The cloud security market in manufacturing is expected to register a CAGR of 19.08% over the forecast period. As manufacturing businesses evolve, manufacturers are demanding a more agile approach to system innovation and process support. The factors which are causing the industry to adopt cloud security solutions are visibility and flexibility.
– Growing threats of cyber attacks are augmenting market growth. Manufacturing is one of the most highly targeted industries for cyber attacks. According to EEF, 48% of manufacturers have at some point been subjected to a cybersecurity incident, and half of those organisations suffered financial loss or a disruption to their business. This is causing a major portion of a company’s budget to spend on security solutions.
– Migration of production processes from on-premise to cloud is a challenge since most of the production processes are supported by on-premise solutions. manufacturers should focus on new events that could be transferred to the cloud. For the old events, a more intelligent ERP system could be developed which enables the manufacturing functions to scale as needed.
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Scope of the Report
Manufacturers deal with sensitive data like quality data, warranty information, device history records, and the engineering specifications for a product that are highly confidential. Although they are stored in public/private/hybrid cloud, but security concerns still remain. Hence cloud security is necessary for data loss prevention, endpoint security and identity and access management.
Key Market Trends
Intrusion Detection and Prevention is the Fastest Growing Segment
– An Intrusion Detection and Prevention Software (IDPS) monitors network traffic for signs of a possible attack. When it detects potentially dangerous activity, it takes action to stop the attack. Often this takes the form of dropping malicious packets, blocking network traffic or resetting connections. The IDPS also usually sends an alert to security administrators about the potential malicious activity.
– The two main contributors to the successful deployment and operation of an IDS or IPS are the deployed signatures and the network traffic that flows through it.
– According to Insider Threat 2018 report, most insider exploits are detected through IDPS. This indicates the popularity of IDPS and why majority of the vendors are offering this service.
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