Cyberattacks on critical infrastructure sectors — those considered vital to a country’s security and economy, such as healthcare, telecommunications, and utilities — pose a significant threat to national and economic security.
These attacks can inflict damages costing billions of dollars. Since 2017, every critical infrastructure cyberattack causing an estimated $1B+ in damages has affected the healthcare sector in some capacity, highlighting its particular vulnerability to digital threats.
The Change Healthcare cyberattack that occurred in early 2024 is a prime example. Hackers took systems offline to disrupt patient care, by inhibiting claims processing and prescription order fulfillment. The attack ultimately cost UnitedHealth Group nearly $3B.
In the face of rising attacks, operational technology (OT) security platforms — which help secure physical devices through vulnerability management and threat detection — are evolving to help protect critical infrastructure.
In this brief, we use CB Insights datasets like buyer interviews, business relationships, and investments to explore this evolution. We also highlight how industrials companies have strengthened infrastructure defenses through security collaborations and strategic investments and how healthcare can adapt.
Here are the key takeaways:
- Increased connectivity is driving up demand for OT solutions that cover IoT security. The global number of IoT devices is expected to exceed 32B by 2030, expanding the attack surface available to hackers. When investing or partnering in this market, companies in critical infrastructure sectors should prioritize sector-specific and integrated solutions that consider their specific equipment specifications and regulatory requirements.
- Industrials firms have been quick to leverage partnerships for OT security, while the healthcare sector has lagged behind. Healthcare players considering OT security solutions should look beyond partnerships to identify solutions capable of catering to their specific needs.
- Energy organizations in particular are making strategic OT security investments to better protect key infrastructure. Further regulation could drive increased investment in this market.
