Cyber Threats on the rise Worldwide
Cybersecurity
Global Cybersecurity Market Evolution
Cybersecurity
Picture of the current global Cybersecurity landscape
Wherever we look to get an updated idea of the current situation at the Cybersecurity level, we find alarming statistics and predictions.
Here is, in a nutshell, what specialized market research firms are saying:
- According to Mordor Intelligence :
The cybersecurity market was valued at USD 156.24 billion in 2020, and it is expected to reach USD 352.25 billion by 2026, registering a CAGR of 14.5% during 2021-2026.
- According to Research and Markets :
The Global Cybersecurity Market size was estimated at USD 168.78 billion in 2020, is expected to reach USD 186.61 billion in 2021, and projected to grow at a CAGR of 10.90% reaching USD 314.06 billion by 2026.
The list of examples could go on, but whatever the source we look at, even considering rough numbers without debating how and where they were obtained, the bottom line conclusion is the same : The Cybersecurity world is exploding !
Confidentiality - Integrity - Availability
Cybersecurity Triad - CIA
What are the goals of Security in IT ?
Let’s face it, we all know that nothing is perfect. The same goes with Cybersecurity, and that is the reason why it’s objective is to manage and reduce risk, around Confidentiality, Integrity and Availability.
In a perfect world, we could talk about complete risk elimination, but the reality is that we can only and realistically desire to reduce Cybersecurity risks. At the same time that we are putting more efficient measures in place, hackers are finding new ways to break into systems, steal information or even disrupt services…. It is a never ending story!
At the end of the day, the Cybersecurity risk reduction will depend on limiting boundaries, such as: time, costs, means, resources, knowledge, etc…
How to fight cybercrimes?
Strengthen Security Teams
Depending on their size, budget, maturity and other variables, companies will handle security matters one way or another.
Bigger companies, like banks, insurance companies, or international corporations, will “normally” be better prepared to that regard. They will have specialized Security departments, that will further be composed of Red Teams, Blue Teams, or Security Operation Centers (SOC), etc…. They might also rely on external Specialized Security Firms.
As for smaller companies, depending on their maturity, their security awareness and their more limited budgets, things can quickly be a lot more complicated.
So if cybercrimes are on the rise, and companies are becoming more and more sensitive to that new reality, they might want to either hire new cybersecurity specialists, train their own teams, and/or contract external consultant firms.
The Problem
Cybersecurity Shortage
The problem, as we can see globally right now, is that it has become extremely difficult to find adequate resources to cover the current needs.
Companies would like to hire cybersecurity specialists, but they find themselves hitting their nose on the wall, because of the huge shortage in that sector right now!
They may then think they could rely on specialized consultant firms, but these specialized firms are in the same boat and face the same scarcity challenge.
So, then, the first thing a company has to do, in such a chaotic situation, is to make sure to find someone to look after its Security Matters, internally.
So then, the big questions that companies should ask themselves:
- Who can be in charge of our IT department?
- Are we safe?
- Do we have solid Business Continuity and Disaster Recovery Plans in place?
- Are our employees putting our business at risk when working remotely from home?
- Do we have the right policies in place to make sure at least the basic security recommendations are followed to avoid being compromised?
My ultimate goal
Leading Cybersecurity Matters
Security Orchestra
Wanting to capitalize on the experience, skills and knowledge acquired in recent years, my wish now would be to find a place where I can assume the role of Orchestra Conductor, and thus be able to continue to evolve, personally and professionally, and in synergy, in a long-term business project.
Cybersecurity is at the forefront for me. It is an exciting and necessary subject, for the good of all.
Thank you for reading, and feel free to contact me at contact@sbeauchemin.com, it will be a pleasure.
See you soon,
Sylvain Beauchemin