EFY Times  
Monday, August 31, 2015

 
GO
 
 
Cyber-attacks Against Oil & Gas Infrastructure To Drive $1.87 Billion In Cybersecurity Spending By 2018
 
Home >> Electronics >> Trends                                                                                PRESS RELEASE
 
Cyber-attacks Against Oil & Gas Infrastructure To Drive $1.87 Billion In Cybersecurity Spending By 2018  
 
   
Rate this news:  (0 Votes)
Wednesday, January 30, 2013 As a highly critical sector, the oil and gas infrastructure should be one of the most secure, both physically and digitally. This is not the case. A multi-billion dollar industry, trading one of the most valuable commodities on the market, is connecting its industrial control systems full of unpatched vulnerabilities to the Internet, where cybercriminals roam in all impunity. These systems are poorly protected against cyber threats – at best, they are secured with IT solutions which are ill-adapted to legacy control systems such as SCADA.






“The lack of appropriate security has already allowed a number of destructive cyber-attacks to lay waste to some of the most high-profile companies in the industry,” says senior cybersecurity analyst Michela Menting. “From Night Dragon to Shamoon, oil and gas companies have been the victims of sophisticated cyber threats since 2009. Many of these attacks have caused significant financial damages – and yet the industry is painstakingly slow in deploying proper cybersecurity measures adapted to the infrastructure.” This lax approach is not only careless, it can be dangerous. Illegal interception and modification of commands to pipelines could cause massive environmental disasters or even life-threatening situations. The terrorist threat is just as real online as it is in the physical world.

Inevitably, as the number of cyber-attacks increase in the coming year, realization of the financial implications of persistent cyber threats will boost cybersecurity spending in this field during the forecasted period. Spending is set to pick up considerably from 2014 onwards. ABI Research calculates that cybersecurity spending on the oil & gas critical infrastructure will reach $1.87 billion by 2018. This includes spending on IT networks, industrial control systems and data security; counter measures; and policies and procedures.

These findings are part of ABI Research’s Cyber Security and Smart Grids Research Services which include Market Data, Research Reports, Insights, and Surveys.



Print Email Post Comment 
(Total Views: 742)
 
Share

 
 
Electronics News
   
Seagate Seven Honored With Gold By The Industrial Design Society Of Americas 2015 International Design Excellence Award
SanDisk Introduces New All-Flash Reference Architectures And Enhanced Portfolio Of Certified Flash Products For VMWare Virtual SAN 6
Panasonic Announces Pricing/Availability For AG-DVX200PJ 4K Handheld Camcorder
USGS Evaluates Sigma Spaces Single Photon LiDAR As A Key Technology For Its 3D Digital Elevation Program
Lithium Boost Technologies Announces New Release Of Its Smart Lithium-Ion Battery Chargers For Low Speed Electric Vehicles (LSEV)
 
 
 
     
     
     
     
     
     
Most popular
 

Daily

M2 Marketing And Management Announces Partnership With Gibson Innovations To Promote Integrated Fitness Headphones
Larson Electronics Releases Explosion Proof LED Light With 250 Cord And Explosion Proof Plug
Nextiva Receives 2015 Communications Solutions Product Of The Year Award Nextiva Office Recognized For Exceptional Innovation In The Cloud Communicat
nQueue Simplifies Scanning With iA Scan Desktop
Lithium Boost Technologies Announces New Release Of Its Smart Lithium-Ion Battery Chargers For Low Speed Electric Vehicles (LSEV)
SanDisk Introduces New All-Flash Reference Architectures And Enhanced Portfolio Of Certified Flash Products For VMWare Virtual SAN 6
USGS Evaluates Sigma Spaces Single Photon LiDAR As A Key Technology For Its 3D Digital Elevation Program
Panasonic Announces Pricing/Availability For AG-DVX200PJ 4K Handheld Camcorder
Seagate Seven Honored With Gold By The Industrial Design Society Of Americas 2015 International Design Excellence Award
 
   

