The report finds that by 2030 there will be a complex global network of 200 billion devices, with over 20 connected devices per human, resulting in an increase in the complexity of privacy and cybersecurity challenges. Consequently, says the firm, the market will experience deeper synergies among data protection, security, privacy, and public good as more international frameworks are developed to govern the internet.
"Artificial Intelligence (AI) will emerge as the new frontier of privacy and cybersecurity as enterprises explore new opportunities and train a capable workforce to identify critical threats, respond faster to breaches, and learn from them," says Vinay Venkatesan, Visionary Innovation Research Consultant. "In addition to AI, data de-identification, advanced authentication and encryption, biometrics, Blockchain, automation, and quantum computing also will have the potential to transform privacy and cybersecurity."
The report forecasts that by 2025 there will be more than 26 smart cities, mostly in North America and Europe.
"Additionally, boundaries between work and home continue to blur, as we're experiencing right now," says Venkatesan. "This means every connected device in a smart home, enterprise, or city will be a potential access point to our most sensitive and personal data, making mass non-consensual data collection feasible and cybersecurity all the more vital."
As a result, says the firm, cybersecurity vendors should look to the following for further revenue opportunities:
- Invest in/partner with startups offering technological innovations (Blockchain, AI) at the core.
- Adopt an enterprise-wide cyber defense strategy rather than a dedicated cybersecurity unit.
- Invest in a creative, "cyber-human" workforce with the flexibility to deal with the evolving nature of threats.
- Allocate dedicated budgets for post-breach response solutions and recovery mechanisms.
- Consider integrating solutions offering end-to-end security built into the system rather than "bolt-on" security features.
For more, see " The Future of Privacy and Cybersecurity, Forecast to 2030 ."