“The knock-on effect of a data breach can be devastating for a company. When customers start taking their business—and their money—elsewhere, that can be a real body blow.” – Christopher Graham
Sketching cybersecurity policies coupled with maintaining controls constantly has been challenging within an organization. With an increasing number of people working remotely, the trend of BYOD, and accessing data while working from home, outlining security protocols has become a complicated task.
A survey of IBM suggests that a company took an average of 280 days to identify a data breach. Additionally, malware and ransomware attacks in the US costed a total of USD 3.90 Bn in 2020. With the absence of effective response teams, the amount would have been doubled. Thus, the effectiveness of IT teams with the right solutions will have a key role in the development of cybersecurity.
While larger companies are assumed to be targets of cyber attacks, the number of targeted small and medium-sized companies is increasing substantially due to the lack of impelling IT infrastructure.
The cybersecurity market based on the zero trust approach was valued at USD 20 Bn in 2020 and is likely to reach a valuation of USD 70 Bn by end of 2030. Owing to rising threats of attacks coupled with rising awareness about data security especially among small enterprises, the adoption of cybersecurity with zero trust approach is rising
Author Name: Nitish P.