For the past few years, cybersecurity industry has been experiencing a rapid increase in cyber crimes and this not only has affected the business but your daily life as well. If we analyze the figures and facts of cybercrime and cybersecurity, we will see that cyber crime possess the ability to cripple your legacy by damaging your business overnight. So before you start securing your personal details and business transactions as digital assets with Legacyarmour to avoid unclaimed benefits and to plan your succession strategically, take a look at how cybercrime can create havoc influence the economy in the next 5 years.
Prediction of damage costs
From three trillion dollars annually in 2015 to six trillion dollars by 2021, the statistical figure shows that the damages caused by cybercrime will take a huge leap in just 5 years which is the maximum monetary transfer till date and it definitely will cause jeopardy in inducement for monetary investment. As media sources and the community of cybersecurity jointly agrees on, such a huge transaction is much profitable than illegal drug dealings all over the world
Exceeding costs of cyber information security
To push the information security level to top-notch, a titanic cost is spent. As Gartner’s statistics show, cybersecurity has spent over 86.4 billion dollars till 2017 for information security and this cost excludes the account of IoT –Internet Of Things, Industrial IoT, Automotive security, ICS (Industrial Control Systems) and various cybersecurity subcategories. The prediction shows that by 2021, the product cost and service cost of Cybersecurity will exceed 1 trillion dollars in just five years.
Zero unemployment of cybersecurity jobs
With the rapid increase of cybersecurity, each IT position needs to take cybersecurity position seriously too i.e. the IT workers/ technology related workers should be aware of how to encrypt digital devices, apps, personal data, and infrastructure. What the vacancy of cybersecurity positions suggests, shortage of cybersecurity workers is much worse and as a matter of fact, the vacancy will increase 3.5 million, more than three times with increasing cybercrime.
Digitalization of 75% of the projected global population
The more people get internet-savvy, more benefit to the hackers. Even the six years old kids are going digital and becoming machine-dependent –cyber-criminals can smell fresh blood rather than silicon. From two billion users of the internet in 2015 to 3.8 billion among seven billion populations by 2017 (51% of global population is internet-users), things have worsened. Cybersecurity Ventures predict that before 2022, 75% of eight billion global population i.e. six billion users of the internet will reach up to 7.5 billion i.e. 90% of 8.5 billion global population by 2030.
Global Ransomware – a threat to business
The damage rate by ransomware has exceeded 15 times of 325 million dollars since 2015 and it will worsen 4 times by 2020, affecting medical organizations the most. The statistics show that by 2019, the damage rate will exceed 11.5 billion dollars and that in every fourteen seconds, ransomware will attack will take place –no business will be safe.