COMMENT
Statistics
released by Dubai
Police in 2016
demonstrate that
cyber crime in the
emirate saw an
increase by 136
per cent between
2013 and 2015,
amounting to a
reported total of
US$22.3 million
in damages and
lost revenue.
www.intelligentcio.com
the end of 2016, forecasts
worldwide revenues for
security-related hardware,
software, and services will
grow from US$73.7 billion
in 2016 to US$101.6 billion
in 2020. The research firm
predicts the largest category
of investment to be security-
related services, which it
estimates accounted for nearly
45 per cent of all security
spending worldwide in 2016.
The largest segment, managed
security services, was
estimated to have generated
revenues of US$13 billion in
2016. Security software was
the second largest category
during the year, with endpoint
security, identity and access
management, and security
and vulnerability management
software driving more than
75 per cent of the category’s
revenues. IDC forecasts one of the
fastest growing segments of the
security products market will be user
behaviour analytics software.
Hence, while investment in cyber
security defences is precisely the
correct thing to be doing in our
highly digitised economies, making
smart decisions and adopting an
end-to-end outlook to cyber security
is critical. Organisations need to pro-
actively assume a state of breach in
their systems and develop people,
processes, policies and technologies
to mitigate attacks.
Traditional cyber security offerings
are becoming outdated and
ineffective, and the modern threat
vectors demand organisations
adopt a dynamic approach to cyber
resilience incorporating planning,
prevention, detection/protection, and
response with respect to protecting
digital assets. ¡
INTELLIGENTCIO
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