Cybersecurity in Sport - Thematic Intelligence

Cybersecurity in Sport - Thematic Intelligence
Summary

An analysis of the cybersecurity industry and its current landscape, as well as a breakdown of its intersections with sport.

The tech industry is experiencing significant upheaval. Big Tech has made mass layoffs to cut costs, and cybersecurity companies are not immune. However, while IT budgets face scrutiny as companies cut discretionary spending, cybersecurity will remain a priority. According to Cybersecurity Ventures, global cybercrime will reach $10.5 trillion annually by 2025. Tackling this issue requires investment, and GlobalData forecasts that cybersecurity revenues will reach $344 billion worldwide by 2030.

State-sponsored cyberattacks are likely to increase in 2023. The Russian invasion of Ukraine, a continuing trade war between the US and China, and high-profile elections are all catalysts for state-sponsored attacks. Attacks on critical national infrastructure and supply chains will also increase in 2023. These are highly effective at causing large-scale disruption and long-lasting financial impact.

The world of sport is an extremely lucrative one, with many millions of people around the world keeping a close eye on it. This is also what makes it such a prime target for hackers, with enormous sums of money and confidential information that could be used for potential ransoms. While the word of sport has largely been able to keep these threats at bay, increasing sophistication from hacker groups may force adaptation to this.

Who Should Buy

Investors who are attempting to understand the shifting dynamics within the cybersecurity space, and how these will continue to change in the coming years

Sports industry professionals who want a analysis on how sports has been affected thus far by cyber attacks and cybersecurity.

Sports industry workers who are keen to understand which leagues and teams have been affected by the topic.

Key Highlights

A challenging worldwide geopolitical environment, exacerbated by the COVID-19 pandemic and the Russia-Ukraine- conflict, has gifted cyberattackers an uneven playing field, which they are actively exploiting. Those not after money are often motivated by revenge, and these types of attacks typically involve a disgruntled employee or disaffected customer. Other threat actors include hacktivists trying to gain attention for their cause, terrorists intent on damaging critical national infrastructure, or nation-states using cyber warfare against other countries.

An example of a more effective cyber attack came in November 2021, when third party consulting firm Horizon Actuarial was attacked with ransomware. During the attack, the personal data of a number of MLB players and their families was stolen. There were conflicting reports over the number of people impacted, with one report stating the details of over 38,000 people were leaked, while another claimed just over 13,000. The company had received an email from an unknown sender that personal information had been stolen from their servers, and an investigation by the company revealed that two of their computer servers had been accessed for brief periods on two separate days. Faced with the threat of this information being misused, Horizon made the decision to pay the hackers a sum of money, the amount of which was never disclosed. While this stands as one of the few truly effective examples of cyber attacks in sport, it also goes to highlight just how damaging they could be with greater success.

According to GlobalData forecasts, the global cybersecurity market will be worth $334 billion by 2030, having grown at a compound annual growth rate (CAGR) of 10% between 2022 and 2030. Software-based cybersecurity products will be the largest market segment, contributing 44% of total revenue in 2030, with services accounting for 39%.

ScopeThis report provides breakdowns of the different stages of a cyber attack, and how they can be carried out.It identifies the key leaders with regards to providing competent cybersecurity software for protection.A look at some of the current geopolitical developments that have affected cybersecurity.A detailed look at the cybersecurity value chain, and how value is generated between software, hardware and services.Reasons to BuyFor those wanting an in-depth analysis of the cybersecurity landscape and how it may evolve in the coming years.Discusses how the leading trends within the cybersecurity, as well as the major leaders and challengers in the field.GlobalData’s thematic research ecosystem is a single, integrated global research platform that provides an easy-to-use framework for tracking all themes across all companies in all sectors. It has a proven track record of identifying the important themes early, enabling companies to make the right investments ahead of the competition, and secure that all-important competitive advantage.