Global Oil and Gas Security and Service Market is valued approximately at USD 24.1 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 5.2 % over the forecast period 2020-2027. Oil and gas security and services include a variety of processes in the oil and gas operating sectors, namely midstream, downstream and upstream, which are protected with the help of a rigid network and physical security measures. The market for oil and gas security and services is attributed to increasing government legislation to ensure security at all phases of oil and gas exploration, processing, transport and storage. Governments have developed a number of cyber security strategies and policies and frameworks to ensure optimum security in the oil and gas sector. This has led to an increase in the global market for oil and gas security and services. Enhanced expenditure by oil and gas companies on network and physical security is further contributing towards the market growth. Whereas, high reliance on existing security solutions is expected to inhibit the market growth. Apart from this, the key players of global Oil and Gas Security and Service market have adopted various strategies to gain competitive advantage including product launch, mergers and acquisition, partnerships and agreements, investment, funding and others. For instance, In July 2019 Cisco purchased Sentryo, an Industrial Control Systems (ICS) network monitoring and security technology provider. By combining the capabilities of Sentryo with its network architecture, Cisco can bring the benefits of IoT to the oil and gas sector. Similarly, Honeywell unveiled a new wired gas detector in June 2018 which ultrasonically listens for leaks, complementing fixed gas detectors to help protect staff and facilities against deadly toxic and explosive gas leaks.

The regional analysis of global Oil and Gas Security and Service market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing has been at the forefront in adopting oil and gas security solutions. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027. Factors such as thriving oil and gas industry in the region has led to a surge in demand for oil and gas security and services this would create lucrative growth prospects for the Oil and Gas Security and Service market across Asia-Pacific region.

Major market player included in this report are:
Cisco
Honeywell
Siemens
Microsoft
Nortonlifelock
Lockheed Martin
Waterfall Security Solutions
ABB
Parsons
Fortinet


The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Component:
Solutions
Services
By Services:
Risk Management Services
System Design, Integration, and Consulting
Managed Services
By Security Type:
Physical Security
Network Security
By Operation:
Upstream
Midstream
Downstream

By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027

Target Audience of the Global Oil and Gas Security and Service Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors