Utility companies around the world will spend US$21 billion by 2015 to improve cyber-security for the world's electrical smart grids, according to Pike Research.

The industry has built up smart grids in a bid to better control and regulate electrical power, but the threat of cyber-attacks has become greater. Dangers include terrorist attacks, hackers, accidents and natural disasters.

As utilities face expenditure of $21 billion over the next five years, the security segment should see revenue grow to $3.7 billion annually by 2015, compared with $1.2 billion last year.

Source: Computer Daily News