Cyberattacks in manufacturing: What’s driving the trend?

Manufacturers are increasingly vulnerable to attacks amid a lack of specialized employee training and poor infrastructure, experts say.

The manufacturing industry is taking a beating when it comes to cyberattacks.

The industry has been the biggest target for cyberattacks three years in a row, accounting for more than 25% of incidents, according to IBM’s 2024 X-Force Threat Intelligence Report.

Manufacturers were targeted in 70% of ransomware attacks in 2023, leading to millions of dollars in losses. Moreover, the costs of these attacks are have risen by an average of 125% per year and are projected to reach a global impact of $10 trillion by 2025, according to the World Economic Forum.

Why are manufacturers coming under such cyber fire?

Because of high-value payoffs, said Shankar Somasundaram, founder and CEO of Asimily, a connected device security firm.

“Manufacturers are sitting on valuable intellectual property, proprietary designs and critical operational data,” Somasundaram said. “Their role in supply chains and the broader economy means operational disruptions can create widespread impacts — giving attackers significant leverage in ransomware scenarios.”

For instance, in September 2023, manufacturer Johnson Controls lost over $27 million through a ransomware attack when a hacker group stole highly sensitive information.

To read the full article, please visit Cyberattacks in manufacturing: What’s driving the trend? | Manufacturing Dive. Published on January 2 2025.