Cybersecurity in Construction - Thematic Research

Cybersecurity in Construction - Thematic Research

Summary

Cybersecurity has never been more disruptive, as the number of cyberattacks on companies increases and the potential damage and disruption caused grows exponentially. The threat of cyberattacks is growing in line with increased connectivity between physical and digital systems. Lower barriers to entry for cyberthreat actors, more aggressive attack methods, a lack of cybersecurity professionals, and patchwork risk management mechanisms have aggravated the risk for all construction companies.

Global security revenues will reach $198 billion by 2025. In the construction sector, security revenues will reach $8.4 billion by 2025. This growth is driven by fraud prevention and transactional security, security intelligence and management, and endpoint security platforms. The largest revenues are accounted for by managed security services, which will grow to almost $2.6 billion in 2025.

This thematic report takes an in-depth look at look at the growing need for cybersecurity in the construction sector and how the threat landscape is being addressed.

This report provides a detailed analysis of cybersecurity in the construction industry.

The construction sector faces many challenges that lead to cybersecurity vulnerabilities. Construction projects are increasingly complex with greater collaboration between stakeholders. Diversified supply chains lead to many third parties with access to valuable intellectual property and sensitive data. Construction companies are also being targeted due to their increasing digitalization and usage of building information modeling (BIM), the internet of things (IoT), and drones, while only giving a cursory nod to cybersecurity measures during adoption.

Companies should invest in cybersecurity measures across all stages of a construction project, from design to operations, as an attack can occur at any stage. In particular, managed security services are vital to ensure coherent and adaptable measures. Good cybersecurity is also a part of strong ESG credentials, as it is a vital aspect of risk management. Construction companies should view cybersecurity on an equal footing with physical security and ensure Chief Information Security Officers (CISOs) are on company boards. This will also help companies navigate increasing regulatory scrutiny.

Scope

• This report provides an overview of the cybersecurity theme. The detailed value chain comprises three segments: hardware, software, and services. Leading and challenging vendors are identified across all three segments.
• It identifies construction challenges, such as ESG, sourcing, and safety, and an impact assessment of cybersecurity on the construction industry, addressing these challenges.
• It includes three case studies, outlining market-leading use cases of cybersecurity in construction to solve specific challenges such as operational technology vulnerabilities and secure procurement processes.
• It contains comprehensive industry analysis, including forecasts for cybersecurity revenues in construction to 2025, and insight from GlobalData’s Job Analytics and Social Media Analytics databases. It contains details of M&A deals driven by the cybersecurity theme, and a timeline highlighting cybersecurity milestones and events in construction.
• The report has extensive coverage and analysis of relevant companies’ positions in the cybersecurity theme. This includes leading adopters, vendors, and specialist cybersecurity vendors in construction.
• It includes GlobalData’s unique thematic scorecard that ranks construction companies according to their positioning in the ten themes most important to the industry, of which cybersecurity is one.

• This report will help you to understand cybersecurity and its potential impact on the construction sector.
• Benchmark your company against your competitors, by comparing how prepared 46 companies in the construction sector are for cybersecurity disruption.
• Identify and differentiate between the leading cybersecurity vendors and formulate an adoption plan for your company.
• Position yourself for future success by investing in the right cybersecurity technologies. Cut through the noise with GlobalData’s priority ratings for each cybersecurity technology for each segment of the industry (conceptual design, feasibility studies, planning and permitting, financing, design and engineering, construction, and operations and maintenance).
• Develop relevant and credible sales and marketing messages for construction companies by understanding key industry challenges and where cybersecurity use cases are most useful.
• Identify attractive investment targets by understanding which companies are most advanced in the themes that will determine future success in the construction industry.