Protecting IT infrastructure is becoming increasingly important
Cyber-attacks are becoming ever more sophisticated and complex, always aiming to go unnoticed by their victims. As providers of security solutions are benefiting from this development, cybersecurity is going to continue to gain importance in the future.
Despite the protection of IT infrastructure, hackers are always find ways to access sensitive data and online accounts. Often, hacked users will not notice the attack at all, or perhaps only months later. This allows hackers to make use of so-called "cryptojacking", i.e. the use of the computing power of another computer to mine cryptocurrencies for the attacker.
Using artificial intelligence and machine learning
Artificial intelligence (AI) could help provide greater cybersecurity. However, we anticipate that AI will initially enable even more devastating cyber-attacks when malware programs, beginning as a standard attack, are then able to tailor their approach based on the vulnerabilities found in their target. To defend against these ever more sophisticated attacks, the defensive systems deployed must become smarter as well. This is where AI comes in. The companies that are taking full advantage of AI and machine learning are those that already have access to large amounts of data that they can use to train their systems.
Cybersecurity providers are profiting from data protection
Europe’s new General Data Protection Regulation (GDPR) is intended to protect the personal data of users within the European Union. Data protection providers are also benefiting from this reform. As this regulation will be valid for a long time, it favors well-positioned providers that offer broad-based solutions for direct compliance with the regulation. These include protection against insider threats or identity management offerings. What’s more, cybersecurity companies usually issue multi-year licenses, which guarantees them years of stable cash flow.
Spending levels shouldn’t decline
According to a study conducted by the US investment bank Jefferies, many companies continue to use traditional endpoints (e.g. antivirus programs) combined with advanced, next-generation threat-prevention technologies. This is important, as businesses today need to secure multiple points of attack.
Forecasts indicate that investments in this area will continue to increase. They project that IT security spending will grow to over USD 124 billion in 2019. This represents impressive growth of 8.7 percent compared to 2018. Looking ahead into the near future, we certainly do not expect the importance of cybersecurity to diminish.
Sources: Jefferies, Gartner
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