Utility companies around the world will spend $21 billion by 2015 to improve cybersecurity for the world's electrical smart grid, according to a report released Thursday by Pike Research.
As the industry has increasingly built up smart grids to better control and regulate electrical power, the threat of cyberattacks has become a greater concern. Dangers ranging from terrorist attacks to hackers to accidents to natural disasters could cause substantial damage.
To better safeguard the grid, utilities will spend a total of $21 billion over the next five years. The business segment that services this market will likely see revenue … Read more