Every day it seems another news breaks about cyber-criminals hacking in and stealing information. Private companies, government agencies, movie studios, political organizations, hospitals…no one is immune.
These types of stories are an example of why the cybersecurity market has become incredibly lucrative. It’s expected to be worth $120 billion in 2017, according to the Cybersecurity Market Report by Cybersecurity Ventures. That same report estimates that a stunning $1 trillion will be spent globally on cybersecurity from 2017 to 2021.
Yet, the Ponemon Institute found that the likelihood of a material data breach involving 10,000 lost or stolen records in the next 24 months is 26 percent. The same study finds the average cost incurred for each lost or stolen record at $158.
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