GITNUX MARKETDATA REPORT 2024

Cybersecurity In The Customer Service Industry Statistics

The customer service industry suffers from a high number of cyber attacks, with statistics showing that on average companies face over 15,000 malicious activities in a week.

Highlights: Cybersecurity In The Customer Service Industry Statistics

  • Global cybersecurity spending in the customer service industry is expected to exceed $15.5 billion by 2024.
  • 68% of business leaders feel their cybersecurity risks are increasing.
  • In 2020, around 70% of organizations reported cybersecurity skills gaps, contributing to potential issues in customer service.
  • Experts predict there will be 3.5 million unfilled cybersecurity jobs globally by 2021.
  • Over 50% of all cyber attacks in 2020 were targeted to small businesses, which often includes customer service operations.
  • Data breaches exposed 4.1 billion records in the first half of 2019.
  • As of 2019, the average time to identify a breach was 206 days.
  • It is projected that cybercrime will cost the world $6 trillion annually by 2021.
  • Phishing attacks account for 80% of reported security incidents impacting customer service.
  • About 95% of cybersecurity breaches are due to human error, highlighting the need for training in customer service.
  • In 2020, there was a 600% increase in cyber attacks due to remote work practices, directly impacting customer service operations.
  • The average cost of a data breach impacting the customer service industry will be around $3.92 million in 2021.
  • 43% of cyber attacks are aimed at small businesses, often impacting customer service departments the hardest.
  • The financial impact of cybercrime has risen by over 50% since 2018, heavily affecting customer service sectors.
  • Over 75% of industries have been infected with ransomware, including those with customer-facing operations.
  • It is predicted that damage costs from cyber crimes will hit $6 trillion annually by 2021.
  • 99% of computers are vulnerable to exploit kits (software systems designed to run on devices without consent), potentially impacting customer service systems.

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The Latest Cybersecurity In The Customer Service Industry Statistics Explained

Global cybersecurity spending in the customer service industry is expected to exceed $15.5 billion by 2024.

This statistic indicates that the customer service industry is projected to significantly increase its investment in cybersecurity measures, with an estimated spending surpassing $15.5 billion by the year 2024. This substantial allocation of financial resources towards cybersecurity demonstrates the growing recognition within the industry of the importance of protecting customer data and ensuring a secure online environment. The anticipated rise in spending also suggests a response to the escalating threat landscape posed by cyberattacks and data breaches, indicating a proactive approach towards safeguarding sensitive information and maintaining the trust of customers.

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

The statistic stating that 68% of business leaders feel their cybersecurity risks are increasing indicates a widespread concern among organizational decision-makers about the growing threats in the digital landscape. This suggests that a significant majority of business leaders perceive a rising level of vulnerability to cyber attacks, data breaches, and other security breaches in their respective industries. This statistic underscores the critical importance for businesses to prioritize and strengthen their cybersecurity measures to mitigate these evolving risks and protect their sensitive information and digital assets from potential threats and vulnerabilities.

In 2020, around 70% of organizations reported cybersecurity skills gaps, contributing to potential issues in customer service.

The statistic indicating that around 70% of organizations reported cybersecurity skills gaps in 2020 suggests a widespread challenge within the industry. This shortage of skilled professionals can lead to various issues in organizations, particularly in the realm of customer service. Without proficient cybersecurity personnel, companies may struggle to adequately protect customer data, leading to potential breaches and compromised customer information. Additionally, the skills gap may hinder swift response times to cyber threats, impacting customer trust and satisfaction. Overall, addressing cybersecurity skills gaps is crucial for organizations to ensure data security and maintain quality customer service standards.

Experts predict there will be 3.5 million unfilled cybersecurity jobs globally by 2021.

The statistic “Experts predict there will be 3.5 million unfilled cybersecurity jobs globally by 2021” highlights a significant gap between the demand for cybersecurity professionals and the available talent pool. This projection suggests a substantial shortage of skilled individuals to fill critical roles in protecting digital assets and infrastructures from cyber threats. The growing complexity and frequency of cyberattacks, coupled with the rapid expansion of digital technologies across industries, contribute to the escalating demand for cybersecurity professionals. Addressing this shortage requires strategic initiatives to attract, train, and retain cybersecurity talent to safeguard organizations and individuals against evolving cyber risks.

