GITNUX MARKETDATA REPORT 2024

Must-Know Cybersecurity Statistics [Latest Report]

Highlights: The Most Important Cyber Security Statistics

  • Cybercrime has increased by 600% due to the COVID-19 pandemic.
  • Cybercrime has increased by 600% due to the COVID-19 pandemic.
  • Only 34% of organizations have confidence that a primary third party would notify their partners of a data breach.
  • More organizations (66%) are expecting cyber budget growth compared to previous years, with over a third expecting double-digit growth.
  • 81% of users believe the risks of companies collecting data outweigh the benefits.
  • Global cybercrime is predicted to cost up to $10.5 trillion annually by 2025.
  • The healthcare industry has been a target for cyber criminals, resulting in costly data breaches with millions of compromised patient records.
  • Healthcare suffered a 71 percent increase in breaches or incidents in 2020 compared to 2019.
  • The UK experienced a 10.3 percent increase in cyber attacks in the year prior to the CyberEdge 2022 Cyberthreat Defense Report (CDR).

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Cybersecurity is a critical issue in today’s digital world. Every day, businesses, governments, and individuals are vulnerable to cyberattacks. As technology advances, so do the techniques used by hackers to gain access to sensitive information. It is essential to be aware of the latest cybersecurity statistics to understand the scope of the problem and the measures that need to be taken to protect yourself.

In this article, we will examine the most recent cybersecurity statistics, including general statistics, cybersecurity challenges, cybersecurity attacks, and a lot more.

Cybersecurity: The Most Important Statistics

57% of businesses encounter phishing attempts weekly or daily.
The global market for cybersecurity is projected to reach $366,1 billion by 2028.
Information loss is the most expensive aspect of a cyberattack, costing an average of $5.9 million.

General statistics on cybersecurity

The global market for cybersecurity is projected to reach $366,1 billion by 2028.

The average annual expenditure per employee on cybersecurity climbed from $2,337 in 2019 to $2,698 in 2020.

In 2019, cybersecurity expenditures reached approximately $57.7 billion.

95% of cybersecurity breaches are the result of human error.

Increasingly, mobile devices are being targeted: Mobile malware attacks increased by 50% in 2020.

Small businesses are the target of 43% of cyber attacks, but only 14% are prepared to defend themselves.

The United States was the target of 46% of cyberattacks in 2020, more than twice as many as any other nation. Ukraine came in second place with 19%.

In 2021, 26% of respondents believe that providing cybersecurity and IT operations personnel with security operations training will be the top online security priority for businesses worldwide. Moreover, 22% of respondents ranked as a top priority the acquisition of security operations tools designed to automate and orchestrate security operations processes.

Cybersecurity challenges statistics

In 2021, businesses faced 31% more attacks than the previous year. In an average year, enterprises experienced 270 cyberattacks.

68% of corporate executives believe that their cybersecurity threats are growing.

43% of all cybersecurity dangers are attributable to insiders. Half are purposeful, while the other half are unintentional.

54% say that cyberattacks are too complex for their IT team to handle alone.

56% of IT decision-makers believe that remote employees pose a greater security risk than on-site workers.

41% of respondents state that the greatest difficulty encountered by cybersecurity professionals was insufficient protection against the most recent attacks. In addition, 27% of respondents complained about the high operational costs.

31% of respondents identified insider threats as one of the three most significant cybersecurity threats. A further 30% of respondents believed that other types of threats, such as distributed denial-of-service (DDoS) attacks, e-mail fraud, and cloud account compromise, were likely to occur within the next 12 months.

Cybersecurity attacks statistics

The number of reported cybercrimes on a global scale has increased by 300% since the outbreak of the COVID-19 pandemic.

When compared to 2019, the number of malware attacks in 2020 grew by 358%.

Every 11 seconds, on average, a business falls prey to a ransomware attack.

57% of businesses encounter phishing attempts weekly or daily.

Until 2021, the number of cyber attacks around the world climbed by 125%, and increased cyberattacks continued to pose a threat to businesses and individuals in 2022.

In the first half of 2022, around 236,1 million ransomware attacks were reported worldwide.

In 2021, ransomware attacks were the most common form of cyberattack. They accounted for 21% of attacks, two percentage points less than in 2020.

Phishing assaults reportedly affected 323.972 internet users in 2021. This indicates that over 50% of the users affected by a data breach fell for a phishing attack.

Cost of cybersecurity attacks

Investment fraud was the most costly form of cybercrime in 2022, with an average loss of $70,811 per victim.

Every minute, $17,700 is lost due to phishing attacks.

The average cost to recover from ransomware is approximately $2 million.

An average malware attack on a business costs $2.6 million.

Information loss is the most expensive aspect of a cyberattack, costing an average of $5.9 million.

