Cybersecurity spending to reach $134 bn

Cybersecurity for CSOsSpending on cybersecurity solutions will grow 33 percent over the next 4 years to $134 billion annually by 2022, according to a Juniper Research report released.

The report said nearly 70 percent of 2022 spend would originate from medium-sized businesses.

The cumulative cost of data breaches between 2017 and 2022 will reach $8 trillion, with variable per-business losses depending on the nature and scale of the attack. Shipping company Maersk, for example, estimated the cost of NotPetya infecting its global network in 2017 at between $200 and $300 million.

Research author Steffen Sorrell said: “Once a single endpoint is breached, the big danger is lateral movement across the network. Layered networks, proper lifecycle management and user ‘least privilege’ approaches will prove key to containing serious breaches.”