$6 trillion. According to Cybersecurity Ventures, that is what cybercrime will cost the world by 2021—annually… As they put more poetically, this will represent “The greatest transfer of economic wealth in history.”
The following is a short compilation of some of the wildest statistics we pulled from the article. We highly encourage you to take a look at the full article at: https://cybersecurityventures.com/cybercrime-damages-6-trillion-by-2021/
- The world’s digital content is expected to grow from 4 billion terabytes (4 zettabytes) in 2016 to 96 zettabytes by 2020 (this is how big a zettabyte is).
- The world will need to cyber-protect 300 billion passwords globally by 2020.
- The IoT world will explode from 2 billion objects (smart devices which communicate wirelessly) in 2006 to a projected 200 billion by 2020, according to Intel.
- Ransomware attacks on hospitals are predicted to increase 5X by 2021
- At the end of 2016, a business fell victim to a ransomware attack every 40 seconds. Cybersecurity Ventures predicts that will rise to every 14 seconds by 2019 — and every 11 seconds by 2021
Though many industry experts approach cybercrime as a statistical inevitability rather than a chance event, there is still plenty that organizations can and need to do to prepare themselves for mitigating these disasters. It all starts with being proactive. Evaluate the vulnerabilities of your organization’s current security approach, get your employees the relevant training they need to reduce risk, and start budgeting for innovative new solutions like a Software Defined Perimeter.