The ABI Research survey Industrial and Manufacturing Survey 1H 2024: Cybersecurity Impacts and Investments reveals that 20% of industrial manufacturers are prioritising network security as their primary defence against cyberattacks. With the increasing digitisation of industrial assets, manufacturers face heightened risks from cybercriminals targeting valuable data and processes.
The State of Technology in Manufacturing survey highlights that network security is now the top investment area for manufacturers aiming to protect against adverse cyber events. As industrial operations become more interconnected, the need for robust security measures, including authentication and access control, has intensified. This shift is further accelerated by the growing regulatory landscape, particularly in Europe, where compliance with frameworks like the General Data Protection Regulation (GDPR) and the Cyber Resilience Act can result in significant financial penalties for non-compliance.
Michela Menting, senior research director at ABI Research, emphasizes the urgency of the situation, noting that industrial manufacturers are prime targets for cybercriminals. The threats they face range from ransomware attacks to vulnerabilities within their supply chains, which are increasingly exploited through social engineering tactics. As manufacturers connect more of their assets to operational networks, their security concerns have understandably risen.
This demand for enhanced cybersecurity solutions for operational technologies is projected to create a US$2 billion market globally in 2024. Manufacturers are focusing on network security solutions that include access control, authentication, and threat detection, mirroring the survey findings that highlight these technologies as top priorities for investment.
