Cybercrime to cost $6 trillion annually by 2021 reveals Cybersecurity Ventures 2017 Report

Cybersecurity Ventures publishes excellent content and is one of the leading authorities on the cybersecurity market.  I find value in the site to keep up to date on the industry and recommend cybersecurity vendor clients check them out as well.

Here is an overview.

Cybersecurity Ventures covers the business of cybersecurity, including market sizing and industry forecasts from consolidated research by IT analyst firms, emerging trends, cybercrime, employment, the federal sector, notable M&A, venture capital and corporate investments, IP activity, and more.

They deliver a quarterly report which includes a short video presented by renowned cyber security expert, Scott Schober.  Follow this link to check out the Q1 2017 Report or watch the video below.

Some staggering stats they share…

  • Cybersecurity Ventures predicts global spending on cybersecurity products and services will exceed $1 trillion cumulatively over the next five years, from 2017 to 2021
  • In 2004, the global cybersecurity market was worth $3.5 billion – and in 2017 they expect it to be worth more than $120 billion.  The cybersecurity market grew by roughly 35X over 13 years
  • Cybersecurity Ventures anticipates 12 – 15 percent year over year cybersecurity market growth through 2021, compared to the 8 – 10 percent projected over the next five years by several industry analysts
  • As the total universe of passwords will likely grow to 300 billion by 2020, organizations across the world face an enormously growing cybersecurity risk from hacked or compromised user and privileged accounts.

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