Cybersecurity, Digital ID & Online Fraud OVERVIEW
Cybersecurity software giant McAfee estimated the global cost of cybercrime to the economy (on a broad basis, including system downtime, reduced efficiency and brand/reputation damage, plus money invested by enterprises and individuals to deter such crimes) at $1+ trillion for 2020, up more than 50% from 2018. Analysts at Gartner estimated the global market for information security and risk management at $133 billion for 2022 and $150 billion for 2021, posting 12.4% growth during this period. One mid-2021 estimate by the U.S. Department of Commerce was that 500,000 unfilled cybersecurity jobs existed in the U.S. alone.
Plunkett Research estimates spending on cybersecurity throughout the U.S. economy at $60+ billion for 2022, on a broad basis, including U.S. Government spending on cybersecurity during fiscal 2022, at $22+ billion. (In addition to U.S. federal initiatives focused specifically on cybersecurity, there are 18 separate federal organizations involved in intelligence—virtually all of which have an interest in cybersecurity, including the FBI and several units within the Defense Department.)
As large as they may be, these numbers fail to emphasize the need by national, state and local governments to improve cybersecurity, especially in the United States, where myriad hacks of files containing sensitive information on U.S. government workers, defense systems, classified scientific and defense research files and other systems show how vulnerable the U.S. is to bad actors based overseas. (Cybercriminals exist everywhere, including in North America and the EU, but the most difficult to deter are thought by some analysts to be in Asia--particularly Africa, North Korea, China, Iran and Russia.)
Major cyberattacks have included the theft of 21 million records of employees (who had high levels of security clearance) from the U.S. Office of Personnel Management—attributed by some security analysts to hackers in China; criminal access to important U.S. nuclear laboratories, government offices and networks of top corporations—attributed by some analysts to hackers located in Russia; an alleged 2019 hack of more than 1 billion pieces of consumer data from the servers of Alibaba; an alleged 2021 hack of data on 700 million users of business-social media site LinkedIn; many instances of major hacks of credit card holders’ data files; and the infamous hack of roughly 143 million files containing vital personal data on U.S. consumers held by credit bureau Equifax.
Likewise, the immense losses to fraud by COVID-related support and aid programs in the U.S., such as PPP loans and unemployment benefits (these COVID-era frauds may have totaled as much as $300 billion—no one really knows), highlight the need for much greater attention to security for government systems.
The U.S. Government does operate a Cyber and Infrastructure Security Agency (CISA), and its budget has been growing. Also, the government is beginning to focus on advanced techniques, including multi-factor authentication for government account and network logins, “zero trust” policies to govern networks, systems and devices, as well as the need to develop responses to the likely capabilities of advanced quantum computers in the future. However, governments tend to move slowly, and it remains to be seen what policies and investments will actually take place over the long term.
Key Findings:
A complete market research report, including forecasts and market estimates, technologies analysis and developments at innovative firms within the Cybersecurity, Digital ID & Online Fraud Industry.Gain vital insights that can help shape strategy for business development, product development and investments.
Key Features:
-
Business trends analysis
-
In-depth industry overview
-
Technology trends analysis
-
Forecasts
-
Spending, investment, and consumption discussions
-
In-depth industry statistics and metrics
-
Industry employment numbers
Additional Key Features Include:
Industry Glossary
Industry Contacts list, including Professional Societies and Industry Associations
Profiles of industry-leading companies
Additional Key Features Include:
Industry Glossary
Industry Contacts list, including Professional Societies and Industry Associations
Profiles of industry-leading companies
Key Questions Answered Include:
-
How is the industry evolving?
-
How is the industry being shaped by new technologies?
-
How is demand growing in emerging markets and mature economies?
-
What is the size of the market now and in the future?
-
What are the financial results of the leading companies?
-
What are the names and titles of top executives?
-
What are the top companies and what are their revenues?
This feature-rich report covers competitive intelligence, market research and business analysis—everything you need to know about the Cybersecurity, Digital ID & Online Fraud Industry.
Plunkett Research Provides Unique Analysis of the Following Major Trends Affecting the Cybersecurity, Digital ID & Online Fraud Industry
-
Introduction to the Cybersecurity, Digital ID & Online Fraud Industry
-
Digital ID and Online Authentication Fraud Soars/Sophisticated Technologies and Databases Respond
-
Password Reuse Enables Fraud/The Dark Web and Credential Stuffing
-
Online Fraud/Payments Fraud Evolve and Adapt Continuously
-
Network Anti-Fraud Technologies Advance, Including use of Artificial Intelligence (AI) and Machine Learning
-
Online Fraud Often Begins with New Account Setup or Account Takeover
-
Voice, Face & Image Recognition Change the Wireless World, Enhanced Through Artificial Intelligence (AI)
-
Smart Cities Utilize Sensors and Artificial Intelligence (AI)/Create Privacy and Security Issues
-
The Internet of Things (IoT) and M2M to Boom, Enhanced by Artificial Intelligence (AI)/Open New Avenues for Hacking
-
Artificial Intelligence (AI), Deep Learning and Machine Learning Advance into Commercial Applications, Including Health Care and Robotics
-
Fraudsters Are Using Artificial Intelligence (AI), including Generative AI, to Commit Cybercrimes
-
Peer-to-Peer (P2P) Payment Systems, such as Zelle and Venmo, Soar in Popularity
-
Growth in Big Data Supported by Expansion of Cloud Computing aond Predictive Analytics
-
The Future: Pervasive Computing and Complete Mobility Will Be Standard/Artificial Intelligence (AI) Will Boost Nearly All Sectors
-
Cybersecurity Challenges for the Internet of Things (IoT)
-
Hot Fields Within Computer Hardware & Software Include Artificial Intelligence (AI), Cybersecurity and the Internet of Things (IoT)
Plunkett Research Provides In-Depth Tables for the Following Cybersecurity, Digital ID & Online Fraud Industry Statistics
-
Cybersecurity, Digital ID & Online Fraud Overview
-
Cyber Crime Types and Victims Affected, U.S.
-
Data Processing, Hosting, and Related Services Industry, U.S.: Estimated Revenue & Expenses: 2017-2022
-
Data Processing, Hosting, and Related Services Industry, U.S.: Estimated Selected Expenses: 2017-2022
-
Computer Systems Design and Related Services Industry, U.S.: Estimated Revenue & Expenses: 2017-2022
-
Research Funding for Computer and Information Science Engineering, U.S. National Science Foundation: Fiscal Years 2022-2024
-
Computer and Mathematical Occupation Related Employment by Occupation, U.S.: May 2023
