Chaos means cash for criminals and cybersecurity companies
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The pandemic not only accelerated a shift to digital, it highlighted a rush of cybercriminal sophistication, collaboration and chaotic responses from virtually every major company on the planet.
The SolarWinds hack exposed digital supply chain weaknesses and appears to have accelerated so-called island-hopping techniques that are exceedingly difficult to detect. Moreover, the will and aggressiveness of well-organized cybercriminals has risen to the point where incident responses are met with counterattacks designed both to punish and to extract money from victims via ransomware and other criminal activities involving a double-extortion maneuver.
One upshot is the cybersecurity market remains one of the most enduring and attractive investment sectors for those who can figure out where the market is headed and which firms are best positioned to capitalize.
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As per the latest report by IMARC Group, titled
“IoT Security Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025”, the global IoT security market size reached US$ 10.2 Billion in 2019. Internet of things (IoT) assists in creating smart communication environments by connecting devices like industrial equipment and consumer objects to a network, gathering information and managing these devices using software to increase efficiency. Some of the key components of IoT are radio frequency identification (RFID), wireless sensor network (WSN), near field communication (NFC), cloud services, gateways, data storage and analytics, and visualization elements. At present, there is a rise in the demand for IoT security as it eradicates vulnerabilities and equips IoT devices with the means to detect, resist and recover from malicious attacks.
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