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STC executive says global spending on cybersecurity set to increase

STC executive says global spending on cybersecurity set to increase

Digital TransformationEnterprise SecurityKSATop Stories

A STC executive says that spending on cybersecurity is set to continue especially with the increase in Internet of Things devices.

VP of Cybersecurity at STC Solutions, Fahad Aljutaily, declared that the increase in attacks against IoT around the world reached 600% in 2017.

China topped the list as an attack location by 21%, followed by the USA by 11% and Brazil by 6%, he said.

In the presence of 25 journalists who attended a course at the STC Academy entitled ‘Cybersecurity – Risks and Challenges’, Aljutaily explained that 54% of the world’s companies have been targeted by attacks that affected data or IT infrastructure.

He added that global spending on cybersecurity reached US$96 billion in 2018.

He said: “By 2021, cybercrime damage is expected to reach US$6 trillion per year, and jobs in cybersecurity jobs are expected to reach 3.5 million jobs.”

Aljutaily noted that the Middle East is facing a huge challenge in filling jobs in cybersecurity, due to the lack of professionals available in this field.

The GCC cybersecurity market is expected to exceed US$8 billion in value in the coming years.

STC Media Club held a training course for journalists, in which 25 representatives participated from various newspapers and satellite channels at the STC Academy headquarters.

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