In today’s age, humans greatly depend on technology to work effectively. Whether it’s about sending work documents, carrying out financial transactions, or professional or social networking, technology plays an important role in our lives. However, when these activities are threatened or compromised, it can lead to disastrous situations, thereby harming any business. There is the direct economic cost of such attacks to the business, such as theft of corporate information, disruption to trading or even having to repair affected systems all resulting in financial loss. As well as the physical impact, cybersecurity breaches can also cause financial and reputational damage. The common types of cybersecurity threats include scammers imitating a business, the sending of fraudulent emails, data leaks, and viruses and malware. Therefore, cybersecurity is of prime importance as it prevents one or reduces the disruption from an attack on data, mobile, or computers belonging to or linked to an organization’s network. Individuals must be able to identify risks and threats that exist online and their consequence and know how to implement protective measures. They must also know the basic cybersecurity safeguards for their own use and when participating in the management of the company. Cybersecurity finds application in both small and medium enterprises and in industries such as banking, IT and telecom, healthcare, aerospace and defense, retail, manufacturing, energy & utilities, and more.
The cybersecurity market witnesses a rapid growth in recent years, owing to the growing number of threats associated with malware and phishing among enterprises, increase in adoption of the Internet of Things (IoT), and growing demand for cloud-based cybersecurity solutions. Moreover, the increase in adoption of mobile device applications and platforms, need for strong authentication methods, and transformation in traditional anti-virus software industry provide multiple opportunities for growth of the market. A report by Allied Market Research on cyber security industry states that the market was valued at $104.60 billion in 2017 and is likely to accrue a sum of $258.99 billion by 2025, growing at a CAGR of 11.9% from 2018 to 2025.
A growing number of companies are leveraging the potential of cybersecurity to develop new solutions. Alphabet’s startup Chronicle launched an enterprise cybersecurity platform known as Backstory which enables organizations to privately assess their security and investigate threats. Safetech Innovations, the Romania-based computer security service launched its cyber security product called iSAM, the Information Security Automation Manager. Huawei, a telecommunications equipment company, launched a cybersecurity center in Poland. IT company Hewlett Packard Enterprise (HPE) recently announced the launch of a cybersecurity curriculum in order to teach young girls essentials skills on cybersecurity.
Chronicle Announces Backstory
Backstory launched by Chronicle in March ‘19 is a security solution that is designed for companies that generate huge security telemetry and find it difficult to hire enough trained analysts to make sense of it. The new product is a cloud service which allows enterprises to privately upload, store, and assess their internal security in order to identify and gauge cyber threats. Backstory serves as essential tools for IT admins to assess data such as DNS traffic, netflow, endpoint logs, and proxy logs. It works by comparing one’s network activity against a constant stream of threat signals coming from various sources to identify threats in a jiffy. Moreover, it compares new data against an organization’s past activity to alert one of any historical access to bad web domains and other types of cyber threats.
Safetech Innovations Unveils iSAM
An Information Security Automation Manager, iSAM enables a company’s information security managers to manage the cybersecurity within their organization, by automating several procedures, offering real-time updates about cybersecurity protection levels, and enabling detection of cybersecurity threats on an early basis. The companies which iSAM targets are mainly from domains such as banking and finance, healthcare, transportation, energy, utilities, and digital infrastructure.
Huawei Introduces Cyber Security Center in Poland
Huawei plans to establish a cybersecurity center in Poland with the aim of protecting their business and reputation in the country. Tonny Bao, the head of Huawei Polish unit said, “We are ready to establish a cybersecurity center in Poland if authorities accept this as a trusted solution. Huawei also said that there was no reason for the government of the nation to exclude the Chinese company from its future 5G network development.
HPE Launches Cybersecurity Curriculum
The cybersecurity program by HPE is meant to educate young girls on cybersecurity skills so that they can safely browse the internet, covering knowledge and best practices across several areas such as personal information and digital footprint, online safety, privacy and security, and cyberbullying. As part of the curriculum, the company is also initiating an educational online game called Cyber Squad which is geared at teaching children literacy about cybersecurity through a format that takes players through real-life situations and simulates the impacts of risky and safe online behaviors.