In today’s digital age, the third-party logistics (3PL) industry plays a critical role in the global supply chain. However, with the increasing reliance on technology and data sharing, cybersecurity has become a major concern for 3PL companies. In this blog post, we will explore the latest statistics and trends related to cybersecurity in the 3PL industry, and discuss the importance of implementing robust security measures to protect sensitive information and maintain the trust of customers.
The Latest Cybersecurity In The 3Pl Industry Statistics Explained
In 2019, the 3PL industry invested around $51.9 billion in cybersecurity measures.
The statistic “In 2019, the 3PL industry invested around $51.9 billion in cybersecurity measures” highlights the significant financial commitment that the third-party logistics (3PL) industry made towards bolstering its cybersecurity defenses in the year 2019. This substantial investment underscores the industry’s recognition of the growing importance of protecting sensitive data and systems from cyber threats and breaches. By allocating such a substantial amount towards cybersecurity measures, the 3PL industry aimed to enhance its cyber resilience, mitigate potential risks, safeguard customer information, and maintain the trust of stakeholders. Overall, this statistic underscores the proactive approach taken by the 3PL industry to prioritize cybersecurity as a critical aspect of its operations in an increasingly digital and interconnected business landscape.
Around 61% of 3PL organisations plan on increasing cybersecurity investment over the next 2 years.
The statistic suggests that approximately 61% of third-party logistics (3PL) organizations are planning to increase their investment in cybersecurity measures within the next two years. This indicates a growing recognition within the 3PL industry of the importance of enhancing cybersecurity to protect their operations and sensitive data from cyber threats. By making a higher investment in cybersecurity, these organizations aim to strengthen their defenses, mitigate risks, and ensure the confidentiality, integrity, and availability of their systems and information. This proactive approach reflects a strategic mindset to stay ahead of evolving cyber risks and safeguard the trust of their clients and partners in the increasingly digitalized landscape of logistics and supply chain operations.
Only 37% of 3PL industry businesses understand their responsibility in coping with a cybersecurity incident.
The statistic suggests that there is a lack of awareness and understanding among businesses in the 3PL (Third-Party Logistics) industry regarding their responsibilities in handling cybersecurity incidents. Specifically, only 37% of businesses within the industry are knowledgeable about the actions they need to take to effectively manage and respond to cybersecurity threats. This highlights a significant gap in cybersecurity preparedness within the 3PL sector, indicating that a large portion of companies may be at risk of falling victim to cyber attacks due to inadequate awareness and protocols in place for dealing with such incidents. Efforts are needed to increase education and awareness among businesses in the 3PL industry to enhance their cybersecurity resilience and protect critical data and operations from potential breaches.
64% of 3PL companies have reported experiencing cybersecurity incidences within the past year.
This statistic indicates that a significant majority (64%) of third-party logistics (3PL) companies have reported experiencing cybersecurity incidents within the past year. This finding suggests that cybersecurity threats are a prevalent concern in the 3PL industry, potentially putting sensitive data, business operations, and customer information at risk. The high percentage of companies affected underscores the importance of implementing robust cybersecurity measures and awareness programs to safeguard against cyber threats and data breaches. Companies within the 3PL sector may need to prioritize investments in cybersecurity resources to mitigate risks and strengthen their defenses against potential cyber attacks.
By 2026, the global cybersecurity market in 3PL is predicted to reach $248.26 billion.
The statistic indicates that the global cybersecurity market within the third-party logistics (3PL) industry is expected to experience significant growth, with a projected value of $248.26 billion by the year 2026. This prediction suggests a notable increase in investment and emphasis on cybersecurity measures within the 3PL sector over the coming years, as organizations recognize the critical importance of safeguarding their data and systems against cyber threats. The substantial projected market value highlights the growing demand for cybersecurity solutions and services specifically tailored for the 3PL industry, reflecting the increasing digitalization and interconnectedness of operations in this sector.
61% of 3PL companies reported that cybersecurity was their main priority in an annual survey.
