Do you ever wonder why cybersecurity professionals are increasing their budget year-after-year? Increased digital business, mobile computing and now the Internet of Things is impacting Enterprise at breakneck speeds. Although a positive move for many, IT executives now stress about the cost of continued data breaches, which is estimated to go up into the trillions of dollars, according to Gartner, Inc.
A Glimpse At The Future Of Networking
If Network updates are in your future, you are not alone. Cybersecurity spending is expected to climb to $101 billion in 2018, according to Gartner, Inc. Here are five more facts that should make you sit up and take notice that the cybersecurity market is a topic of importance for all IT professionals for years to come.
- IT security is set to increase 8.2 percent in 2015 to $77 billion, and the world will spend $101 billion on information security in 2018. [Gartner, Inc.]
- The cyber security market is estimated to grow to $170 billion (USD) by 2020, at a Compound Annual Growth Rate (CAGR) of 9.8 percent from 2015 to 2020. [Markets and Markets]
- North America and Europe are the leading cybersecurity revenue contributors. [TechSci Research].
- U.S. information security budgets have grown at almost double the rate of IT budgets over the last two years. [PwC Global State of Information Security Survey 2015]
- Based on responses from over 1,000 IT professionals, primarily in North America, spending on security remains strong with 37 percent of enterprise security managers expecting to increase their budget in the next 90 days. [Voice of the Enterprise: Information Security quarterly study]
With that in mind, one critical recommendation from Prime Communications’ Engineers includes ensuring stronger device and app security through automated threat protection safeguarding each device so that it is given appropriate network access privileges.
So, to stop any sleepless nights due to the concerns around cybersecurity, read more about the solutions available to you! Check back with Prime Communications for further updates on how cybercrime will impact your budgets in the future!