Increasing Sophistication of Attacks and Evolving Threat Landscape Powering Global Industrial Cybersecurity, Outlook 2022

Increasing Sophistication of Attacks and Evolving Threat Landscape Powering Global Industrial Cybersecurity, Outlook 2022

Building Cyber Resilience, Strategic Partnerships, and Trust Ecosystem Create New Growth Opportunities

RELEASE DATE
18-Jan-2022
REGION
Global
Research Code: K615-01-00-00-00
SKU: IA01641-GL-MO_26183
$4,950.00
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SKU
IA01641-GL-MO_26183
$4,950.00
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Description

Cybersecurity attacks increased tremendously in 2020 and 2021, primarily in the frequency and sophistication of attacks. Apart from the growing concerns about signature-less ransomware and ransomware-as-a-service, attackers also use artificial intelligence and machine learning to scale up attacks. To this end, many governments acknowledge the serious threat of industrial cybersecurity attacks and propose effective defense policies. However, a shortage of OT security expertise remains a critical issue that needs to be addressed. From an industry standpoint, critical infrastructures are no longer the only targets. Apolitical and financially motivated attacks are now common across all industries, increasingly prompting industry participants to strengthen their awareness in building an effective OT security posture. In addition to critical infrastructures (e.g., power) and the oil and gas sector, industries such as manufacturing, transportation, and logistics also present growth opportunities. While the power sector is ahead in cybermaturity and typically has a higher budget, sectors such as water are challenged with lower budget and resource shortages. North America, Europe, and the Middle East are the key regions in the industrial cybersecurity market, whereas Asia-Pacific countries such as Australia and New Zealand are now investing in industrial cybersecurity and implementing new regulations. The industrial cybersecurity market is pivoting toward convergence and creating an ecosystem of trust. Partnerships among companies from different backgrounds are common and will continue to increase. Offering comprehensive IT-OT security capabilities is important. Therefore, niche OT cybersecurity firms and companies providing standalone, point solutions will become acquisition targets. Robust acquisition activity in the market is also expected to continue. OT security vendors will play a larger role in preparing industrial organizations to deal with never-before-seen attacks and attack vectors.

Author: Sankara Narayanan Venkataramani

Table of Contents

Global Industrial Cybersecurity Outlook Highlights

Impact of COVID-19 on the Global Industrial Cybersecurity Market

Global Industrial Cybersecurity Outlook

Top Predictions for 2022 and Beyond

High Priority Areas

Issues to Consider

Why is it Increasingly Difficult to Grow?

The Strategic Imperative 8™

The Impact of the Top 3 Strategic Imperatives on Industrial Cybersecurity

Growth Opportunities Fuel the Growth Pipeline Engine™

Research Scope

Market Segmentation

Revenue Forecast Trend

Revenue Trends Discussion

Top Predictions for 2022 and Beyond

Prediction 1: Industrial Cybersecurity will Emphasize Resiliency

Prediction 1: Industrial Cybersecurity will Emphasize Resiliency (continued)

Prediction 2: More Companies from Different Backgrounds will Form Strategic Partnerships to Deliver Fully Integrated and Joint Solutions

Prediction 2: More Companies from Different Backgrounds will Form Strategic Partnerships to Deliver Fully Integrated and Joint Solutions (continued)

Industrial Cybersecurity: Best Practice Versus Good Enough Solutions

Prediction 3: Niche OT Cybersecurity Firms and Companies Offering Point Solutions will be the Main Targets of Continued Merger and Acquisition Activity in Industrial Cybersecurity

Prediction 3: Niche OT Cybersecurity Firms and Companies Offering Point Solutions will be the Main Targets of Continued Merger and Acquisition Activity in Industrial Cybersecurity (continued)

Prediction 4: More Companies will Move Toward AI and ML as Key Differentiators in Detecting Advanced and Unknown Threats

Prediction 4: More Companies will Move Toward AI and ML as Key Differentiators in Detecting Advanced and Unknown Threats (continued)

Prediction 5: Successful OT Alert Management to Reduce the Risk of False Positives will be Critical Amid the Rising Threats and Vulnerabilities

Prediction 5: Successful OT Alert Management to Reduce the Risk of False Positives will be Critical Amid the Rising Threats and Vulnerabilities (continued)

Prediction 6: Managed Security Services will See Higher Growth than Professional Services, and MSSPs will Become Stronger and More Active

Prediction 6: Managed Security Services will See Higher Growth than Professional Services, and MSSPs will Become Stronger and More Active (continued)

Prediction 7: Continued Remote Access to OT will Increase the Responsibility of All Stakeholders to Advance their Cybermaturity

2020 Snapshot

Revenue Forecast by End-user Segment

Percent Revenue by Region

Segment Forecast Discussion

Segment Forecast Discussion (continued)

Segment Forecast Discussion (continued)

Companies to Watch

2022 Predictions: North America

2022 Predictions: Latin America

2022 Predictions: Europe

2022 Predictions: Middle East and Africa

2022 Predictions: Asia-Pacific

Growth Opportunity 1: Active Querying to Discover Dormant Devices and Achieve Complete Coverage of OT Environments will be Essential

Growth Opportunity 1: Active Querying to Discover Dormant Devices and Achieve Complete Coverage of OT Environments Will be Essential (continued)

Growth Opportunity 2: Inorganic Growth through Acquisitions is a Preferred Growth Strategy

Growth Opportunity 2: Inorganic Growth through Acquisitions is a Preferred Growth Strategy (continued)

Growth Opportunity 3: Using AI to Fill Gaps in OT Security and Add Value to Existing Security Solutions

Growth Opportunity 3: Using AI to Fill Gaps in OT Security and Add Value to Existing Security Solutions (continued)

Conclusion and Future Outlook

Abbreviations and Acronyms

List of Exhibits

Legal Disclaimer

Cybersecurity attacks increased tremendously in 2020 and 2021, primarily in the frequency and sophistication of attacks. Apart from the growing concerns about signature-less ransomware and ransomware-as-a-service, attackers also use artificial intelligence and machine learning to scale up attacks. To this end, many governments acknowledge the serious threat of industrial cybersecurity attacks and propose effective defense policies. However, a shortage of OT security expertise remains a critical issue that needs to be addressed. From an industry standpoint, critical infrastructures are no longer the only targets. Apolitical and financially motivated attacks are now common across all industries, increasingly prompting industry participants to strengthen their awareness in building an effective OT security posture. In addition to critical infrastructures (e.g., power) and the oil and gas sector, industries such as manufacturing, transportation, and logistics also present growth opportunities. While the power sector is ahead in cybermaturity and typically has a higher budget, sectors such as water are challenged with lower budget and resource shortages. North America, Europe, and the Middle East are the key regions in the industrial cybersecurity market, whereas Asia-Pacific countries such as Australia and New Zealand are now investing in industrial cybersecurity and implementing new regulations. The industrial cybersecurity market is pivoting toward convergence and creating an ecosystem of trust. Partnerships among companies from different backgrounds are common and will continue to increase. Offering comprehensive IT-OT security capabilities is important. Therefore, niche OT cybersecurity firms and companies providing standalone, point solutions will become acquisition targets. Robust acquisition activity in the market is also expected to continue. OT security vendors will play a larger role in preparing industrial organizations to deal with never-before-seen attacks and attack vectors. Author: Sankara Narayanan Venkataramani
More Information
No Index No
Podcast No
Author Sankara Narayanan Venkataramani
Industries Industrial Automation
WIP Number K615-01-00-00-00
Is Prebook No
GPS Codes 95,939,420