Manufacturing Cybersecurity: Stats, Risks & DataGuard Solutions 2024

Key Statistics

• Rising Cybersecurity Incidents: Over 60% of manufacturing companies have experienced cyberattacks, reflecting an escalating risk environment.
• Financial Ramifications: The average cost of a cyber breach in this sector is around $1 million, signifying substantial financial risks.
• IoT Expansion and Risks: With IoT integration, security incidents have risen by 30%, exposing new vulnerabilities.
• Human Error: Internal vulnerabilities, primarily due to human error, account for 70% of breaches in manufacturing, underscoring the importance of comprehensive cybersecurity training.
• Compliance Gaps: Shockingly, only 50% of firms comply with standard cybersecurity protocols, indicating a significant gap in security implementation.

Notable Cyber Attacks

• The 2020 attack that occurred at Advantech, a large IoT manufacturer which was discovered when Advantech received a ransom request for 750 bitcoin (valued at $13.8 million at the time) for stolen data and encrypted some of their systems which affected their business operation.

• The cyberattack against Lacroix, which happened in May 2023, caused the company’s virtual infrastructure to be encrypted and forced them to close 3 out of 8 sites around the globe for a week.

Types of Attackers

• Nation-state actors seeking to disrupt critical infrastructure or steal intellectual property.
• Organized crime groups targeting manufacturers for financial gain through ransomware or data theft.
• Insider threats, including disgruntled employees or those inadvertently compromising security.

DataGuard’s Solutions

Amidst these challenges, DataGuard offers tailored solutions to fortify the manufacturing sector’s cybersecurity posture.

• DataGuard’s Advanced Security Solutions: Offering cutting-edge tools like Managed Detection and Response (MDR) and 24/7 Security Operations Center (SOC) monitoring, DataGuard ensures comprehensive protection against cyber threats.
• Employee Training Programs: Recognizing the role of human error in cybersecurity breaches, DataGuard offers extensive training programs to build a resilient “human firewall.”
• Compliance and Risk Management: With a deep understanding of industry standards, DataGuard assists manufacturing firms in achieving and maintaining compliance, thereby reducing risk exposure.

In summary, as the manufacturing sector navigates the complex landscape of cyber threats, partnering with cybersecurity experts like DataGuard is essential for robust digital defense and sustained business growth.