Most Americans worry about falling victim to cybercrime
When asked in a 2020 survey to name crimes they were most afraid of, the majority of American respondents claimed to be more worried about cybercrimes than having their home broken into or car stolen. The top two concerns were having personal financial information stolen by hackers, and being the victim of identity theft. This is unsurprising, considering the rise in data breaches and exposed records over the past decade. In the United States alone, 1.6 billion data breaches were reported in 2017 - the highest figure to date. It is likely that this figure was somewhat impacted by the infamous Yahoo! data breach scandal that year, where 3 billion user accounts worldwide were compromised. This has been recognized as one of the largest breaches of its kind in history.
IT security market on the rise
As a direct result of increasing security demands and rising concerns, more companies than ever before are investing in cyber security, both in the form of services and technology. The information security technology market is booming, and as a result worldwide spend is predicted to hit nearly 175 billion U.S. dollars by 2024, a 50 billion dollar increase from one year prior.