Weekly

Overall

Features
Top Four Markup Languages
Formatting and publishing documentation is a crucial part of programmer's life. Markup languages simplify this task....
Top Five File Managers For Linux
File management programs streamline and simplify the process on your computer....
Now Water Your Lawn Using Raspberry Pi
An open source enthusiast, Robert Booth has developed a prototype of lawn watering system....
Download Mozilla's Open Source Furniture To Furnish Your Office At Low Cost
Mozilla and Nosigner are enabling inexpensive office furniture with open source schematic....
Top 5 Free Ebooks, Movies And Audio Books For Your iPad And Kindle!
Here is a list of best free books, movies and audio books from OpenCulture!...
Chinese Hackers To Attack India
A sophisticated cyber espionage group from China is working day and night to steal sensitive diplomatic information....
Speech System Used By Stephen Hawking Is Now Open To All
Intel has released the open source code of the speech system it developed for Stephen Hawking....
Top 4 Command Line Based Email Clients
Once you master one of these clients, you may not want to go back to GUI based clients....
Five Big Data Projects To Watch Out For!
Here are five important Open Source Big Data projects that you may not know about....
Top Five Community Tools
Top-notch tools can help in growth and maintenance of communities that make real difference....
Top Five Open Source E-Commerce Platforms
Establishing online presence of your business is very simple with these platforms....
Five Things You Need To Know About BLE
Bluetooth Low Energy (BLE) Technology is set to improve the lifestyle of consumers....
LibreOffice 5.0 Brings Major Performance Changes
LibreOffice 5.0 proves to be the best free alternative to Microsoft Office. ...
Five Must-Have Apps For Chromebook
You can also install and use these apps on Chrome browser on any OS....
Top Five Linux Based Mobile Operating Systems
Open source operating systems are ruling the computing world. ...
 
  View All
Dialogue
 
Meet Pranjal Saxena, India's 21 Year Old Electronics Wizard
Milan Ondhia of EFYTimes was in a forthright conversation with the 21 year old Pranjal Saxena from New Delhi; an aspirant at the WorldSkills meet, in ...
We Offer Managed Document Solutions To CIO And IT Decision Makers: Canon
Manufacturing within the country will surely reduce the cost of our devices, but manufacturing can begin only if there is the desired eco-system and w...
One Day The End User Can Open Up A Used Battery, And Use Whats Inside As Barbecue Sauce
Of course that is not something currently possible, but what B&B Batteries does have are some secret recipes for their very specialised battery design...
We Wish To Procure All The LED Components Within India: Avni Energy
G. Gururaja, director, Avni Energy Solutions Pvt Ltd, shares his views about the expanding LED industry in the Indian market and the company's plans i...
We Have Registered 50 Per Cent Growth In The Last Two Years: Arihant Lighting
Apart from LEDs, Arihant is associated with the promotion of renewable energy in India and therefore, manufactures various energy saving products....
   
  View All
Videos
 
First Look: LG Optimus G
The phone sports a high-end display and comes powered by a powerful processor. ...
Create QR-Codes For Free
TEC-IT releases the freeware QR-Code Studio to provide a quick and convenient way of QR code creation for every application scenario....
DoT Secretary Shares Plans For Growth Of Telecom Sector
M.F. Farooqui has recently taken charge as secretary, Department of Telecom....
Hands-On: Sony Xperia Z
Xperia Z is Sony's first entrant model in the big-screen smartphone category. ...
Hands On: Videocon A30 Smartphone
Videocon, the consumer electronics company which is known for its refrigerators, washing machine and air-conditioner has unveiled its Android-based sm...
   
View All
   
 
IFA 2014
 
IFA 2014: LG Launches 34-Inches Curved Monitor
The company is yet to confirm price and availability of the device....
IFA 2014: Intel Launches First Core M Range Of Processors
This range of processors is tailor-made for 2-in-1 devices which include a tablet and a laptop....
MWC 2014: Tablet Lets People Feel Textures On Its Screen
Now feel what you see on your tablet, by way of ultrasonic waves....
MWC 2014: 4K Android Tablet Games To Kill Consoles, iPad
Tablet makers like Samsung want to beat the iPad by making 4K tabs. ...
MWC 2014: This Vodafone Backpack Helps Get Network In Disaster Situations
Two engineers of Vodafone New Zealand displayed the "mini" mobile network by Vodafone substructure in a backpack. ...
MWC 2014: Wilocity Chipset To Bring 'Lightening' Speed To Mobile Phones
Wilocity has developed a WiGig chipset for mobile phones that will bring lightning-fast wireless capability ...
MWC 2014: Samsung Introduces Octacore, Hexacore Chipsets
The Korean giant, Samsung unveiled two new octacore and hexacore chipsets at MWC 2014, in Barcelona. The company previously used Exynos 5 Octa 5410 ch...
   
View All
   
 
Events
 
19th Consumer Electronic Imaging Fair To Be Held On ...

View All
   
   
 
 

home archives contact us advertise with us
           
Magazines Portals Directories Events News Verticals Educational Institute  
Electronics for You
Open Source for You
Electronics Bazaar
electronicsforu.com
efytimes.com
opensourceforu.com
electronicsb2b.com
Electronics Annual Guide
EFY EXPO INDIA
EFY EXPO WEST
ELECTRONICS ROCKS
EFY Awards
OSIDAYS Expo
Electronics
Infotech
Linux & Open Source
Consumer Electronics
Science & Technology
BPO
EFY Techcenter

Educational Kits
Kitsnspares.com  
 
 
© Copyright 2015 EFY Enterprises Pvt. Ltd.
All rights reserved. Reproduction in whole or in part in any form or medium without written permission is prohibited.
Usage of the content from the web site is subject to Terms and Conditions