This statistic indicates that a majority of third-party logistics (3PL) companies, specifically 61% of those surveyed, have identified cybersecurity as their main priority in the latest annual survey. This suggests that 3PL companies are increasingly recognizing the critical importance of bolstering their cybersecurity measures to protect sensitive data and digital infrastructure from potential threats and breaches. By prioritizing cybersecurity, these companies aim to enhance their resilience against cyber attacks and safeguard their operations, reputation, and the data entrusted to them by their clients and partners. This proactive approach to cybersecurity underscores the growing awareness of the risks posed by cyber threats in the logistics industry and the need for robust protective measures to mitigate these risks effectively.
Only around 40% of third-party logistics providers carry out regular security audits of critical systems.
The statistic suggests that a relatively low percentage, around 40%, of third-party logistics providers regularly conduct security audits on their critical systems. This indicates that a significant portion of logistics providers may not be adequately monitoring and assessing the security of their systems, potentially leaving them vulnerable to security breaches or cyber attacks. Regular security audits are essential for identifying and addressing vulnerabilities in systems and ensuring the protection of sensitive data and resources. The statistic highlights a potential need for improved security practices and investments in cybersecurity measures within the logistics industry to enhance overall security posture and mitigate risks.
About 66% of 3PLs experience cybersecurity threats once a month.
The statistic ‘About 66% of 3PLs experience cybersecurity threats once a month’ indicates that a significant portion of third-party logistics providers (3PLs) face cybersecurity incidents on a monthly basis. This statistic suggests that cyber threats are a prevalent and ongoing concern within the 3PL industry, potentially posing risks to the security and integrity of their operations, data, and systems. The frequency of these incidents occurring once a month highlights the importance of robust cybersecurity measures and proactive strategies for 3PLs to safeguard their digital assets and information against unauthorized access, breaches, and potential disruptions.
Only 5% of 3PL companies have dedicated in-house cybersecurity specialists.
The statistic ‘Only 5% of 3PL companies have dedicated in-house cybersecurity specialists’ indicates that a small minority of third-party logistics companies have internal cybersecurity experts solely focused on protecting their digital assets and data. This suggests that the majority of 3PL companies may not have dedicated resources or expertise to effectively safeguard their systems and information against cyber threats. Given the increasing frequency and sophistication of cyber attacks targeting businesses across industries, the low percentage of 3PL companies with cybersecurity specialists underscores potential vulnerabilities in the industry’s security practices and the importance of prioritizing cybersecurity measures to mitigate risks and protect sensitive information.
Around 43% of cybersecurity attacks on the 3PL industry targeted small businesses.
The statistic “Around 43% of cybersecurity attacks on the 3PL industry targeted small businesses” indicates that a significant portion of cyber threats within the third-party logistics (3PL) sector are directed at small businesses. This highlights the vulnerability of smaller companies within the industry to cyber attacks, potentially due to their limited resources or less robust cybersecurity measures compared to larger enterprises. The prevalence of these attacks underscores the importance of small 3PL businesses prioritizing cybersecurity strategies to protect their sensitive data, systems, and operations from malicious actors seeking to exploit vulnerabilities. Addressing these cyber risks through enhanced security measures and awareness can help mitigate the potential impact of such attacks on small businesses in the 3PL industry.
38% of 3PL businesses do not have an incident response plan in place for a cybersecurity incident.
This statistic indicates that approximately 38% of third-party logistics (3PL) businesses do not have a predefined plan to address and mitigate a cybersecurity incident in place. This highlights a concerning lack of preparedness among a considerable portion of the 3PL industry, leaving these businesses vulnerable to potential cyber threats that could result in data breaches, financial losses, and reputational damage. Implementing an incident response plan is crucial for organizations to efficiently respond to and recover from cybersecurity incidents, ensuring the security and resilience of their operations in the face of escalating cyber threats. This statistic underscores the importance of enhancing cybersecurity readiness and resilience within the 3PL sector to safeguard sensitive data and maintain trust with clients and stakeholders.
