Cyberattacks are inflicting substantial financial damage on industrial companies, with nearly 25% globally reporting losses over $5 million, according to a joint report by Kaspersky and VDC Research. In the Asia Pacific (APAC) region, nearly half of the surveyed organizations estimate losses exceeding $1 million, and around 13% face damages above $5 million.
The study, titled “Securing OT with Purpose-built Solutions,” surveyed over 250 decision-makers across sectors like energy, utilities, manufacturing, and transportation. It reveals that the financial consequences of cyberattacks extend beyond immediate response costs. These include unplanned downtime, lost revenue, damage to property or equipment, scrap, and ransom payments.
Adrian Hia, Managing Director for APAC at Kaspersky, said, “APAC businesses must adopt a proactive cybersecurity approach to sustain resilience and competitiveness.”
In APAC, incident response comprises 24.8% of total breach-related expenses, followed by downtime (21.7%), lost revenue (20.6%), equipment repairs (16.3%), and inventory loss (8.9%). Notably, 66% of APAC respondents experienced downtime lasting between 4 and 24 hours, resulting in disrupted operations, lost customer confidence, and decreased profitability.
Experts stress the urgency of strengthening Operational Technology (OT) cybersecurity. “Unplanned downtime from cyber incidents can cost millions,” said Andrey Strelkov, Head of Industrial Cybersecurity at Kaspersky. “Cybersecurity must be prioritized alongside maintenance to prevent operational and financial damage.”
Adrian Hia, Managing Director for APAC at Kaspersky, added that the growing digitalization of OT and supply chain interconnectivity have increased the region’s vulnerability. “APAC businesses must adopt a proactive cybersecurity approach to sustain resilience and competitiveness.”
Kaspersky’s Industrial Cybersecurity (KICS) platform offers a comprehensive defense framework, integrating threat detection, risk assessments, and asset management to safeguard industrial systems across distributed environments. With escalating threats and high financial stakes, the report underscores the growing necessity of robust, purpose-built OT cybersecurity solutions.
