Smart grid security technologies
November 23, 2011
According to a new report from ABI Research, an estimated $590 million was spent on smart grid security technologies in 2010 and by 2016 that number is projected to surpass $2 billion.
Security spending on transmission upgrades made up the largest portion of this spending, accounting for approximately 54% of the total in 2011. This segment is predicted to remain the largest for the next five years. Security spending on substation and distribution automation is also forecast to be significant over the next few years.
Electric vehicle (EV) charging stations are expected to see the highest security growth rates out of all smart grid segments, increasing from $6 million in 2011 to $150 million by 2016. EV charging stations faced similar security issues to smart meters, such as data protection and tampering with the charging stations. The largest areas of development in security will be EV authentication of vehicles and physical security features.
Over the last 3 years there has been an increased focus on smart grid security. As well as providing security protection against physical and cyber-attacks on the smart grid, utilities are spending significant amounts of money on closed-circuit television (CCTV) surveillance and security software.
