By Kar Cheung
Kar Cheung is the Marketing Manager at ExpressVPN.
The cybersecurity market has grown at an amazing rate over the past decade, and will continue to experience rapid expansion in years to come, according to MarketsandMarkets’ latest report. According to the report, the global cybersecurity market will grow from $95.60 billion in 2014 to $155.74 billion by 2019.
Within an industry known for selling firewalls, intrusion detection systems, antivirus software, encryption and authentication tools, and a whole host of other tools, one thing is for sure: the hackers are — and always will be — one step ahead.
An industry playing catch-up may not be the perfect scenario for organizations looking to secure their digital assets, but it is an enticing one for companies looking to build a business with real potential.
Recent Attacks on Industry and Infrastructure
Recent news has demonstrated that many industries are at risk of attack, from retailers such as Home Depot to banks including J.P. Morgan Chase. We’ve also seen attacks against stalwarts such as the US Department of Defense, as well as academic institutions, gaming companies, healthcare, and telecoms companies (informationisbeautiful.net provides a wonderful graphical representation of all the significant breaches).
Then we have the continued threat, perceived or otherwise, against critical infrastructure including water plants, energy providers, and the transportation system that has recently led the US Federal government to introduce the Critical Infrastructure Cyber Community C³ Voluntary Program via the Department of Homeland Security, which looks to encourage the use of a framework designed to bolster critical infrastructure cybersecurity.
Growth Areas for Cybersecurity
With previously trusted sites such as Tor becoming compromised and apps that may not be as private as they first seem, there are certainly opportunities for those who know how to take advantage of them.
Growth is also likely to come in the area of certificate management, an area often seen as awkward, especially when managed manually. Companies such as Venafi have recognized this and responded with certificate discovery and management tools, but there is still plenty of room for more players in this area.
Another related area to see growth is authentication. If an organization employs encryption and good certificate management processes, its efforts will be in vain if it doesn’t then protect the keys. Keeping keys secure, via two-factor authentication for example, is another area that shows real potential.
Other more established areas of cybersecurity will also continue to expand for the foreseeable future, as the number of companies doing business on the Internet increases. Organizations see the benefits in terms of exposure and cost savings, not to mention the increase in potential customers brought about by increasing adoption of web access across the globe.
The need for firewalls, antivirus products, penetration testing services, patch management, vulnerability management, etc. will continue to grow, and an industry as innovative as information security will undoubtedly create new solutions many of us have not even considered yet.
Another major factor that would suggest continued growth in the sector is the prevalence of data breaches within organizations of all sizes. While the media tends to gloss over the incursions experienced by small and medium-sized enterprises (SMEs), its continued reporting of massive breaches at the likes of Target and eBay show how even the world’s largest organizations desperately need a strong security function, along with increasing budgets to go with it.
Lastly, the Internet of Things (IoT) is upon us. Largely painted by the press as a huge positive for mankind, little is said about the potential drawbacks of having a home filled with interconnected devices that talk to each other and communicate with the Internet and mobile networks in ways already proven to be insecure. It may be a while before the issues surrounding IoT gain the coverage they need, but we’ve already seen fridges, cars, and light bulbs hacked, and I doubt it will be long before enterprising attackers find a way to profit from going after network-enabled household items (TV ransom-ware perhaps?)
Growing Need vs. Death of Cybersecurity Talent
As shown, the need for cybersecurity is solid and, for the time being, only likely to increase.
The opportunities for entrepreneurs or existing businesses are huge and encompass existing technologies all the way through to developing new hardware, apps, or other software, as well as the option to resell existing technology, such as Symantec Endpoint Protection or Microsoft’s Internet Security and Acceleration (ISA) Server.
If you want to enter the realm of cybersecurity in any capacity, there is no better time. A growing range of threats mixed with a dearth of talent presents significant opportunities to those with the vision, talent, and courage to stand up to cyber threats.
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