Costs associated with ransomware damage are expanding rapidly, and it was predicted that the global damage will reach $20 billion in 2021, more than 57 times the amount in 2015. It is expected that this value will reach $265 billion by 2031.

Cybercrime was predicted to cost around $8.4 trillion worldwide in 2022. In 2023, it is anticipated to surpass $11 trillion. Global cybercrime expenses could surpass $20 trillion annually by 2026, an increase of over 150% compared to 2022.

Cybersecurity workforce statistics

As of February 2022, there are 1,053,468 people employed in cybersecurity in the United States.

There are 600,000 job opportunities in the cybersecurity industry as of February 2022.

59% of cybersecurity professionals believe that the demands of their jobs prevent them from keeping up with the latest cybersecurity capabilities.

About 50% of cybersecurity experts believe that a minimum of three years of experience is necessary for competency.

Over 65% of cybersecurity professionals have difficulty defining their career pathways.

76% of cybersecurity professionals find it challenging to recruit and hire new staff.

From 2013 to 2021, the number of available cybersecurity positions increased by 350%.

60% of businesses are unable to fill open cybersecurity positions.

There will be a shortage of 1,8 million cybersecurity professionals worldwide by 2022.

Employment of cyber security analysts is expected to increase by 31% from 2019 to 2029, significantly faster than the average for all occupations.

By 2021, the global cybersecurity labor force is anticipated to reach 3.5 million.

Cybersecurity trends in 2024

Cloud usage will continue to increase, resulting in a greater emphasis on cloud security. According to a report by Gartner, the global market for public cloud services is anticipated to surpass $600 billion.

Artificial Intelligence (AI) and Machine Learning (ML) will be utilized both to improve cybersecurity defenses and to launch more sophisticated cyberattacks. According to a report by MarketsandMarkets, the global market for AI in cybersecurity will increase from $8.8 billion in 2020 to $38.2 billion in 2026.

Cybersecurity regulations and compliance requirements will continue to increase, with the implementation of new regulations such as the California Privacy Rights Act (CPRA) and the Cybersecurity Information Sharing Act (CISA). Gartner predicts that by 2023, 65% of the world’s population will have its personal data protected by modern privacy regulations, up from 10% in 2020.

Check out our latest Data Privacy Statistics

Supplementary Statistics

By 2025, the global cybersecurity market is expected to grow to $345.4 billion.

As the global cybersecurity market continues to expand, it is becoming increasingly evident that businesses and organizations must prioritize the protection of their digital assets. This statistic serves as a reminder that the need for robust cybersecurity measures is only going to become more pressing in the years to come.

Phishing attacks account for more than 80% of reported security incidents.

It highlights the need for organizations to take proactive steps to protect their networks and data from these malicious attacks. It also serves as a warning to individuals to be vigilant when it comes to online security and to be aware of the potential risks associated with phishing.

Ransomware attacks increased by 485% in 2020 compared to 2019.

This statistic serves as a wake-up call to businesses and individuals alike to take the necessary steps to protect their data and systems from malicious actors. The magnitude of this increase is a testament to the importance of staying vigilant and taking proactive measures to ensure cybersecurity.

In total, 306.4 billion emails were sent and received per day in 2020.

The sheer volume of emails sent and received daily in 2020 is a stark reminder of the importance of cybersecurity. With so much data being exchanged, it is essential that measures are taken to protect users from malicious actors. This statistic serves as a call to action for businesses and individuals to prioritize cybersecurity and ensure that their data is kept safe.

Remote work saw a 350% growth in the last decade (2005-2017).

In the last decade, remote work has become increasingly popular, with a 350% growth in the number of people working remotely. This shift has had a profound impact on cybersecurity, as more and more people are accessing sensitive data from outside the office. Companies must ensure that their cybersecurity measures are up-to-date and able to protect their data from potential threats.

On average, a business falls victim to a ransomware attack every 40 seconds.

This spotlights the sheer frequency of ransomware attacks, and the need for businesses to take proactive steps to protect themselves. It serves as a warning that no business is immune to the threat of ransomware, and that the time to act is now.

By 2021, almost 50% of sensitive data stored in the cloud will be subject to cybersecurity threats.

As more and more sensitive data is stored in the cloud, the risk of cyber threats increases exponentially. This highlights the need for organizations to take proactive steps to protect their data and ensure that their systems are secure.

In 2020, the average time to identify a data breach was 207 days.

Thus, there is a need for organizations to be proactive in their approach to data protection, as the average time to identify a breach is far too long. It also serves as a warning that even with the best security measures in place, data breaches can still occur, and organizations must be prepared to respond quickly and effectively.

The average cost of a data breach in the healthcare industry was $7.13 million in 2020.

21% of all files are not protected in any way against potential cyber threats.

A significant portion of files are vulnerable to cyber threats, leaving them open to malicious attacks. This underscores the need for individuals and organizations to take proactive steps to protect their data and systems from potential cyber threats.

