Utilities Must Prepare for Cyber Threat Increase
Digital OT makes an attractive target for a host of actors whose objectives range from financial gain to sheer disruption – and today, a cyber arms-race is the new normal for utilities and their suppliers. As digital technologies spread through and add value to energy infrastructure, attacks will continue to escalate in frequency and sophistication.
Smart Meters: Global Market Growth Outlook
The estimated installed base of smart meters (electricity, gas and water) is expected to surpass the 1 billion mark within the next 2 years. Just under 132 million smart meters were shipped worldwide in 2018. This number is expected to grow 7% per year to exceed 200 million by 2024.
via IoT Analytics
European Utilities Spending on Software to Reach $4.8 Billion
Total forecast IT spending by Western European utilities is expected to reach $18.4 billion by 2019, with an estimated 2014–2019 CAGR of 3.3%. Total current IT spending by Western European utilities is expected to be $16.3 billion in 2015, with electricity companies accounting for the largest share.
How 1.4 Billion Smart Meters will be Deployed Worldwide by 2018
IDATE forecasts that there will be a total of just under 1.4 billion smart meters (electricity, gas and water combined) deployed worldwide in 2018, that’s up from roughly 500 million in 2013 — a CAGR of 22.7%.
Many countries now have regulation in place which targets close to 100% replacement of ‘dumb’ meters by 2020.
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