Smart grid cyber security revenue to reach $1.3 billion by 2015
For many industry and government leaders, the lure of the smart grid appears irresistible. If smart grids can realize their full potential, consumers, utilities, nations, and even the earth itself will benefit. As with nearly any new technology, the industry focus has been on getting smart grids up and running, often with little consideration for cyber security issues.
However, a recent report from Pike Research finds that investment in securing the grid from malicious attacks, natural disasters, and other accidents is picking up pace.
Senior analyst Bob Lockhart, said: â€œSmart grid cyber security is significantly more complex than the traditional IT security world. It is a common misperception that IT networks and industrial control systems have the same cyber security issues and can be secured with the same countermeasures. They cannot.
â€œTo successfully secure the electrical grid, utilities and their key suppliers must design solutions that effectively bridge the worlds of information and operations technology.â€
Over the next few years, Pike Research anticipates that growth in the smart grid cyber security market will produce opportunities not only for hardware and software sales, but also for a number of new professional services opportunities. These service offerings will help utilities navigate the minefield of threats and challenges that pose fundamental risks to the integrity of the grid infrastructure.
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