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Why Cybersecurity Growth Increases Exponentially

cybersecurity growth

Computers and the Internet now play important roles in both our personal and work lives. That’s why cybersecurity growth increases exponentially. 

It seems like cybercriminals are everywhere. We have witnessed many high-profile data breaches in recent years. Even huge companies including Yahoo!, Uber, and Target faced data breaches. If such huge companies with huge security budgets still fall victim to data breaches, what more of smaller companies? 

Cybersecurity is vital to keep our data and information safe from cyberattacks, thus making cybersecurity growth faster than ever. Read on to see the other main reasons behind the rapid cybersecurity growth. 

Cybercrime Is Expensive

Most businesses just can’t afford a data breach. An IBM report reveals that the average cost for a data breach is around USD 3.86 million. That is why many companies, especially the smaller ones, don’t recover from cyberattacks. 

Furthermore, the number mentioned above is expected to double by 2021. The number of cyberattacks has also rapidly increased as the COVID-19 pandemic has increased our reliance on technology. 

Businesses are now willing to invest and hire cybersecurity experts, knowing how big the stakes are.

Nearly all financial transactions are now online

Bank robbers used to rob banks because that’s where the money was. However, times have changed. The bulk of the money is now in the data system, making it the new target. The security of the physical location of banks has grown stronger with security cameras everywhere and the amount of actual cash is limited. 

Financial networks need cybersecurity protection 24 hours a day, 7 days a week, and 365 days a year. 

We still rely on outdated and insecure technology

Unfortunately, there is still outdated, legacy software all around us. Hackers commonly use such old software as entry points in carrying out data breaches. 

It is not possible to get rid of legacy software overnight. Moreover, much of it can’t be upgraded, or we simply don’t take the time to do it. All of this old software contains security flaws, and it’s not the best to keep it since they no longer receive security updates. 

We see legacy software everywhere such as in power plants and air traffic control. These things all work well and are stable, but they are a way for hackers to attack.

The government is now requiring companies to protect data

Security regulations have been existing for quite some time now. However, the government is increasingly imposing security regulations. These require organizations to protect data and meet cybersecurity standards. 

Non-compliance may result in financial and reputational damages. This is why the need for cybersecurity professionals rapidly grows to help these companies remain compliant. 

What does this mean for cybersecurity jobs?

All of the reasons mentioned above translate into job opportunities. The cybersecurity unemployment rate is zero. This means that anyone with the necessary skills can land a cybersecurity job.

The training path usually lasts within three to five years, and possibly as short as two years in some cases. As mentioned, you’ll only land a job in the field if you the necessary skills – and if you will continuously update them.