Smartgrid cyber spending to hit $21 billion by 2015

Cybersecurity Update – Tune in weekdays at 30 minutes past the hour for the latest cybersecurity news on The Federal Drive with Tom Temin and Amy Morris (6-10 a.m.) and The DorobekInsider with Chris Dorobek (3-7 p.m.). Listen live at or on the radio at 1500 and 820 AM in the Washington, D.C. metro area.

  • New research estimates that cybersecurity spending in the energy sector could reach $21 billion dollars between now and 2015. The study from Pike Research estimates that most of that figure will come from efforts to secure the smart-grid. Investments to protect the grid could generate $3.7 billion dollars in revenue each year by 2015. The largest chunk of that revenue is expected in North America.
  • Coming Friday from the White House: A new plan for managing identities in cyber space. The draft plan will build on existing strategies to ensure that individuals or organizations on the Internet are who they say they are, especially in transaction situations. The latest version of the National Strategy for Trusted Identities was announced yesterday by Cyber Security Coordinator Howard Schmidt, at a security conference hosted by Symantec. The new version will include further development of HSPD-12 cards, an initiative from the Bush administration.

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