Spending on smart grid security technologies to touch $2 billion in 2016

An estimated $590 million was spent on
smart grid security technologies in 2010. By 2016 that number is projected to
surpass $2 billion.

Smart grid security covers identity
management and access controls, threat and theft defense, industrial control
system security, smart grid cellular communications, physical safety and
security, and other security types.

Security spending on transmission upgrades
made up the largest portion of smart grid spending, accounting for
approximately 54 percent of the total in 2011. This segment is predicted to
remain the largest for the next five years. Additionally, security spending on
substation and distribution automation is forecast to be significant over the
next few years as well.

Electric vehicle (EV) charging stations are
projected to see the highest security growth rates out of all the smart grid
segments, growing from $6 million in 2011 to $150 million by 2016. EV charging
stations faced similar security issues to smart meters, such as data protection
and tampering with the charging stations. The biggest areas of development in
the security arena will be EV authentication of vehicles and physical security

“There has been an enormous focus on smart
grid security, particularly over the last two to three years. As well as
providing security protection against physical and cyber-attacks on the smart
grid, utilities are spending significant amounts of money on closed-circuit
television surveillance and security software,” said Josh Flood, senior
analyst, ABI Research.

By Telecomlead.com Team

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