Frost & Sullivan analyzes the future of privacy and cybersecurity
Santa Clara, Calif. - April 15, 2020 - Frost & Sullivan's recent analysis, The Future of Privacy and Cybersecurity, Forecast to 2030, finds that by 2030, there will be a complex global network of 200 billion devices, with over 20 connected devices per human. As the Internet of Things landscape is expected to progressively expand beyond the traditional network in use today, there will be an increase in the complexity of privacy and cybersecurity challenges. Consequently, 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," said 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."
Venkatesan added: "There will be more than 26 smart cities by 2025, most of them in North America and Europe. Additionally, boundaries between work and home continue to blur, as we're experiencing right now. 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."
For further revenue opportunities, cybersecurity vendors should:
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.
The Future of Privacy and Cybersecurity, Forecast to 2030 is part of Frost & Sullivan's global Visionary Innovation Growth Partnership Service program. The Visionary Innovation Research Groups' publications present our visionary thinking on the most important trends and topics that will influence the world today and shape our tomorrow. Through extensive research and rigorous analysis, our team discusses thought-provoking facts and scenarios of the next decade that are essential for companies to consider. Our viewpoints are substantiated by market value estimates, opportunity analyses and case studies on groundbreaking ideas and breakthrough concepts that have become redefining practices for businesses today.
About Frost & Sullivan
For over five decades, Frost & Sullivan has become world-renowned for its role in helping investors, corporate leaders and governments navigate economic changes and identify disruptive technologies, Mega Trends, new business models and companies to action, resulting in a continuous flow of growth opportunities to drive future success.
Author: Vinay Venkatesan, The Future of Privacy and Cybersecurity, Forecast to 2030 K3F2-MT
Source: Frost & Sullivan
This study explores the rapidly-evolving landscape of privacy and cybersecurity triggered by a rise in the number of connected devices. By 2030, a complex mesh of 200 billion devices around the world will exist, with over 20 connected devices per human. Every connected device in a smart home or city will be a potential access point to our most sensitive and personal data. This constantly-evolving IoT landscape will expand beyond the traditional network in use today and will result in increasingly complex privacy and cybersecurity challenges. Readers of the study will gain insight into these challenges in terms of understanding various new endpoints of privacy and cybersecurity, new types of threats looming in the industry, and efforts being made to fight them.
The current global regulatory landscape around privacy and the increasing relevance of digital trust and enterprises' ability to safeguard it are also discussed. The study also focuses on evolving global threats such as nuclear hacks, dark web evolution and a state of cyber warfare. Investments and commitments to mitigate this and efforts made to close the gap in the cyber workforce are also outlined in the study.
Frost & Sullivan looks at numerous technology topics such as artificial intelligence (AI), data de-identification, advanced authentication and encryption, biometrics, blockchain, automation and quantum computing and its ability to transform privacy and cybersecurity. For each technology, its significance, impact on privacy and cybersecurity, as well as application potential are discussed. Over 20 innovation examples and emerging business models are provided throughout the study to serve as guideposts for readers.
The study also discusses key scenarios in the future based on public interest and level of regulation to allow readers to derive an understanding of the intensity and implications of privacy and cyber threats on our daily lives. While the distinct scenarios are influenced by different positions taken by governments and individuals around the world, the future of privacy and cybersecurity will most likely be a combination of these scenarios.
Our analysis of five key industries influenced by the changing landscape of privacy and cybersecurity includes automotive, energy, healthcare, smart cities, banking and financial services. When evaluating industries, we look at cybersecurity opportunity, challenges to implementation, key trends in the value chain, and emerging business models. Innovative companies at the forefront of cybersecurity pertaining to each industry are identified in order to provide strategic direction to readers.
Governments, enterprises, and individuals can benefit from the strategic recommendations made in the study meant to provide guidance to mitigate future privacy and cybersecurity challenges through innovative partnerships, regulatory changes, workforce upgradation, technology leverage, and new business models. Finally, we identify three big outcomes and predictions for the future emerging from the evolution of privacy and cybersecurity.
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