There’s a reason that law firms are increasingly offering practice groups related to data breaches: Cybersecurity is a growing business. In fact, one study from this past month estimated that worldwide spending on cybersecurity is expected to be close to $70 billion in 2015, and it could grow by 18 percent over the next 10 years.
“Despite the pessimism in the field, we found that companies are paying a lot more attention to cybersecurity than they were even five years ago,” said Martin Libicki, co-lead author of the study and senior management scientist at RAND, a nonprofit research organization. “Companies that didn’t even have a chief information security officer five years ago have one now, and CEOs are more likely to listen to them. Core software is improving and new cybersecurity products continue to appear, which is likely to make a hacker’s job more difficult and more expensive.”
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