As more of the world's businesses move their infrastructure and services online, a greater amount of data will be vulnerable. In other words, the next few years will be a gold rush for cybercriminals.
The report, "The Future of Cybercrime & Security: Financial and Corporate Threats & Mitigation," says a single breach costs a company about $6 million on average. But with more infrastructure vital to a business's operation going online, the figure is expected to grow to $150 million by 2020. For large companies, that financial hit might be a major inconvenience; for small companies, it would be catastrophic.
"The cost of cybercrime is disproportionately heavy on smaller businesses," writes James Moar, the report's author. "Larger organizations are more likely to be able to weather the resultant costs from a large-scale data breach."
By 2020, Juniper says, there could be 16,000 data breaches annually, compared with about 5,800 this year. Sixty percent of data breaches worldwide this year will be in North America, according to the report, but they will be more dispersed across the globe in the coming years as developing countries bring their IT infrastructure online.