Security by the Numbers It will surprise no one to read that cybercrime has become big business worldwide. According to the 2019 Annual Cybercrime Report by Cybersecurity Ventures, sponsored by Herjavec Group, the world will lose in excess of $6 trillion annually from cybercrime by 2021, up from $3 trillion in 2015. Worse yet, there’s no reliable indication that this growth rate will plateau, let alone decline, during this time period. Meanwhile, the worldwide spend on cybersecurity products and services continues to grow commensurate with the uptake in attacks. These numbers vary widely among research institutions. Gartner, for example, estimates the current spend at approximately $124 billion, representing a growth rate of nearly nine percent from 2018. IDC forecasts that number at a more conservative $103 billion, though its projected growth rate is somewhat more bullish than Gartner’s. $258.9 billion $116.5 billion estimated value of invested into global cybersecurity market in 2025. cybersecurity in 2018. Source: Allied Market Research Source: Grand View Research According to AVANT’s assessment data, collected from a wide variety of prospects working with AVANT-aligned Trusted Advisors, ransomware, DDoS attacks, intrusion, and email phishing attacks are the threats about which customers are most concerned. Their primary issues with their current security posture focus primarily on their fears regarding emerging threats combined with staffing and resource limitations plus a variety of other challenges, as shown in the table below. Some enterprise customers have already suffered a security breach, feel the need for constant SOC support, or are looking for ways to maintain effective security at lower cost. What are the prime issues with your current solution? (By percentage of 414 respondents) Emerging Threats 45% No 24x7/365 SOC 34.7% Security Breach 33.8% Not Adaptive 27.9% Outdated 22.4% High Cost 21.0% No Intercommunication 17.4% Source: AVANT Assesment Data Copyright © 2020 AVANT Communications, Inc. 7