Dive Summary:

• By 2020, U.S. utilities will spend $7.25 billion on cybersecurity technology to protect the smart grid, Zpryme reported.
• That’s half of the $14 billion Pike Research predicted global utilities will spend on cyber security by 2018.
• The majority of funds will support industrial control systems and SCADA networks that control grid assets.

From the article:
“Zpryme’s report finds that North America accounted for 42 percent of the global market in 2012, with Europe at 30 percent and Asia-Pacific at 17 percent, but the report also finds that China will overtake the U.S. as the largest market by 2017, leaving the Asia-Pacific region with 35 percent of the market by 2020. Over the same time span, China, Japan, South Korea, and Russia will see growth rates of 40 percent and up, the report predicted.”