Cyber Security in Smart Grid – Market Size, Key Issues, Regulations and Outlook to 2020

Published: September 2012
No. of Pages: 60
  

This 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.


Scope

  • 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

Additional Info:

China's Cyberattack Fears To Spark Massive Defense Spending


China's concerns over the safety of its power infrastructure will result in astronomical security spending over the next decade. This new report "Cyber Security in Smart Grid – Market Size, Key Issues, Regulations and Outlook to 2020" says that China's 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 country's 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.

Cyber Security in Smart Grid – Market Size, Key Issues, Regulations and Outlook to 2020

Table Of Contents

1 Table of Contents 2
1.1 List of Tables 4
1.2 List of Figures 4

2 Introduction 5
2.1 Smart Grid Cyber Security 5
2.2 GlobalData Report Guidance 6

3 Global Market for Smart Grid Cyber Security 7
3.1 Smart Grid Cyber Security Market, Global, Annual Revenues, $bn, 2011-2020 9
3.2 Smart Grid Cyber Security Market, Global, Key Drivers, 2011 11
3.2.1 Concern for Data Privacy 11
3.2.2 Networking of Grid Assets 11
3.2.3 Protection from External Threats 11
3.2.4 Rise of Hacktivism to Highlight Social or Political Cause 12
3.3 Smart Grid Cyber Security Market, Global, Key Barriers, 2011 12
3.3.1 Lack of Standards for Cyber Security Solutions in Smart Grid 12
3.3.2 Lack of Security Features Built into Smart Grid Devices 12
3.3.3 Lack of Effective Mechanism for Sharing Information on Cyber Security 13
3.3.4 Focus of Utilities on Regulatory Compliance instead of Comprehensive Security 13
3.3.5 Lack of Widespread Regulations on Cyber Security 13
3.4 Smart Grid Cyber Security Market, Global, Key Issues 14
3.4.1 Limited Scope of Cyber Security Standards in Smart Grid 14
3.4.2 Rise in Mergers and Acquisitions among the Cyber Security Vendors 14
3.4.3 Entry of Big Players into the Smart Grid Cyber Security Market
3.4.4 Utilities Consider Cyber Security an Unnecessary Cost 15
3.5 Smart Grid Cyber Security Market, Global, Government and Private Financing Scenario, 2011 15
3.6 Smart Grid Cyber Security, Global, Key Organizations Promoting Technology Deployment 16
3.6.1 National Institute of Standards and Technology 16
3.6.2 European Network and Information Security Agency 17
3.6.3 European Network for Cyber Security 17

4 Smart Grid Cyber Security Market, Regional Segmentation 18
4.1 Smart Grid Cyber Security Market, North America, 2011-2020 20
4.2 Smart Grid Cyber Security Market, Europe, 2011-2020 21
4.3 Smart Grid Cyber Security Market, Asia-Pacific, 2011-2020 23
4.4 Smart Grid Cyber Security Market, Rest-of-the-World, 2011-2020

