Unveiling the Future of Cybersecurity: Trends, Challenges, and Impacts
Unveiling the Future of Cybersecurity: Trends, Challenges, and Impacts
In recent years, the cybersecurity industry has witnessed a rapid surge in cybercrimes, significantly affecting both businesses and individuals' daily lives. A closer examination of cybersecurity trends and the broader cybersecurity landscape reveals that these digital threats have the potential to disrupt not only your business but also your legacy. Before taking steps to secure your personal information and business transactions as digital assets with the IronClad Family, consider the impending havoc that cybercrime could wreak on the economy in the next five years.
Predicted Damage Costs
The statistics are alarming: from three trillion dollars annually in 2015 to an estimated six trillion dollars by 2021. These figures indicate that the damages caused by cybersecurity trends are set to double in just five years, making it one of the most profitable illicit activities, surpassing even the illegal drug trade worldwide.
Escalating Costs of Cyber Information Security
The quest for top-notch information security comes at a substantial cost. According to Gartner's data, the cybersecurity industry spent over 86.4 billion dollars on information security by 2017. This figure does not even include expenses related to the Internet of Things (IoT), Industrial IoT, Automotive security, Industrial Control Systems (ICS), and various other cybersecurity subcategories. Predictions suggest that by 2021, the combined product and service costs of cybersecurity trends will exceed one trillion dollars in just half a decade.
Zero Unemployment in Cybersecurity Jobs
The rapid growth of cybersecurity trends has implications for every IT position. Now, all IT and technology-related workers must take cybersecurity trends seriously. This means understanding how to encrypt digital vault devices, apps, personal data, and infrastructure. The shortage of cybersecurity workers is already a pressing issue, and it's expected to worsen. Vacancies for cybersecurity positions are projected to increase by more than threefold, reaching 3.5 million job openings due to the surge in cybercrime.
Digitalization of 75% of the Global Population
The expanding number of internet users presents a lucrative opportunity for hackers. As the internet becomes more accessible, the potential for cybercrimes rises. From two billion internet users in 2015 to 3.8 billion among the global population of seven billion in 2017 (representing 51% of the world's population), the situation has intensified. Cybersecurity Ventures predicts that by 2022, 75% of the projected global population, equating to six billion internet users out of eight billion, will grow to 90% of the projected 8.5 billion global population by 2030.
Global Ransomware Threat to Businesses
Ransomware attacks have witnessed a substantial increase, with damage rates surging 15-fold, reaching 325 million dollars since 2015. This trend is projected to intensify, quadrupling by 2020, with medical organizations facing the most significant impact. Statistics indicate that by 2019, the damage rate will surpass 11.5 billion dollars, and a ransomware attack will occur every fourteen seconds, leaving no business safe.
Stay informed about the ever-evolving landscape of cybersecurity trends, challenges, and impacts. Prepare to protect your digital assets and plan your legacy strategically with insights from these cybersecurity trend predictions.
