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The global oil and gas security and service market size is expected to grow from an estimated value from USD 25.3 billion in 2020 to USD 32.5 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 5.2% during the forecast period.
The oil and gas security and service industry is driven by various factors, such as growing political instability in Middle East and need to ensure compliance with industry regulations in oil and gas security and service market. However, high reliance on existing security solutions can hinder the growth of the market.
The recent COVID-19 pandemic is expected to impact the oil and gas security and service industry. The pandemic and subsequent response is already exerting pressure on governments, economies, households, and different industries across world. The oil and gas industry, both on shore and offshore, are mostly affected by Stuxnet and Exxon’s Torrance. Fluctuation in oil prices and political instability
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