Almanacs are annual publications that include predictions for the upcoming year based on an analysis of facts known at the time of publication. In past generations, for example, almanacs served as important resources for farmers developing their planting strategies for upcoming seasons. As we enter the 4th quarter of 2017, I thought that I would begin to look at predictions for the upcoming year and beyond. I recently spoke with Steve Morgan, Founder and Editor in Chief at cybersecurity research firm, Cybersecurity Ventures (on whose Advisory Board I serve). Based on the firm's research, here are some predictions for 2018 and the following few years.
Cybercrime will cost the world $6-trillion annually by 2021, up from about half of that figure in 2015.
Global spending on cybersecurity products and services will exceed $1 trillion from this year through 2021.
There will be 3.5 million unfilled cybersecurity jobs globally by 2021, up from 1 million positions in 2014.
The cybersecurity unemployment rate dropped to effectively zero percent in 2016, and is expected to remain at effectively zero through at least 2021.
There are 111 billion new lines of software code that need to be secured in 2017, and that figure will grow dramatically every year over the next five years.
Global spending on cybersecurity products and services by healthcare-related firms (which are currently the firms facing the most cyberattacks) will reach $65 billion cumulatively from 2017 through 2021.
Global ransomware damages will exceed $5 billion in 2017 - up 15X in just 2 years - and ransomware attacks on hospitals will quadruple by 2020.
The number of cybersecurity engineers and analysts in the Washington D.C. beltway area is 350% more than the rest of the United States combined.
Spending to train employees on security awareness will exceed $10 billion annually by 2027, up from $1 billion in 2014.
People around the globe will need to secure 300 billion passwords by 2020.
High throughput DDoS attacks, as well as IoT botnet attacks, will force many organizations to move their IT infrastructures to the cloud by 2020.
Newly reported zero-day exploits will rise to one-per-day by 2021, up from one-per-week in 2015.