis
11.1 Introduction
11.2 North America
11.2.1 North America Oil and Gas Security and Service Market by country
11.2.2North America Oil and Gas Security and Service Market by Offering
11.2.3 North America Oil and Gas Security and Service Market by Security Type
11.2.4 North America Oil and Gas Security and Service Market by Operation
11.2.5 USA
11.2.5.1 USA Oil and Gas Security and Service Market by Offering
11.2.5.2 USA Oil and Gas Security and Service Market by Security Type
11.2.5.3 USA Oil and Gas Security and Service Market by Operation
11.2.6 Canada
11.2.6.1 Canada Oil and Gas Security and Service Market by Offering
11.2.6.2 Canada Oil and Gas Security and Service Market by Security Type
11.2.6.3 Canada Oil and Gas Security and Service Market by Operation
11.2.7 Mexico
11.2.7.1 Mexico Oil and Gas Security and Service Market by Offering
11.2.7.2 Mexico Oil and Gas Security and Service Market by Security Type
11.2.7.3 Mexico Oil and Gas Security and Service Market by Operation
11.3 Europe
11.3.1 Eastern Europe
11.3.1.1 Eastern Europe Oil and Gas Security and Service Market by country
11.3.1.2 Eastern Europe Oil and Gas Security and Service Market by Offering
11.3.1.3 Eastern Europe Oil and Gas Security and Service Market by Security Type
11.3.1.4 Eastern Europe Oil and Gas Security and Service Market by Operation
11.3.1.5 Poland
11.3.1.5.1 Poland Oil and Gas Security and Service Market by Offering
11.3.1.5.2 Poland Oil and Gas Security and Service Market by Security Type
11.3.1.5.3 Poland Oil and Gas Security and Service Market by Operation
11.3.1.6 Romania
11.3.1.6.1 Romania Oil and Gas Security and Service Market by Offering
11.3.1.6.2 Romania Oil and Gas Security and Service Market by Security Type
11.3.1.6.4 Romania Oil and Gas Security and Service Market by Operation
11.3.1.7 Turkey
11.3.1.7.1 Turkey Oil and Gas Security and Service Market by Offering
11.3.1.7.2 Turkey Oil and Gas Security and Service Market by Security Type
11.3.1.7.3 Turkey Oil and Gas Security and Service Market by Operation
11.3.1.8 Rest of Eastern Europe
11.3.1.8.1 Rest of Eastern Europe Oil and Gas Security and Service Market by Offering
11.3.1.8.2 Rest of Eastern Europe Oil and Gas Security and Service Market by Security Type
11.3.1.8.3 Rest of Eastern Europe Oil and Gas Security and Service Market by Operation
11.3.2 Western Europe
11.3.2.1 Western Europe Oil and Gas Security and Service Market by Offering
11.3.2.2 Western Europe Oil and Gas Security and Service Market by Security Type
11.3.2.3 Western Europe Oil and Gas Security and Service Market by Operation
11.3.2.4 Germany
11.3.2.4.1 Germany Oil and Gas Security and Service Market by Offering
11.3.2.4.2 Germany Oil and Gas Security and Service Market by Security Type
11.3.2.4.3 Germany Oil and Gas Security and Service Market by Operation
11.3.2.5 France
11.3.2.5.1 France Oil and Gas Security and Service Market by Offering
11.3.2.5.2 France Oil and Gas Security and Service Market by Security Type
11.3.2.5.3 France Oil and Gas Security and Service Market by Operation
11.3.2.6 UK
11.3.2.6.1 UK Oil and Gas Security and Service Market by Offering
11.3.2.6.2 UK Oil and Gas Security and Service Market by Security Type
11.3.2.6.3 UK Oil and Gas Security and Service Market by Operation
11.3.2.7 Italy
11.3.2.7.1 Italy Oil and Gas Security and Service Market by Offering
11.3.2.7.2 Italy Oil and Gas Security and Service Market by Security Type
11.3.2.7.3 Italy Oil and Gas Security and Service Market by Operation
11.3.2.8 Spain
11.3.2.8.1 Spain Oil and Gas Security and Service Market by Offering
11.3.2.8.2 Spain Oil and Gas Security and Service Market by Security Type
11.3.2.8.3 Spain Oil and Gas Security and Service Market by Operation
11.3.2.9 Netherlands
11.3.2.9.1 Netherlands Oil and Gas Security and Service Market by Offering
11.3.2.9.2 Netherlands Oil and Gas Security and Service Market by Security Type
11.3.2.9.3 Netherlands Oil and Gas Security and Service Market by Operation
11.3.2.10 Switzerland
11.3.2.10.1 Switzerland Oil and Gas Security and Service Market by Offering
11.3.2.10.2 Switzerland Oil and Gas Security and Service Market by Security Type
