The following are the top facts and figures related to the cyber security industry over the previous year and demonstrate what’s to come in the following years.
Top 5 Cyber Security Facts and Figures
Cyber Crime Costs
The expense is expected to hit $6 trillion a year by 2021. Everything starts and closes with digital wrongdoings. Without it, there’s nothing to protect in the digital world. Cyber security experts and significant media channels have widely agreed on the expectation that digital wrongdoing harms will cost people around the world an estimated $6 trillion annually by 2021, up from $3 trillion in 2015.
This speaks to the best exchange of monetary riches ever, dangers the motivators for development and speculation, and will be more productive than the worldwide exchange of all significant unlawful medications joined.
Rising Cyber Security Spending
Cyber security spending is to surpass $1 trillion from 2017 to 2021. According to Gartner, the ever-rising tide of digital wrongdoing has pushed data security (a subsidiary of cyber security) spending to more than $86.4 billion in 2017. That does exclude the Internet of Things (IoT), modern IoT, mechanical control frameworks (ICS) security, car security, and other cyber security classifications. Worldwide spending on cyber security items and administrations is anticipated to surpass $1 trillion in more than five years, from 2017 to 2021.
Cyber Security Workforce Shortage
Digital wrongdoing will dramatically multiply the number of unfilled cybersecurity employees, which is anticipated to reach 3.5 million by 2021. Each IT position is additionally a cyber security position now. Each IT employee and innovation specialist should be included in securing and guarding applications, information, gadgets, frameworks, and individuals. 
The cyber security workforce deficiency is surprisingly more terrible than the employment numbers recommend. Therefore, cyber security unemployment rates have dropped to almost zero percent.
The Growing Target for Cybercriminals
Human assault surface is expected to reach around 6 billion individuals by 2022. As the world advances, people have pushed machines forward as the best focus for digital crooks. There were 3.8 billion web clients in 2017 (51% of the total 7 billion population), up from 2 billion in 2015.
Cyber security experts predict that there will be 6 billion web clients by 2022 (75% of the anticipated population of 8 billion) — and over 7.5 billion web clients by 2030 (90% of the expected population of 8.5 million, six years old and more established). The programmers notice blood now, not silicon.
Rising Ransomware Threat
Worldwide ransomware harm costs are anticipated to surpass $5 billion. That is around $325 million more than 2015 — a 15X increment in two years and anticipated that would compound. Ransomware assaults on social insurance associations — the No. 1 digitally assaulted industry — will be fourfold by 2020. Cyber security experts expect ransomware harm expenses will ascend to $11.5 billion in 2019 and that a business will succumb to a ransomware assault at regular intervals at that point.
What does everything mean? In 2015, Ginni Rometty, IBM’s executive, President, and CEO, stated, “Digital wrongdoing is the best danger to each organization on the planet.“
Top 5 Cyber Security Insights
- By 2021, annual cybercrime damage costs could soar to nearly $6 trillion.
- From 2017 to 2021, cyber security spending is projected to surpass $1 trillion.
- Cybersecurity is anticipated to create 1.5 million jobs by 2019.
- The human attack surface is expected to encompass 4 billion individuals by 2020.
- Approximately 200 billion IoT devices will demand online protection by 2020.
Conclusion
In summary, the cyber security landscape presents a daunting yet evolving reality. As digital crime costs escalate to unprecedented levels and global spending on cyber security skyrockets, the shortage of skilled professionals in the field becomes increasingly acute. With the rapidly expanding human attack surface and ransomware threats rising, the urgency to fortify defenses and adapt to the evolving threat landscape has never been greater.
These top 5 cyber security insights underscore the critical need for proactive measures and strategic investments to safeguard individuals, organizations, and the ever-expanding digital ecosystem against cyber threats in the years to come.
About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.