DUBLIN, Sept. 19, 2014 /PRNewswire/ -- Research and Markets has announced the addition of the "Global Smart Grid Cyber Security Market 2014-2018" report to their offering.
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.
The analysts forecast the Global Smart Grid Cyber Security market to grow at a CAGR of 9.7 percent over the period 2013-2018.
The Global Smart Grid Cyber Security market can be classified into five segments based on application: Smart Metering, Substation Automation, Electric Vehicles Management, Distribution Automation, and Transmission Upgrades.
The report, the Global Smart Grid Cyber Security Market 2014-2018, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the Americas and the EMEA and APAC regions; it also covers the Global Smart Grid Cyber Security market landscape and its growth prospects in the coming years. The report also includes a discussion of the key vendors operating in this market.
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 increased 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 network.
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
Key Topics Covered:
01. Executive Summary
02. List of Abbreviations
03. Scope of the Report
04. Market Research Methodology
06. Market Landscape
07. Market Segmentation by Application
08. Market Segmentation by Technology
09. Geographical Segmentation
10. Key Leading Countries
11. Buying Criteria
12. Market Growth Drivers
13. Drivers and their Impact
14. Market Challenges
15. Impact of Drivers and Challenges
16. Market Trends
17. Trends and their Impact
18. Vendor Landscape
19. Key Vendor Analysis
20. Other Reports in this Series
- BAE Systems
- Lockheed Martin
- Black and Veatch
- Cisco Systems
- Entergy Services
- N-Dimension Solutions
For more information visit http://www.researchandmarkets.com/research/nbhrsf/global_smart_grid
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SOURCE Research and Markets