A new report by Juniper Research predicts that over 33 billion records will be stolen by cyber criminals in 2023, an increase of 175% over the 12 billion records expected to be stolen this year alone. That brings the expected total over the next 5 years to a whopping 146 billion.
The report covered cybersecurity trends over 9 countries including the UK, China, Russia and US, where the US will become a more prominent target over the next 5 years.
In 2018, only 13% of cybersecurity spending will be made by small businesses, despite over 99% of all companies falling under the small businesses category.
Many of these companies use consumer-grade products, spending on average less than $500 per year on cybersecurity. This leaves them vulnerable to newer forms of malware, which require more advanced cybersecurity, beyond simple endpoint protection.
To combat newer threats, cybersecurity countermeasures need to evolve to take advantage of emerging technologies like artificial intelligence.