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It could grow up to nearly $300 billion by 2026. However, the amount spent on cybersecurity is nothing compared to the amount of money projected to be lost by cybercrime. Is cybersecurity spending driving cybercrime? Legislation such as the GDPR and CCPA impose heavy penalties on companies that are victimized by databreaches.
The demand for cybersecurity experts is increasing exponentially as the world becomes more digitally connected, data becomes the new currency, and cybercrimes grow. Thanks to cybercriminals and employee mishaps, databreaches can occur at any time as threats are continually evolving.
Investment in the public cloud is expected to grow from less than 17% in 2021 to more than 45% of total enterprise IT spending by 2026 , according to Gartner. Cybercrime as a business: the advent of extortion ransomware. Businesses will speed up consolidation efforts because of the current economic downturn.
Since the human element remains the most 'hackable' security control, these attacks will likely lead to even more databreaches and/or compromise of control systems. Many of these have already been passed into law but will be taking effect on a rolling basis through 2026 and beyond. "To
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