Industrial control systems face funding challenges

BOULDER, Colo. -- - Discussions of security for smart grid industrial control systems ICS among utilities, vendors, systems integrators, and public regulators have become more common in recent years, and utilities as a group appear to be better informed of cyber risks to their grids and substations.

However, funding for these upgrades remains spotty, according to a recent report from Navigant Research. The market for smart grid ICS cyber security will reach $608 million in 2020, expanding at a relatively slow compound annual growth rate of 6.4 percent, the study concludes.

“Despite that discouraging overview, though, progress will be steady as the cost of complacency becomes more visible.”

“Utilities’ awareness of potential threats and risks to industrial control systems is growing, but utilities mainly view security as a method of limiting costs, and advances toward meaningful regulations remain weak,” says Bob Lockhart, senior research analyst with Navigant Research. “Despite that discouraging overview, though, progress will be steady as the cost of complacency becomes more visible.”

One sign of progress is the increasing number of utility cyber security consulting engagements. However, legacy systems often lack basic information on devicesÂ’ locations and their mode of communicating with the network, making security assessments difficult. In such cases, a pre-assessment project to map the network is required. For utilities hoping to deploy one or two new products and declare victory, this can be disappointing news.

The report, “Industrial Control Systems Security”, examines in detail the market dynamics and most important technology issues for the emerging smart grid control systems security sector. The report profiles key providers of control systems cyber security, and provides detailed analysis of the market by smart grid application, by region, and by type of control system technology, including human-machine interfaces, control consoles, telecommunications, and device controllers. Worldwide market forecasts for 2012 through 2020, segmented by application, by technology, and by region, are also presented.

An Executive Summary of the report is available for free download on the Navigant Research website.

Related News

solar-storage-cheaper-than-conventional-power

Solar Plus Battery Storage Cheaper Than Conventional Power in Germany

GERMANY - Germany, a global leader in renewable energy adoption, has reached a significant milestone: the cost of solar power combined with battery storage has now fallen below that of conventional electricity sources. This development marks a transformative shift in the energy landscape, showcasing the increasing affordability and competitiveness of renewable energy technologies and reinforcing Germany’s position as a pioneer in the transition to sustainable energy.

The decline in costs for solar power paired with battery storage represents a breakthrough in Germany’s energy sector, where the transition from traditional fossil fuels to cleaner alternatives has been a central focus. Historically,…

READ MORE
gov lamont

CT leads New England charge to overhaul electricity market structure

READ MORE

Electric vehicles are a hot topic in southern Alberta

READ MORE

electric car

Gas-electric hybrid vehicles get a boost in the US from Ford, others

READ MORE

fuel-cell-electric-buses-coming-to-mississauga

Fuel Cell Electric Buses Coming to Mississauga

READ MORE