Tech Trend: How to Play Cybersecurity

Tech Trend: How to Play Cybersecurity

Summary:The cybersecurity market is estimated to be worth $101-$170 billion by 2020 vs. $88 billion currently.The majority of executives and IT staff are not confident in their current infrastructure.By 2030, there will be over 49 billion connected devices, or about 6.5 devices per person.The internet has been growing at an incredible clip…but so has cybersecurity threats. The internet of things, mobile applications and other connected mediums have woven their way into our daily work lives and at-home routines. Criminals view this as an opportunity to subtly connect to your smart device in order to steal your personal or professional data; however, billions of dollars are getting put to work to prevent such an occurrence.Specifically, the security market is estimated to be an $88.8 billion dollar market by the end of 2016, according to Gartner – a public firm that specializes in IT research and advisory services. Executives are clearly demanding that their IT departments batten down the hatches and prepare for a more sophisticated battle. Other sources have the security market growing at a compounded annual growth rate of 9.8%.Despite the investments to thwart these criminals, C-Suite executives are still concerned. A recent survey from the NYSE indicated that 66% of surveyed board members are not confident that their companies are properly secured from cyber-attacks. In a separate report, conducted by Barkly Cybersecurity, 50% of information technology and security professionals surveyed were not confident in their respective efforts to protect their firms’ data.With all this concern, the future holds even greater capital flows into cybersecurity. Conservative estimates foresee the cybersecurity market being worth $101.6 billion by 2020. More aggressive...