The global IP geolocation solutions market will reach $4.5 billion by 2027 — it’s projected to expand at a CAGR of 11% from 2019 to 2027. Expansion can be attributed to an increase in data breaches and cyber-attacks, plus the usage of location-based services (LBS).
In 2020, the drive of the Fourth Industrial Revolution towards ubiquitous connectivity and digitalization will continue. But as new connections and technologies support socio-economic progress, cyber-attacks and risks to and stemming from these innovations will increase in frequency and impact.
“The most obvious place the government excels is in the area of encryption. The reason for this is largely due to a mandate from the Homeland Security Department that all U.S. Government sites be encrypted, but the standard should still be the same for any site.”
via Internet Society
Artificial Intelligence (AI) and Machine Learning (ML) have been adopted for their automation benefits, from predictive outcomes to advanced data analytics. AI-based cybersecurity can augment the capabilities of IT staff and help organizations deflect cyber threats, according to Frost & Sullivan.
Organizations have seen security breaches grow by 67% in the past five years. Banking is the most affected, with annual costs crossing $18 million in 2018. This probably comes as no surprise, considering that financial motives are consistently a major incentive for hackers.
The number of ransomware attacks on enterprises is up 500% from this time last year. Threat actors are becoming increasingly sophisticated and targeted. Ransomware is a business, and these actors want to get paid. More retailers need to be prepared.