With 1 billion malicious programs installed and more than half a million new pieces of malware produced worldwide each day, cybersecurity threat actors are growing progressively better and causing greater damage to businesses than ever before.
While large corporations typically have the resources to deal with cybersecurity threats, the cost of a single ransomware attack to small and medium-sized businesses (SMBs) could be devastating – making them perfect targets for cybercriminals. Research firm Cybersecurity Ventures predicts the cost of cybercrimes will reach $10.5 trillion annually by 2025.
According to Gartner Group and Mckinsey research, SMBs, those with less than 500 employees, remain a market category with global cybersecurity sales estimated at more than $40 billion. It has been growing at more than 8 percent per annum to date, and is expected to exceed $50 billion during the next five years.
But with threats…
