Cyberattacks prompt massive security spending surge


  • TECH
  • Saturday, 20 May 2017

Hardwares used for Cybersecurity are displayed at the desk of Security Platform during the TechCrunch Disrupt event in Manhattan, in New York City, NY, U.S. May 15, 2017. REUTERS/Eduardo Munoze

PARIS: The fight against cyberattacks has sparked exponential growth in global protection spending, with the cyber security market estimated at US$120bil (RM518.76bil) this year, more than 30 times its size just over a decade ago. 

But even that massive figure looks set to be dwarfed within a few years, experts said, after ransomware attacks crippled computers worldwide in the past week. 

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