GITNUX MARKETDATA REPORT 2024

Cyber Security Industry Statistics

The global cyber security market is projected to reach $248.3 billion by 2023, with a compound annual growth rate of 10.2% from 2018 to 2023.

With sources from: accenture.com, symantec.com, statista.com, cybintsolutions.com and many more

Statistic 1

By 2027, the global cybersecurity market is predicted to grow to $345.4 billion, up from $112.01 billion in 2019.

Statistic 2

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

Statistic 3

The cybersecurity skills shortage is expected to result in 3.5 million unfilled cybersecurity jobs globally by 2021.

Statistic 4

In 95% of cases, breaches are caused by human error.

Statistic 5

Cybercrime is expected to cost the world $10.5 trillion annually by 2025.

Statistic 6

Nearly 164.68 million sensitive records were exposed in 2019.

Statistic 7

Despite increasing risks, only 5% of companies’ folders are properly protected, on average.

Statistic 8

As of 2019, 77% of organizations do not have a cybersecurity incident response plan.

Statistic 9

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.

Statistic 10

33 billion records will be stolen by cybercriminals in 2023 alone.

Statistic 11

A typical firm experiences 145 security breaches on average per year.

Statistic 12

The average cost of a malware attack on a company is $2.6 million.

Statistic 13

Non-Malware attacks grew by 6.8% in 2020.

Statistic 14

The world will store 200 zettabytes of data by 2025.

Statistic 15

48% of malicious email attachments are office files.

Statistic 16

Ransomware attacks grew by 350% in 2018.

Statistic 17

It takes about 196 days, on average, to detect a breach on networks in the healthcare industry.

Statistic 18

Ransomware damage costs exceeded $8 billion worldwide in 2018.

Statistic 19

The average cost of a data breach in 2020 was $3.86 million.

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In this post, we will discuss the current landscape of the cybersecurity industry, backed by a series of powerful statistics that highlight the growing challenges and risks faced by businesses worldwide. From the exponential rise in cybersecurity market value to the alarming increase in cybercrime costs, these statistics underscore the critical importance of robust cybersecurity measures in today’s digital age. Let’s dive into the numbers that shed light on the complex web of threats and vulnerabilities facing organizations globally.

Statistic 1

"By 2027, the global cybersecurity market is predicted to grow to $345.4 billion, up from $112.01 billion in 2019."

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Statistic 2

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

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Statistic 3

"The cybersecurity skills shortage is expected to result in 3.5 million unfilled cybersecurity jobs globally by 2021."

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Statistic 4

"In 95% of cases, breaches are caused by human error."

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Statistic 5

"Cybercrime is expected to cost the world $10.5 trillion annually by 2025."

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Statistic 6

"Nearly 164.68 million sensitive records were exposed in 2019."

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Statistic 7

"Despite increasing risks, only 5% of companies’ folders are properly protected, on average."

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Statistic 8

"As of 2019, 77% of organizations do not have a cybersecurity incident response plan."

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Statistic 9

"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."

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Statistic 10

"33 billion records will be stolen by cybercriminals in 2023 alone."

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Statistic 11

"A typical firm experiences 145 security breaches on average per year."

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Statistic 12

"The average cost of a malware attack on a company is $2.6 million."

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Statistic 13

"Non-Malware attacks grew by 6.8% in 2020."

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Statistic 14

"The world will store 200 zettabytes of data by 2025."

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Statistic 15

"48% of malicious email attachments are office files."

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Statistic 16

"Ransomware attacks grew by 350% in 2018."

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Statistic 17

"It takes about 196 days, on average, to detect a breach on networks in the healthcare industry."

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Statistic 18

"Ransomware damage costs exceeded $8 billion worldwide in 2018."

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Statistic 19

"The average cost of a data breach in 2020 was $3.86 million."

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Interpretation

The statistics presented highlight the escalating challenges and consequences within the cybersecurity industry. With a significant increase in cybersecurity market size forecasted, coupled with a growing perception of risks by business leaders, it is evident that the industry faces a critical skills shortage and human error remains a prevalent cause of breaches. The staggering cost projections of cybercrime, coupled with the alarming frequency of security incidents and the lack of preparedness in organizations, emphasize the urgent need for improved cybersecurity practices and proactive measures to mitigate risks. The rise in ransomware attacks and data breaches, alongside the slow detection time for breaches, further underscore the pressing need for enhanced cybersecurity strategies and investments to safeguard sensitive information and prevent substantial financial losses.

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