Cybersecurity Software in Energy and Utilities
The energy and utilities industry vertical are inclusive of producers and sellers of energy such as fuel extractors, manufacturers, refining and distribution companies, as well as the power generating and selling companies. The rapid adoption of innovative technologies in the energy and utilities industry vertical is speedily decreasing costs and becoming ubiquitous enabling more flexible and efficient consumption of electricity improving the visibility of the network use and enhancing the control of the power systems. These technologies are being deployed by this industry vertical aiming to improve power systems, increase the use of variable renewable energy sources such as wind and solar energy minimize the pollution as a part of the global climate change mitigation efforts and enhance interconnectedness of electricity grids and other critical infrastructure such as natural gas networks. Various regulatory compliances such as Federal Energy Regulatory Commission (FERC), Electric Reliability Organizations (ERO), North American Electric Reliability Corporation (NERC), and other regulate the security of the energy and utilities industry vertical. Cybersecurity solutions help the energy and utilities industry vertical to enhance operational efficiency and mitigate potential cyber threats. This industry vertical has deployed internet-based applications and services and integrated IoT technologies in its business. This digitalization has led to the generation of huge consumer sensitive data. Furthermore, it is becoming a big challenge for the energy and utilities organizations to prevent their data from network vulnerabilities. Hence these organizations are expected to adopt cybersecurity solutions and services to keep their information safe and secure.
COMPETITIVE LEADERSHIP MAPPING TERMINOLOGY
7 companies offering Cybersecurity Software in Energy and Utilities were analyzed, shortlisted and categorized on a quadrant under Visionary Leaders, Innovators, Dynamic Differentiators, and Emerging Companies.
IBM, Cisco, HPE, McAfee and Trend Mirco have been identified as visionary leaders as they have established product portfolios and a robust market presence and business strategy.
Check Point Software and Logrhythm have been identified as innovators as these vendors have a very focused product portfolio. However, they do not have very strong growth strategies for their overall business.
Vendor evaluations are based on two broad categories: product offering and business strategy. Each category carries various criteria, based on which vendors have been evaluated. The evaluation criteria considered under product offerings include breadth of offering, delivery, features/functionality, product quality and reliability, and product differentiation. The evaluation criteria considered under business strategy include geographic footprint (on the basis of geographic presence), channel strategy and fit, vision alignment, and effectiveness of growth (on the basis of innovations, partnerships, collaborations, and acquisitions).
Visionary Leaders generally receive high scores for most evaluation criteria. They provide mature and reputable mobile cybersecurity solutions. They also have strong business strategies. IBM, Cisco, HPE, McAfee and Trend Mirco are the leading players in the cybersecurity software market and are recognized as leaders. These vendors are making their presence felt by offering services that are required by most organizations.
Innovators demonstrate substantial product innovation as compared to their competitors. They have a very focused portfolio of cybersecurity software solutions and the potential to build strong business strategies for their business growth to be at par with the leaders. However, they do not have very strong growth strategies for their overall business. Check Point Software, and Logrhythm are recognized as innovators. Innovators have been at the forefront in deploying their services based on the clients’ custom software requirements for the niche market.
Dynamic Differentiators are established vendors with very strong business strategies. However, they are low in the product portfolio. They generally focus on a specific type of technology related to the product.
EMERGING COMPANIESEmerging Companies are specialized in offering highly niche and tailor-made solutions and services to their clients. They do not have very strong business strategies as compared to other established vendors. They might be new entrants in the market and require some more time before gaining significant market traction.
Cybersecurity Software in Energy and Utilities Quadrant
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- Breadth and Depth of Product Offerings
- Security Type
- Products/Solutions Offered
- Identity and Access Management (IAM)
- Risk and Compliance Management
- Unified Threat Management (UTM)
- Intrusion Detection System/Intrusion Prevention System (IDS/IPS)
- Security and Vulnerability Management
- Disaster Recovery
- Distributed Denial of Service Mitigation (DDoS)
- Add-on Product/Solutions
- Product Features and Functionality
- Professional Services
- Managed Services
- Professional Services
- Support and Maintenance
- Training and Education
- Risk & Threat Assessment
- End Users
- System Administrator
- Others, Please Specify
- Deployment Model
- Delivery Mode for Client Location
- Full Time Equivalent
- Subscription / Licensing
- Channel of Delivery
- Support and Services
- Level of Support
- Customer Redressal Mechanism/Program
- Pre Sales Support
- Software Requirement Specification (SRS)
- Product Demos
- Proof of Concept
- Dedicated Account Manager (DAM)
- Channel for Delivery of Support Services
- On-Site Support
- Remote Support