Greentech Lead America: Cyber attacks are one of the toughest challenges facing the smart grid communications networks, says a new study available in Research and Markets.
According to the report, the smart grid communications network market is expected to grow at a CAGR of 17.66 percent over the period 2012-2016.
Key vendors dominating this market space are Silver Spring Networks, Itron, Sensus USA, Landis+Gyr, and Elster Group.
One of the key factors contributing to this market growth is the increasing construction of large smart grids.
The Smart Grid Communications Network market has also been witnessing the increasing communication network services leasing. Â Several power utilities have entered into contracts for leasing the smart grid communications network services to various telecom companies, or to other service providers.
The trend of network services leasing is gaining popularity in the U.S., with approximately 20 percent of the power utilities leasing smart grid communications networks to third parties.
One of the main growth drivers is the increasing construction of large smart grids. The major difference between smart grids and traditional power grids is the ability of the smart grid to facilitate two-way communications, which are performed through the smart grid communication networks.