News Summary:

• OT Security Takes Center Stage: 89% of respondents cited cybersecurity compliance as very or extremely important. CIOs are increasingly aware that their largest vulnerabilities are within their operational infrastructure.
• IT/OT Collaboration is Key: 41% of firms report OT and IT teams working independently, emphasizing the need for improved collaboration. A unified approach can lead to simplified operations, enhanced cybersecurity and faster, more informed decision-making.
• Preparing for AI: 48% of respondents view AI as the most significant technological impact on industrial networking in the next five years. AI will be a spending priority for automating tasks, enhancing network performance and providing predictive insights.

SAN JOSE, Calif., July 30, 2024 — Cisco (NASDAQ: CSCO) today announced the release of its inaugural State of Industrial Networking report to spotlight the critical priorities of the evolving industrial networking landscape. Once a peripheral concern, operational technology (OT) security has become a mandatory focus for organizations worldwide.

The report provides a comprehensive look at the challenges and opportunities that lie ahead as organizations strive to build a secure and efficient industrial networking foundation. It reflects the global need for robust security solutions specifically designed for the unique needs of industrial environments, and the opportunities that lie ahead for those who can overcome its inherent challenges.

“Operational technology, and specifically the network supporting industrial operations, has become a key differentiator for organizations globally,” said Vikas Butaney, Senior Vice President and General Manager, Cisco Networking – SD-WAN, Multicloud and Industrial IoT. “This research spotlights how IT and OT leaders recognize that strengthening their OT security posture is critical to drive business resiliency, improve efficiencies and prepare for the next wave of innovation with AI.”

Key Takeaways from the 2024 Cisco State of Industrial Networking Report

Industrial networks are increasingly connected and OT networks are converging with their enterprise IT counterparts, creating a complex and dynamic environment vulnerable to cyberattacks. A backlog of legacy systems and assets, an expanding attack surface and an overstretched workforce are exacerbating the problem. Looking ahead, there is a clear sense that AI will boost business growth for those who can successfully use it to run better industrial networks. Highlights of the report include:

• Prioritize cybersecurity in OT plans: Organizations that fail to prioritize cybersecurity considerations in their industrial networking strategy will find energy, time and money absorbed in mitigating against attacks—resources which could be otherwise invested in designing OT as a platform for innovation and growth.
• Introduce measures to encourage IT/OT collaboration: OT and IT can no longer work in isolation as their skills and domains increasingly overlap. A combination of human and organizational factors, alongside unified technological solutions, will be required to optimize and protect data and assets.
• Harness AI for competitive advantage: Innovative OT leaders are using AI to differentiate their firms and deliver higher quality products faster. Organizations that don’t update their industrial networking infrastructure for AI to optimize efficiency, harness data, support employees and defend against cyberattacks will struggle to compete.

Notable Statistics

• 89% of respondents cited cybersecurity compliance as very or extremely important
• 92% of executive leaders see value in a unified cybersecurity solution
• 41% of firms report OT and IT teams work independently, emphasizing the need for improved collaboration
• 48% of respondents view AI as the most significant technological advancement that will impact industrial networking in the next five years
• 49% of respondents expect AI to improve network management across IT and OT
• 63% of respondents have increased spending on industrial infrastructure in the past year

Background

• The Cisco 2024 State of Industrial Networking Report is based on data from a global survey of more than 1,000 industry professionals, conducted by Cisco in association with Sapio Research.
• Survey respondents were from 17 countries and across 20 industry sectors, representing a range of industries that are heavy users of OT including manufacturing, transportation/logistics, energy/utilities and more.
• The report aggregates findings from management to the C-suite at companies with annual revenues of more than $100 million.

Additional Resources

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