Smart Grid Cyber Security Market & Electrical Energy Storage Technology in the Intelligent Grid Analyzed in New Market Research Reports
DALLAS, September 17, 2012 /PRNewswire/ --
ReportsnReports.com adds "Cyber Security in Smart Grid - Market Size, Key Issues,
Regulations and Outlook to 2020" and "Electrical Energy Storage Technology and its Use
Within the Intelligent Grid" to its store.
A new research expects the smart grid cyber security market to exhibit huge growth
before the end of the decade, climbing from a global value of $7.8 billion in 2011 to $79
billion in 2020. By enabling more efficient transmission and distribution of electricity,
smart grids are rapidly gaining popularity around the world. However, concerns are growing
that the two-way flow of information the technology involves threatens privacy and could
potentially compromise personal data, says this new research report by energy industry
experts GlobalData.
Data collected through various smart grid technologies such as smart meters and smart
appliances helps utilities to understand their consumers' electricity consumption
patterns. Based on these patterns, companies can plan their generation, provide more
effective services, and also reduce peak-hour demand or load by forming suitable
demand-response programs.
Worries for data privacy arise when the data collected from smart grid technologies is
used to analyze the personal habits, lifestyle and behavior of consumers, beyond providing
them with efficient electricity services.
In the US, a lack of clarity about the ownership and responsibility over energy
consumption data has raised concerns among the population about data safety, whereas in
2009 large scale consumer group protests in the Netherlands forced the Dutch government to
back down from plans to enforce the mandatory installation of smart meters in all
households.
Canada is one of the few smart grid markets to recognize the significance of consumer
data privacy to its citizens, creating a set of guidelines in the 1990s known as Privacy
by Design in the 1990s. This has prompted major utilities in Canada to incorporate
security features into their smart grid systems.
Scope of the report "Cyber Security in Smart Grid - Market Size, Key Issues,
Regulations and Outlook to 2020" includes:
- Market size and forecasts of the global and key smart grid cyber security
markets
- Key geographies including the US, Canada, the UK, Germany, the Netherlands and
China
- Annualized market revenue data from 2011 to 2020.
- Key industry metrics such as growth drivers and restraints
- Competitive Scenario Analysis for players in the smart grid cyber security
industry with profiles of companies such as Cisco Systems, Inc., International
Business Machines Corporation, N-Dimension Solutions Inc., SAIC, Inc., Symantec
Corporation, NXP Semiconductors N.V., S&C Electric Company and Waterfall Security
Solutions Ltd.
- Regulatory framework - Policies and standards governing the market
The US Energy Information Administration (EIA) expects overall global energy
consumption to increase by 47% between 2010 and 2035, with China and India ttogether
accounting for half of the growth. This is increasingly presenting a major problem to
power suppliers around the world as electrical energy infrastructures in most countries
are antiquated, wasteful, and unable to cope with rising demand.
- The problem of the intermittent delivery patterns of green energy
technology can be solved by storing up power generated during off-peak periods for
dispersal at times of greater need. However, the best means of storing energy remains
a matter for debate with no definitive one-size-fits-all solution yet established as
an industry standard.
- The European utility-scale battery market was valued at $126.4m in terms of
revenue in 2010 and could be worth as much as $564.9m by 2015. With renewable energy
investment increasing rapidly, the demand for battery storage is expected to rise as
well.
- Along with compressed air energy storage, pumped storage offers the least
expensive form of energy storage, with a 1,000MW project costing about $1,500/KW to
$2,500/KW, according to the National Hydropower Association in Washington, DC.
Your key questions answered
- What are the major smart grid projects and what challenges have they
encountered?
- What are the different types of battery storage technology available and what
are their pros/cons?
- What innovations in battery technology still need to take place before they
can be used at utility-scale?
- To what extent is the renewable energy sector influencing change in electrical
energy distribution?
- What is the future outlook for smart grid uptake?
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