Over 50% of all cyber attacks in 2020 were targeted to small businesses, which often includes customer service operations.

The statistic indicates that a significant portion of cyber attacks in 2020 were directed towards small businesses, with over 50% of all attacks specifically targeting this sector. This is concerning as small businesses are often less equipped to defend against cyber threats compared to larger corporations, making them vulnerable targets for cybercriminals. Additionally, the statistic highlights that customer service operations within these small businesses were particularly attractive to attackers, possibly due to the valuable customer data and financial information these operations handle. Therefore, it is crucial for small businesses to prioritize cybersecurity measures to protect themselves and their customers from potential cyber threats.

Data breaches exposed 4.1 billion records in the first half of 2019.

The statistic ‘Data breaches exposed 4.1 billion records in the first half of 2019’ indicates the magnitude of cybersecurity threats faced by organizations and individuals worldwide. This figure represents the total number of sensitive data records such as personal information, financial details, and other confidential data that were compromised due to various cyber attacks and security breaches during the specified period. The staggering number highlights the increasing frequency and severity of data breaches, emphasizing the critical need for robust cybersecurity measures and data protection strategies to safeguard against potential threats and mitigate the risks associated with unauthorized access and exploitation of sensitive information.

As of 2019, the average time to identify a breach was 206 days.

The statistic “As of 2019, the average time to identify a breach was 206 days” indicates the average length of time it took organizations to discover security breaches in their systems during that year. A breach refers to an incident where unauthorized individuals gain access to sensitive information. This statistic suggests that, on average, organizations took 206 days to detect that such a breach had occurred. The relatively high number of days highlights the potential vulnerabilities and challenges organizations face in detecting and addressing security breaches promptly, emphasizing the importance of continuous monitoring, strong cybersecurity measures, and rapid incident response strategies to minimize the impact of data breaches.

It is projected that cybercrime will cost the world $6 trillion annually by 2021.

The statistic provided indicates that cybercrime is expected to impose a significant economic burden on the world, with costs reaching an estimated $6 trillion annually by the year 2021. This projection underscores the increasing prevalence and impact of cyberattacks and digital crimes on businesses, governments, and individuals worldwide. The rising costs associated with cybercrime signal the urgent need for enhanced cybersecurity measures, investments in cyber defense infrastructure, and a greater focus on cybersecurity awareness and education to mitigate the potential financial and operational risks posed by malicious cyber activities.

Phishing attacks account for 80% of reported security incidents impacting customer service.

The statistic stating that phishing attacks account for 80% of reported security incidents impacting customer service indicates that the majority of security breaches affecting customer service departments are attributed to phishing attacks. Phishing is a type of cyber attack where fraudulent emails, messages, or websites are used to deceive individuals into providing sensitive information such as usernames, passwords, or financial details. These attacks can lead to data breaches, financial losses, and damage to the reputation of a company. The high percentage of reported incidents related to phishing underscores the importance of implementing robust cybersecurity measures, raising awareness among employees and customers, and regularly monitoring and responding to potential threats in order to protect customer data and maintain the trust of clients.

About 95% of cybersecurity breaches are due to human error, highlighting the need for training in customer service.

The statistic that about 95% of cybersecurity breaches are due to human error underscores a critical need for training in customer service. Human error in the context of cybersecurity can range from clicking on malicious links in phishing emails to misconfiguring security settings or sharing sensitive information inadvertently. By highlighting the predominant role of human behavior in security incidents, it emphasizes the importance of educating employees on cybersecurity best practices, especially those in customer-facing roles who may be targeted by social engineering attacks. Effective training programs can help raise awareness, enhance skills, and cultivate a culture of security-conscious behavior within organizations, ultimately reducing the risks associated with human error in cybersecurity breaches.

In 2020, there was a 600% increase in cyber attacks due to remote work practices, directly impacting customer service operations.

The statistic “In 2020, there was a 600% increase in cyber attacks due to remote work practices, directly impacting customer service operations” indicates a substantial surge in cyber attacks targeting organizations as a result of the shift to remote work during the year 2020. The 600% increase suggests a dramatic rise in the frequency and severity of cyber threats faced by companies, impacting their ability to effectively deliver customer service. This statistic underscores the challenges that businesses encountered in maintaining secure operations while adapting to the new remote work landscape, highlighting the critical need for enhanced cybersecurity measures and vigilance to protect customer data and ensure operational continuity.

