Page 125 - Cyber Defense eMagazine September 2022

Top Trends in Cyber Security Post-Pandemic

By Suchita Gupta, Associate Content Writer, Allied Market Research

Cyber security is a fast-moving sector as both cyber security providers and hackers go toe-to-toe with
each other. With new threats, security providers come up with innovative ways to prevent such attacks.
For the last two years, the world was battling and coping with the global Covid-19 pandemic, but this
trying period was particularly helpful to cybercriminals. During the pandemic, various companies including
tech giants such as Microsoft experienced sophisticated cyber-attacks of all time. Global adoption of
remote working, digitization of society and organizations, and increased transition of our lives to the digital
world have created uncountable opportunities for phishers, scammers, hackers, and extortionists.
According to Allied Market Research, the global cyber security market is projected to garner $478.68
billion by 2030, registering a CAGR of 9.5% from 2021 to 2030. So, let’s look at the most significant
trends in the cyber security sector that are bound to make difference in the coming years.

1. Growing threat of ransomware

During the pandemic, many companies struggled due to ransomware attacks. What’s more, as per the
UK National Cyber Security Center, the ransomware attacks in the first quarter of 2021 were three times
that of in the whole of 2021. This trend is expected to continue in the future. The growth of digital

Cyber Defense eMagazine – September 2022 Edition 125
Copyright © 2022, Cyber Defense Magazine. All rights reserved worldwide.