Whilst cyber attacks continue to make the news, a new report published by Capital News Desk suggests that around 70 percent of organizations choose to keep their security incidents quiet.
It also reveals that around 73 percent of large organizations have been infiltrated by attacks. It’s newer technologies like BYOD and the cloud that are seen as the biggest threats along with cyber crime.
In an effort to combat these attacks worldwide information security spending is expected to reach $94.8 billion by the end of this year. By 2019 the cyber security sector is forecast to be worth $155 billion.
The US government has budgeted $14 billion for cyber security in 2016 with the Pentagon alone requesting $5.5 billion for cyber defense. This boom in security is good for investors though and has led to venture capitalists seeking out companies in the sector.
More detail is available in an infographic reproduced below.
Source: Beta News