TechNavio recognizes the following companies as the key players in the Global Smart Grid Cyber Security Market: BAE Systems plc, Cisco Systems Inc., IBM Corp., Industrial Defender Inc., IOActive Inc., Lockheed Martin Corp., McAfee Inc., Siemens AG, Symantec Corp., and ViaSat Inc.
Commenting on the report, an analyst from TechNavio’s team said: “The Global Smart Grid market has been witnessing new vulnerabilities over the years. Approximately 4,396 new vulnerabilities were detected during 2010, which may increase in the coming years. The different components within smart grids, which are prone to virus attacks are IT systems such as computers, servers, databases, and web services; communications networks such as Ethernet, Wi-Fi, and ZigBee; operational technologies such as supervisory control and data acquisition, power line communications, energy management systems, and intelligent electronic devices; end access points such as smart meters, smartphones, and other mobile devices; and human influences such as lack of training and misuse of universal serial bus drives. Due to the increase in the complexity of the smart grid networks it has increased the threat of cyber-attacks, which is in turn driving the growth of the market.”
According to the report, one of the major drivers is the increase in occurrence of cyber threats. The increase in adoption of smart grids, which facilitate two-way communications through various communication networking, increases the threat of cyber-attacks. As this hampers the security of sensitive and personal data of the smart grid customers, the demand for smart grid cyber security systems has increased. This in turn boosts the growth of the Global Smart Grid Cyber Security market.
Further, the report states that one of the major challenges in this market is the lack of disclosure mechanisms. Various power utilities across the world are reluctant to disclose the occurrence of smart grid cyber-attacks, due to the fear of more grid vulnerabilities being exposed. If more vulnerabilities are exposed it will reduce the loyalty of various customers. The disclosure mechanism in the industry is also weak; this will in turn make it difficult for the market to grow at a fast pace in the future.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors. For further information on this report, please visit https://www.technavio.com/report/global-smart-grid-cyber-security-market-…
TechNavio, the market research platform of Infiniti Research Ltd., publishes periodic market research reports on niche and emerging technologies. For more information on our market research, please visit https://www.technavio.com/energy
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TechNavio Announces the Publication of its Research Report -Global Smart Grid Cyber Security Market 2012-2016
