![]() Cybercrimes cost the world nearly $600 billion each year, equivalent to 0.8% of the global GDP (Mordor Intelligence, 2020). Losses from cybercrime damages are expected to reach $6 trillion by 2021 (Cybercrime Magazine, 2020). Look at some cybersecurity industry statistics, so you’ll know the state of today’s cybersecurity and why you need to gear up your efforts to protect your systems: The global cybersecurity market is expected to be worth $352.25 billion, with an annual growth rate of 14.5%, by 2026 (Mordor Intelligence, 2020). And this is exacerbated by the presence of a global pandemic. Many organizations have poor security practices, making them vulnerable to cyber threats. Cybersecurity statistics indicate a significant rise in data breaches and hacking, most of which involve workplace devices. Cybercrimes are now an everyday concern for businesses. ![]() ![]() Nearly 68 per cent of business leaders agree global cybersecurity threats are on the rise. ![]() The pace of cybersecurity growth is likely to continue in the upcoming years as industries invest heavily in security solutions to meet the ever-expanding range of threats and requirements. Since 2017 ,the global cyber arena has been occasionally hit by unprecedented cyber-crimes, with many data breaches, ransomware attacks, and even sophisticated state-sponsored cyber-attacks. ![]()
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June 2023
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