02 November 2023

The new ‘Cybersecurity Market Report 2023-2033,’ co-sponsored by the Cybersecurity and Infrastructure Agency (CISA) and the National Cybersecurity Alliance, has revealed that a staggering 90% of successful cyber-attacks commence with a mere phishing email.

The findings have highlighted that some 74% of breaches include a human element, encapsulating aspects like social engineering, errors, and misuse. Now more than ever, it’s vital for businesses, entrepreneurs, and managers to be acutely aware of the digital landscape and threats that permeate it.

The world is becoming increasingly digitised, and with that transformation comes expanded cyber threats. In 2023, the global revenue for the Cyber Security Market is forecasted to exceed US$200.6 billion, with projections indicating significant growth up until 2033. Small businesses, often operating on tighter budgets, face the predicament of either allocating resources to cybersecurity or other essential operational requisites.