Cybersecurity is the body of technologies, processes, and practices designed to protect networks, computers, programmes, and electronic data from attack, damage, or unauthorised access.
The manufacturing sector is rapidly digitalising. According to a March 2021 survey by the Packaging Machinery Manufacturers Institute (PMMI), 79% of companies are implementing smart technologies on their processing lines, 64% on their assembly lines, and 60% at end-of-line packaging. Digitalised supply chains mean more data is virtually stored and can be accessed by cybercriminals if cybersecurity measures are not put into place. The PMMI survey found that 87% of manufacturers have a disaster plan in the event of a cyber breach but only 37% of them have tested the plan, placing them at risk. Thus, ensuring manufacturing companies have ample cybersecurity measures in place is fundamental.
Leading packaging companies in cybersecurity
Packaging companies should invest in cybersecurity across packaging conversion and fillings and packaging, as these are the main areas they can control. The further upstream and downstream the value chain, the more difficult it becomes to gain direct control. However, packaging companies across the value chain should synchronise cybersecurity measures, ensuring optimal threat detection and security measures are in place.
Discover the leading cybersecurity companies in the packaging industry
Using its experience in the sector, Packaging Gateway has listed some of the leading companies providing products and services related to cybersecurity.
The information provided in the download document is drafted for packaging executives and technology leaders involved in cybersecurity solutions.
The download contains detailed information on suppliers and their product offerings, alongside contact details to aid purchase or hiring decisions.
Future of cybersecurity in the packaging industry
The global cybersecurity industry will grow from $125.5bn in 2020 to $198bn in 2025 at a compound annual growth rate (CAGR) of 9.5%, according to GlobalData forecasts.
Manufacturing cybersecurity revenues will increase from $11.3bn in 2020 to $19bn in 2025, a CAGR of 10.8% over the period. Spending on cybersecurity software will grow fastest from $4.8bn to $9.6bn, a CAGR of 14.5%. It will be followed by hardware sales, which will increase from $2.5bn to $4.2bn, at a CAGR of 10.7%. The slowest growth will come from services, where revenues will increase from $3.9bn to $5.2bn at a CAGR of 5.5%.