Global Information Inc. would like to present a new market research report, "Smart Meter Security: Event Correlation Improvements, Security Software on Meters, Identity Management and Authorization, Network Resiliency, Meter Worm Prevention, and End-to-End Data Encryption" by Pike Research.
Smart meter deployment continues to pick up speed in nearly all regions of the world; however, as with all information technologies introduced in the past 50 years, cyber security was at first overlooked in the rush to create a working device. Now, utilities, governments, systems integrators, device manufacturers, and nearly everyone else involved realize that smart meters and their surrounding networks can be attacked, and that cyber security measures are necessary to protect the meters and their environment. A new report from Pike Research forecasts that investment in smart meter security will total $575 million worldwide during the period from 2010 to 2015, representing an average of about $3.00 per meter during that period.
Pike Researchs analysis indicates that a solution to this security gap is unlikely to be in place before 2012, and in fact many vendors in the industry demonstrate little interest in solving this problem, as long as data is adequately protected within their own domains. Yet, adds Lockhart, solving this problem could present a significant business opportunity.
Pike Researchs report, "Smart Meter Security", assesses in considerable detail the security risks to Smart Metering, using ISO27002:2005 as a baseline to identify topics for consideration. The study reviews Smart Metering against all 11 security clauses of ISO27002:2005 to identify six key security opportunities including event correlation improvements, security software on meters, identity management and authorization, network resiliency, meter worm prevention, and end-to-end data encryption. It includes an in-depth examination of the market issues and technology issues related to smart meter security, along with market forecasts for key world regions through 2015.