The Latest Cyber Security Industry Statistics Explained
By 2027, the global cybersecurity market is predicted to grow to $345.4 billion, up from $112.01 billion in 2019.
The statistic suggests that the global cybersecurity market is expected to experience significant growth by the year 2027, with a predicted value of $345.4 billion, compared to $112.01 billion in 2019. This indicates a substantial increase in investment and spending in cybersecurity technologies and services over the next several years. The growth in the cybersecurity market reflects the increasing importance and awareness of cybersecurity threats and the need for organizations to protect their systems, data, and networks from cyber attacks. This trend is likely driven by the rise in cyber threats, the increasing digitization of businesses, and the expanding use of connected devices and technologies across various industries. Such a growth projection underscores the critical role that cybersecurity plays in safeguarding assets and information in an increasingly interconnected and digital world.
68% of business leaders feel their cybersecurity risks are increasing.
The statistic that 68% of business leaders feel their cybersecurity risks are increasing indicates a prevailing sentiment among a significant majority of individuals in leadership positions within organizations regarding the perceived vulnerability of their systems and data. This suggests a growing awareness and concern among decision-makers about the evolving landscape of cyber threats and the potential impact on their businesses. Such a statistic underscores the importance of prioritizing cybersecurity measures and investments to safeguard against potential breaches and security incidents in an increasingly digital and interconnected business environment.
The cybersecurity skills shortage is expected to result in 3.5 million unfilled cybersecurity jobs globally by 2021.
The statistic indicates that there is a significant shortage of skilled professionals in the field of cybersecurity, which is forecasted to lead to 3.5 million unfilled jobs by 2021 on a global scale. This shortage highlights a concerning gap between the demand for cybersecurity expertise and the available pool of qualified candidates to fill these roles. As the digital landscape continues to evolve and security threats become increasingly sophisticated, organizations are struggling to find and retain cybersecurity talent to protect their networks and data effectively. This shortfall in skilled professionals poses a serious challenge to the industry, potentially leaving many companies vulnerable to cyber attacks and data breaches if not addressed promptly.
In 95% of cases, breaches are caused by human error.
The statistic “In 95% of cases, breaches are caused by human error” implies that the vast majority of security breaches, such as data breaches or network intrusions, can be attributed to mistakes or misconduct by individuals rather than technical vulnerabilities or system failures. Human error in cybersecurity can manifest in various forms, including falling victim to phishing attacks, using weak passwords, misconfiguring security settings, or failing to update software. This statistic highlights the critical role of human behavior in cybersecurity and underscores the importance of proactive cybersecurity training, awareness campaigns, and robust policies and procedures to mitigate the risks associated with human error and strengthen overall security posture.
Cybercrime is expected to cost the world $10.5 trillion annually by 2025.
This statistic suggests that the global economic impact of cybercrime is projected to amount to $10.5 trillion each year by 2025, reflecting a substantial increase in the financial losses incurred from cyber-related incidents. This figure serves as a significant warning about the growing threat and costly consequences of cybercriminal activities on businesses, governments, and individuals worldwide. As organizations increasingly rely on digital technologies and data assets, the potential financial ramifications of cyber threats highlight the critical importance of implementing robust cybersecurity measures to safeguard against potential breaches and mitigate potential financial losses.
Nearly 164.68 million sensitive records were exposed in 2019.
The statistic indicates that a significant number of sensitive records, totaling approximately 164.68 million, were compromised or breached in the year 2019. Sensitive records can include personal information such as names, addresses, credit card numbers, and other confidential data. The exposure of such a large number of records raises concerns about data security and privacy issues, highlighting the importance of implementing robust cybersecurity measures to protect individuals’ personal information from unauthorized access and misuse. Organizations should prioritize data protection strategies to safeguard sensitive data and prevent potential breaches that can have serious consequences for both individuals and businesses.
Despite increasing risks, only 5% of companies’ folders are properly protected, on average.
