Sunday, October 2, 2022

Global cyber security spending to touch $460 billion by 2025: Kaspersky - BusinessLine

Last updated Tuesday, August 30, 2022 08:43 ET , Source: TopWireNews

Global cyber security spending has been growing at an average of 15 per cent in the last few years and the annual spending is projected to reach nearly $460 billion by 2025, taking the cumulative spending in five years from 2021 to a staggering $1.5 trillion (1 trillion ~ 1 lakh crore).
According to Kaspersky, a global cybersecurity and digital privacy company, cyber security spending in 2021 was pegged at $262.4 billion, while it is projected to cross the $300-billion mark in the current year.
“It is projected that cybersecurity spending globally is set to balloon to $460 billion in the coming years, almost double the 2021 cumulative expenditures and almost as big as the current total GDP (gross domestic product) of Thailand, for example,” said Vitaly Kamluk, Director of the Global Research & Analysis Team (GReAT) for Asia Pacific (APAC) at Kaspersky.
Speaking at Kaspersky’s annual Cybersecurity Weekend in the city, Kamluk further said that the current landscape can take this projection up a few notches.
Giving details on risks in the current cyber defense environment, Kamluk said that Kaspersky has detected and blocked over 7.2 billion attacks by malicious objects, including malware and malicious web content worldwide, between July 2021 and August 2022.
Notably, one in every three (nearly 35 per cent) malicious objects detected by Kaspersky globally were targeting users from the APAC region, with India, Japan, Vietnam, China, and Indonesia being the top five...

Read Full Story: https://www.thehindubusinessline.com/info-tech/global-cyber-security-spending-to-touch-460-billion-by-2025-kaspersky/article65829545.ece

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