Opportunities, Scope, and Future of Cyber Security

1. Opportunities, Scope, and Future of Cyber Security

2. According to IDC (International Data Corporation), digital transformation investments are predicted to reach $6.3 trillion between 2022-2024, which is 55% of all ICT investment by 2024. The study also reveals that 53% of enterprise organizations now have an enterprise-wide digital transformation strategy, a significant increase of 42% in just two years. The motivation behind this transformation is the pressing need for change.

3. The five key areas of focus for digital transformation are core operations, experience, IT infrastructure, data-driven analytics, and culture change. In core operations, businesses aim to convert their physical processes to digital ones by restructuring their business models. The customer, partner, and employee experience is revamped to create a strong feedback mechanism. Cloud-based tools and new-age technology stack are utilized for IT infrastructure, including software operation, application development, data storage/retrieval, and computing. Organizations strive to become data-driven by utilizing insights gathered from data for decision-making purposes. To drive culture change, digital natives and immigrants are integrated into the digital era. Core operations Experience IT infrastructure Data-driven and analytics Culture

4. The use of various technologies such as cloud computing, IoT, AI/ML, blockchain, and others is increasing, which has led to a rise in cyber threats. The need of the hour for businesses is to be resilient and adapt to digital engagement with customers and within the company. Cloud migration is a major trend in several industries, and the revenue generated by the cybersecurity industry is estimated to have a CAGR of 21% by 2025. The urgency for cybersecurity has increased as remote work has become common, leading to cyberattacks due to a lack of proper cyber protection. The threats faced include phishing, ransomware, data leakage, and more. Cybersecurity measures should be taken across all digital platforms, especially in governance, crowdfunding, open banking, and auditing purposes.

5. Market Growth & Opportunities Currently, over 50-55% of companies are including a platform/IP in their future strategy, creating an opportunity for cybersecurity companies to work with these organizations and develop effective solutions. The employee base of cybersecurity services companies is expected to significantly increase from the current 110,000 in the near future. It is worth noting that over 35% of companies are focusing on re-skilling/upskilling their security workforce. Threats The necessity for cybersecurity has become increasingly pressing as individuals are compelled to work remotely, leaving themselves vulnerable to cyberattacks because of inadequate protection. In 2020, there were numerous threats faced, such as phishing, ransomware, crypto mining, IoT and state-sponsored attacks, data leakage, insider threats, and cyber-physical attacks. Solutions It is expected that in the near future, cybersecurity measures will be implemented on all digital platforms. Additionally, there will be a greater emphasis on cybersecurity in governance, specifically in areas such as crowdfunding, open banking, and auditing to ensure protection. Furthermore, cybersecurity will be crucial for safeguarding intellectual property, microgrids, stock trading, and even 5G technology.

6. Upskilling/ Reskilling is the way forward If you are looking to upskill yourself in Cybersecurity technology then you have landed to the right place. You can enroll for the best course for cybersecurity on FutureSkills Prime. FutureSkills Prime is a joint initiative of the Government of India (Meity) and nasscom (IT industry) towards making India the Digital Talent Nation. It aims to provide cost effective course certification in cybersecurity. You can find a wide variety of paid and free courses for cybersecurity on the platform. You can enroll in any of the online courses for cybersecurity and get nasscom certified to become an expert in the field. The best part about the platform is that upon the completion of Cybersecurity certificate or course, the Government is providing 50% cashback directly to candidate’s bank account. For more information about the platform, you may visit the website https://futureskillsprime.in/