The global oil and gas security and service market size was estimated at USD 25.51 billion in 2023 and is expected to expand at a CAGR of 5.4% from 2024 to 2030. Various factors such as technologies and security threats, rising regulatory compliance, Growing adoption of advanced technologies, and focus on operational safety are driving the growth of the market. The oil and gas industry is a target for various security threats, including terrorism, piracy, theft, and sabotage. As these threats become more advanced, oil and gas companies are investing more in security measures to protect their assets and personnel.

The surge in the use of cloud technologies in the oil and gas sector has increased its exposure to cyber threats. Historically, industry has managed to protect data and ensure privacy by segregating networks and bolstering outer defenses. However, the introduction of cloud computing presents both a challenge and an opportunity for the sector to enhance and renew its security measures through the adoption of cyber security practices. One of the hurdles is that many firms lack the necessary expertise, funds, and in-house servers, pushing them toward cloud solutions for better data security.

Stringent government regulations and policies concerning energy security and environmental preservation require the oil and gas industry to implement robust security measures. Furthermore, the growing adoption of advanced technology like surveillance, access control, and intrusion detection systems is driving the market growth. Companies are proactively pouring resources into security solutions to mitigate risk and protect essential infrastructure. Additionally, the development of new exploration and production opportunities, especially in offshore and hard-to-reach areas, has created a need for specialized security services to address distinct challenges. These factors collectively are driving the growth and development of the security and services market in the oil and gas sector.

Global Oil And Gas Security And Service Market Report Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global oil and gas security and service market report based on component, security, services, operation, application, and region.

• Component Outlook (Revenue, USD Billion, 2017 - 2030)
  • Solution
  • Services
    
    
• Security Outlook (Revenue, USD Billion, 2017 - 2030)
  • Physical Security
  • Network Security
    
    
• Services Outlook (Revenue, USD Billion, 2017 - 2030)
  • Risk Management Services
  • System Design, Integration, and Consulting
  • Managed Services
    
    
• Operation Outlook (Revenue, USD Billion, 2017 - 2030)
  • Upstream
  • Midstream
  • Downstream
    
    
• Application Outlook (Revenue, USD Billion, 2017 - 2030)
  • Exploring and Drilling
  • Transportation
  • Pipelines
  • Distribution and Retail Services
  • Others
    
    
• Regional Outlook (Revenue, USD Billion, 2017 - 2030)
  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • UK
    • Germany
    • France
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
    • South Korea
  • Latin America
    • Brazil
  • MEA
    • UAE
    • South Africa
    • KSA

Key Oil And Gas Security And Service Companies:

The following are the leading companies in the oil and gas security and service market. These companies collectively hold the largest market share and dictate industry trends.

• Cisco Systems, Inc.
• Honeywell International Inc.
• Huawei Technologies Co., Ltd.
• Intel Corporation
• Microsoft
• NortonLifeLock Inc.
• Schneider Electric
• Siemens
• United Technologies Inc.

Recent Developments

• In April 2024, Siemens launched Siemens Xcelerator, to automatically verify vulnerable production assets. Therefore, it is imperative for industrial firms to detect and mitigate potential security gaps within their systems. Siemens introduced a new cybersecurity software-as-a-service solution in response to the urgency of pinpointing cybersecurity in shop floor promptly,
• In September 2023, Huawei Technologies Co., Ltd. launched intelligent architecture and intelligent Exploration production (EP) solution for oil and gas industry. Huawei Technologies Co., Ltd.'s intelligent architecture for the oil and gas sector is constructed around six smart components: connectivity, sensing, platform, application, AI models, and foundation. Each component is structured with hierarchical decoupling. This design is adaptable to widely used third-party frameworks and is capable of integrating with third-party platforms and data lakes, whether they are existing or newly established.
• In September 2022, ABB introduced ABB Ability Cyber Security Workplace (CSWP), which integrates security solutions from ABB and other providers into a unified, comprehensive digital platform, enhancing the protection of critical industrial infrastructure. This platform enables engineers and operators to more swiftly identify and resolve issues, thereby reducing risk exposure by making cybersecurity data more accessible and easier to manage.

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