Market Overview

Juniper Research: Cybersecurity Breaches to Result in Over 146 Billion Records Being Stolen by 2023

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Number of records breached each year to nearly triple over the next 5
years, while cybersecurity spend will only increase by an average of 9%
per company per annum

A new report by Juniper
Research
found that over 33 billion records will be stolen by
cybercriminals in 2023 alone, an increase of 175% over the 12 billion
records expected to be compromised in 2018, resulting in a cumulative
loss of over 146 billion records for the whole period.

For more insights on the future of cybercrime, download our free
whitepaper: Cybercrime
& the Internet of Threats 2018
.

The new research, The
Future of Cybercrime & Security: Threat Analysis, Impact Assessment &
Leading Vendors 2018-2023
, found that, in spite of legislation like
GDPR and PSD2 mandating strong cybersecurity and authentication measures
to protect personal and financial data, average levels of cybersecurity
spend will remain relatively static.

Small Business Continues to be Vulnerable

Spend by small businesses in 2018 will only make up 13% of the overall
cybersecurity market in 2018, despite over 99% of all companies being
small businesses. In addition, the cost of breaches can exceed millions
of dollars, dwarfing the turnover of such businesses.

Many of these companies use consumer-grade products, spending on average
under $500 per year on cybersecurity. With many such businesses
digitising, this will leave them vulnerable to newer forms of malware
which require more advanced cybersecurity, beyond simple endpoint
protection.

"Juniper's strategic analysis of 48 leading cybersecurity companies
shows that AI and predictive analytics are now table stakes for this
market",
remarked research author James Moar. "These technologies
need to be made available to all businesses, regardless of size".

Threats Coalesce in the US

Additionally, the research found that the US will become a more
prominent target over the next 5 years. Juniper expects over half of all
data breaches globally to occur in the US by 2023. This is because the
country has much national and international consumer and corporate data
in a disparate range of institutions and regulations; making it easier
to find and exploit systemic weaknesses.

Juniper Research provides research and analytical services to the global
hi-tech communications sector, providing consultancy, analyst reports
and industry commentary.

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