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Just how fast is the cyber security industry growing?

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The stakes for software security are extremely high, and yet many development teams deal with software security only after the code has been developed and the software is being prepared for delivery. As with any aspect of software quality, to ensure successful implementation, security and privacy issues should be managed throughout the entire software development lifecycle.

Here are some stats that highlight just how fast cyber security is growing:

1. Small businesses are targeted by an estimated 65,000 attempted cyber-attacks every day

Breaches of cyber security costs the average small business £25,700, including costs such as ransom payments and hardware replacements. On top of this, there were indirect financial factors, such as managing damage to reputation and the cost of losing customers.

* hiscox.co.uk

2. The average cost of a data breach has risen to £3.18 million 

https://www.vigilantsoftware.co.uk/blog/average-cost-of-a-data-breach-rises-to-3-18-million
A data breach can have far-reaching consequences, causing financial losses and affecting an organisation’s operations and compliance in the short term. And a major breach in the headlines can potentially damage reputation for years to come, leading to lost business and a competitive disadvantage.

* www.ibm.com

3. Approximately $6 trillion is expected to be spent globally on cybersecurity by 2021

Organisations need to make a fundamental change in their approach to cybersecurity and reprioritize budgets to align with this newly defined reality of our modern society.

* https://www.cybintsolutions.com/

4. Eight in ten businesses say that cyber security is a high priority for their senior management boards

Half of businesses and four in ten charities update their senior management on cyber security at least quarterly. around two-fifths of businesses have board members with a cyber security brief.

* www.gov.uk

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