The Evolving Landscape of Antivirus Software
As businesses and individuals grapple with increasingly sophisticated threats, the demand for robust cybersecurity solutions continues to soar, driving significant growth in the antivirus software market.
According to statistics from Avast antivirus, a staggering 55% of computer antivirus software is outdated, leaving countless systems vulnerable to exploitation. This alarming figure highlights the urgent need for organisations to prioritise cybersecurity measures and ensure that their defence mechanisms are up-to-date and effective.
Ransomware attack in Phillippines
In 2023 a ransomware attack on the Philippine Health Insurance Corporation (PhilHealth) served as a stark reminder of the real-world consequences of neglecting cybersecurity protocols. Despite having antivirus software in place, PhilHealth fell victim to the Medusa ransomware group after failing to renew its software license, rendering its protection ineffective. This unfortunate incident highlights the critical importance of proactive maintenance and renewal of cybersecurity tools in mitigating potential risks.
Former Cybersecurity Strategy Specialist at Banco Santander and Founder of Practical Infosec, Ashley Woodhall, tells Cyber Magazine: “One of the most common effective defences against cyber incidents is keeping software up to date – this absolutely includes antivirus software. It is a basic security practice, but isn't always easy. In the case of PhilHealth, it looks like the issue was more complicated than we might think, with the government's procurement policy potentially having an impact here.”
Budget constraints
The repercussions of cyberattacks extend far beyond the financial losses experienced by PhilHealth. As evidenced by the findings of the Global Security Report from Fastly. In 2023, businesses experienced an average revenue loss of nine per cent due to cyberattacks, with network outages and data loss affecting a significant portion of enterprises. As the threat landscape evolves and becomes increasingly complex, businesses are faced with the daunting challenge of fortifying their defences while navigating talent shortages and budget constraints.
Due to budget constraints, more businesses than ever before are turning to open-source antivirus software, which is considerably cheaper than cloud software, for example, yet the ongoing exploitation of open-source software is concerning, according to the report. Sean Leach, VP of Technology at Fastly, says: “Open source is a significant area of concern because the entire supply chain is targeted in these instances, meaning every programme that is developed will have the same vulnerabilities. This commonality ensures open source software will always be a target for bad actors.”
Significant growth in the antivirus software market
The escalating number of cyberattacks is driving significant growth in the antivirus software market, with projections indicating steady expansion in the coming years. In 2022, the global antivirus programme industry was valued at US$4.06bn, with anticipated growth fuelled by rising cyber threats, increased connectivity, and data privacy concerns. The market is forecasted to reach US$5.1bn by 2028, driven by factors such as ransomware protection, integration with endpoint security and IoT security concerns.
The proliferation of IoT devices further amplifies the need for robust antivirus solutions, as these interconnected devices create new avenues for cyberattacks. With over 10 billion active IoT devices in use in 2021, projected to increase to 25.4 billion by 2030, the adoption of IoT devices is a significant driver of growth in the antivirus software market. Cloud-based antivirus solutions have also emerged as a popular trend, offering enhanced protection by offloading processing tasks to cloud-based servers and providing behavioural-based screening to detect and mitigate malware threats.
Woodhall explains: “Cloud-based antivirus is indeed becoming more relevant, simply because of the digital transformation businesses have made in the last few years. Most providers such as Microsoft, Amazon and Google, have built-in (native) antivirus software which is included in their cloud services. Yet at least in the short and medium term, traditional on-premise antivirus will still be needed as long as we use devices to access work systems and data.”
Latest developments in antivirus software
Partnerships and collaborations among industry players are driving innovation and bolstering the capabilities of antivirus software. Norton Lifelock's acquisition of Avast Software for US$8bn in September 2022 exemplifies this trend, with Norton Lifelock aiming to strengthen its position in the consumer cybersecurity market and redefine comprehensive cyber solutions for consumers and small businesses globally.
Woodhall believes that staying abreast of the latest developments in antivirus software and cybersecurity protocols is crucial for businesses in today's digital landscape. “Antivirus software has been, and continues to be a last-line of security defence. If malware gets onto a device, either through email, malicious websites, antivirus software can help prevent an infection. It is still a crucial part of an organisation's cyber defence plan, this hasn't changed for decades and won’t change anytime soon,” he says.
“For most businesses I encounter as a security consultant, it's about implementing the basics before getting ahead of ourselves and thinking about future trends. As we've seen with PhilHealth and many other data breaches, it's a lack of basic practices like good password management, antivirus software, up-to-date systems, backups and training employees which can best protect against the most common types of data breaches.
“More technology doesn't always mean more security. Businesses should first leverage what they already have in place before looking at new solutions,” he concludes.
Srini Subramanian is a Principal at Deloitte & Touche LLP's Cyber Risk Services practice and leads the global risk advisory for the Government and Public Services industry. He says: “We absolutely do like antivirus software that is monitoring our systems and all the transactions that are going on to look for known signatures of attacks. Most of these are now built into the software operating system itself.
He also urges people to install software updates promptly. “One of the reasons that these updates are provided by the software vendors is to make sure that they are plugging the vulnerabilities that may have been found. And doing those implementations of software updates promptly is another technique to having good cyber hygiene.”
The landscape of antivirus software is evolving in response to the escalating threat of cyberattacks, with organisations and individuals alike recognising the critical importance of robust cybersecurity measures. As businesses navigate the challenges posed by increasingly sophisticated threats, investing in proactive cybersecurity measures and leveraging innovative antivirus solutions will be essential in safeguarding against the ever-evolving cyber threat landscape.
Founder at Practical Infosec
Cybersecurity
Spain
A former Technical Information Security Officer at Leeds Building Society and Cyber Security Strategy Specialist at Banco Santander, Ashley Woodhall protects purposeful organisations from data breaches and helps them use security as a force for good.
Principal, Risk & Financial Advisory (RFA) at Deloitte
Cybersecurity
US
Srini Subramanian stands at the forefront of cybersecurity within the Government and Public Services (GPS) sector at Deloitte. As a Principal in Deloitte's Risk and Financial Advisory (RFA) practice, he leads initiatives aimed at enhancing the cyber posture of state governments. With a keen focus on elevating cybersecurity standards, Srini spearheads the Global Risk Advisory practice for GPS, driving forward strategies to fortify digital defences in the ever-evolving landscape of cyber threats.
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