Risk Awareness Is Driving Cybersecurity Spending, Study Finds
The annual cost of cybercrime on businesses is estimated at $445 billion globally, according to a study conducted by the Center for Strategic and International Studies (CSIS), a Washington D.C.-based think tank. The study, commissioned by Intel Security (formerly McAfee), found that increased spending on network defenses and data protection reduces innovation and hiring at organizations, two significant ingredients in a healthy economy. The report highlighted data projections from research firm IDC, which identified a steep rise in cybersecurity spending over the past three years. The following 10 high-growth information security markets reflect businesses' growing interest in taking measures to defend against intellectual property theft and threats to sensitive customer data.