What are the top 5 cyber security facts and trends to watch in 2020?

How can cybersecurity threats impact on your business? So many questions? Here in this article, you will get all your answers.

Over the last few years, the number of the risk and severity of cyber-attacks has risen. With technology on the rise, people have been facing the most horrific cases of cybercrimes in almost every sector, such as data breaches, crypto-jacking, flaws in microchips, and many others. People now more realizing the importance of data protection than ever before. According to the prediction of Cybersecurity ventures, cybercrime damages are projected to hit $6 trillion annually by 2021.

According to the report by Threat Horizon, in the coming years, the organization will face cyber threats under three key themes – Disruption, Distortion, and Deterioration.

Top statistics of cybersecurity

According to the report, worldwide spending on cybersecurity is supposed to reach $133.7 billion by the year 2022.

• As of 2019, the average cost of a data breach is approximately $3.92 million.
• About 70% of organizations believe their anti-virus software can block the threat.
• In 2019, the estimated losses faced by the healthcare industry are $25 billion.
• Security services are anticipated to account for 50% of the cybersecurity budget by 2020.
• Cyber-attacks most expensive component is information loss at $5.9 million.

Here, in this article, we will discuss some of the cybersecurity statistics and facts for 2020 that you can expect to see.

Top 5 cybersecurity facts and trends for 2020

Let’s take a quick look at the top 5 cybersecurity facts and trends for 2020:

* Phishing or social engineering attacks is growing

In 2018, humankind already witnessed an enormous amount of attacks on all kinds of targets. The phishing attack is the most common type of social engineering attack that is often used to steal users’ credentials and identities, eliciting fraudulent payments, distributing malware, and so on. According to the report by small business trends, it is revealed that ‘1 in every 99 emails is a phishing attack. And the ratio is supposed to increase even more in the coming years. To prevent attackers from stealing confidential data and information, it is necessary to give cybersecurity training to the employees and business partners. And also, in-depth security and vulnerability management is required.

* In every 40 seconds, a hacking attempt is recorded

The president and CEO of IBM said: “Cybercrime is the greatest threat to every company in the world.”- According to the study, it is revealed that a hacking attempt is recorded every 39 seconds on average. That means it affects one in three Americans every year.

Hence, try to use robust and secured usernames and passwords so that hackers can get fewer chances of success in their hacking attempts.

In 2020, we can see a spike in the hacking attempts because of these work from home situations. We know that all people may not have the same level of control over their networks.

* 43% of all cyber-attacks are directed towards small businesses

According to the recent Verizon data breach report, approximately 43% of cyber-attacks are made against small businesses as they don’t invest much in cybersecurity. However, larger companies are dedicating more resources to and becoming savvier about cybersecurity. As a result, cybercriminal attack more to smaller firms. Well, companies can take some security steps like data encryption, and active monitoring may help to detect potential threats.

* Using data to detect and prevent a cyber-attack

The use of data analysis to prevent cyberattacks is another cybersecurity trend that we may witness in 2020. With the help of artificial intelligence technology, machines can be programmed to detect unusual behavior within a company’s network. Using AI technology, companies can predict and react to appearing cyber threats quicker and more effectively. Use data from past cyber-attacks and threats, learn from the data, and identify and respond to similar data breaches and hacking threats earlier and faster.

* Connected devices is projected to 200 billion by 2020

The risk is associated with IoT and its growing at an alarming rate. Many IoT platforms have little to no security. It is anticipated that the number of connected things will grow in 2020. Cybercriminals see that as an opportunity. Cybersecurity requires comprehensive coverage — to help protect your personal information, devices, privacy, and home. According to a recent Symantec Internet Security Threat Report, there are 25 connected devices per 100 residents in the US.

Conclusion

The above-listed cybersecurity statistics, facts, and trends reveal a massive rise in breached and hacked data from sources that are increasingly common in the workplace related to mobile and IoT devices. Therefore, it’s a wakeup call for all those businesses that rely on storing sensitive information online. After reading the whole blog, you can imagine how devastated cyber-attacks and data breaches can be; we hope that everyone starts keeping an eye out to their online security.

As you can see, we’re well versed in questions of mobile security, and we are ready to apply our knowledge when working on your mobile app development project. We offer the best mobile app solution by securing your application and other digital communication channels.

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