1 in every 323 email messages constitutes a phishing attack.

Individuals and organizations need to remain vigilant and take proactive steps to protect themselves from these malicious attempts to steal sensitive information. With such a high rate of phishing attacks, it is essential to stay informed and take the necessary steps to ensure that your data is secure.

65% of IT managers experience encryption blind spots in their company’s network traffic.

IT managers need to be vigilant in ensuring that all data is encrypted, as any blind spots could leave the company vulnerable to cyber-attacks.

In 2020, there were 1001 data breaches, with over 155.8 million records exposed.

This highlights the sheer number of data breaches that occurred in 2020, with an alarming amount of records exposed. It serves as a warning to organizations and individuals alike that cybersecurity should not be taken lightly.

68% of business leaders feel their cybersecurity risks are increasing.

It serves as a warning to those who may be underestimating the risks posed by cyber threats, as the majority of business leaders are clearly aware of the dangers.

Only 5% of companies’ folders are properly protected, exposing them to potential data loss.

With only 5% of companies’ folders properly protected, the remaining 95% are vulnerable to data loss, leaving them exposed to malicious actors. This brings out the need for businesses to take the necessary steps to ensure their data is secure and protected from potential threats.

Conclusion

Cybersecurity is an ever-evolving field, and the statistics show that organizations must remain vigilant in order to protect their data. The cost of a data breach is rising, and the number of attacks is increasing. As businesses continue to rely on technology, it is essential that they invest in the tools and resources needed to protect their systems and data. With the right security measures in place, organizations can reduce the risk of a data breach and protect their valuable assets.

References

AAG: “The Latest 2023 Cyber Crime Statistics (updated February 2023)”, cited in February 2023 (Source)

Accenture: “How aligning security and the business creates cyber resilience”, cited in February 2023 (Source)

Accenture: “Cybersecurity”, cited in February 2023 (Source)

Checkpoint: “The Biggest Cloud Security Challenges in 2021”, cited in February 2023 (Source)

CybersecurityVentures: “Global Ransomware Damage Costs Predicted To Exceed $265 Billion By 2031”, cited in February 2023 (Source)

ESG: “​​The Life and Times of Cybersecurity Professionals 2021”, cited in February 2023 (Source)

Gartner: “Gartner Forecasts Worldwide Public Cloud End-User Spending to Reach Nearly $500 Billion in 2022”, cited in February 2023 (Source)

GreatHorn: “BUSINESS EMAIL COMPROMISE REPORT”, cited in February 2023 (Source)

IBM: “X-Force Threat Intelligence Index 2022”, cited in February 2023 (Source)

MarketsandMarkets: “Artificial Intelligence in Cybersecurity Market”, cited in February 2023 (Source)

Microsoft: “Microsoft Digital Defense Report shares new insights on nation-state attacks”, cited in February 2023 (Source)

Sophos: “Ransomware Recovery Cost Reaches Nearly $2 Million, More Than Doubling in a Year, Sophos Survey Shows”, cited in February 2023 (Source)

Statista: “Estimated cost of cybercrime worldwide from 2016 to 2027”, cited in February 2023 (Source)

Statista: “Expected cybersecurity threats in organizations worldwide as of March 2022”, cited in February 2023 (Source)

Statista: “Most important online security priorities for companies worldwide in 2021”, cited in February 2023 (Source)

Statista: “Spending on cybersecurity worldwide from 2017 to 2022”, cited in February 2023 (Source)

Statista: “What are the biggest challenges with your current endpoint protection solution?”, cited in February 2023 (Source)
Weforum: “After reading, writing and arithmetic, the 4th ‘r’ of literacy is cyber-risk”, cited in February 2023 (Source)

ZipDo, cited June 2023: Cybersecurity Statistics

Srive – Cybersecurity Statistics

FAQs

What is Cyber Security?

Cyber Security is the practice of protecting networks, systems, and programs from digital attacks.

What are the most common cyber security threats?

The most common cyber security threats include phishing, malware, ransomware, and data breaches.

What are the best practices for cyber security?

The best practices for cyber security include using strong passwords, enabling two-factor authentication, and regularly updating software.

What are the benefits of cyber security?

The benefits of cyber security include increased data protection, improved customer trust, and reduced risk of data breaches.

How can I protect myself from cyber security threats?

To protect yourself from cyber security threats, you should use strong passwords, enable two-factor authentication, and regularly update software.

How we write our statistic reports:

We have not conducted any studies ourselves. Our article provides a summary of all the statistics and studies available at the time of writing. We are solely presenting a summary, not expressing our own opinion. We have collected all statistics within our internal database. In some cases, we use Artificial Intelligence for formulating the statistics. The articles are updated regularly.

See our Editorial Process.

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