Cybersecurity Ventures predicts that cybercrime damages will cost the world $10.5 trillion annually by 2025. The basis for this estimate comes from the amount of data generated, stored, and transmitted across the internet and other digital networks, which creates more opportunities for cyber attacks.
Additionally, the global cybersecurity market is set to grow from $167 billion in 2019 to $270 billion by 2026 as organizations invest in cybersecurity solutions and services to protect their assets and data.
Finally, Cybersecurity Ventures notes that there will be a shortage of cybersecurity professionals in the coming years, which will exacerbate the challenge of defending against cyber attacks.
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