From: RegTech Analyst
New research reveals that the defence cybersecurity market is set to enjoy a 10.53% compound annual growth rate between 2020 and 2025.
The new research from Mordor Intelligence suggests that the growth of the market will come after a decade where the defence industry has added more technology to its infrastructure and its weapons.
At the same time, bad actors have increasingly been attacking the growing attack surface.
“Attacks on governments, businesses, and individuals have increased at an exponential basis,” the researchers wrote. “Defence infrastructure is fast becoming a target of choice among both individual and state-sponsored cyber-attackers, who now acknowledge the value of disrupting security systems that were previously considered impenetrable.”
A recent report from PwC offered a similar picture, suggesting that cyber criminals have increased their efforts during the pandemic,with web application hack attacks having jumped by 800% in the first six months of 2020 compared to the same period in 2019.
At the same time, the PwC report suggested over half of executives in businesses planned to increase their digital defence budgets.
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