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Cyber-attacks on electronics industry facilities can shut down their production and operations by corrupting data, stealing intellectual property, disabling networks and destroying equipment. The causes and effects of each attack are different, but it costs companies and customers both time and money.
As production becomes more and more digitized and data-driven, manufacturers will find themselves at serious risk of cyberattacks.
The complexity of multi-organization dependencies and data management in modern supply chains means that vulnerabilities proliferate. Despite their serious impact, manufacturers around the world either do not take cyberattacks seriously or think they are not in the risk zone and can quickly emerge from an attack, experts feel.
Electronics companies must focus on the safety of components and industrial systems used in the production of increasingly high-tech products. The manufacture of ‘smart industrial stuff’ must also take into account effective cybersecurity, or it could put a company’s entire ecosystem at risk. IBM’s research found that more than 80 percent of electronics companies implement Industrial Internet of Things (IIoT) technologies in factories and assembly lines without fully assessing the risks or crafting effective responses. Electronics companies need contextual, cognitive and adaptive cybersecurity capabilities to continually identify, mitigate and prevent risk.
World-class cybersecurity is essential to the manufacturing supply chain as it is integrated, connected and at the same time interdependent. The security of the entire supply chain actually depends on the security at the factory level. The growth of smart factories, digital manufacturing and Industry 4.0 along with the IoT increases this commitment. The diversity of manufacturers, ranging from large sophisticated firms to MSMEs, increases the risk of vulnerabilities that can be better managed by private public partnerships. Cyber attacks have increased in various industries over the past few years.
Electronics manufacturers are increasingly threatened by cyberattacks. In today’s connected world, a successful attack from a cybercriminal can shut down a facility’s operations or start manufacturing equipment without the managers knowledge. Small and medium businesses do not have very established IT security practices to combat or deal with a cyber incident. This lack of preparedness not only makes it easier for cybercriminals to attack, but also increases the likelihood of affected companies to experience longer downtime as they strive to restore operations after a cybersecurity issue.
Electonic manufacturers have become more vulnerable to cyberattacks after migrating to cloud infrastructure and services. Based on emerging and perceived threats, companies began to invest in cyber insurance and set up a Security Operations Center to protect data and applications to instantly detect and defend against cyber attacks.
Cybersecurity protects electronic systems, mobile devices, computers, servers, networks and data from malicious attacks. If a company is attacked by a cybercrime and uses cybersecurity in a timely manner, the organization can minimize the overall impact. This impact can include economic loss, stolen intellectual property, damage to reputation, business disruption, etc.
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