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
Energy Management Revenue for Healthcare Markets is Expected to Reach $2.2 Billion by 2024
An increasing demand for resiliency is expected to drive the market for energy management in hospitals, report finds • A recent report from Navigant Research examines the current state of the global market…
Read More »
The Number of Natural Gas Refueling Stations Is Expected to Reach Nearly 39,000 by 2025
Proliferation of natural gas as a fuel for vehicles is tied to government incentives and density of infrastructure, report finds • A new report from Navigant Research analyzes the market for natural gas refueling infrastructure…
Read More »
Honeywell and Nest Score Highest in Assessment of Smart Thermostat Vendors
Heightened consumer awareness of residential energy management is driving market competition, report finds • A new Leaderboard Report from Navigant Research examines the strategy and execution of 12…
Read More »
The Global Market for Building Commissioning Services Is Expected to Total Nearly $50 Billion from 2014 to 2024
Though currently a rare practice globally, the building commissioning market is expected to be driven by an increasing focus on energy efficiency and regulatory requirements, report finds • A recent report from Navigant Research examines the global market for building optimization and…
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":"8\/3\/2015"}