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On October 8, 2020, the Federal Bureau of Investigations or the FBI alerted people accessing Wi-Fi at hotels to remain alert. As the pandemic loomed large, many individuals took to visiting hotels to get work done, and relied on Wi-Fi signals provided by commercial establishments like hotels to do so. However, according to the FBI alert, malicious actors remained active, and lax hotel Wi-Fi security remained an easy target exploiting the commercial establishments, as well as, its guests. The potential of damager her can include personal identity information, as well as, financial information. The FBI also alerted consumers with various steps to protect themselves from the potential dangers. The incidences of personal hacks continue to skyrocket each year, and agencies like FBI have taken to alerting growing influx on SMEs online about the dangers of lax security. Furthermore, organizations like MDR, and META group estimate that over 95% of today’s laptops are pre-equipped with wireless cards. The growing demand for laptops to accommodate work-from-home culture, rising awareness about cybersecurity, and growing threat to commercial establishments, and individuals remain key drivers for growth in the wireless network security market.
Rising Demand for Wi-Fi Networks Remains Key to Growth in the Wireless Netwrok Security Market
According to the FBI’s Internet Crime Complaint Center (IC3), in 2019, the losses due to cybercrimes were highest since the center opened in 2000. The same year also witnessed highest complaints by businesses, rising by an average 1,300 every day in 2019. The IC3 witnessed a total 467,361 complaints in the same year with losses reaching over $3.5 billion for individuals, and businesses. This included a wide-range of scams including extortion, non-payment scams, and phishing scams. Moreover, businesses also witnessed increasing issues like business email comprise, and confidence frauds, among others. The author of FBI’s criminal report stated that criminals continue to use more sophisticated measures to reduce spotting of potential red flags, and differentiate real interactions from the fake ones. Moreover, new ways such as frauds through text message also remained widespread on websites, driving increased need for cyber security in the near future. The Wi-Fi network security will likely remain key as wireless remains the key form of connection for most working individuals. Moreover, securing local connection to wireless systems is essential to protect valuable information for individuals, and businesses. The growing cyber threat, and increased risks to businesses, and growing demand for Wi-Fi facilities will drive major growth for the wireless network security market.
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