Cybersecurity in Oil and Gas – Thematic Research

Powered by

All the vital news, analysis, and commentary curated by our industry experts.

Cybersecurity in Oil and Gas Report Overview

The Colonial Pipeline attack in May 2021 was a wake-up call that highlighted the vulnerability of the oil and gas industry to cyber threats. Cyber threats have always presented a risk to oil and gas companies. However, several factors, such as COVID-19 and the industry’s digitalization, have heightened the sector’s vulnerability.

As critical national infrastructure, oil and gas companies are key targets for cybercriminals. Cyberattacks on oil and gas companies promise maximum disruption and extortion opportunities. As a result, leading oil and gas companies are fortifying their cybersecurity posture by investing heavily in this theme. Companies that maintain cybersecurity as a central tenet of their digital strategy stand to gain the most, however, companies failing to sufficiently invest in cybersecurity face financial and reputational harm. Finally, technology vendors that recognize the industry’s specific requirements, such as the challenge of protecting aging industrial assets, will become leaders within the oil and gas cybersecurity market.

Key value chains Hardware, Software, and Services
Leading oil & gas companies BP, ConocoPhillips, Eni, Equinor, ExxonMobil, and OMV
Specialist cybersecurity vendors Kognitiv Spark, Mission Secure, Otorio, Sectrio, Siemens Energy, and ViaSat

For more insights on the cybersecurity in oil and gas market forecast, download a free sample report

Cybersecurity in Oil and Gas Market Dynamics

The COVID-19 pandemic changed the operating environment of oil and gas companies and catalyzed internal change within the industry. More generally, the pandemic saw an increase in cyberattacks as attackers exploited the unprecedented nature of the situation to target cyber-naïve, remote-working employees.

Oil and gas companies are waking up to the challenge of ESG and increasingly recognize its importance to investment decisions within their businesses. Although ESG contains three pillars, environmental, social, and governance, the first aspect is often seen as oil and gas companies’ biggest weakness. Additionally, progress on environmental issues has been slow, with events such as COVID-19 and the Russia-Ukraine war shifting focus away from longer-term strategies such as the industry’s energy transition.

Technologies such as AI, blockchain, cloud computing, IoT, robotics, VR, and AR can offer tangible benefits to oil and gas companies. As a result, companies have heavily invested in these technologies in recent years to streamline their operations and gain an edge over their competitors. However, integrating these technologies into oil and gas operations also comes with significant risks. The digitalization wave in the oil and gas industry is creating new access points in industrial networks for hackers to exploit. As technology develops, from mobile to the cloud to IoT, the level of complexity needed for organizations to maintain a cyber-aware stance also increases.

For more information on the cybersecurity in oil and gas market dynamics, download a free sample report

Cybersecurity Value Chain Insights

The key cybersecurity value chains can be divided into three segments: hardware, software, and services.

Hardware

With chips now being used in mission-critical servers and safety-critical applications, protecting chips from cyberattacks is becoming more critical and more expensive. Systems vendors such as Apple and Amazon are increasingly designing their chips rather than buying commercially developed devices and intellectual property (IP) created by third-party developers.

Software

The software element of the cybersecurity value chain comprises the following areas: identity management, network security, endpoint security, threat detection & response, cloud security, data security, email security, application security, unified threat management, and vulnerability management.

Services

The services element of the cybersecurity value chain comprises the following areas: managed security services, post-breach response services, and risk & compliance services. Services are typically outsourced because of the complexity of addressing cybersecurity-related issues, such as staying on top of vulnerabilities, identifying & responding to threats, and meeting compliance requirements.

To know more about the key value chain components in the cybersecurity in oil and gas industry, download a free sample report

Cybersecurity in Oil and Gas Market – Competitive Landscape

Leading oil & gas companies: The leading oil & gas companies that are deploying cybersecurity are BP, ConocoPhillips, Eni, Equinor, ExxonMobil, and OMV.

Specialist cybersecurity vendors in the oil & gas industry: The specialist cybersecurity vendors in the oil & gas market are Kognitiv Spark, Mission Secure, Otorio, Sectrio, Siemens Energy, and ViaSat.

For more insights on how cybersecurity is impacting the oil & gas industry, download a free report sample

Scope

  • The detailed value chain is comprised of hardware, software, and services. The value chain is further broken down into chip-based security, identity management, network security, endpoint security, threat detection and response, cloud security, data security, email security, application security, unified threat management, vulnerability management, managed security services, post-breach response services, and risk and compliance services. Leading and challenging vendors are identified across all the value chain’s segments.
  • Challenges the oil and gas sector is currently facing are outlined, and how these interact with the theme of cybersecurity are explored. Details of case studies of how oil and gas companies are boosting their cybersecurity posture are also given.
  • Forecasts of cybersecurity revenues to 2025 are split by hardware, software, and services. An overview of key mergers and acquisitions between oil and gas companies and cybersecurity vendors between March 2021 to April 2022 is provided. Comprehensive industry analysis is also provided, looking at company filings, hiring, and social media trends related to cybersecurity within the oil and gas sector.
  • A timeline highlighting key milestones in the relationship between cybersecurity and the oil and gas sector is given. A list of leading cybersecurity technology vendors, a separate list of cybersecurity vendors specific to oil and gas, and leading industry adopters are provided. Finally, thematic scorecards rank integrated oil and gas companies on 10 themes including cybersecurity.

