Digitalisation has been a theme that has been heavily adopted in the energy sector in recent years. Consequently, the importance of cybersecurity across the power and utilities industry has commensurately increased with the adoption of more and more digital devices. This trend is set to continue in the future as technologies such as augmented reality (AR), artificial intelligence (AI), drones, and others increase in their utility through technological advances—their adoption will increase, and cyber-attacks will rise in threat.
The benefits of digitalisation are wide-ranging, but cybersecurity is the Achilles heel of digitalisation. Given the destructive nature of a cyber-attack on a power company, ensuring resolute cybersecurity is just as important as any attempts to digitalise assets and processes.
Leading cybersecurity companies in the energy sector
Leading vendors have developed cutting-edge technologies focused on the internet of things (IoT), the industrial IoT (IIoT), and operational technology (OT) defence. Leading adopters have either invested in products or services or developed them in-house.
Leading adopters of cybersecurity in the energy sector include Duke Energy, Engie, E.ON, Electricite de France, Iberdrola, Duke Energy, General Electric, and Siemens.
Discover the leading cybersecurity companies in the energy sector
Using its experience in the sector, Energy Monitor has listed some of the leading companies providing products and services related to cybersecurity in the power sector.
The information provided in the download document is drafted for cybersecurity executives and technology leaders involved in cybersecurity solutions.
The download contains detailed information on suppliers and their product offerings, alongside contact details to aid purchasing or hiring decisions.
Amongst the leading cybersecurity suppliers are Bitdefender, Claroty, Nozomi Networks, Rhebo, Siemens (Eos.ii), Kognitiv Spark, and Mission Secure.
Future of cybersecurity in the power sector
As we move toward an increasingly online world, the importance of cybersecurity for energy and utilities will only increase. According to GlobalData forecasts, spending on cybersecurity in the energy sector is headed for strong growth in the first half of the 2020s and is forecast to reach $10bn by 2025, rising at a compound annual growth rate (CAGR) of 9.1% between 2019 and 2025.
The strongest growth will be in software, which will record a CAGR of 12.5% between 2019 and 2025, rising from $2.5bn in 2019 to $4.8bn in 2025. Over the same period, hardware expenditure will increase from $1.2bn to $2bn, a CAGR of 9.3%. Services will record the smallest CAGR, 4.6%, rising from $2.3bn in 2019 to $3.1bn in 2025.
For full details (including contact details) on the leading companies within this space, download the free Buyer’s Guide below:
Frequently asked questions
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Why is cybersecurity crucial in the energy sector?
Cybersecurity is critical in the power sector due to the increasing digitalisation of assets, which makes power grids vulnerable to cyberattacks. A successful attack could disrupt energy supplies, compromise infrastructure, and lead to significant financial and operational losses. Protecting operational technology (OT) and industrial IoT (IIoT) systems is essential to ensure the continuity and safety of energy production and distribution.
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What are common cybersecurity threats in the energy industry?
Common threats include ransomware, phishing, insider threats, and attacks on operational technology systems. These cyberattacks can disrupt power grids, steal sensitive data, or damage critical infrastructure.
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How do leading cybersecurity companies protect energy and utilities?
Cybersecurity companies provide solutions such as threat detection, network monitoring, data encryption, and incident response. They also offer services for securing industrial control systems (ICS) and developing robust cyber resilience strategies to protect power infrastructure from evolving threats.
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What are the challenges of implementing cybersecurity in power grids?
Challenges include securing legacy systems, managing the complexity of interconnected networks, and addressing regulatory compliance. Additionally, power companies must balance the need for robust cybersecurity with operational efficiency and cost constraints.
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How is AI helping improve cybersecurity in the energy sector?
AI helps enhance cybersecurity by automating threat detection, analysing vast amounts of data in real-time, and identifying anomalies or potential breaches. AI-powered systems can also predict and prevent attacks, improving overall grid resilience and reducing response times during cyber incidents.
