Cybersecurity is a method of protecting computers, servers, mobile devices, electronic systems, networks, and information from malicious attacks.
Also called I.T. security or e-security, it is the protection of data. This term has different concepts from business to mobile and is breakdown into common categories:
- A network’s security is one’s ability to deter attackers from gaining access, whether targeted or opportunistic malware.
- Application security consists of preventing threats from entering software and devices. A compromised application could gain access to data it’s intended to protect. The design of a security program or device should begin long before the release of the product.
- Information security involves the protection of data integrity and privacy – both during storage and during transmission.
- Operations security is concerned with how data assets are handled and protected. It is the end-to-end process for determining how and where data may be stored or shared, particularly when defining what permissions users have when accessing a network.
- Business continuity and disaster recovery explain how an organization responds to cyber-security breaches or other events that result in data loss or operations disruption. The disaster recovery policies of the organization dictate how operations and information will return so that the organization can operate normally again. While operating without certain resources, the organization falls back on business continuity.
- The most unpredictable factor in cyber-security is people, which can often be overcome through end-user education. Can accidentally introduce the virus into a secure system if good security practices do not exist. Teaching users to delete suspicious email attachments, not plug in unidentified USB drives, and other important lessons are vital for any organization’s security.
Cyber Threat Types
Cyber-security aims to combat three different threats:
The term ‘cybercrime’ refers to criminal acts committed on or through a computer, a networked device, or a computer system. Generally speaking, the vast majority, but not all, of cybercrime, indeed occurs by criminals or hackers that wish to earn money. Viruses or malware are transmitted by cybercriminals or by organizations.
The majority of cybercriminals employ modern techniques and possess high levels of technical skill. Another group of hackers is novices. The aim of cybercriminal activity is rarely to damage computers other than for profit. It could be a personal or a political issue.
Cyberattack refers to a cybercriminal attacking a computer or network with one or more computers or computers. Attacks using cyber technology can disable computers, steal data, or launch other attacks from compromised computers.
Cybercriminals are also known to use ransomware, phishing, and denial of service attacks to launch cyberattacks.
A cyberterrorism attack involves violence and deliberate attacks against information systems, programs, and data. Some organizations see cyberterrorism differently depending on which details are concerned, both of the parties involved.
As defined by the Federal Bureau of Investigation (FBI), cyberterrorism constitutes any premeditated, politically motivated attack on information, computer systems, computer programs, or data that results in violence against non-combatants by subnational groups or clandestine agents.
Threats to Cyber-Security:
Threats of malware: Malware refers to malicious software. Malware is a form of software created by cybercriminals or hackers to damage or disrupt legitimate computer users. It is usually distributed by email attachments or legitimate-looking downloads to be installed by cybercriminals for monetary gain or political attacks.
There are several types of Malware:
- Computer virus: A software program that infects files with malicious code by modifying clean files.
- The Trojan Horse: It is a type of malware that impersonates legitimate software. In order to collect data or cause damage, cybercriminals trick users into downloading Trojans onto their computers.
- Spyware: The purpose is to gather information about what a user does secretly so cybercriminals can use it. As an example, spyware could collect credit card information.
- The ransomware: It is malware that locks down a user’s data and files, threatening to erase them if the ransom does not get paid.
- Adware: It is advertising software that spreads malware via email or other forms of internet communication.
Injection of SQL: An SQL injection (structured language query) is a cyber-attack that uses a database to take control and steal data. An attacker uses a malicious SQL statement to inject malicious code into a database using a vulnerability in data-driven applications. As a result, they have access to sensitive information in the database.
Cyber-Phishing Threat: Cybercriminals use phishing emails to trick victims into giving out sensitive information by posing as a legit company. People often fall victim to phishing attacks that trick them into giving out their credit card and personal information through phishing attacks.
A Man-in-the-middle attack: In this cybercrime, a cybercriminal intercepts communication between two people in an attempt to steal data. For example, a vulnerable WiFi network will allow an attacker to intercept data passing between the victim’s device and the network.
Denial-of-service attack threat: A denial-of-service attack occurs when cyber criminals overwhelm networks and servers with traffic to prevent legitimate requests from being fulfilled. Thus, an organization is unable to perform critical functions as a result of this.
Global Cybersecurity Market:
In 2020, the global cybersecurity market was worth USD 167.13 billion, and it is forecast to grow at a CAGR of 10% over the next eight years. The growing sophistication of cyberattacks may be responsible for the growth of the market.
As a result of the increased frequency and severity of cybercrimes over the last decade, businesses have suffered significant losses. Due to rising cybercrimes, companies worldwide have invested in advanced technologies to boost their security stacks.
In addition, the need for governments globally to reform their cybersecurity strategies has created a pool of opportunities for industry participants through the increased defense of critical infrastructure against Advanced Persistent Threats (APTs).
The cyber threat landscape has changed dramatically over recent years, which has increased the importance of cyber defense against online threats. A vast amount of data is increasingly critical to organizations with the emergence of the Internet of Things (IoT).
As a result of internal and external information sharing, hackers and cybercriminals have gained access to networks. Therefore, organizations must have cyber defenses.
Moreover, a rapid rise in cyber threats, frauds, vulnerabilities, and risks have forced companies to modify their strategic measures to combat them, resulting in market growth.
There have been several incidences and cases of cybercrime across several industries since the Covid-19 pandemic. With malicious domain names registered as Covid-19 or Coronavirus, cybercriminal actors who follow cybercrime as a service increasingly target every demographic searching for information related to Covid-19.
According to Palo Alto Networks, 40,261 suspicious domain name registrations were detected by the end of March 2020. Further, cybercriminals are also increasingly using the same business email addresses for their attacks.
As organizations have become more concerned about cyber threats, they have adopted solutions and designed strategies for securing, detecting, and managing malware, enhancing market growth. In addition, the move toward a remote working model has increased cyber threats across organizations.
Featured Companies of Global Cybersecurity Market:
These are a few of the prominent cybersecurity companies:
- Cisco Systems, Inc.
- Check Point Software Technology Ltd.
- McAfee, LLC
- Trend Micro Incorporated
- Broadcom (Symantec Corporation)
- Palo Alto Networks, Inc.
Overview of Regional Trends
In 2020, the North American market held a revenue share of more than 35%. The market will continue to expand at a steady CAGR from 2021 to 2028 due to prominent security vendors with U.S. global and regional headquarters.
Furthermore, the region’s large enterprises and SMEs will likely be the main buyers of security solutions and services. Additionally, the expansion of regional markets can be attributed to the increasing standards of privacy and security.
Over the forecast period, Asia Pacific is likely to grow the fastest. Enterprises in telecom, energy, finance, and technology often fall victim to advanced persistent threat actors in the region. The majority of attacks occur in Southeast Asian countries.
As part of future cyber defense preparedness, governments and enterprises construct cyber defense strategies. Among the initiatives are strengthening critical infrastructures and developing an ecosystem of skilled cyber defenders.
With more focus on securing IT networks, critical infrastructures, and endpoints, the regional market is expected to grow during the forecast period.