Maritime: How is Singapore's maritime industry addressing the growing threat of cyber attacks?
- Sai Aasritha PATTIPATI
- 17 mai
- 1 min de lecture
About
Key figures of the market
Singapore represents the 8th largest cybersecurity market in APAC, valued at $452.1M, with projected growth of 62% by 2028, reaching $726M. The maritime sector is vital to Singapore’s economy, contributing 7% of GDP, with 13.3 million TEUs handled between January and April 2024 alone. Exposed IT and OT systems account for 87% of incidents, with fleet-wide attacks costing up to $100M. Ransomware attacks surged in Singapore, affecting 84% of organisations in 2023, up from 58% in 2022. Alarmingly, 68% of vessel computers use obsolete operating systems, and only 51% of companies rate their cybersecurity preparedness as progressive or mature.
Opportunities
AI-driven solutions and automation for real-time monitoring, threat detection, and operational efficiency.
Strengthening cybersecurity resilience through initiatives like the Maritime Tested of Shipboard Operational Technology (MariOT) and digital bunkering solutions.
Advancing port digitalisation, including 5G-powered automation at Tuas Port, to enhance security and efficiency.
Access freely the full study to dive deeper into the dynamics of the cybersecurity sector and discover strategies for navigating this rapidly changing landscape.
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This study was carried out by our consultant Ksenia Lobanova. Get in touch with her here if you would like more details on their analysis of the market.