Key Highlights

The Colonial Pipeline attack in May 2021 was a wake-up call that stoked cybersecurity concerns in the oil and gas industry

and beyond. GlobalData’s Emerging Technology: Sentiment Analysis Q1 2022 illustrates that the reverberations from this

event are still being felt. Cybersecurity was ranked the second most disruptive theme behind artificial intelligence (AI),

with just under 63% of respondents indicating that they expected cybersecurity to disrupt their industry in the next year. The critical nature of oil and gas infrastructure in an increasingly unstable world will heighten the risk of cyberattacks. On

March 21, 2022, President Biden said intelligence indicated Russia was exploring a cyberattack against the US. He urged

critical infrastructure owners and operators to “accelerate efforts to lock their digital doors.” The capacity for severe

disruption, combined with the convergence of OT and IT and inadequately protected oil and gas infrastructure, will see

oil and gas companies become prime targets during future conflicts. The ever-increasing threat of cyberattacks will drive an increase in cybersecurity spending. Global cybersecurity revenues

are expected to reach $198 billion in 2025, recording a compound annual growth rate (CAGR) of 9.5% between 2020 and

2025. The energy industry will be an important driver of increasing cybersecurity revenues globally. Cybersecurity is the most mentioned technology theme in oil and gas company filings. In 2021, cybersecurity appeared

over 10,800 times, an 11% increase from the previous year. This illustrates how events such as the cyberattack on the

Colonial Pipeline have increased engagement with this theme, making it a chief concern for the industry.

Reasons to Buy

  • To understand the impact cybersecurity is having on the oil and gas industry.
  • To identify the emerging trends in this theme and how these developments might advance in the future.
  • Learn about the different use cases of cybersecurity in oil and gas and how cybersecurity relates to the sector’s challenges. View market forecast data for cybersecurity technology up to 2030.
  • Source the leading cybersecurity vendors for the oil and gas sector from our winners lists and shortlist potential partners based on their areas of expertise. GlobalData’s thematic research ecosystem is a single, integrated global research platform that provides an easy-to-use framework for tracking all themes across all companies in all sectors. It has a proven track record of identifying the important themes early, enabling companies to make the right investments ahead of the competition, and secure that all-important competitive advantage.

3D Systems
6D.ai
8th Wall
AAC Technologies
Adlens
Alphabet (Google)
Apple
Applied Materials
Argis solutions
Augment
Baker Hughes
BP
BYD
Centrica
Chevron
Cisco
Cognex
DigiLens
Dolby Labs
Echo
Engen
Equinor
Exxon Mobil
EyeLights
Fugro
Goertek
Groove Jones
Himax
Huawei
IBM
IC Helmets
Intel
Intellectsoft
Kiber
Kognitiv Solutions
LG Chem
Librestream
Lumus
Magic Leap
Meta
Microsoft
Microsoft
Microvision
Mojo Vision
National Orwell Varco
Occipital
Olympus
OMV
Oracle
Panasonic
PDVSA
Pertamina
PMD
Qualcomm
RealWear
Reliance Industries
Rokid
Rosneft
Royal Dutch Shell
Samsung Electronics
Samsung SDI
Schlumberger
Schneider Electric
Seiko Epson
Sennheiser
Siemens
Snap
Sony
Stantec
TeamViewer
Toshiba
Total
Trimble
UltraLeap
Unity
Varjo
ViewAR
VividQ
Vuzix
WayRay
Whiting Petroleum
Worley
Xiaomi

Table of Contents

Executive Summary

Cybersecurity Value Chain and key players

Oil and Gas Challenges

The impact of cybersecurity on Oil and Gas

Case studies

Data analysis

Mergers and acquisitions

Analysis of alternative datasets

Timeline of key cybersecurity events in oil and gas

List of leading companies (tech vendors and industry adopters)

Scorecards

Our thematic research methodology

About GlobalData

Frequently asked questions

Cybersecurity in Oil and Gas – Thematic Research thematic reports
Currency USD
$995

Can be used by individual purchaser only

$1,995

Can be shared globally by unlimited users within the purchasing corporation e.g. all employees of a single company


Undecided about purchasing this report?

Enquire Before Buying Request a Free Sample

Get in touch to find out about multi-purchase discounts

reportstore@globaldata.com
Tel +44 20 7947 2745

Every customer’s requirement is unique. With over 220,000 construction projects tracked, we can create a tailored dataset for you based on the types of projects you are looking for. Please get in touch with your specific requirements and we can send you a quote.

