Latest reports suggest a surge in cybersecurity revenue, as the focus gets shifted to similar legislation and GDPR compliance. Cybersecurity investment would be at its highest by the year 2023, rising faster than the total IT budgets over the next five years.
A report published by Rethink Technology Research, titled, “Privacy and state espionage tightens focus on security – Cybersecurity spending forecast to 2024,” suggests that the European Union’s General Data Protection Registrar (GDPR) has set the agenda for legislation over protection and data privacy worldwide. It also mentions that the GDPR is helping to achieve this spending spike on security measures that ensures adherence.
Machine learning and Artificial intelligence would allow rogue nation states and cybercriminals to launch highly sophisticated cyberattacks. Attackers will also try to evade surveillance systems and cover their tracks, while they conduct a direct attack on defences. The report also mentions that there will be a growing competition between cybercriminals and those working on cybersecurity in the near future.