The Latest Cybersecurity In The E Commerce Industry Statistics Explained
Global eCommerce transactions are projected to reach 5.5 billion by 2023, increasing the importance of cyber-security.
The statistic that global eCommerce transactions are projected to reach 5.5 billion by 2023 underscores the rapid growth and widespread adoption of online shopping and digital transactions. As the eCommerce market continues to expand, so does the potential for cyber threats and data breaches, emphasizing the critical importance of investing in robust cyber-security measures to protect sensitive customer information and secure online transactions. With more and more individuals and businesses conducting financial transactions online, ensuring the security and integrity of digital platforms has become paramount to maintaining trust and confidence in the eCommerce ecosystem.
46% of all the small businesses in the U.K. have faced cybersecurity issues.
The statistic “46% of all the small businesses in the U.K. have faced cybersecurity issues” indicates that nearly half of small businesses in the United Kingdom have experienced challenges related to cybersecurity. This could include incidents such as data breaches, malware infections, phishing attacks, or other forms of cyber threats. The high percentage underscores the prevalence and significance of cybersecurity risks faced by small businesses, highlighting the need for improved security measures and awareness to protect sensitive information and maintain the integrity of business operations in the digital age.
The cost of cybercrime damages is expected to hit $6 trillion annually by 2021.
The statistic that the cost of cybercrime damages is expected to reach $6 trillion annually by 2021 highlights the alarming trend of increasing financial losses due to cyber attacks. This huge projected figure underscores the significant threat posed by cyber criminals to individuals, businesses, and governments worldwide. With the growing reliance on digital technology and the interconnectedness of our modern society, the potential for cybercrime to cause substantial economic harm continues to escalate. As organizations and individuals become more interconnected and reliant on digital systems, it is crucial to invest in robust cybersecurity measures to mitigate these risks and protect against potential financial losses.
43% of e-commerce cyberattacks were targeted at small businesses.
The statistic that 43% of e-commerce cyberattacks were targeted at small businesses highlights a concerning trend in the realm of online security. Small businesses are increasingly becoming targets for cybercriminals due to their perceived vulnerabilities, often lacking the robust cybersecurity measures that larger corporations have in place. These attacks can have detrimental effects on small businesses, including financial losses, reputation damage, and potential data breaches. Therefore, it is crucial for small businesses to prioritize cybersecurity and implement appropriate measures to protect their online operations from cyber threats.
64% of companies have experienced web-based attacks.
The statistic “64% of companies have experienced web-based attacks” indicates that a significant majority of companies have encountered cyber attacks targeting their web-based systems. This highlights the prevalent threat that businesses face in today’s digital landscape, where cyber criminals increasingly target online assets to steal sensitive information, disrupt operations, or cause financial harm. These attacks can take various forms, such as phishing, ransomware, or distributed denial-of-service (DDoS) attacks, posing a considerable risk to organizations of all sizes and industries. As such, it underscores the paramount importance for companies to invest in robust cybersecurity measures to safeguard their digital infrastructure and data against malicious actors.
There is a hacker attack every 39 seconds.
The statistic “There is a hacker attack every 39 seconds” suggests a high frequency of cyber attacks occurring globally. This statistic underscores the persistent threat of cybercrime in today’s digital landscape, where individuals, organizations, and governments are consistently targeted by malicious actors seeking to exploit vulnerabilities in system security. The rapid pace at which these attacks occur highlights the importance of robust cybersecurity measures and proactive defense strategies to mitigate the risks posed by cyber threats. This statistic serves as a stark reminder of the ever-present need for vigilance and preparedness in safeguarding sensitive information and digital assets against cyber attacks.
94% of malware is delivered via email, highlighting the need for secure communication in e-commerce.
The statistic that 94% of malware is delivered via email underscores the critical importance of ensuring secure communication practices within e-commerce platforms. Email has been identified as a primary vector for distributing malicious software and cyber threats, making it essential for online businesses to prioritize security measures such as email encryption, authentication protocols, and employee training on identifying suspicious emails. By emphasizing the need for secure communication in e-commerce, organizations can better safeguard their systems, sensitive data, and customer information from potential cyber attacks, ultimately enhancing trust and mitigating risks for both the business and its clientele.
By 2025, it is projected that cyber crimes will cost businesses over $10.5 trillion annually.
The statistic that by 2025, cyber crimes will cost businesses over $10.5 trillion annually is a projection of the financial impact that cyber attacks and security breaches are expected to have on businesses in the near future. This estimate highlights the significant and growing threat posed by cyber crimes in today’s digital landscape. With businesses increasingly reliant on technology and data to operate, the potential financial losses resulting from cyber attacks can be staggering. This statistic underscores the importance for organizations to prioritize cybersecurity measures and invest in robust defenses to protect against potential breaches and mitigate the financial repercussions of cyber crimes.
