In 2006, there were a mere two billion connected devices worldwide. By 2020, that number is projected to top 200 billion, according to Intel. That’s more than 25 devices for every person on Earth based on population forecasts. Cisco is more conservative, pegging the number at closer to 50 billion, which is still staggering.
As a result of the rapidly expanding number of potential entry points for attackers, Juniper Research expects the cost of cybercrime to businesses will reach $2 trillion globally by 2019. At the same time, total cyber security spending from 2017 to 2021 is forecast to top $1 trillion, according to Cybersecurity Ventures. Yes, that’s trillion — with a T.