According to a recent study by Omdia, 80 percent of manufacturing companies experienced a significant increase in security incidents last year. However, only 45 percent have taken adequate measures in terms of cybersecurity, while 13 percent are not prepared at all. The results are based on a global survey of over 500 executives responsible for IT or OT security.
The study findings reveal that most attacks initially target IT systems. 62 percent of respondents reported experiencing a failure or availability issue, typically resulting in damages ranging from $200,000 to $2 million. Additionally, 75 percent of the attacks originated in the IT domain rather than the OT environment.
The authors of the study emphasize the need for greater connectivity between IT and OT to leverage advanced technologies for innovation in manufacturing. However, they also highlight the increased risks of security breaches that come with this enhanced connectivity. It is clear from the study that only a few companies are adequately prepared to address and defend against cyber risks.
The lack of preparedness among manufacturing firms underscores the urgent need for enhanced cybersecurity measures to protect critical infrastructure and production processes. As digitization and automation continue to transform the industry, it is crucial for organizations to prioritize cybersecurity and invest in robust defense mechanisms.
In order to mitigate the growing threat of cyber attacks, companies must implement comprehensive security protocols, conduct regular risk assessments, and provide ongoing training for employees. Moreover, collaboration with cybersecurity experts and investing in cutting-edge technologies can help strengthen defenses and safeguard against potential breaches.
The study serves as a wakeup call for the manufacturing sector to prioritize cybersecurity and take proactive steps to enhance resilience against evolving threats. By adopting a proactive approach to cybersecurity and implementing effective risk management strategies, companies can better protect their operations and ensure business continuity in the face of cyber threats.
In conclusion, the findings of the Omdia study highlight the critical importance of cybersecurity in the manufacturing industry and the pressing need for organizations to bolster their defenses against cyber threats. With cyber attacks becoming more sophisticated and prevalent, it is essential for companies to stay vigilant, proactive, and well-prepared to safeguard their assets and operations from potential security breaches.