11.3.2.10.3 Switzerland Oil and Gas Security and Service Market by Operation
11.3.2.11.1 Austria
11.3.2.11.2 Austria Oil and Gas Security and Service Market by Offering
11.3.2.11.3 Austria Oil and Gas Security and Service Market by Security Type
11.3.2.11.4 Austria Oil and Gas Security and Service Market by Operation
11.3.2.12 Rest of Western Europe
11.3.2.12.1 Rest of Western Europe Oil and Gas Security and Service Market by Offering
11.3.2.12.2 Rest of Western Europe Oil and Gas Security and Service Market by Security Type
11.3.2.12.3 Rest of Western Europe Oil and Gas Security and Service Market by Operation
11.4 Asia-Pacific
11.4.1 Asia-Pacific Oil and Gas Security and Service Market by Country
11.4.2 Asia-Pacific Oil and Gas Security and Service Market by Offering
11.4.3 Asia-Pacific Oil and Gas Security and Service Market by Security Type
11.4.4 Asia-Pacific Oil and Gas Security and Service Market by Operation
11.4.5 China
11.4.5.1 China Oil and Gas Security and Service Market by Offering
11.4.5.2 China Oil and Gas Security and Service Market by Security Type
11.4.5.3 China Oil and Gas Security and Service Market by Operation
11.4.6 India
11.4.6.1 India Oil and Gas Security and Service Market by Offering
11.4.6.2 India Oil and Gas Security and Service Market by Security Type
11.4.6.3 India Oil and Gas Security and Service Market by Operation
11.4.7 Japan
11.4.7.1 Japan Oil and Gas Security and Service Market by Offering
11.4.7.2 Japan Oil and Gas Security and Service Market by Security Type
11.4.7.3 Japan Oil and Gas Security and Service Market by Operation
11.4.8 South Korea
11.4.8.1 South Korea Oil and Gas Security and Service Market by Offering
11.4.8.2 South Korea Oil and Gas Security and Service Market by Security Type
11.4.8.3 South Korea Oil and Gas Security and Service Market by Operation
11.4.9 Vietnam
11.4.9.1 Vietnam Oil and Gas Security and Service Market by Offering
11.4.9.2 Vietnam Oil and Gas Security and Service Market by Security Type
11.4.9.3 Vietnam Oil and Gas Security and Service Market by Operation
11.4.10 Singapore
11.4.10.1 Singapore Oil and Gas Security and Service Market by Offering
11.4.10.2 Singapore Oil and Gas Security and Service Market by Security Type
11.4.10.3 Singapore Oil and Gas Security and Service Market by Operation
11.4.11 Australia
11.4.11.1 Australia Oil and Gas Security and Service Market by Offering
11.4.11.2 Australia Oil and Gas Security and Service Market by Security Type
11.4.11.3 Australia Oil and Gas Security and Service Market by Operation
11.4.12 Rest of Asia-Pacific
11.4.12.1 Rest of Asia-Pacific Oil and Gas Security and Service Market by Offering
11.4.12.2 Rest of Asia-Pacific Oil and Gas Security and Service Market by Security Type
11.4.12.3 Rest of Asia-Pacific Oil and Gas Security and Service Market by Operation
11.5 Middle East & Africa
11.5.1 Middle East
11.5.1.1 Middle East Oil and Gas Security and Service Market by Country
11.5.1.2 Middle East Oil and Gas Security and Service Market by Offering
11.5.1.3 Middle East Oil and Gas Security and Service Market by Security Type
11.5.1.4 Middle East Oil and Gas Security and Service Market by Operation
11.5.1.5 UAE
11.5.1.5.1 UAE Oil and Gas Security and Service Market by Offering
11.5.1.5.2 UAE Oil and Gas Security and Service Market by Security Type
11.5.1.5.3 UAE Oil and Gas Security and Service Market by Operation
11.5.1.6 Egypt
11.5.1.6.1 Egypt Oil and Gas Security and Service Market by Offering
11.5.1.6.2 Egypt Oil and Gas Security and Service Market by Security Type
11.5.1.6.3 Egypt Oil and Gas Security and Service Market by Operation
11.5.1.7 Saudi Arabia
11.5.1.7.1 Saudi Arabia Oil and Gas Security and Service Market by Offering
11.5.1.7.2 Saudi Arabia Oil and Gas Security and Service Market by Security Type
11.5.1.7.3 Saudi Arabia Oil and Gas Security and Service Market by Operation
11.5.1.8 Qatar
11.5.1.8.1 Qatar Oil and Gas Security and Service Market by Offering
11.5.1.8.2 Qatar Oil and Gas Security and Service Market by Security Type
11.5.1.8.3 Qatar Oil and Gas Security and Service Market by Operation
11.5.1.9 Rest of Middle East
11.5.1.9.1 Rest of Middle East Oil and Gas Security and Service Market by Offering
