By 2027, the cyber security market is expected to reach nearly $350 billion

Cyber security is one of the most important services which every company needs. These services combined with a good set of brains can tweak up a company’s firewall and can take their level of security to the very next level.

Being a cyber-security expert can turn out to be really great, because at the moment the market of cyber security is on the rise. With new technologies and new users always coming up on the internet, these security services ensure that companies and even people have their security settings up to date or else their data might be in danger.

According to AstuteAnalytica's report, the cyber security market is projected to go up really fast. As we are seeing that there are many new websites and technologies coming into the market, they need to be properly optimized in order to prove their users with the best of security mechanisms. It is reported that by the end of 2027, the cyber security market is set to go up to $346 billion.

One of the main reasons that cyber security has gone up is the fact that Covid has brought many new users into the arena, as people are now isolated and are working from their homes, this has raised a few concerns for companies. The companies say that they have secured their office based servers but their employees who are working from their homes can prove to be a liability in terms of security.

According to one of Interpol’s private sector partners, there have been around 907,000 spam messages, around 737 incidents which were reported to be malicious malwares and around 48,000 malicious URLs related to Covid. All of these were seen to surface around January to April 2020.

As these numbers are rising, the importance of cyber security has started to rise as well. Nowadays, a good cyber security expert earns easily around $125,000 which is really good. Security attacks are on a rise as more and more people are getting used to using the internet. Attackers know that people are getting dependent on these technologies which they are using to their advantage.

Credit card thefts, personal data leakage, sensitive data thefts are all kinds of active and passive attacks which are used by these attackers. It is the responsibility of cyber security experts to equip their clients with the best set of firewalls so that they don’t have to worry about these attacks.

By the end of 2019, it was seen that around 50% of the world was using the internet, which had a ratio of 69% of people aged from (15-24). This number is growing continuously and at the moment, the cyber security industry’s worth is held at 162.9 Billion which would grow up to $346 billion, making it grow 2.4 times in the next 6 years.

We hope that as Metaverse and AR are coming closer to their launch; we will see a pause in these attacks, because if people feel unsafe in these platforms, they will never invest their money in it.

Read next: 40 percent emails constitute a threat; says a report by Hornetsecurity
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