Berg Insight says 274 million smart meters in Europe must be made secure by design

According to a new report from the IoT analyst firm Berg Insight, the installed base of smart electricity and gas meters in Europe will grow by 22 percent in 2018 to reach 151.9 million. Until 2023, the installed base is forecasted to increase by 80 percent to reach 273.7 million. Growth will be driven by nationwide rollouts of smart electricity and gas meters in France, Italy, the UK and several other countries. As a result, energy networks are quietly becoming massive IoT networks made up of connected smart meters and other smart grid devices. Like any data network, the smart grid is vulnerable for attacks. Berg Insight recognises a growing awareness among industry players and governments that smart grid security should be considered a top national interest.