11.5.1.9.2 Rest of Middle East Oil and Gas Security and Service Market by Security Type
11.5.1.9.3 Rest of Middle East Oil and Gas Security and Service Market by Operation
11.5.2 Africa
11.5.2.1 Africa Transfusion Diagnostics Market by Country
11.5.2.2 Africa Oil and Gas Security and Service Market by Offering
11.5.2.3 Africa Oil and Gas Security and Service Market by Security Type
11.5.2.4 Africa Oil and Gas Security and Service Market by Operation
11.5.2.5 Nigeria
11.5.2.5.1 Nigeria Oil and Gas Security and Service Market by Offering
11.5.2.5.2 Nigeria Oil and Gas Security and Service Market by Security Type
11.5.2.5.3 Nigeria Oil and Gas Security and Service Market by Operation
11.5.2.6 South Africa
11.5.2.6.1 South Africa Oil and Gas Security and Service Market by Offering
11.5.2.6.2 South Africa Oil and Gas Security and Service Market by Security Type
11.5.2.6.3 South Africa Oil and Gas Security and Service Market by Operation
11.5.2.7 Rest of Africa
11.5.2.7.1 Rest of Africa Oil and Gas Security and Service Market by Offering
11.5.2.7.2 Rest of Africa Oil and Gas Security and Service Market by Security Type
11.5.2.7.3 Rest of Africa Oil and Gas Security and Service Market by Operation
11.6 Latin America
11.6.1 Latin America Oil and Gas Security and Service Market by Country
11.6.2 Latin America Oil and Gas Security and Service Market by Offering
11.6.3 Latin America Oil and Gas Security and Service Market by Security Type
11.6.4 Latin America Oil and Gas Security and Service Market by Operation
11.6.5 Brazil
11.6.5.1 Brazil America Oil and Gas Security and Service by Offering
11.6.5.2 Brazil America Oil and Gas Security and Service by Security Type
11.6.5.3 Brazil America Oil and Gas Security and Service by Operation
11.6.6 Argentina
11.6.6.1 Argentina America Oil and Gas Security and Service by Offering
11.6.6.2 Argentina America Oil and Gas Security and Service by Security Type
11.6.6.3 Argentina America Oil and Gas Security and Service by Operation
11.6.7 Colombia
11.6.7.1 Colombia America Oil and Gas Security and Service by Offering
11.6.7.2 Colombia America Oil and Gas Security and Service by Security Type
11.6.7.3 Colombia America Oil and Gas Security and Service by Operation
11.6.8 Rest of Latin America
11.6.8.1 Rest of Latin America Oil and Gas Security and Service by Offering
11.6.8.2 Rest of Latin America Oil and Gas Security and Service by Security Type
11.6.8.3 Rest of Latin America Oil and Gas Security and Service by Operation
12 Company Profile
12.1 Honeywell
12.1.1 Company Overview
12.1.2 Financials
12.1.3 Product/Services/Offerings
12.1.4 SWOT Analysis
12.1.5 The SNS View
12.2 Intel Security
12.2.1 Company Overview
12.2.2 Financials
12.2.3 Product/Services/Offerings
12.2.4 SWOT Analysis
12.2.5 The SNS View
12.3 Microsoft
12.3.1 Company Overview
12.3.2 Financials
12.3.3 Product/Services/Offerings
12.3.4 SWOT Analysis
12.3.5 The SNS View
12.4 Siemens
12.4.1 Company Overview
12.4.2 Financials
12.4.3 Product/Services/Offerings
12.4.4 SWOT Analysis
12.4.5 The SNS View
12.5 Symantec
12.5.1 Company Overview
12.5.2 Financials
12.5.3 Product/Services/Offerings
12.5.4 SWOT Analysis
12.5.5 The SNS View
12.6 ABB
12.6.1 Company Overview
12.6.2 Financials
12.6.3 Product/Services/Offerings
12.6.4 SWOT Analysis
12.6.5 The SNS View
12.7 Cisco Systems
12.7.1 Company Overview
12.7.2 Financials
12.7.3 Product/Services/Offerings
12.7.4 SWOT Analysis
12.7.5 The SNS View
12.8 Lockheed Martin
12.8.1 Company Overview
12.8.2 Financial
12.8.3 Product/Services/Offerings
12.8.4 SWOT Analysis
12.8.5 The SNS View
12.9 United Technologies
12.9.1 Company Overview
12.9.2 Financials
12.9.3 Product/Service/Offerings
12.9.4 SWOT Analysis
12.9.5 The SNS View
12.10 Waterfall Security
12.10.1 Company Overview
12.10.2 Financials
12.10.3 Product/Service/Offerings
12.10.4 SWOT Analysis
12.10.5 The SNS View
13. Competitive Landscape
13.1 Competitive Benchmarking
13.2 Market Share Analysis
13.3 Recent Developments
13.3.1 Industry News
13.3.2 Company News
13.3.3 Mergers & Acquisitions
14. USE Cases and Best Practices
15. Conclusion
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