The cybersecurity industry attracted approximately $168 billion in spending from businesses in 2022. But according to a report by McKinsey & Company, that's nowhere near enough to protect against the growing threat landscape created by the widespread adoption of digital cloud-based operations.

To put it in perspective, the firm estimates the damage caused by cyberattacks will reach $10.5 trillion in 2025, increasing 300% from 2015 levels -- corporate spending on protection sure seems tiny by comparison.

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Source Fool.com