Cybersecurity Is A Main Challenge For The Electric-Vehicle Market

According to a new report from Pike Research, one of the major challenges that remains to be resolved in the electric-vehicle (EV) marketplace is implementing cybersecurity measures to ensure that EV charging transactions are safe and private.

‘The prevailing philosophy of the EV industry has been to 'build first, secure later,'’ says Bob Lockhart, a senior analyst with Pike Research. ‘This poses many risks for financial transactions, customer privacy, and the integrity and reliability of the grid infrastructure. Utilities and key vendors are just beginning to focus on addressing these issues, and the security solutions implemented will have a strong influence on the success and credibility of EVs as a replacement for internal combustion engine vehicles.’

Lockhart adds that several important areas for EV cybersecurity investment include securing financial transactions that are required for EV recharging, implementing secure and hardened IT environments on EV service equipment and distribution-grid hardware, and complying with applicable data-privacy laws and other regulations.

The report also states that investment in EV cybersecurity systems will total $432 million from 2011 to 2015. Pike Research notes that the largest segment for EV cybersecurity investment will be smart-charging management, which will garner $274 million in worldwide revenue between 2011 and 2015. Other key market segments will include data analytics and customer information management.

SOURCE: Pike Research

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