|[October 22, 2012]
Research and Markets: Cyber Security in Smart Grid - Market Size, Key Issues, Regulations and Outlook to 2020
DUBLIN --(Business Wire)--
Research and Markets (http://www.researchandmarkets.com/research/jxgtv2/cyber_security_in)
has announced the addition of GlobalData's new report "Cyber Security in
Smart Grid - Market Size, Key Issues, Regulations and Outlook to 2020"
to their offering.
China's Cyber-Attack 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, states the
latest report by international business analysts GlobalData.
The new paper* 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 ar 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
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.
This report provides insights into global developments related to cyber
security in smart grid.
This report was built using data and information sourced from
proprietary databases, primary and secondary research, and in-house
analysis conducted by GlobalData's team of industry experts.
- Cisco Systems (News - Alert), Inc.
- International Business Machines Corporation
- N-Dimension Solutions Inc.
- SAIC, Inc.
- Symantec (News - Alert) Corporation
- NXP Semiconductors N.V.
- S&C Electric Company
- Waterfall Security Solutions Ltd.
For more information visit http://www.researchandmarkets.com/research/jxgtv2/cyber_security_in
Source (News - Alert): GlobalData
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