5 Smart Grid Cyber Security Market in Key Countries 27
5.1 Smart Grid Cyber Security Market, the US, 2011-2020 27
5.1.1 Smart Grid Cyber Security Market, the US, Annual Revenues, $bn, 2011-2020 27
5.1.2 Smart Grid Cyber Security Market, the US, Key Drivers 29
5.1.3 Smart Grid Cyber Security Market, the US, Key Barriers 29
5.1.4 Smart Grid Cyber Security Market, the US, Standards 29
5.1.5 Smart Grid Cyber Security Market, the US, Key Policies, 2011
5.2 Smart Grid Cyber Security Market, Canada, 2011-2020 32
5.2.1 Smart Grid Cyber Security Market, Canada, Annual Revenues, $bn, 2011-2020 33
5.2.2 Smart Grid Cyber Security Market, Canada, Key Drivers 34
5.2.3 Smart Grid Cyber Security Market, Canada, Standards 34
5.2.4 Smart Grid Cyber Security Market, Canada, Key Policies, 2011
5.3 Smart Grid Cyber Security Market, Germany, 2011-2020 35
5.3.1 Smart Grid Cyber Security Market, Germany, Annual Revenues, $bn, 2011-2020 35
5.3.2 Smart Grid Cyber Security Market, Germany, Key Drivers 37
5.3.3 Smart Grid Cyber Security Market, Germany, Standards 37
5.3.4 Smart Grid Cyber Security Market, Germany, Key Policies, 2011 37
5.4 Smart Grid Cyber Security Market, the UK, 2011-2020 38
5.4.1 Smart Grid Cyber Security Market, the UK, Annual Revenues, $bn, 2011-2020 38
5.4.2 Smart Grid Cyber Security Market, the UK, Key Drivers 40
5.4.3 Smart Grid Cyber Security Market, the UK, Key Barriers 40
5.4.4 Smart Grid Cyber Security Market, the UK, Standards 40
5.4.5 Smart Grid Cyber Security Market, the UK, Key Policies, 2011
5.5 Smart Grid Cyber Security Market, the Netherlands, 2011-2020
5.5.1 Smart Grid Cyber Security Market, the Netherlands, Annual Revenues, $bn, 2011-2020 41
5.5.2 Smart Grid Cyber Security Market, the Netherlands, Key Driver
5.5.3 Smart Grid Cyber Security Market, the Netherlands, Standards
5.5.4 Smart Grid Cyber Security Market, the Netherlands, Key Policies, 2011 43
5.6 Smart Grid Cyber Security Market, China, 2011-2020 44
5.6.1 Smart Grid Cyber Security Market, China, Annual Revenues, $bn, 2011-2020 44
5.6.2 Smart Grid Cyber Security Market, China, Key Drivers 46
5.6.3 Smart Grid Cyber Security Market, China, Standards 46

6 Smart Grid Cyber Security Technology 47
6.1 Overview 47
6.2 Technology Trends Influencing Cyber Security in the Smart Grid
6.3 Smart Grid Cyber Security Market, Research and Development Trends 50

7 Vendor Landscape Analysis 51
7.1 Overview 51
7.2 Smart Grid Cyber Security Market, Global, Product Segment Analysis, 2011 51
7.2.1 Cyber Security Solutions 51
7.2.2 Cyber Security Services 51
7.2.3 Cyber Security Hardware 52
7.3 Smart Grid Cyber Security Market, Global, Key Vendors, 2011 52
7.3.1 Cisco Systems, Inc. 52
7.3.2 International Business Machines Corporation 52
7.3.3 N-Dimension Solutions Inc. 53
7.3.4 SAIC, Inc. 53
7.3.5 Symantec Corporation 54
7.3.6 NXP Semiconductors N.V. 54
7.3.7 S&C Electric Company 55
7.3.8 Waterfall Security Solutions Ltd. 55

8 Appendix 56
8.1 Market Definition 56
8.1.1 Smart Meters 56
8.1.2 Smart Grid Cyber Security 56
8.1.3 Substation Automation 56
8.2 Abbreviations 56
8.3 Sources 58
8.4 Methodology 59
8.4.1 Coverage 59
8.4.2 Secondary Research 59
8.4.3 Primary Research 59
8.4.4 Modeling and Forecasting 60
8.5 Contact Us 60
8.6 Disclaimer 60

