Navigant Research Shows Smart Grid Industrial Control Systems Continue to Face Funding Challenges [Professional Services Close - Up]
(Professional Services Close - Up Via Acquire Media NewsEdge) 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.
According to a release, 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.
"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 devices' 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.
Navigant Research, a part of Navigant Consulting, Inc. (Navigant), provides in-depth analysis of global clean technology markets.
Navigant is a services firm dedicated to assisting clients in creating and protecting value in the face of critical business risks and opportunities.
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