“BARCELONA (Reuters) – Companies will double or triple spending on cybersecurity in the coming years as attacks grow more sophisticated and frequent, creating a billion dollar business opportunity for U.S. carrier AT&T Inc, it said on Wednesday.
Attacks on AT&T networks have doubled in the past four months and now tend to be more targeted to evade detection, Frank Jules, president of AT&T’s global enterprise unit, said at the Morgan Stanley TMT conference.
“We see them on a daily basis and they are now getting smaller instead of coming in huge waves, which were easier for us to detect,” he said.
“Every chief information officer at major corporations that I meet wants to talk about security. I think this will be a $40 billion market one day.”
Jules said AT&T’s strategy for its global business solutions unit was to accompany big multinationals as they expand overseas to provide them not just with connectivity but new products and services like security and machine-to-machine technology, which puts mobile SIM cards into everything from cars to vending machines.
AT&T said in early November it would boost capital spending on its U.S. network by about 16 percent to $22 billion a year for the next three years to upgrade its wireless and wireline networks.”
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