CARLSBAD, Calif., July 18, 2023 - Viasat, a global communications company, today releases the results of a global survey of senior electrical utilities industry professionals, revealing an alarming number of emerging threats to national grid stability over the next five years.
However, the majority 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.
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 important threats identified by utilities sector leaders include:
- Managing the adverse effects of climate change or natural disasters (62%) emerged as the highest risk, deemed even more important 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 the third most important 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.
- Aging infrastructure (42%) at a time when surging consumer demand is putting power grids under increased pressure was also seen as important.
Satellite-enabled IoT key to navigating power grid risks
Despite these concerns, three quarters (76%) of those surveyed were optimistic about the ability of satcom to play a crucial role in improving infrastructure reliability, while 75% think satellite Internet of Things (IoT) technology is already helping to mitigate some of the biggest risks facing the industry.
Nearly three quarters of respondents (70%) 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, said: “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 has never been so complex. The good news is that satellite-enabled Internet of Things technologies offer a proven, reliable way to tackle these risks head-on, and the industry is becoming increasingly open to leveraging them to protect and maintain their networks going forward.
“Over the next five years, we expect such 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.”
About the research
This report is based on independent research conducted 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 £100m-£500m, £500m-£999m, £1bn-£1.99bn, £2-4.99bn and £5bn or over in turnover.
Respondents spanned across all major continents including Europe, North America, South America, Africa and Asia, and work under many different national and regional regulatory frameworks. As such, the results are representative of a broad range of businesses at various stages of their industrial IoT and satellite IoT adoption journeys. Data collection took place between March and April 2023.
About Viasat
Viasat is a global communications company that believes everyone and everything in the world can be connected. With offices in 24 countries around the world, our mission shapes how consumers, businesses, governments and militaries around the world communicate and connect. Viasat is developing the ultimate global communications network to power high-quality, reliable, secure, affordable, fast connections to positively impact people’s lives anywhere they are—on the ground, in the air or at sea, while building a sustainable future in space. On May 30, 2023, Viasat completed its acquisition of Inmarsat, combining the teams, technologies and resources of the two companies to create a new global communications partner. Learn more at www.viasat.com, the Viasat News Room or follow us on Facebook, Instagram, LinkedIn, Twitter or YouTube.
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