Cyber security emerging as intrinsic element of Industry 4.0
In the coming two to three years, cyber security spending in the manufacturing industry is expected to increase by a minimum of 10%. A well-formulated security framework will become a norm for companies interested in adopting Industry 4.0 or any advanced manufacturing approach.
Factories of the future are poised to have a link established with the outside world and the security in such a scenario will become an inevitable necessity for end-users across industries. Cyber security damages on industries globally are estimated at €40 to €50 billion per year.
The impact of cybersecurity was outlined by Frost & Sullivan global president and managing partner, Aroop Zutshi, during his presentation at the recent SPS IPC Drives exhibition in Germany.
For complimentary access to more information on the Frost & Sullivan Industrial Automation and Process Control practice, please visit: http://frost.ly/11x.
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