A recent Pike Research blog post discusses the first Smart Grid Cyber Security Summit in San Jose, CA as well as the major market opportunities in the smart meter security sector. As posted on Pike Research,
After listening to some of the expert presentations...[t]he refrain was consistent: the current grid, with its hodgepodge industrial control system (ICS) technologies, is highly vulnerable to a cyber attack that could destroy critical generation and T&D assets. Resulting outages could last for weeks, causing economic devastation. Smart grid integration could make it worse. Utility IT staffs with some security knowledge don’t understand ICS, and operations groups that do don’t trust, or even like, the IT groups. Nationally, very few experts (perhaps tens to low hundreds) understand enough ICS and IT to be useful.
However, according to Pike Research, the silver lining is that progress is being made in prioritizing security for the next-generation smart grid, with increased R&D from smart meter vendors as well as support from Congress.
Additionally, Pike Research points out the tremendous market opportunity in the smart meter security sector, forecasting revenue of upwards of $3.00 per meter over the next five years.
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