The cumulative cost of data breaches will reach $2.1 trillion (£1.3 trillion) globally by 2019 – roughly four times the financial impact of cybercrime today.
This is according to a new report from Juniper Research, published yesterday (May 12th), which states that while “casual activist hacks” will decline over the next half-decade, more professional and larger-scale cyber attacks are set to flourish.
As such, the average cost of a data breach will exceed $150 million by 2020. “Juniper expects fewer attacks overall, but more successful ones,” the report said.
The firm also predicted that politically motivated attacks – such as the supposedly North Korean-sponsored Sony hack last year, which caused massive data loss for the studio – will become less prolific, but more devastating.
When looking for data recovery services, look for one with a track record of success. Ontrack Data Recovery services has 40,000 data recovery stories to tell every year.