The statistic indicates that despite the rising threats to data security and the potential consequences of data breaches, only a small proportion of companies, approximately 5%, have adequately protected their folders. This suggests a significant gap in cybersecurity preparedness among businesses, leaving the majority vulnerable to cyber attacks, data leaks, and other security breaches. The low percentage of companies with proper folder protection highlights the need for organizations to prioritize and invest in robust cybersecurity measures to safeguard their sensitive information and mitigate potential risks to their operations, reputation, and customers’ data.
As of 2019, 77% of organizations do not have a cybersecurity incident response plan.
The statistic ‘As of 2019, 77% of organizations do not have a cybersecurity incident response plan’ indicates that a large majority of organizations lack a formalized plan or procedure for addressing and mitigating cybersecurity incidents. This represents a concerning gap in preparedness for potential cyber threats and breaches, leaving these organizations vulnerable to various cyber attacks, data breaches, and other security incidents. Without a structured response plan in place, organizations may struggle to effectively detect, respond to, and recover from cybersecurity incidents, potentially leading to severe financial, operational, and reputational consequences. This statistic highlights the critical need for organizations to prioritize the development and implementation of robust cybersecurity incident response strategies to enhance their overall security posture and resilience against cyber threats.
A business fell victim to a ransomware attack every 14 seconds in 2019, and it’s expected to rise to every 11 seconds by 2021.
The statistic indicates the alarming pace at which ransomware attacks are targeting businesses, with a business being attacked every 14 seconds in 2019 and the frequency projected to increase to every 11 seconds by 2021. This rapid escalation highlights the growing threat posed by ransomware, a type of cyberattack where hackers encrypt a victim’s data and demand a ransom for its release. The shorter time interval between attacks reflects the increasing sophistication and frequency of such threats, underscoring the critical need for businesses to prioritize cybersecurity measures to protect against these malicious activities. The statistic serves as a stark reminder of the evolving landscape of cybersecurity risks and the urgent need for proactive strategies to safeguard organizations from the potentially devastating impact of ransomware attacks.
33 billion records will be stolen by cybercriminals in 2023 alone.
The statistic that 33 billion records will be stolen by cybercriminals in 2023 alone denotes the alarming prevalence and potential impact of cybercrime on data security. This figure highlights the pervasive nature of cyber threats and the substantial risk faced by individuals, businesses, and organizations worldwide. The vast quantity of records at stake underscores the crucial need for robust cybersecurity measures, continuous vigilance, and proactive strategies to safeguard sensitive information and mitigate the escalating risks posed by cyberattacks. It serves as a stark reminder of the critical importance of prioritizing data protection and implementing comprehensive security protocols to combat the evolving tactics of cybercriminals and defend against potential data breaches.
A typical firm experiences 145 security breaches on average per year.
The statistic ‘A typical firm experiences 145 security breaches on average per year’ indicates that, on average, firms across a particular industry or geographic region encounter 145 security breaches annually. This figure serves as a measure of the prevalence and frequency of security breaches faced by organizations, highlighting the significant and ongoing threat posed by cyber attacks. The average of 145 breaches suggests that the issue of security breaches is widespread and reinforces the importance of implementing robust cybersecurity measures to protect against potential threats and safeguard sensitive data and systems.
The average cost of a malware attack on a company is $2.6 million.
The statistic that the average cost of a malware attack on a company is $2.6 million indicates the financial impact that such attacks can have on businesses. This figure represents the average total cost incurred by companies due to expenses related to mitigating the attack, restoring systems and data, potential loss of revenue, legal fees, and reputation damage. It highlights the significant financial burden that malware attacks can impose on organizations, underscoring the importance of investing in robust cybersecurity measures to prevent and effectively respond to such threats.
Non-Malware attacks grew by 6.8% in 2020.
