New research released by global communications company, Viasat, flags the concern of a high level of emerging threats to national electrical grid stability over the next five years. However, the results of the global survey of senior electrical utilities industry professionals, also show that three quarters of respondents (76%) are confident that satellite-enabled Internet of Things (IoT) solutions will play a key role in improving network reliability in the face of these risks.
Most industry leaders in electrical utilities globally believe satellite enabled IoT is helping to mitigate threats emerging in the sector.
The research – commissioned by Viasat and conducted by Censuswide – is part of Viasat’s Critical National Infrastructure Series – The crucial role of satellite connectivity in safeguarding national electrical utilities infrastructure.
Wide-ranging industry threats
The most significant threats identified by utilities sector leaders are outlined below.
- Managing the adverse effects of climate change or natural disasters (62%) emerged as the highest risk, deemed more important particularly by C-suite executives (66%).
- Potential financial risks from not meeting new environmental-focused regulations (58%) emerged as the second highest threat.
- Cybersecurity concerns were identified as the third most significant risk (53%), including state-sponsored attacks or cybercriminals seeking to exploit vulnerabilities.
- Managing fluctuating supply and demand patterns while transitioning to more renewable energy sources (43%) was considered a key risk.
- Ageing infrastructure (42%) at a time when surging consumer demand is putting power grids under increased pressure was also seen as important.
Navigating power grid risks with satellite enabled IoT
Despite these concerns, most of the respondents (76%) are optimistic about the ability of satcom to play a key role in improving infrastructure reliability, and 75% think satellite enabled Internet of Things (IoT) technology is already helping to mitigate some of the biggest risks facing the industry.
Overall, 70% of respondents feel satellite-enabled IoT is helping to mitigate climate change and natural disaster-related threats through sustainability-focused innovations, including environmental monitoring, early warning systems, and remote asset management in regions prone to climate-related risks.
Almost four in five (79%) also feel satcom is helping address risks associated with cyberthreats through advanced encryption and authentication mechanisms, and secure traffic routing systems.
Over half (57%) expect satellite IoT solutions to improve overall business performance through effective cost reduction and risk mitigation via remote monitoring and controlling of assets, highlighting the broader expected positive impact of such technologies over the years to come.
Jat Brainch, Chief Commercial and Digital Officer at Viasat, commented on the findings: “As modern consumers and businesses place unprecedented levels of demand on electrical power networks, their status as critical elements of national infrastructure is increasingly clear. However, with the rise of threats from climate change, bad actors and ageing infrastructure, managing the supply and distribution of electricity is becoming more complex. The good news is that satellite enabled IoT technologies offer a proven, reliable way to tackle these risks head-on, and the industry is becoming increasingly open to leveraging these technologies to protect and maintain their networks going forward.
“Over the next five years, we expect satellite enabled IoT technologies to become integral to the successful functioning of electrical grids, as well as playing a central role in the broader transition to renewable energy sources worldwide. Satellite IoT will also be key to driving operational efficiencies, improving profitability and strengthening sustainable outcomes for critical national infrastructure as a whole.”
The research was conducted independently by Censuswide on behalf of Viasat, surveying more than 125 business owners, C-suite executives and senior management professionals with decision making power working in the electrical utilities industry. They represent a range of business sizes, from £100 million up to £5 billion or more in turnover. Respondents spanned the major continents including Europe, North America, South America, Africa and Asia, and work under different national and regional regulatory frameworks. Hence, the results are representative of a broad range of businesses at various stages of their industrial IoT and satellite IoT adoption journeys. Data collection was done between March and April 2023.
For more information visit: www.viasat.com
