Manufacturing industries have been one of the main targets
of cyber criminals. Sensitive data and classified files have
been at risk due to cyber espionage.
If banks were the main targets for the bandits in the Wild-Wild West, on the Wild-Wild Web, it is the Manufacturing Industries that are the biggest targets for today’s bandits, with cyber espionage being one of the principal cyber security threats. Of all the critical industries, Manufacturing spends the least on Information Security and has conceivably experienced the worst cyber intrusions in its lifetime; now considered to be one of the most regularly hacked industries. This disconnect between the high presence of threats and limited spending on cyber security, is only now starting to be seriously addressed, with Manufacturing Security Budgets estimated to grow by 77.3% according to Cyber Edge Group’s 2016 Cyber Threat Defence Report. This comes in light of findings that Europe spends the most on cyber security and consequently has the best cyber security globally. North America is now expected to significantly increase it’s IT budget and overtake Europe on their cyber security spending.