The average cost of a data breach impacting the customer service industry will be around $3.92 million in 2021.

This statistic indicates that, on average, the cost of a data breach affecting companies in the customer service industry is projected to be approximately $3.92 million in the year 2021. This means that companies within this sector may incur substantial financial losses due to data breaches, which can result from unauthorized access to sensitive customer information, security vulnerabilities, or other cybersecurity incidents. These costs can include expenses related to mitigating the breach, conducting forensic investigations, notifying affected individuals, managing the fallout, and potential fines or legal fees. It highlights the importance for organizations in the customer service industry to invest in robust cybersecurity measures to protect their data and prevent costly breaches.

43% of cyber attacks are aimed at small businesses, often impacting customer service departments the hardest.

The statistic that 43% of cyber attacks are targeting small businesses highlights a significant threat that these organizations face in terms of cybersecurity. Small businesses, despite their size, are increasingly becoming prime targets for cybercriminals due to potentially weaker security measures compared to larger corporations. The impact on customer service departments being hit the hardest further underscores the vulnerability of small businesses, as disruptions in customer service can have detrimental consequences on customer trust and satisfaction. This statistic emphasizes the urgent need for small businesses to prioritize cybersecurity measures and invest in adequate protection to mitigate the risks of cyber attacks.

The financial impact of cybercrime has risen by over 50% since 2018, heavily affecting customer service sectors.

The statistic indicates a significant increase in the financial impact of cybercrime since 2018, with a rise of more than 50%. This sharp increase suggests that cybercriminal activities continue to pose a growing threat to businesses, particularly those in customer service sectors. The implication is that these sectors are increasingly vulnerable to cyber attacks, resulting in financial losses due to data breaches, ransomware attacks, and other malicious activities perpetrated by cybercriminals. The data highlights the pressing need for organizations to invest in robust cybersecurity measures to mitigate risks and protect their customers’ sensitive information from cyber threats.

Over 75% of industries have been infected with ransomware, including those with customer-facing operations.

The statistic “Over 75% of industries have been infected with ransomware, including those with customer-facing operations,” indicates a widespread threat of ransomware across various sectors. Ransomware is a type of malicious software that hijacks computer systems and demands payment in exchange for restoration of access. The fact that industries with customer-facing operations have also been affected highlights the potential risks to customer data and service disruptions. This statistic underscores the urgent need for increased cybersecurity measures and vigilance in safeguarding sensitive information across industries to mitigate the detrimental impact of ransomware attacks.

It is predicted that damage costs from cyber crimes will hit $6 trillion annually by 2021.

The statistic indicates a significant and alarming increase in the estimated annual damages caused by cyber crimes, reaching $6 trillion by the year 2021. This prediction suggests a growing threat posed by cyber attacks, highlighting the potential financial impact on organizations, businesses, and individuals. The rapid advancement of technology and the evolving tactics of cyber criminals are likely contributing to this steep rise in cyber crime damages. Such high costs emphasize the critical need for enhanced cybersecurity measures, investment in preventative strategies, and increased awareness to mitigate the risks associated with cyber threats in the digital age.

99% of computers are vulnerable to exploit kits (software systems designed to run on devices without consent), potentially impacting customer service systems.

The statistic that 99% of computers are vulnerable to exploit kits indicates a widespread susceptibility of computer systems to unauthorized access and potential attacks from malicious software. This vulnerability poses a significant risk to customer service systems, as these may likely contain sensitive customer data and confidential information. The exploitation of such vulnerabilities by malicious actors could lead to data breaches, service disruptions, and potential financial losses for businesses. As such, companies need to prioritize enhancing their cybersecurity measures, conducting regular security assessments, and implementing necessary updates and patches to mitigate the risk posed by exploit kits and safeguard their customer service systems from potential compromises.

References

0. – https://www.smallbiztrends.com

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2. – https://www.www.ibm.com

3. – https://www.www.statista.com

4. – https://www.www.isc2.org

5. – https://www.cybersecurityventures.com

6. – https://www.www.ncsc.gov.uk

7. – https://www.www.riskbasedsecurity.com

8. – https://www.www.cybintsolutions.com

9. – https://www.purplesec.us

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11. – https://www.www.globenewswire.com

12. – https://www.www.securitymagazine.com

13. – https://www.www.accenture.com

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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