Page 6 - AeM_Mar_2018

RESEARCH, ANALYSIS & TRENDS

Digital Transformation and IoT will drive

cybersecurity spend to $134 billion

annually by 2022

Juniper’s new research, Cybersecurity: Mitigation would be forced to restructure their networks to avoid
Strategies for Financial Services, Operators, Enterprise potential compliance breaches, data theft or service
& IoT 2018-2022 found that nearly 70% of 2022 spend outage.
would originate from medium-sized businesses, as
cybercriminals target ‘low-hanging fruit’. Research author Steffen Sorrell explains: “Once a
single endpoint is breached, the big danger is lateral
In the context of strategies for financial services, mobile movement across the network. Layered networks,
operators, enterprise and IoT service providers, the proper lifecycle management and user ‘least privilege’
research highlighted that stakeholders’ digital trans- approaches will prove key to containing serious
formation and IoT endeavors were key catalysts for breaches.”
increasing spend to defend assets from threats.
Security through flexibility
According to the research firm, global business spend
on cybersecurity solutions will grow by 33% over the Furthermore, the research found that securing the IoT,
next 4 years reaching $134 billion annually by 2022. with 46 billion connected units anticipated in 2021,
would require more forward-thinking. With devices ‘in
Cyberattacks: Not if, but when the field’ for years at a time, adopting a cybersecurity
strategy that is flexible enough to react to future
, Juniper anticipates that the cumulative cost of data demands would be essential, which highlights the fact
breaches between 2017 and 2022 will reach $8 trillion, that cybercriminals’ efforts soon render modern
with variable per-business losses depending on the approaches less effective: For example, the Cerber
nature and scale of the attack. Shipping company family of ransomware has analyzed how machine
Maersk, for example, estimated the cost of NotPetya learning systems detect malware behavior and applied
infecting its global network in 2017 at between $200 and evasion techniques as a result.
$300 million.
For more market insights, download Juniper
As a result, Juniper argues, stakeholders must plan in Research’s free whitepaper: Cybersecurity ~ How can
terms of risk mitigation rather than prevention, and service providers save the bottom line? ◊
predicts that service providers in high-risk environments
By MediaBUZZ

6 March 2018 - Internet of Things (IoT) and Integrated Marketing