PurpleSec reports that cyberattacks have increased 600% as a result of the pandemic and the change in network design and utilization.

It also estimates a global cost of more than $6 trillion annually by 2021 from ransomware alone.

Cyber risk is now something that all businesses are forced to address around the world.

In the United States, a patchwork of legislation has emerged with various states enacting different requirements for protecting sensitive data and networks, and adding disclosure obligations.

Congress has not yet enacted federal laws mandating cybersecurity protection, but there have been many discussions and working groups, and the Department of Defense has updated regulations for private sector companies doing business with them.

Cyberattacks

High Wire Networks stakes that with the rapid proliferation of device connectivity and the transition of the workforce to remote or hybrid, the demands on enterprise networks and all traditional networks have changed.

Global spending on cybersecurity is expected to exceed $1.75 trillion between 2021 and 2025, according to Cybersecurity Ventures.

Enterprises, service providers, wireless providers and managed service providers are working at a feverish pace to address emerging threats.

There are more than 1,500 different «point» solutions on the market today.

Most focus on a single part of the problem or «attack surface.»

Traditional solutions require a lot of deployment work, constant monitoring and well-trained personnel to interpret the massive amounts of data they produce.

This paves the way for managed services solutions that combine best-in-class tools into a comprehensive solution and manage it 24/7/365 to detect and respond to threats.

All of these trends are converging on the network. As networks improve from the carrier to the enterprise, the demand for building, managing and protecting these networks will increase as a necessary part of the industry’s expected spending.

Contracts to perform these services, provide human capital for them, and protect them will last for years.