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RESEARCH & RESOURCES

U.S. Risk Professionals Say Cyber Incidents Will Continue to Thrive in 2020

Study says businesses are ready to invest in cybersecurity.

Note: TDWI’s editors carefully choose vendor-issued press releases about new or upgraded products and services. We have edited and/or condensed this release to highlight key features but make no claims as to the accuracy of the vendor's statements.

Data gathered and analyzed by Atlas VPN shows that 43% of respondents think that the top risk U.S. companies will face in 2020 is cybersecurity incidents, such as cybercrime, data breaches, or IT failures. However, companies are willing to invest and make cybersecurity a priority.

This year, companies will also be facing risks of business interruption (37%), market developments (24%), and changes in legislation (23%). Due to COVID-19, these numbers are expected to grow within the next few months.

Another survey reveals that companies throughout the world are aware that cyberattacks are the most common risk they face. They are planning to invest in cybersecurity, with a leading priority being cloud security. Nearly half (47%) of organizations around the globe reported a significant investment increase in cloud security this year. According to a 2020 cybersecurity roundup shared by Forbes, companies are predicted to spend $636 million in 2020 globally.

COO of Atlas VPN Rachel Welsh points out that “Global recession due to COVID-19 is inevitable, so companies are already cutting costs. I suspect smaller organizations may no longer be prioritizing cybersecurity tools amid the recession. Meanwhile, corporations are aware of how hackers can take advantage of the crisis and I expect them to continue prioritizing cybersecurity.”

The investigation also covers the rest of the risks U.S. companies will be facing and cybersecurity investment plans for companies worldwide.

The full report is available at https://atlasvpn.com/blog/43-percent-us-risk-professionals-say-cyber-incidents-will-thrive-in-2020-businesses-ready-to-invest/.

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