“The electrical grid is being modernized
and transformed into a smart grid”
Those requirements will drive major investments in smart grid
cyber security over the next several years, according to a recent
report from href=”http://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.pikeresearch.com%2F&esheet=6337890&lan=en-US&anchor=Pike+Research&index=1&md5=3fae5be3d2e079e4904b854a5f689e84”
target=”_blank”>Pike Research. The cleantech market
intelligence firm estimates that cyber security spending will
represent approximately 15% of total smart grid capital investment
between now and 2015.
Cumulative investment in the security sector will reach $21
billion between 2010 and 2015, with annual revenue reaching $3.7
billion by 2015. While North America will account for the largest
share of the market in that year, with revenue of $1.5 billion,
other regions will experience rapid growth also, including Asia
Pacific ($1.2 billion) and Europe ($784 million).
“The electrical grid is being modernized and transformed into a
smart grid,” says senior analyst Bob Gohn, “but industry players
have recognized that you can’t have a smart grid without smart
security. That’s why total investment in these critical technology
upgrades will grow at a rapid pace within the next few years.”
Smart grid deployments result in control networks and IT
networks that are more integrated, leading to increased
vulnerability to cyber attacks. One of the key elements for the
adoption of stronger security for smart grids is interoperable
smart grid standards; thus, the U.S. government has appointed the
National Institute of Standards and Technology (NIST) to develop
such standards for interoperability between disparate systems and
industry participants.
Pike Research’s report, href=”http://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.pikeresearch.com%2Fresearch%2Fsmart-grid-cyber-security&esheet=6337890&lan=en-US&anchor=%E2%80%9CSmart+Grid+Cyber+Security%E2%80%9D&index=2&md5=4c7f67fadaba716ca12b9ff453aaf137”
target=”_blank”>”Smart Grid Cyber Security”, analyzes global
market trends in terms of business drivers, technologies,
standards, objectives, and requirements. The report examines five
key cyber security categories: policy/planning/awareness, equipment
protection and configuration management, monitoring and incidence
response, access/audit/integrity, and risk management.
It includes profiles of key industry players and detailed market
forecasts for world regions, segmented by application, through
2015. An Executive Summary of the report is
available for free download on the firm’s href=”http://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.pikeresearch.com%2Fresearch%2Fsmart-grid-cyber-security&esheet=6337890&lan=en-US&anchor=website&index=3&md5=260a5ed721c5d165456d3fbbed3de359”
target=”_blank”>website.
As governments and utilities invest in smart grid deployments, the need for robust security