With the worldwide security market reaching $22.1 billion in 2015 in terms of revenue, Garner estimates that it increased by 3.7 percent as compared to 2014. While the figures for 2016 are yet to surface, it’s safe to estimate these numbers will surely rise, especially in light of recent cyberattacks and global security awareness.
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In August 2016, Eddie Bauer became one of the latest well-known retailers to get hit with a security breach. According to a statement by the company’s CEO Mike Egeck, Eddie Bauer learned that the point-of-sale systems at its retail stores were affected by malware.
The proliferation of IoT devices for both consumers and business has opened up a new market that’s estimated to reach a whopping $661.74 billion by 2021, from $157.05 billion in 2016. Considering the obvious business opportunities, security researchers have expressed concerns regarding the security mechanisms – or lack of – bundled with “smart things”.
Many enterprises today are deeply entrenched in their digital transformation efforts, so that their business can best leverage digital technologies to compete and grow. According to a recent survey conducted by IDC for Unisys, 72% of enterprises believe that it is critical or very important for an organization to modify IT processes and resources to support a digital business model.
By the end of the decade, Internet of Things (IoT) devices will outnumber users with laptops, tablets or smartphones by more than three times, research and advisory firm Gartner predicts. From the total of 21 billion of IoT devices that will be in use worldwide, nearly 6 percent will be used for industrial IoT applications.
The FBI urges victims to report ransomware incidents to federal law enforcement to help authorities gain a more comprehensive view of the current threat and its impact on U.S. victims.
Rapid enterprise adoption of cloud computing, mobile, and IoT is transforming how enterprises invest in enterprise security. According to a report issued earlier this year, the information security market will reach a staggering $170 billion in five years, from its current $100 billion.
Advanced Persistent Threats are the plague of enterprise security, crippling businesses and IT careers through costly data breaches and massive losses. They routinely evade traditional security systems and steal confidential corporate information without a trace.
Government agencies are no strangers to hacker attacks. Some of the biggest and most well-publicized breaches in recent years have come against public sector organizations—despite ongoing efforts to bolster the cyber security of agencies that have a huge impact on the lives of many citizens worldwide.
Ransomware, the most prolific cyber threat of the moment, gains foothold in organizations and companies via file-sharing networks, e-mail attachments, malicious links or compromised websites that allow direct downloads. The first quarter of 2016 saw 3,500% growth in the number of ransomware domains created, setting a new record.
Leoni AG, a Germany-based supplier of wires, cables and wiring systems, has fallen victim to fraud with the help of falsified documents and identities and the use of electronic communication channels, the company has announced. As a result, company funds were transferred to accounts abroad.
Information technology companies are especially aware of the need for strong cyber security, given that their products and services are an integral part of why security measures are needed in the first place.