|[August 29, 2014]
Research and Markets: Global Smart Grid Cyber Security Market 2014-2018: Key Vendors Dominating are BAE Systems, IBM, IOActive, Lockheed Martin & Symantec
DUBLIN --(Business Wire)--
Research and Markets (http://www.researchandmarkets.com/research/5pkrkm/global_smart_grid)
has announced the addition of the "Global
Smart Grid Cyber Security Market 2014-2018" report to their
The Global Smart Grid Cyber Security market to grow at a CAGR of 9.7%
over the period 2013-2018
Smart grid cyber security involves the protection of smart grid
technology from various cyber threats. The security of the smart grid
network is a major issue faced by power utilities because there is a
frequent exchange of sensitive information via communication networks
such as the internet, intranets, corporate networks, and extranets.
Power utilities need various controlling techniques to moderate the
adverse effects of unauthorized access of smart grid data. Hackers, for
instance, can take control of smart grid applications and servers and
access confidential information. Therefore, the smart grid requires
security measures not only to handle systems and equipment but also to
secure the exchange of information between systems.
One of the emerging trends in the market is the growing use of
off-the-shelf applications. An increase in various smart grid challenges
such as the ones seen in IT, communication networks, and other devices
within the grid led to an increase focus on the need to closely
monitor, detect, and eventually prevent cyber threats.
According to the report, one major driver in the market is the increase
in complexity of cyber threats. An increase in the adoption of smart
grids, which enable two-way communication through various communication
networking mechanisms, paves the way for increased cyber-attacks. There
was an increase in demand for smart grid cyber security systems because
of a corresponding increase in the risk of hackers gaining access to
sensitive information and data pertaining to customers of the smart grid
Further, the report states that one major challenge in the market is the
lack of effective defensive measures to tackle cyber attacks. Various
power utilities worldwide are reluctant to disclose the occurrence of
smart grid cyber attacks because of more grid vulnerabilities being
exposed and the ensuing negative impact on customer loyalty. The feeble
nature of the disclosure mechanism in the industry would in turn make it
difficult for the market to grow rapidly in the future
The Global Smart Grid Cyber Security market can be classified
into five segments based on application:
Electric Vehicles Management
Key Questions Answered in this Report
What will the market size be in 2018 and what will the growth rate be?
What are the Key Market Trends?
What is driving this market?
What are the challenges to market growth?
Who are the key vendors in this market space?
What are the market opportunities and threats faced by the key vendors?
What are the strengths and weaknesses of the key vendors?
Increased Complexity of Cyber Threats
Lack of Effective Defensive Measures
Increased Use of Off-the-shelf Applications
IBM (News - Alert)
Other Prominent Vendors
AlienVault (News - Alert)
Black and Veatch
Siemens (News - Alert)
For more information visit http://www.researchandmarkets.com/research/5pkrkm/global_smart_grid
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