China's concerns over the safety of its power infrastructure will result in astronomical security spending over the next decade. This new report "Cyber Security in Smart Grid – Market Size, Key Issues, Regulations and Outlook to 2020" 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 are 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 infrastructure.
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 research report presents an in-depth analysis of the development, applications, products, manufacturers, and trends in the worldwide development of the Smart Grid. After over one hundred years of electric power, it has become apparent that a new type of power grid is needed to serve societal needs in the 21st Century. Over time, a relatively primitive but reliable power grid has morphed into an exceedingly complex machine that can no longer be controlled through human actions alone and one which has become brittle and subject to catastrophic failure – such as the blackout in the northeastern United States and Canada in 2003. Simply put, today’s power grid is having difficulty meeting the high quality, stable, and reliable power requirements of an increasingly sophisticated, technology-oriented world. The power grid is also in need of significant maintenance and repair, with estimates ranging as high as $1 trillion over the next 20 years for the United States alone. However, “smart/intelligent” technologies now exist that can significantly improve grid performance. With these technologies a “smarter” grid will be able provide improved service reliability and more stable electric rates at a lower cost than simply building more infrastructure to meet increased demand.
The report provides a comprehensive analysis of the current market for smart grid enabling technologies and projects future market size through 2031. Marketing concerns including energy demand, environmental impacts, economic conditions, consumer acceptance, stakeholder concerns, and government activities are discussed in terms of their impact on market growth for the Smart Grid and its enabling technologies. The report also profiles selected companies that manufacture and market technologies that enable the Smart Grid and the strategies they have adopted to maximize growth and profitability.
Published: April 2012
No. of Pages: 206
Price: Single User License: US$ 4950 Corporate User License: US$7500
Smart Grid development is moving into a “normal” period of growth following substantial activity as the results of government stimulus funding. As this funding runs its course, utilities and other stakeholders are having a harder time will new development efforts as a result of economic conditions, regulatory uncertainty, consumer acceptance, and other factors that constrain their ability to fund many Smart Grid projects. These and other considerations are addressed in the report as they pertain to inhibiting or advancing development of the Smart Grid.
How You Will Benefit from this Report
If your company is involved with electric service, energy efficiency, two-way communications, information technology, home automation, or smart appliances – or if you are starting “green” energy initiatives, constructing “green” buildings, enhancing building efficiency, or simply want to determine the many opportunities that exist with development of the Smart Grid – you will find this report invaluable, as it provides a comprehensive package of information and insight about smart grid enabling technologies that are not offered in any other single source. You will gain a thorough understanding of the current Smart Grid applications, markets, and trends as well as projected market size through 2031.
This report will help:
Marketing Managers identify market opportunities and develop targeted promotion plans for smart grid products and services.
Research and Development Professionals stay on top of competitor initiatives, product applications, and demand for smart grid enabling technologies.
Advertising Agencies working with clients in the energy efficiency, energy service, information technology, communications, and consumer appliance and electronics markets develop compelling messages and images to promote sales of smart grid products and services.
Business Development Executives understand the dynamics of deployment of the Smart Grid, identify potential partnerships, and detect new product applications.
Information and Research Center Librarians provide market researchers, brand and product managers, and other colleagues with the vital information they need to do their jobs more effectively.
The global smart grid
market is expected to reach $80.6 billion in 2016 from $22.8 billion in
2011 at a CAGR of 28.7% from 2011 to 2016. Some of the players in the
smart grid market include Landys+Gyr (U.S.), Itron (U.S.), Cisco (U.S.),
eMeter (U.S.), and Telvent (U.S.).
Smart grid intends to modernize the power grid by using the latest
technology that supports the utility to reduce the transmission and
distribution loss. This can be achieved with the help of advanced
metering infrastructure, software’s such as SCADA, DRM, DMS, MDMS, etc.,
and communication networks such as Wi-Fi, ZigBee, Z-Wave, etc.
Smart
grid will balance the electricity supply and demand. It will improve
the grid reliability by monitoring the frequency and duration of power
outages and the number of disturbances, including reduction of the
possibility of regional blackouts. Smart grid will improve the
efficiency and dependability in energy distribution and assist in
optimizing utilization of resources.
Published:
February 2012
No. of Pages:
304
: Single User License - US$4650 Corporate User License - US$7150
Reduction in transmission and
distribution loss, coupled with an increase in energy efficiency, is
one of the major drivers of the smart grid market. The governments of
various countries are playing important roles in the commercialization
of the smart grid market and passing on mandates and regulations for the
same. The high cost of installation of the entire smart grid network is
one of the restraints of the smart grid market. Another major restraint
is the lack of interoperability of standards. There are huge amounts of
investments happening in the smart grid market, which are an
opportunity for the growth of the market. Prepaid electricity is also
en-route, wherein the users will prepay for the electricity that will be
consumed by them.
Lack of interoperability standards exists at
all the levels in a system. There are numerous service providers across
the globe with different standards of operating and meeting a common
consensus is very important for the growth of any industry. This is
lacking in the smart grid market as every country has its own rules and
mandates. This leads to a slower adoption of technology and increases
risks for the industry as a whole.
The current trend prevailing in
the smart grid technology market is the upgradation of old technology
as well as adopting a new technology, which will lead to a more
efficient usage of electricity. The increase in investment from the
governments as well as the utilities’ point of view is expected to reach
a billion mark in the next five years.
