Cyber Panic! Why Global Spending On Cloud Infrastructure Grew By 33% in 2020

We’ll mostly remember 2020 as a year to forget.

One of the most unfortunate side effects of the world being restricted to their homes, was the vicious increase in cyber attacks.

According to technology market research giants Canalys, 2020 was nothing short of a disaster for data breaches.

Record Breaking Data Breaches

“More Records Were Compromised In 12 months than the Past 15 Years Combined.”

Canalys explained that some 30 billion records had been compromised in 12 months – more than the previous 15 years combined.

The good news is that businesses have not simply laid down. To combat the rapidly deteriorating cyber situation, global spending on cloud infrastructure stood at US$142 Billion, a whopping 33% increase.

More specifically, cybersecurity spending was the highest amongst all other IT spending, registering a 10% increase on its own.

Read more about the soaring cybersecurity spending.

The Cyber Security Crisis in Australia

“Australian businesses lose $29 Billion to cybercrime each year”

We have not been spared. In fact, the cybercrime situation in Australia took on a heinous picture.

In 2020 Prime Minister Scott Morrison sounded the alarm on the cybersecurity woes at home. During the address, he explained that Australia was under a sophisticated state-based attack. Furthermore, based on evidence provided by the Australian Cyber Security Centre (ACSC), the ongoing attacks from 2020 were the most significant and coordinated cyber-targeting against Australian institutions in history.

However, there is always a lesson to be learned from the worst situations.  The ACSC has found that at least some of these breaches could have been avoided by a basic education on possible cyberthreats.

How Can You Protect Yourself Against Cybercrime?

Individuals

The best safeguard against cyber attacks for individuals is a basic education against possible tactics. A close second option, would be to invest in some cybersecurity software.

Business Owners

Chief analyst at Canalys, Matthew Ball said it best:

“Prioritise cybersecurity and invest in broadening protection, detection and response measures or face disaster.”

For business owners, data breaches can lead to serious financial and legal implications. It is often much easier, and less stressful, to seek professional services than to try to hassle with cybersecurity tasks on your own.

If you already have an IT Service Provider in Brisbane, then it might be as easy as adding on a few extra dollars to your service bill.

On the other hand, outsourcing important but mundane IT Services in general is a great option in helping your business focus in on what matters. Hiring expert help in the form of IT Service Management companies like Elevate Technology can save you massive amounts of time, money, and headaches. As Mr. Ball says, investing is the best form of defence from these perilous threats.

Elevate is a World Class Managed IT Service provider, operating from right here in Brisbane. We always prioritize customer success and expert service. Feel free to contact us, if you’d like to have peace of mind from all your technical problems.