Ransomware helped cybersecurity investment grow to more than €45.2bn in 2020, outperforming other segments of the IT industry
Data breaches rocketed in 2020 as more records were compromised in 12 months than in the previous 15 years combined, analysis from Canalys has revealed.
"Cybersecurity must be front and centre of digital plans, otherwise there will be a mass extinction of organisations, which will threaten the post-COVID-19 economic recovery," said Canalys chief analyst Matthew Ball.
"A lapse in focus on cybersecurity is already having major repercussions, resulting in the escalation of the current data breach crisis and acceleration of ransomware attacks."
The market analyst firm revealed that the healthcare vertical was particularly badly hit, with hospitals being targeted for sensitive patient data by ransomware attacks.
Cyberattacks became an increasingly concerning trend across the channel with several partners paying a high price including CompuCom, Cogizant, Sopra Steria, Umanis and Econocom; all of which faced millions in damages.
In a report ‘Now and Next for the cybersecurity industry', Canalys notes that cybersecurity investment outperformed other segments of the IT industry in 2020, growing 10 per cent to $53bn (€45.2bn).
Growth in other segments
The analyst firm estimates that cloud infrastructure services grew 33 per cent to $142bn, and cloud software services increased by more than 20 per cent year on year.
Zoom's reported revenue jumped over 300 per cent, while Microsoft Office 365 and Salesforce maintained strong double-digit growth.
Canalys also claimed Notebook PC shipments had a record year, surging 17 per cent, and are forecast to grow further in 2021.
Logitech's webcam business also hit a record high, increasing 138 per cent on a trailing four-quarter basis. While sales growth of home Wi-Fi routers exceeded 40 per cent, as remote workers looked to improve their connectivity, while home printers and ink sold out.