The global cyber security market size stood at USD 131.3 Billion in 2018 is projected to reach USD 289.8 Billion by 2026, exhibiting a CAGR of 10.6% during the forecast period. Over the years, ensuring cyber security has always been a challenge for businesses or organizations across the globe. As this is the golden era of digital transformation, cyber-attacks evolve every day as attackers become more inventive. Interconnection of several sectors, expansion of exposure points and concentration of assets are some of the prevailing trends that are exposing the critical infrastructure to increased risks. However, it becomes difficult to accurately define cybersecurity solutions and identify good cybersecurity. Cyber security refers to a broad range of technologies, processes, and practices designed to protect computer networks, devices, and programs from cyber-attacks, unauthorized access, and data damages.
The Internet of Things may be in its infancy, but the U.S. government has been gearing up to determine what the proper federal role should be, both for encouraging and for regulating the use of IoT technology. Two recent developments have underscored the government's interest in IoT. On the regulatory front, the Consumer Product Safety Commission has launched an initiative to determine a framework for regulation related to IoT. The agency finished taking comments from IT providers, other affected businesses and the public last month. The comment period followed a public hearing this spring, during which major interested parties presented their views on potential IoT regulation.
Cyber criminals are only scratching the surface when it comes to exploiting vulnerabilities in routers to conduct hacking campaigns – and the worst is yet to come, with attackers set to use compromised devices for a wider variety of malicious activities. So great was the risk of one particular campaign - VPNFilter, a malware suspected to be the work of Russian state-sponsored hacking and cyber espionage group Fancy Bear – that the FBI issued a warning to businesses and households to immediately reboot routers to counter the threat. However, it's likely that many didn't heed this warning and that many home and office routers are still highly vulnerable to attack – figures in Avast's Threat Landscape Report for 2019 suggest that 60 percent of users have never updated their routers firmware, leaving them open to attacks primed to exploit simple vulnerabilities. With a significant number of routers ultimately forgotten about after being initially set up – unless the internet connection goes down - those who fall victim to router-based malware attacks might never realise their device has been compromised. In many cases, poor device security such as weak passwords can allow attackers to gain access to the device with minimal effort be it via brute-forcing passwords, or the use of simple malware.
As we all know that technology, over the past few decades, has been an integral part of any workplace. As a part of living, the digital era is now understanding that our private information is more revered than ever before. As you must be aware of the news stories about data breaches and the ID theft abound, the effects are being felt across the globe by millions of consumers. In 2018, as per the reports and analysis, approximately 945 data breaches lead to 5 billion records which were being compromised by the unauthorized users. Anything that relies on the internet for communication or is connected with different smart devices can be insecure by the breach.
That's what some experts are warning in the wake of a massive cyberattack Friday that used compromised Internet-connected devices like security cameras to disrupt many popular web sites. "These attacks are not going away," said Ben Herzberg, security group research manager with cybersecurity company Imperva. The big problem is that too many of those connected products come with lax security features that make them juicy targets for hackers, according to Herzberg. For instance, cheap Internet of Things devices are often secured with default passwords and may lack support for security updates. And the rapid expansion of the Internet of Things market means even more vulnerable devices are likely to be in use soon: By 2020, there will be over 20 billion Internet of Things devices online, according to one estimate from analysis firm Gartner.