Cyber Security in Smart Grid - Market Size, Key Issues, Regulations and Outlook to 2020
GlobalData's latest research "Cyber Security in Smart Grid - Market Size, Key Issues, Regulations and Outlook to 2020" provides insights into global developments related to cyber security in smart grid. The global market for cyber security in smart grid is in the introductory phase with considerable measures being undertaken by countries around the world. The US National Institute of Standards and Technology (NIST) published guidelines for implementing cyber security in smart grid during 2010 and a revised version in 2012, and these guidelines are being considered by a number of countries across the globe for implementation. In Europe, the UK, Germany and the Netherlands are the key countries for smart grid cyber security, as there are a number of guidelines and policies in place to data privacy. The global smart grid cyber security market (excluding China) will grow gradually during the 2012-2020 period. The market, excluding China, is expected to grow at a Compound Annual Growth rate (CAGR) of 21% during 2011-2020 while China will grow at a CAGR of 40% during the same period. The report covers various aspects of cyber security industry in smart grid such as market sizing, outlook, key issues and competitive landscape analysis. Starting with a discussion on the global market for cyber security solutions in smart grid, it explores initiatives undertaken for deployment of cyber security solutions in smart grid globally. The report explains smart grid cyber security industry dynamics, both globally and in key nations by identifying the key market drivers and barriers, standards, policies and technology trends. Analysis of the key issues that are influencing the global market for cyber security solutions in smart grid is central to the report.
Market size and forecasts of the global and key smart grid cyber security markets
Key geographies including the US, Canada, the UK, Germany, the Netherlands and China
Annualized market revenue data from 2011 to 2020.
Key industry metrics such as growth drivers and restraints
Competitive Scenario Analysis for players in the smart grid cyber security industry with profiles of companies such as Cisco Systems, Inc., International Business Machines Corporation, N-Dimension Solutions Inc., SAIC, Inc., Symantec Corporation, NXP Semiconductors N.V., S&C Electric Company and Waterfall Security Solutions Ltd.
Regulatory framework - Policies and standards governing the market
Reasons to buy
Identify the high-growth markets in the global smart grid cyber security arena
Facilitate strategic decision making in the smart grid cyber security industry
Inform your decisions on market penetration and expansion plans in the smart grid cyber security industry
Identify and capitalize on key industry trends
Develop a robust understanding of the historic market scenario to inform your deal-making decisions
Gain competitive intelligence in the global smart grid cyber security industry
Chalk out an action plan for a smart grid cyber security product roll-out
Cyber Security in Smart Grid - Market Size, Key Issues, Regulations and Outlook to 2020 published by GlobalData in September 30, 2012. This report consists of Pages: 60 and the price starts from US $ 3995.
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China's Cyber-Attack Fears to Spark Massive Defense Spending, Reaching $50 Billion by 2020
October 17th, 2012
Global Information Inc. would like to present a new market research report, "Cyber Security in Smart Grid - Market Size, Key Issues, Regulations and Outlook to 2020" by GlobalData.
Chinas concerns over the safety of its power infrastructure will result in astronomical security spending over the next decade, states the latest report by international business analysts GlobalData.
The new report, " Cyber Security in Smart Grid - Market Size, Key Issues, Regulations and Outlook to 2020 ", says that Chinas cyber security market will expand remarkably in the coming years, from a valuation of $1.8 billion in 2011 to $50 billion by 2020, representing a dramatic compound annual growth rate (CAGR) increase of 44.7%.
The study describes the countrys cyber security market as an anomaly, due to the scale of expenditure when compared with that of other regions - Europe and North America combined are predicted to spend a comparatively modest $16 billion during the same period.
The Asian giant has a strained relationship with a number of nations in relation to cyber security, with the US in particular often accusing Chinese hackers of attempting to breach their power systems, although this has never been confirmed by Chinese government. Such accusations may have fostered an environment of mistrust in which the Chinese authorities expect retaliatory cyber-attacks on their own power infrastructure.
However, as GlobalData explains, for a country experiencing rapid urbanization and undertaking smart grid construction on a vast geographical scale, the cost of protecting all available access points will be huge. The smart grid building phase is expected to be complete by 2015, at which point tens of thousands of homes will be securely connected at an approximate cost of $1,000 per household.
The Stuxnet computer worm, discovered in 2010, was a major example of the vulnerability of power grids to malicious cyber-attack. The worm focused on five Iran-based organizations and was believed by many to be a deliberate attempt to disrupt the Iranian nuclear power program.