The Importance of Cybersecurity Companies In the Modern World

Endpoint security solution

The first iPhone was released in the year of 2007 and since then, technology has completely changed how people live their lives. If you want a perfect example of this then look no further then photographs. Photographs used to take time to develop but now, they can be taken with a phone and they are instantly stored in a digital cloud that can be accessed at all times.

The internet and technology have now grown to the point where a large number of businesses rely on a cloud of data to store their information. While this comes with benefits, like remote network access software, there are also some negatives. For instance, plenty of businesses now need the aid of cybersecurity companies to help protect them from theft and hackers. Here are all of the fats that surround the importance of cybersecurity companies.

In 2016, global spending on the Internet of Things across all markets was $737 billion. The International Data Corporation predicts that by 2020 this number will reach $1.29 trillion, a compound annual growth rate of 15.6%. This amount of money cannot be traded across the internet amongst companies without the proper protection.

As a result of the financial importance involved in the internet now, cybersecurity companies are a huge deal not just in America but across the globe. All high-end businesses that do work online will hire some form of cybersecurity companies to help them protect their investments. This is essential because hackers are growing in skill and abilities and as a result, cybersecurity companies are more and more important than ever before.

In 2015, there were about 15.4 billion Internet-connected devices. According to IHS Markit, this number will grow to 30.7 billion in 2020, and 75.4 billion by 2025. Many experts predict that by the year 2021, Cybercrime damage costs can potentially hit $6 trillion on a yearly basis.

There were 3.8 billion internet users in 2017, that’s 51% of the world?s population of 7 billion, up from 2 billion in 2015. Cybersecurity Ventures predicts there will be 6 billion internet users by 2022, which is75% of the projected world population of 8 billion, and more than 7.5 billion internet users by 2030.

More than 209,000 cybersecurity jobs in the U.S. are unfilled, and postings are up 74% over the past five years. Unfilled cybersecurity jobs will reach 1.5 million by 2019. In 2016, the number of ransomware attacks increased 300% from 2015, with more than 4,000 attacks detected per day, according to the Federal Bureau of Investigation.

In 2007, the U.S government spent $7.5 billion to combat malicious cyber attacks. That?s measly compared to the 2016 cybersecurity spend of $28 billion, which equates to a whopping 373% increase. More than 300 billion passwords will be in use by 2021, including 200 million Internet of Things credentials alone.

In Conclusion

Endpoint cyber security solutions and cybersecurity companies that offer network access protection services are the way to go. These types of companies will work hard to protect you and your investments from the dangers that lurk online.

About: Technology

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