Scope of the report
This
research report categorizes the global smart grid technology market and
its related applications market on the basis of different kinds of
software’s that are being used for the smart grid network, smart meter,
various smart sensor, communication network and geographical analysis;
forecasting revenue, and analyzing trends in the market.
On the basis of software and hardware
The
software and the hardware market are broadly segmented into
Distribution Management Systems (DMS), Demand Response Management
Systems (DRM), Meter Data Management Systems (MDMS), Supervisory Control
and Data Acquisition (SCADA), Outage Management Systems (OMS) and Smart
Meters.
On the basis of smart sensors
The
Smart sensors segment consists of voltage sensors, transformer
monitoring sensors, dynamic line rating sensors and HAN sensors
On the basis of communication network
The
communication Network is segmented on the basis of Wide Area Network
(WAN) and Home Area Network (HAN). The different networks in the WAN and
the HAN network are analysed.
On the basis of geography
North America
U.S.
Canada
Mexico
Europe
Germany
UK
France
Spain
Italy
Others
Asia-Pacific
Australia
China
Japan
Korea
India
Others
ROW
Middle East
Africa
Others
Each
section will provide market data, market drivers, trends and
opportunities, key players, and competitive outlook. It will also
provide market tables for covering the sub-segments and micro-markets.
In addition, the report provides more than 20 company profiles covering
all the sub-segments.
Table Of Contents
1 INTRODUCTION 1.1KEY TAKE-AWAYS 1.2REPORT DESCRIPTION 1.3MARKETS COVERED 1.4STAKEHOLDERS 1.5RESEARCH METHODOLOGY 1.5.1MARKET SIZE 1.5.2KEY DATA POINTS FROM SECONDARY SOURCES 1.5.3KEY DATA POINTS TAKEN FROM PRIMARY SOURCES 1.5.4ASSUMPTIONS MADE 1.5.5LIST OF COMPANIES COVERED DURING THIS REPORT
2 EXECUTIVE SUMMARY
3 MARKET OVERVIEW 3.1INTRODUCTION 3.2WHAT IS A SMART GRID? 3.3TRADITIONAL GRID VERSUS SMART GRID 3.4MARKET DYNAMICS 3.4.1DRIVERS 3.4.1.1Increased government support 3.4.1.2Reduction in transmission and distribution losses 3.4.1.3Aging infrastructure 3.4.1.4Improved communication network 3.4.1.5Need for energy efficiency 3.4.2RESTRAINTS 3.4.2.1High cost of installation 3.4.2.2Privacy issues 3.4.2.3Lack of interoperability and common standards 3.4.3OPPORTUNITIES 3.4.3.1Increased investments 3.4.3.2Prepayment of electricity 3.5WINNING IMPERATIVES 3.5.1PARTNERSHIPS WITH MAJOR PLAYERS 3.6BURNING ISSUES 3.6.1CYBER SECURITY ISSUES 3.7MARKET SHARE ANALYSIS 3.8PORTER’S FIVE FORCES MODEL 3.8.1THREAT OF SUBSTITUTES 3.8.2THREAT OF NEW ENTRANTS 3.8.3BARGAINING POWER OF CUSTOMERS 3.8.4BARGAINING POWER OF SUPPLIERS 3.8.5INTENSITY OF RIVALRY 3.9SMART GRID TECHNOLOGY ANALYSIS - BY APPLICATIONS 3.10SMART GRID TECHNOLOGY ANALYSIS - BY COUNTRY
4 SOFTWARE AND HARDWARE MARKET 4.1OVERVIEW OF THE SOFTWARE AND THE HARDWARE MARKET 4.1.1DISTRIBUTION MANAGEMENT SYSTEM (DMS) 4.1.2DEMAND RESPONSE MANAGEMENT (DRM) 4.1.3METER DATA MANAGEMENT SYSTEM (MDMS) 4.1.4SUPERVISORY CONTROL AND DATA ACQUISITION (SCADA) 4.1.5SMART METER 4.1.5.1Cost analysis of smart electric meter installation 4.1.6OUTAGE MANAGEMENT SYSTEM (OMS)
5 SMART GRID SENSORS MARKET 5.1OVERVIEW OF SMART SENSORS 5.1.1VOLTAGE SENSORS 5.1.2TRANSFORMER MONITORING SENSORS 5.1.3DYNAMIC LINE RATING SENSORS 5.1.4HOME AREA NETWORK SENSORS
6 COMMUNICATIONS NETWORK 6.1OVERVIEW OF COMMUNICATIONS NETWORK 6.1.1WIDE AREA NETWORK 6.1.2HOME AREA NETWORK (HAN)
7 GEOGRAPHIC ANALYSIS 7.1OVERVIEW 7.1.1NORTH AMERICA 7.1.1.1U.S. 7.1.1.2Canada 7.1.1.3Mexico 7.1.2EUROPE 7.1.2.1Germany 7.1.2.2U.K. 7.1.2.3France 7.1.2.4Italy 7.1.2.5Others 7.1.3APAC 7.1.3.1Australia 7.1.3.2China 7.1.3.3Japan 7.1.3.4South Korea 7.1.3.5India 7.1.3.6Others 7.1.4ROW 7.1.4.1Middle East 7.1.4.2Africa 7.1.4.3Others
