Worldwide cybersecurity market grew from $3.5 billion in 2004 to $75 billion in 2015, forecasted to reach $170 billion by 2020.
The global cybersecurity market has grown approximately 35 times over the past 13 years. It is predicted to continue growing over the time to come and reach a staggering $170 billion by 2020.“Cybersecurity is the fastest growing tech sector. One of the main reasons for this is that all other sectors are fighting inefficiencies and striving for optimisation of everything whereas cybersecurity is driven mainly by cybercrime. We are all living in the age of never before seen cybercriminal activity, so large in fact that it is nearly impossible to accurately track.
The United States is increasing it spending on cybersecurity from $14 billion in 2016 to $19 billion in 2017 which is over 35%
It’s definitely an indication of the fact that the times are only going to get rougher in terms of keeping the “bad boys” out and information safe. It is anticipated that businesses of all sizes and governments from all around the globe will double down on cybersecurity.
Why healthcare data is in great demand:
Long lifetime value of stolen medical records.
The price for Electronic health records sell per chart on the black market can reach $50 significantly more than $1 for social security or a credit card number
You can call medical record a one-stop shop for hackers as they contain all the relevant and necessary information that can be then sold
The MedTech industry is lagging behind the other trendsetting Tech. Its security is weaker and thus significantly more vulnerability.