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We’re living in an information age where data is the new currency. As the world explores new digital frontiers, the importance of data security is growing exponentially. Digital transformation is helping to make the world a better place, but cyberattacks are an unfortunate part of this reality. These days, the success of any modern business, large or small, depends on the effectiveness of the data security systems it has in place.
The need for robust data security has created gigantic and ever-expanding opportunities for those who can offer much-needed protection against possible cyberattacks.
Why is it a good time to start a cybersecurity business?
Cyber-risk is on the rise, and every possible data point suggests the trend is likely to continue in the future, given the increasing need for multilayered data-sharing across all business types and verticals.
According to Cybersecurity Ventures estimates, the cost of global cybercrime is expected to grow 15% annually over the next five years and reach $10.5 trillion annually by 2025, up from $3 trillion in 2015.
Governments around the world are passing legislation to ensure maximum protection and, in most cases, the liability to protect data remains with the owner. Failure to comply with data-protection rules can result in fines for negligence or theft. European Union administrations have tightened legislation regarding data processing and imposed fines of up to 4% of annual turnover, with a ceiling of 20 million euros.
However you look at it – whether it’s for a network, internet, cloud, web gateway, or end-point security – cybersecurity compliance is an absolute must for every enterprise. It’s not just to avoid penalties. You need to make your system cyber-attack proof to earn and retain the trust of clients and customers. The arrival of disruptive technologies like artificial intelligence (AI), machine learning (ML), the internet of things (IoT), blockchain, and others have opened vast opportunities for…