The statistic states that incidents of non-malware attacks increased by 6.8% in 2020 compared to the previous year. Non-malware attacks refer to cyber attacks that do not involve traditional malicious software like viruses or ransomware but instead exploit vulnerabilities in the system or rely on social engineering techniques to gain unauthorized access. The 6.8% growth suggests a concerning trend where cyber attackers are turning towards alternative methods to breach systems and compromise data security. This rise in non-malware attacks highlights the importance of enhancing cybersecurity measures to protect against evolving threats in the digital landscape.
The world will store 200 zettabytes of data by 2025.
The statistic indicates that the world is projected to collectively store an immense amount of digital data, specifically 200 zettabytes, by the year 2025. This figure highlights the exponential growth of data being generated and stored globally, driven by various sources such as social media, IoT devices, cloud services, and more. The increasing reliance on digital technologies and the proliferation of data-intensive activities across industries are contributing to the ever-expanding digital ecosystem. As organizations and individuals continue to create, capture, and store vast amounts of data, the need for robust data management, storage infrastructure, and analytical capabilities will become increasingly crucial to harnessing the value and insights hidden within this massive dataset.
48% of malicious email attachments are office files.
The statistic stating that 48% of malicious email attachments are office files implies that nearly half of all harmful attachments sent via email are in the form of office files such as Word documents, Excel spreadsheets, or PowerPoint presentations. This suggests that cybercriminals are frequently utilizing common file formats like those found within the Microsoft Office suite to distribute malware, phishing attempts, or other types of malicious content. Given the ubiquitous use of office files in professional environments, individuals and organizations should exercise caution when opening attachments from unknown sources and prioritize implementing cybersecurity measures to mitigate the risks associated with such malicious email attachments.
Ransomware attacks grew by 350% in 2018.
The statistic “Ransomware attacks grew by 350% in 2018” indicates that the number of ransomware attacks reported in 2018 was 3.5 times higher than in the previous year. This substantial increase suggests a significant escalation in the prevalence and impact of ransomware attacks during that time period. The growth of 350% highlights the severity of the cybersecurity threat posed by ransomware, underscoring the need for organizations and individuals to strengthen their defenses and implement robust security measures to mitigate the risk of falling victim to such attacks.
It takes about 196 days, on average, to detect a breach on networks in the healthcare industry.
This statistic indicates that, on average, it takes approximately 196 days for breaches to be detected in networks within the healthcare industry. This means that cyber incidents can go undetected for a significant amount of time, allowing attackers to potentially access sensitive information. The delayed detection could be due to various factors such as the complexity of healthcare systems, inadequate cybersecurity measures, or the stealthy nature of cyber threats. The long detection time underscores the importance of implementing robust cybersecurity practices and staying vigilant to protect healthcare networks and the personal information of patients and employees from potential data breaches.
Ransomware damage costs exceeded $8 billion worldwide in 2018.
The statistic ‘Ransomware damage costs exceeded $8 billion worldwide in 2018’ indicates the significant financial impact of ransomware attacks on organizations and individuals during that year. Ransomware is a type of malicious software that encrypts files and demands payment for their release, leading to financial losses from ransom payments, data recovery efforts, and downtime in affected systems. The $8 billion figure reflects the cumulative costs incurred by victims of ransomware attacks globally in 2018, highlighting the widespread and costly nature of cyber threats in today’s digital landscape.
The average cost of a data breach in 2020 was $3.86 million.
The statistic that the average cost of a data breach in 2020 was $3.86 million represents the financial impact experienced by organizations as a result of cybersecurity incidents. This figure encompasses expenses related to investigating the breach, mitigating its effects, implementing security measures to prevent future breaches, potential legal fees, and costs associated with reputational damage. Data breaches can have far-reaching consequences beyond just the financial aspect, including loss of customer trust, regulatory fines, and operational disruptions. As data breaches continue to be a prevalent threat in today’s digital landscape, organizations need to invest in robust cybersecurity measures to protect their sensitive information and mitigate the potential financial ramifications of such incidents.
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