Utilities to spend nearly $3 billion on cyber security infrastructure, report finds
SUBNET Solutions Inc | Tuesday, May 28, 2013
As utilities continue to face the threat of serious cyber attacks, they are increasing their spending on the equipment necessary for keeping their operations safe. One new report from ABI Research has found that spending in 2013 alone could reach nearly $3 billion, Electric Light and Power reports.
According to the news source, the statistics show spending on cyber security solutions will hit $2.9 billion by the end of this year. The bulk of the spending will come as more utilities integrate their information technology systems with their operational technologies. Through the history of the electric grid, these two areas have operated independently.
However, new smart grid technologies are making it easier for these solutions to mesh together, which is creating new vulnerabilities as access points open.
"Operators need to view cyber security as a core, integrated requirement of their offering and not as a secondary add-on," said ABI Research cyber security senior analyst Michela Menting. "Efforts by governments and standardization bodies to tackle vulnerabilities within power control systems are raising the level of awareness."
Cyber security has become a major issue in recent years, with the Department of Homeland Security warning that the frequency of attacks has been rising at an alarming rate.
SUBNET helps utilities protect their systems by installing solutions that comply with strict NERC CIP standards.
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