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Cybersecurity Economic Predictions: 2017 to 2021

New infographic provides a pictorial view of predictions from several reports covering worldwide cybersecurity economic indicators.

Cybersecurity Ventures anticipates 12-15 percent year-over-year growth in cyber defense spending from 2017 to 2021.
— Steve Morgan, Cybersecurity Ventures
MENLO PARK, CA, UNITED STATES, October 19, 2016 / -- ​Cybersecurity Ventures has published its predictions for the global cybersecurity economy in a new infographic which features numbers covering cybercrime damage costs, security spending, and cyber defense jobs.

The infographic highlights the following cyber economy predictions for the 5-year period from 2017 to 2021:

Cybercrime damages will cost the world $6 trillion annually by 2021, up from $3 trillion in 2015

Cybersecurity spending will exceed $1 trillion cumulatively over the next 5-years, from 2017 to 2021.

There are 1 million cybersecurity job openings in 2016, with a projected shortfall of 1.5 million by 2019.

The cybersecurity unemployment rate has dropped to 0% and it is expected to remain there through 2021.

The cybercrime costs prediction includes damage and destruction of data, stolen money, lost productivity, theft of intellectual property, theft of personal and financial data, embezzlement, fraud, post-attack disruption to the normal course of business, forensic investigation, restoration and deletion of hacked data and systems, and reputational harm.

Cybercrime is driving heavy spending on cybersecurity products and services. Cybersecurity Ventures anticipates 12-15 percent year-over-year growth in cyber defense spending from 2017 to 2021.

“Anyone with cybersecurity experience can find immediate employment” says Steve Morgan, founder and Editor-In-Chief at Cybersecurity Ventures. “There may be a small percentage of the cyber workforce who are in between jobs, some who have resigned to pursue new opportunities, and others who are unrealistic about which positions they qualify for — but there’s a job available for everyone with cybersecurity experience. Some experts predict that, by 2019, the demand for cybersecurity professionals will increase to approximately 6 million globally.

​Media outlets and bloggers are encouraged to share the infographic with their readers.

​Cybersecurity Ventures is the world’s leading researcher and publisher of reports covering global cybercrime damage projections, cybersecurity spending forecasts, and cybersecurity employment figures.​

Steve Morgan
Cybersecurity Ventures
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