The impact of interconnecting everything and everyone online cannot be understated. However, we also need to closely look at how this impacts the downsides.Let us look at some of the World's largest Data Breaches till date.
Let us look at some of the World's largest Data Breaches till date.
Organizations have stepped up spending. Cybersecurity is now part of board room discussions.
Gartner, Inc. forecasts worldwide enterprise security spending to total $96.3 billion in 2018, an increase of 8 percent from 2017. Organizations are spending more on security as a result of regulations, shifting buyer mindset, awareness of emerging threats and the evolution to a digital business strategy. The highest percentage of respondents said that a security breach is the main security risk influencing their security spending.
Other factors fuelling higher security spending include Regulatory Compliance and Data Privacy requirements.
Gartner also forecasts that by 2020, more than 60 percent of organizations will invest in multiple data security tools such as Data Loss Prevention, Encryption and Data-centric Audit and Protections tools, up from approximately 35 percent today.
Enterprise Cybersecurity budgets are also shifting towards Detection and Response, and this trend will drive security market growth during the next five years. Increased focus on detection and response to security incidents has enabled technologies such as Endpoint Detection and Response, and User Entity and Behaviour Analytics to disrupt traditional markets such as endpoint protection platforms and SIEM.