Cyber crime to cost economies $10 trn by 2025: Microsoft India official

Cyber crime is the biggest threat to the digital transformation and is estimated to cost economies about USD 10 trillion by 2025, a senior Microsoft India official said on Saturday.

Microsoft India President Anant Maheshwari during the ET Global Business Summit said that the growth of every company will depend on intensive adoption of technology in their business and it is happening across the sectors.

“Cyber security is the biggest threat to digital transformation and to the planet. Cyber crime costs economies more than USD 6 trillion each year today and that is expected to reach nearly USD 10 trillion by 2025.

As industry scales, organisations will really need to invest in cyber security and trusted tech by design. It is important to remember that people will only use technology that they trust,” Maheshwari said.

He said India is adopting cloud first approach in its journey for digital transformation.

“India cloud market is expected to reach USD 10.8 billion by 2025 growing at roughly 24 per cent in five years from 2020 to 2025. The end users spending on the public cloud is expected to grow by 35 per cent just in 2025. We are also anticipating this and expect higher demand in the future,” Maheshwari said.

To cater to the cloud requirement, Microsoft has announced that it will set-up its fourth data centre in Hyderabad which will be the biggest in India.

Telangana Minister for IT and Industries KT Rama Rao has said Microsoft has plans to invest over Rs 15,000 crore over a period of 15 years in the data centre.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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