List Of Tables

Table 1: Smart Grid Cyber Security Market, Global, Annual Revenues ($bn), 2011-2020 9
Table 2: Smart Grid Cyber Security Market, Global, Comparison of Annual Revenues Including and Excluding China ($bn), 2011-2020 10
Table 3: Smart Grid Cyber Security Market, the US, ARRA Funding for Cyber Security Projects, 2010 16
Table 4: Smart Grid Cyber Security Market, Global, Regional Segmentation of Market Value ($bn), 2011 19
Table 5: Smart Grid Cyber Security Market, North America, Annual Revenues ($bn), 2011-2020 20
Table 6: Smart Grid Cyber Security Market, Europe, Key Country Market Share (%), 2011 21
Table 7: Smart Grid Cyber Security Market, Europe, Annual Revenues ($bn), 2011-2020 22
Table 8: Smart Grid Cyber Security Market, Asia-Pacific, Comparison of Annual Revenues Including and Excluding China ($bn), 2011-2020 24
Table 9: Smart Grid Cyber Security Market, Rest-of-the-World, Annual Revenues ($bn), 2011-2020 26
Table 10: Smart Grid Cyber Security Market, the US, Annual Revenues ($bn), 2011-2020 28
Table 11: Smart Grid Cyber Security Market, the US, Critical Infrastructure Protection Standards, 2011 30
Table 12: Smart Grid Cyber Security Market, Canada, Annual Revenues ($bn), 2011-2020 33
Table 13: Smart Grid Cyber Security Market, Germany, Annual Revenues ($bn), 2011-2020 36
Table 14: Smart Grid Cyber Security Market, the UK, Annual Revenues ($bn), 2011-2020 39
Table 15: Smart Grid Cyber Security Market, the Netherlands, Annual Revenues ($bn), 2011-2020 42
Table 16: Smart Grid Cyber Security Market, China, Annual Revenues ($bn), 2011-2020 45
Table 17: Smart Grid Cyber Security Market, China, List of International Security Standards Developed by State Grid Corporation of China 46
Table 18: Smart Grid Cyber Security Market, List of Interfaces for Cyber Security Application, 2010 48
Table 19: List of Abbreviations 56

List Of Figures

Figure 1: Smart Grid Cyber Security Market, Global, Growth Stages of Regional Markets, 2011-2020 7
Figure 2: Smart Grid Cyber Security Market, Global, Annual Revenues ($bn), 2011-2020 9
Figure 3: Smart Grid Cyber Security Market, Global, Comparison of Annual Revenues Including and Excluding China ($bn), 2011-2020 10
Figure 4: Smart Grid Cyber Security Market, Global, Comparison of Regional Growth ($bn), 2011-2020 18
Figure 5: Smart Grid Cyber Security Market, Global, Regional Segmentation (%), 2011 19
Figure 6: Smart Grid Cyber Security Market, North America, Annual Revenues ($bn), 2011-2020 20
Figure 7: Smart Grid Cyber Security Market, Europe, Key Country Market Share (%), 2011 21
Figure 8: Smart Grid Cyber Security Market, Europe, Annual Revenues ($bn), 2011-2020 22
Figure 9: Smart Grid Cyber Security Market, Asia-Pacific, Comparison of Annual Revenues Including and Excluding China ($bn), 2011-2020 24
Figure 10: Smart Grid Cyber Security Market, Rest-of-the-World, Annual Revenues ($bn), 2011-2020 25
Figure 11: Smart Grid Cyber Security Market, the US, Annual Revenues ($bn), 2011-2020 28
Figure 12: Smart Grid Cyber Security Market, Canada, Annual Revenues ($bn), 2011-2020 33
Figure 13: Smart Grid Cyber Security Market, Germany, Annual Revenues ($bn), 2011-2020 36
Figure 14: Smart Grid Cyber Security Market, the UK, Annual Revenues ($bn), 2011-2020 39
Figure 15: Smart Grid Cyber Security Market, the Netherlands, Annual Revenues ($bn), 2011-2020 41
Figure 16: Smart Grid Cyber Security Market, the Netherlands, Framework for Security and Privacy 43
Figure 17: Smart Grid Cyber Security Market, China, Annual Revenues ($bn), 2011-2020 45
Figure 18: Smart Grid Cyber Security Market, Schematic Representation of Cyber Security Application 49

Published By: GlobalData
Product Code: GlobalData26166


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