Digital Utility Group
The mission of this group is to bring together utility professionals in the power industry who are in the thick of the digital utility transformation.
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Continuing Cyberthreats Drive Security Appliance Deployments
Utilities generate more information now than ever before. The volume of threats continues to increase, so they need solutions to protect corporate information. Security appliances are providing to be one important element in their security arsenal.
Make no mistake: hackers continuously attack corporate systems. In fact, cybercrime is predicted to inflict $6 trillion globally in damages in 2021, and the number is expected to reach $10.5 trillion in 2025, according to Cybersecurity Ventures.
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Security Appliances Are Easy to Deploy
To protect sensitive corporate information, utilities need a variety of security solutions. Security appliances are turnkey hardware and software solutions that drop into utility networks and provide various types of protection. Sales reached $4.7 billion in the second quarter of 2022, an increase of 12.2% (more than $505 million) compared to.2020, according to International Data Corp. (IDC).
Unified Threat Management (UTM) solutions, which bundle a number of security features in a single system, accounted for 65% of the security appliance market. Energy companies also invested in niche security applications: Content Management, Intrusion Detection and Prevention (IDP), Virtual Private Networks (VPNs), and traditional firewalls.
Appliances are popular because they are relatively easy to deploy and provide utilities with control over their security solutions. But in a growing number of cases, energy companies are opting for cloud security solutions. Here, they hand maintenance over to a third party, so their technology staff spends more time on strategic initiatives, such as enhancing application functionality.
The threat landscape continues to be ominous for energy companies. As a result, many are deploying security appliances to ward off the bad guys.
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