Sample Report

Cybersecurity in Oil and Gas – Thematic Research was curated by the best experts in the industry and we are confident about its unique quality. However, we want you to make the most beneficial decision for your business, so we offer free sample pages to help you:

  • Assess the relevance of the report
  • Evaluate the quality of the report
  • Justify the cost

Download your copy of the sample report and make an informed decision about whether the full report will provide you with the insights and information you need.

Below is a sample report to understand what you are buying

See what our customers are saying

“The GlobalData platform is our go-to tool for intelligence services. GlobalData provides an easy way to access comprehensive intelligence data around multiple sectors, which essentially makes it a one-for-all intelligence platform, for tendering and approaching customers.

GlobalData is very customer orientated, with a high degree of personalised services, which benefits everyday use. The highly detailed project intelligence and forecast reports can be utilised across multiple departments and workflow scopes, from operational to strategic level, and often support strategic decisions. GlobalData Analytics and visualisation solutions has contributed positively when preparing management presentations and strategic papers.”

Business Intelligence & Marketing Manager, SAL Heavy Lift

“COVID-19 has caused significant interference to our business and the COVID-19 intelligence from GlobalData has helped us reach better decisions around strategy. These two highlights have helped enormously to understand the projections into the future concerning our business units, we also utilise the project database to source new projects for Liebherr-Werk to use as an additional source to pitch for new business.”

Market Analyst & Management, Liebherr-Werk

Your daily news has saved me a lot of time and keeps me up-to-date with what is happening in the market, I like that you almost always have a link to the source origin. We also use your market data in our Strategic Business Process to support our business decisions. By having everything in one place on the Intelligence Center it has saved me a lot of time versus looking on different sources, the alert function also helps with this.

Head of Key Accounts, Saab AB

Having used several other market research companies, I find that GlobalData manages to provide that ‘difficult-to-get’ market data that others can’t, as well as very diverse and complete consumer surveys.

Marketing Intelligence Manager, Portugal Foods

Our experience with GlobalData has been very good, from the platform itself to the people. I find that the analysts and the account team have a high level of customer focus and responsiveness and therefore I can always rely on. The platform is more holistic than other providers. It is convenient and almost like a one stop shop. The pricing suite is highly competitive and value for our organisation.

I like reports that inform new segments such as the analysis on generation Z, millennials, the impact of COVID 19 to our banking customers and their new channel habits. Secondly the specialist insight on affluent sector significantly increases our understanding about this group of customers. The combination of those give us depth and breadth of the evolving market.

I’m in the business of answering and helping people make decisions so with the intelligence center I can do that, effectively and efficiently. I can share quickly key insights that answer and satisfy our country stakeholders by giving them many quality studies and primary research about competitive landscape beyond the outlook of our bank. It helps me be seen as an advisory partner and that makes a big difference. A big benefit of our subscription is that no one holds the whole data and because it allows so many people, so many different parts of our organisation have access, it enables all teams to have the same level of knowledge and decision support.

Head of Customer Insight and Research, Standard Chartered

“I know that I can always rely on Globaldata’s work when I’m searching for the right consumer and market insights. I use Globaldata insights to understand the changing market & consumer landscape and help create better taste & wellbeing solutions for our customers in food, beverage and healthcare industries.

Globaldata has the right data and the reports are of very high quality compared to your competitors. Globaldata not only has overall market sizes & consumer insights on food & beverages but also provides insights at the ingredient & flavour level. That is key for B2B companies like Givaudan. This way we understand our customers’ business and also gain insight to our unique industry”

Head of Consumer Sensory Insights, Givaudan

GlobalData provides a great range of information and reports on various sectors that is highly relevant, timely, easy to access and utilise.  The reports and data dashboards help engagement with clients; they provide valuable industry and market insights that can enrich client conversations and can help in the shaping of value propositions. Moreover, using GlobalData products has helped increase my knowledge of the finance sector, the players within it, and the general threats and opportunities.

I find the consumer surveys that are carried out to be extremely beneficial and not something I have seen anywhere else. They provided an insightful view of why and which consumers take (or don’t) particular financial products. This can help shape conversations with clients to ensure they make the right strategic decisions for their business.

One of the challenges I have found is that data in the payments space is often piecemeal. With GD all of the data I need is in one place, but it also comes with additional market reports that provide useful extra context and information. Having the ability to set-up alerts on relevant movements in the industry, be it competitors or customers, and have them emailed directly to me, ensures I get early sight of industry activity and don’t have to search for news.

Senior Account Manager, TSYS
Go even deeper with GlobalData Intelligence Center

Every Company Report we produce is powered by the GlobalData Intelligence Center.

Subscribing to our intelligence platform means you can monitor developments at Cybersecurity in Oil and Gas – Thematic Research in real time.

  • Access a live Cybersecurity in Oil and Gas – Thematic Research dashboard for 12 months, with up-to-the-minute insights.
  • Fuel your decision making with real-time deal coverage and media activity.
  • Turn insights on financials, deals, products and pipelines into powerful agents of commercial advantage.