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US$6 Trillion in Cybercrime Damages Annually by 2021: Cybersecurity Ventures Report

Posted By - DynamicCISO,

Enterprise and government spending for cyber security products, managed services, and professional services will be substantial over the course of the next few years. According to Cybersecurity Ventures, cumulative global spending on cyber security products and services will exceed $1 trillion over the next five years. Furthermore, the firm predicts $6 trillion in cybercrime damages annually by 2021. Accordingly, Mind Commerce sees damage control and mitigation solutions as a critical portion of the cyber security market.


At the macro level, spending is driven by the realization of increasingly more voluminous and sophisticated global threats to digital infrastructure. At the business level, company reliance upon the Internet, open interfaces, and communication between customers and other companies necessitates robust cyber security solutions. In addition, new technologies and solutions such as the Internet of Things (IoT) will require new approaches to cybersecurity and hence innovative solutions as evaluated in the Mind Commerce report Artificial Intelligence in IoT Security and Fraud Prevention 2017 – 2022.

Global Cybersecurity Market Outlook and Forecasts 2017 – 2022 examines cyber security technology and solutions. The report assesses risks and security operation issues relative to current and anticipated cybersecurity technologies. The research also assesses the impact regionally including North America, Europe, APAC, Middle East, Africa, and Latin America. The report evaluates leading cyber security solution provider companies, product and solutions, and impact on industry verticals. The report includes global and regional cybersecurity forecasts for the period 2017 to 2022 by product and solution, managed services, professional services, security type, deployment model, industry verticals, and threat platforms. 

Download the full report: https://www.reportbuyer.com/product/4897121/

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Related Tags - Cyber Crime, Cybersecurity Ventures, digital infrastructure

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