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:
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