Cybersecurity Can Help Prevent Increasing Cyber Threats Due to Technological Advancements

In the past few years, the number of cyberattacks has significantly gone up, leading to a state of distress. The advancement in technology and the increasing sophistication of the software have made it easy for hackers to devise such ransomware attacks and hack into the IT infrastructure of the company. 

In 2021, several companies, including McDonald’s, JBS USA, and Colonial Pipeline Co., have become the target of cyberattacks. In addition, approximately 1500 companies globally got impacted due to the ransomware scheme launched by REvil, a Russia-linked cybercrime group.

In a recent interview with Yahoo Finance, John Chambers, currently COE and founder of JC2 Ventures and former CEO of Cisco Systems (CSCO), highlighted that U.S companies might have to suffer from approximately 65,000 ransomware attacks in 2021 only. There is a great possibility that the number of attacks can go as high as 100,000 attacks in 2021.

For instance, it was highlighted in the case of Colonial Pipeline Co that one small password enabled the hackers to compromise and disrupt the IT infrastructure of the organization.

The increasing number of threats such as these demonstrate the need to strengthen cybersecurity across companies. Also, the increasing reliance on technology has made all individuals, small businesses, or large corporations vulnerable to cyber threats. Cybersecurity is a way to keep unwanted technological entry into the system and prevent any potentially sensitive information and data leaks.

Cybersecurity is highly recommended and required to keep unauthorized access to data at bay. In addition, issues such as increasing economic costs and market credibility also play a key role in case of ransomware threats.

Over the years, BIS Research has published premium market intelligence on cybersecurity, highlighting its use and importance across industry segments such as enterprise, military and automotive, etc. Some of the notable titles published include:

  1. Global Automotive Cybersecurity Market – The global automotive cybersecurity market is driven by the increasing implementation of Mobility-as-a-Service (MaaS) and vehicle platooning, the increasing application of the automotive cloud for storage of data and over-the-air updates, and the increasing levels of autonomy. However, the high complexity of the ecosystem with multiple stakeholders and the zero-failure rate of cybersecurity applications are limiting the market growth. The market is projected to grow at a significant CAGR of 22.30% during the forecast period 2020-2025. [Know More]
  2. Automotive Cloud Market – The increasing number of connected vehicles, the growing demand for Internet-of-Things (IoT) and 5G communication for vehicle connectivity, and the changing consumer preferences toward advanced vehicle applications are some of the major factors driving the growth of the automotive cloud market. Also, the market is anticipated to grow at a CAGR of 18.57% during the forecast period 2020-2025. [Know More]
  3. Defense Electronic Security and Cybersecurity Market – The evolving national interests, geopolitical developments, and changing outlines of national security strategy are the factors that motivate emerging regional and global powers to reshape their defense strength by using modern security systems and technology. Such factors drive the global defense electronic security and cybersecurity market. The market is projected to grow at a significant CAGR of 9.65% during the forecast period 2020-2025. [Know More]
  4.  Global Military Artificial Intelligence (AI) and Cybernetics Market – The market has gained widespread importance owing to the rising adoption of artificial intelligence for military operations. However, the lack of standard professionals for the use of AI-integrated equipment and rising cyber threats for military data are some of the factors restraining the market growth. The global military artificial intelligence and cybernetics market is expected to grow at a significant CAGR of 18.66% during the forecast period 2019-2024. [Know More]

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