The average cost of cybercrime for the 3PL industry is $13.0 million.
The statistic stating that the average cost of cybercrime for the 3PL (third-party logistics) industry is $13.0 million represents the financial impact incurred by companies in this industry as a result of cyber attacks and security breaches. This figure signifies the monetary losses, including expenses related to data breaches, network damages, system downtime, regulatory fines, and reputation damage, among others. The high cost of cybercrime highlights the significant threat posed to the 3PL industry by malicious actors seeking to exploit vulnerabilities in their digital infrastructure. Companies in this sector need to prioritize cybersecurity measures to mitigate the risks and financial implications associated with cyber attacks.
A cybersecurity event in 3PL stays undetected for an average of 197 days.
The statistic ‘A cybersecurity event in 3PL stays undetected for an average of 197 days’ refers to the average duration that a cybersecurity breach within a third-party logistics (3PL) organization remains unidentified before being discovered. This means that on average, it takes 197 days for the organization to become aware of a security incident, highlighting potential weaknesses in their detection mechanisms and cyber defensive strategies. Such a prolonged period of undetected breach can have significant implications for data security, customer trust, and overall business operations, underscoring the importance of enhancing cybersecurity measures and response capabilities within the 3PL industry.
29% of 3PLs plan to update their IT infrastructure to effectively tackle cybersecurity threats.
This statistic indicates that a significant portion, specifically 29%, of third-party logistics (3PLs) companies are planning to upgrade their existing IT infrastructure in order to better address cybersecurity threats. This proactive approach suggests that these companies are recognizing the growing importance of cybersecurity in the logistics industry and are taking steps to enhance their defenses against potential cyber threats. By investing in updating their IT systems, these 3PLs are demonstrating a commitment to protecting their data, systems, and operations against cyber attacks, which is crucial in today’s digital business environment where cyber threats are becoming increasingly prevalent and sophisticated.
The average containment time for a cybersecurity event in 3PL is estimated to be approximately 73 days.
The statistic stating that the average containment time for a cybersecurity event in 3PL is estimated to be approximately 73 days suggests that, on average, it takes 73 days for the company to effectively respond to and resolve cybersecurity incidents. This metric indicates the efficiency and effectiveness of the company’s cybersecurity incident response process, with a shorter average containment time generally being preferred as it reflects a quicker identification and mitigation of threats. A longer containment time could indicate challenges in detecting and responding to incidents promptly, potentially leading to increased risks and impacts on the organization’s cybersecurity posture. Understanding and analyzing this statistic can help the company assess its cybersecurity capabilities and identify areas for improvement to enhance incident response effectiveness and reduce potential damages from cyber threats.
Data breaches in 3PL can take around 279 days to identify and contain.
The statistic that data breaches in third-party logistics (3PL) can take around 279 days to identify and contain indicates the average amount of time it takes for companies in the 3PL industry to discover and effectively manage a data breach. This lengthy time frame highlights the challenges and complexities associated with detecting and resolving cybersecurity incidents within 3PL organizations. The prolonged period between the breach occurrence and mitigation suggests potential gaps in cybersecurity measures and incident response capabilities within the industry, emphasizing the importance of enhancing cybersecurity practices and adopting proactive strategies to protect sensitive data and information.
More than 50% of 3PL companies have made cybersecurity a board-level issue in their organization.
This statistic indicates that a significant proportion of third-party logistics (3PL) companies have acknowledged the importance of cybersecurity by elevating it to a board-level issue within their organization. By making cybersecurity a priority at the highest decision-making level, these companies are demonstrating a commitment to protecting their digital assets, sensitive information, and overall business operations from potential cyber threats. This proactive approach suggests that 3PL companies are recognizing the growing cybersecurity risks in the digital age and are taking steps to strengthen their defenses and resilience against cyber attacks, ultimately aiming to safeguard their reputation, maintain customer trust, and ensure operational continuity.
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