Customer needs require scalable,
flexible cybersecurity solutions, finds Frost & Sullivan
Dubai, United Arab Emirates, -Thursday 6 December 2018 [ AETOS Wire ]
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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, cyber-attacks within
the energy and utilities industries alone cost an average of $13.2
million 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. 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 and OT 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.
“Many end users have labor-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.”
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 monetization strategies for those models.
For further information on this analysis, please click here.
Companies that are eager to grow within the industrial cybersecurity market can find opportunities through:
- Providing integrated platforms that can deploy a range of services to enhance the security posture of end users while incorporating the best security practices.
- Using automated management services and advanced analytics to develop a comprehensive service portfolio that can be adapted for all types of end users.
- Offering flexible pricing models, such as Cybersecurity-as-a-Service (CSaaS), and lifetime services to increase accessibility across industries at a lower cost.
"Despite
the growing frequency of cyber-attacks, industries still have very low
cyber resilience, struggling to ensure cybersecurity in the OT
environment," said 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 organizations identify a continuous flow of growth
opportunities to succeed in an unpredictable future.
About Frost & Sullivan
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over five decades, Frost & Sullivan has become world-renowned for
its role in helping investors, corporate leaders and governments
navigate economic changes and identify disruptive technologies, Mega
Trends, new business models and companies to action, resulting in a
continuous flow of growth opportunities to drive future success. Contact us: Start the discussion
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Global Industrial Cybersecurity Services Market, Forecast to 2022
[K2C6-10]Contacts
Anita Chandhoke
Corporate Communications - MEA
P: +91 80 67028020
E: achandhoke@frost.com
http://ww2.frost.com
