Utilities to Invest $21 Billion in Smart Grid Cyber Security by 2015

February 4, 2010

As utilities around the world have initiated major smart grid infrastructure upgrades over the past several years, cyber security has become a critical priority.  Security measures are designed to protect the electrical grid from attacks by terrorists and hackers, as well as strengthening its resilience against natural disasters and inadvertent threats such as equipment failures and user errors. 

According to a new report from Pike Research, the intense focus on smart grid cyber security from utilities, infrastructure vendors, standards bodies, and world governments is spurring a surge in revenue growth, and the cleantech market intelligence firm forecasts that the sector will increase from $1.2 billion in 2009 to $3.7 billion by 2015.  During the period from 2010 to 2015, Pike Research anticipates that a total of approximately $21 billion will be invested in global smart grid cyber security deployments.

“No utility wants to be the weak link in the chain,” says managing director Clint Wheelock.  “The concern over grid vulnerability is driving utility technologists to work closely with systems integrators, infrastructure suppliers, and standards bodies to develop a robust framework for smart grid cyber security across multiple domains.”  Wheelock adds that this process has accelerated over the past year, spurred in large part by the U.S. Department of Energy’s smart grid stimulus programs, the standards initiatives of the National Institute of Standards and Technology (NIST), and key priorities promoted by the Federal Energy Regulatory Commission (FERC).

Pike Research forecasts that equipment protection and configuration management will be the largest security category over the next several years.  Among smart grid applications, the firm expects that the greatest investments will go into cyber security for distribution automation (DA) and transmission upgrades, followed by security measures for advanced metering infrastructure (AMI) smart meters.

Pike Research’s report, “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 website.

Pike Research is a market research and consulting firm that provides in-depth analysis of global clean technology markets.  The company’s research methodology combines supply-side industry analysis, end-user primary research and demand assessment, and deep examination of technology trends to provide a comprehensive view of the Smart Energy, Clean Transportation, Clean Industry, Corporate Sustainability, and Building Efficiency sectors.  For more information, visit www.navigantresearch.com or call +1.303.953.9765. 

Register to Receive Updates

Sign up or login to receive free newsletters, research updates, access to webinars, and other analyst content from Navigant Research.

Research News

Rss
Grid-Scale Energy Storage Systems Launched In 2013-2014 Total More Than 360 Megawatts
September 30, 2014Lithium ion systems have crossed a threshold in terms of deployments, report finds • A new report from Navigant Research provides a comprehensive resource of grid-scale energy storage…
Read More »
Microgrid Enabling Technologies Are Expected to Exceed $26 Billion in Annual Revenue by 2023
September 29, 2014Advanced energy storage on track to become a key emerging technology for the microgrid market, report concludes • A new report from Navigant Research analyzes the global market for significant microgrid enabling…
Read More »
Investment in Building Energy Management for Small and Medium-Sized Buildings is Expected to Total Nearly $6.1 Billion From 2014 to 2022
September 24, 2014New regulations and the adoption of enterprise energy management are driving market growth, report finds • A new report from Navigant Research analyzes the global market for building energy management…
Read More »
Revenue from Smart Waste Technology is Expected to Exceed $42 Billion From 2014-2023
September 23, 2014Waste is becoming a strategic renewable resource, report finds • A new report from Navigant Research analyzes the global market for smart waste technologies,…
Read More »
View All News

{"userID":"","pageName":"Utilities to Invest $21 Billion in Smart Grid Cyber Security by 2015","path":"\/newsroom\/utilities-to-invest-21-billion-in-smart-grid-cyber-security-by-2015","date":"9\/30\/2014"}