$US100 Billion Cybersecurity Spending for Critical Infrastructure by 2020
Cyber protection for critical infrastructure is becoming an acute prerogative for nation states as high profile attacks against sensitive sectors show no signs of abating. The financial, energy, and defense sectors remain the most targeted sectors by malicious threat actors. Substantial criminal means are being deployed to break payment and banking institution resistance, and considerable pressure is being levied by hostile political entities against the defense industry. Energy sector attacks are seeing a spectacular rise in illegitimate access and disruption through industrial control systems, forewarning serious precarity for the Internet of Things.
ABI Research calculates cybersecurity spending for critical infrastructure protection will reach $US109 billion globally by 2020. The majority of spending will focus on securing the financial sector and the ICT infrastructure, with the North American and European regions pumping the most into network, systems, and data security.
“Information technology (IT) spending will dominate cybersecurity investment for critical infrastructure protection to the detriment of securing operational technologies (OT) as found in industrial settings,” comments Michela Menting, ABI Research Cybersecurity Practice Director. This will benefit the healthcare and public security sectors, but unfortunately utilities companies will be the least well-served in terms of improving operational and industrial security.
This Market Data on Critical Infrastructure Security breaks down spending for eight verticals: Defense, Energy, Financial, Healthcare, ICT, Public Security, Transport, and Water and Waste Management. The data is split by region (North America, Europe, Asia-Pacific, Latin America, the Middle East & Africa), includingby sector (private/public) and by type (product/service).
These findings are part of ABI Research’s Cybersecurity Strategies for Critical Infrastructure Market Research.
ABI Research provides in-depth analysis and quantitative forecasting of trends in global connectivity and other emerging technologies. From offices in North America, Europe and Asia, ABI Research’s worldwide team of experts advises thousands of decision makers through 70+ research and advisory services. Est. 1990. For more information visit www.abiresearch.com, or call +1.516.624.2500.
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