IIOT TECH­NOLO­GIES IN­TE­GRA­TION CRE­ATES GROWTH OP­POR­TU­NI­TIES IN THE IN­DUS­TRIAL CY­BER­SE­CU­RITY IN­DUS­TRY

Refining & Petrochemicals Middle East - - MARKET FOCUS -

High pen­e­tra­tion of In­dus­trial In­ter­net of Things (IIOT) tech­nol­ogy in crit­i­cal in­fra­struc­ture and the man­u­fac­tur­ing sec­tor has re­sulted in a grow­ing num­ber of po­ten­tial cy­ber-at­tack sur­faces

Ac­cord­ing to a re­cent anal­y­sis from Frost & Sul­li­van, cy­ber­at­tacks within the en­ergy and util­i­ties in­dus­tries alone cost an av­er­age of $13.2mn per year. These ris­ing in­ci­dences of cy­ber-at­tacks, cou­pled with evolv­ing com­pli­ance reg­u­la­tions by gov­ern­ments, and in­creased aware­ness among ma­ture and less ma­ture mar­kets have ac­cel­er­ated the adop­tion of cy­ber­se­cu­rity ap­proaches.

Con­sol­i­dated view of the IT and OT en­vi­ron­ment

How­ever, there is still a high level of am­bi­gu­ity in ad­dress­ing in­dus­trial cy­ber­se­cu­rity, with ex­ist­ing cy­ber­se­cu­rity ser­vices strug­gling to pro­vide com­pre­hen­sive vis­i­bil­ity across both IT (in­for­ma­tion tech­nol­ogy) and OT (op­er­a­tional tech­nol­ogy) net­works.

“The in­dus­trial cy­ber­se­cu­rity ser­vices mar­ket is at the high growth stage of its life­cy­cle, with ris­ing aware­ness among end-users, in­creased in­dus­trial con­trol sys­tems (ICS) based at­tacks, and the ris­ing need for cy­ber­se­cu­rity skills,” said Riti Newa, in­dus­tri­als re­search an­a­lyst, Frost & Sul­li­van. “Many end-users have labour-in­ten­sive se­cu­rity prac­tices and lack strong cy­ber­se­cu­rity poli­cies. Ser­vice providers can help au­to­mate cy­ber­se­cu­rity ser­vices and pro­vide a more holis­tic ap­proach by of­fer­ing joint so­lu­tions that pro­vide a con­sol­i­dated view of the IT and OT en­vi­ron­ment.”

In­dus­trial cy­ber­se­cu­rity mar­ket

Frost & Sul­li­van’s re­cent anal­y­sis, Global In­dus­trial Cy­ber­se­cu­rity Ser­vices Mar­ket, Fore­cast to 2022, ex­plores mar­ket adop­tion rates, re­quire­ments, and trends across the mar­ket. It also cov­ers emerg­ing ser­vice mod­els and their us­ages, as well as mon­eti­sa­tion strate­gies for those mod­els.

Com­pa­nies that are eager to grow within the in­dus­trial cy­ber­se­cu­rity mar­ket can find op­por­tu­ni­ties through: (i) pro­vid­ing in­te­grated plat­forms that can de­ploy a range of ser­vices to en­hance the se­cu­rity pos­ture of end-users, while in­cor­po­rat­ing the best se­cu­rity prac­tices; (ii) us­ing au­to­mated man­age­ment ser­vices and ad­vanced an­a­lyt­ics to de­velop a com­pre­hen­sive ser­vice port­fo­lio that can be adapted for all types of en­dusers; and (iii) of­fer­ing flex­i­ble pric­ing mod­els, such as Cy­ber­se­cu­rity-as-a-ser­vice (CSAAS), and life­time ser­vices to in­crease ac­ces­si­bil­ity across in­dus­tries at a lower cost.

The in­dus­trial cy­ber­se­cu­rity ser­vices mar­ket is at the high growth stage of its life­cy­cle, with ris­ing aware­ness among end-users, in­creased in­dus­trial con­trol sys­tems (ICS) based at­tacks, and the ris­ing need for cy­ber­se­cu­rity skills.

Au­tomat­ing cy­ber­se­cu­rity

“De­spite the grow­ing fre­quency of cy­ber-at­tacks, in­dus­tries still have very low cy­ber re­silience, strug­gling to en­sure cy­ber­se­cu­rity in the OT en­vi­ron­ment,” added Newa. “With com­plex­ity and so­phis­ti­ca­tion of the at­tacks, ser­vice providers will need to fo­cus on ad­vanced ser­vices that can ad­dress the threat land­scape and au­to­mate cy­ber­se­cu­rity.”

‘Global In­dus­trial Cy­ber­se­cu­rity Ser­vices Mar­ket, Fore­cast to 2022’ is the lat­est ad­di­tion to Frost & Sul­li­van’s in­dus­tri­als re­search and analy­ses avail­able through the Frost & Sul­li­van Lead­er­ship Coun­cil, which helps or­gan­i­sa­tions iden­tify a con­tin­u­ous flow of growth op­por­tu­ni­ties to suc­ceed in an un­pre­dictable fu­ture.

With com­plex­ity and so­phis­ti­ca­tion of the cy­ber-at­tacks, ser­vice providers will need to fo­cus on ad­vanced ser­vices that can ad­dress the threat land­scape and au­to­mate cy­ber­se­cu­rity.

Cus­tomer needs re­quire scal­able, flex­i­ble cy­ber­se­cu­rity so­lu­tions, finds Frost & Sul­li­van.

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