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How much is the global cybersecurity market worth?

ANSWER

— The global cybersecurity market is set to grow from its current market value of more than $120 billion to over $300 billion by 2024, according to a new research report by Global Market Insights. The cybersecurity market is propelled by the increasing need among enterprises to minimize security risks.

Can cybersecurity offer value for money?

Cybersecurity looks like a waste of money. Companies set new global records with $37 billion invested in security in 2018, with spending expected to surpass $42 billion by 2020. Gartner research found that security spending per employee doubled between 2012 and 2018. And yet the bad guys are still gaining the upper hand.

Visualizing the Massive Cost of Cybercrime Worldwide? Interestingly, the impact on life sciences companies rose the most in a year (up by 86% to $10.9 million per organization), followed by the travel industry (up 77% to $8.2 million per organization). This is likely due to an increase in sensitive and valuable data being shared online, such as clinical trial details or credit card information.

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