On average, a business will fall victim to a ransomware attack every 11 seconds by 2021.
The statistic “on average, a business will fall victim to a ransomware attack every 11 seconds by 2021” indicates the alarming frequency at which businesses are being targeted by ransomware attacks. This statistic highlights the rapid increase in cyber threats and the severity of the cybersecurity landscape facing organizations, with attackers exploiting vulnerabilities to encrypt valuable data and demand ransom payments for its release. The sheer volume of attacks occurring at such a frequent interval underscores the need for businesses to prioritize robust cybersecurity measures, including proactive monitoring, employee training, and secure backup systems, to mitigate the risk of falling victim to ransomware attacks and protect their sensitive information and operations.
Over 30,000 websites are hacked every day, representing the risk to e-commerce platforms.
The statistic stating that over 30,000 websites are hacked every day highlights a prevalent and substantial risk faced by e-commerce platforms. The large number of daily hacks underscores the vulnerability of websites to cyber attacks, potentially leading to financial losses, compromised consumer data, and damage to brand reputation. E-commerce platforms, which heavily rely on secure online transactions, must prioritize cybersecurity measures to safeguard against these threats and ensure the trust and safety of their customers. This statistic serves as a stark reminder of the critical importance of robust cybersecurity practices in the digital landscape to mitigate risks and protect against malicious activities that can significantly impact businesses and their stakeholders.
In 2019, over 60% of businesses reported suffering a data breach in the last three years.
The statistic ‘In 2019, over 60% of businesses reported suffering a data breach in the last three years’ indicates a significantly high prevalence of data breaches among businesses within a relatively short period. This statistic highlights a concerning trend in the increasing vulnerabilities faced by organizations in terms of data security. The high percentage suggests that a majority of businesses have been impacted by unauthorized access to their sensitive information, potentially resulting in financial losses, reputational damage, and legal implications. This underscores the critical importance of implementing robust cybersecurity measures to safeguard against data breaches and protect sensitive data from unauthorized access.
75% of IT professionals lack confidence in their company’s cybersecurity postures.
The statistic ‘75% of IT professionals lack confidence in their company’s cybersecurity postures’ indicates that a high majority of individuals working in the IT industry do not believe that their company’s cybersecurity measures and defenses are strong or adequate. This lack of confidence suggests that IT professionals may have concerns about the level of protection against cyber threats within their organizations, potentially leaving them vulnerable to security breaches, data theft, and other cyber attacks. It underscores the importance for companies to invest in improving their cybersecurity practices and technologies to better protect their assets and sensitive information.
The average time to identify a breach in 2019 was 206 days.
The statistic states that on average, it took organizations 206 days to identify a security breach in 2019. This means that from the time a breach initially occurred to the point at which it was detected, there was an average delay of 206 days. A longer time to detect a breach can have serious consequences as it allows attackers more time to move laterally within a network, steal sensitive data, or cause further damage. Improving breach detection times is crucial for minimizing the impact of security incidents and enhancing overall cybersecurity posture.
Supply chain cyber attacks increased by 78% in 2019.
The statistic that supply chain cyber attacks increased by 78% in 2019 means that there was a significant rise in the number of cyber attacks targeting the supply chain industry compared to the previous year. This indicates a growing trend of cyber criminals specifically targeting supply chain networks to infiltrate and disrupt operations, steal sensitive data, and cause financial and reputational damage to organizations. Such a substantial increase underscores the importance of implementing robust cybersecurity measures within the supply chain, identifying vulnerabilities, and enhancing defenses to mitigate the risks posed by cyber threats.
By 2021, regulatory compliance costs related to security will increase by 68%.
The statistic “By 2021, regulatory compliance costs related to security will increase by 68%” suggests that organizations can expect a significant rise in the expenses associated with adhering to security regulations within the next year. This increase of 68% indicates a substantial financial burden that companies will need to bear in order to comply with the evolving regulatory landscape focused on cybersecurity and data protection. The rising costs may be attributed to the growing complexity of security requirements, the need for enhanced technology solutions, and the potential consequences of non-compliance, such as fines and breaches. To effectively navigate this changing environment, organizations will need to allocate resources strategically to ensure they meet regulatory standards and safeguard their systems and data.
In 2021, the average cost of a data breach is $3.86 million.
The statistic “In 2021, the average cost of a data breach is $3.86 million” indicates that, on average, organizations that experience a data breach incur financial losses amounting to approximately $3.86 million. This figure represents the average total cost associated with remediation efforts, including investigating the breach, notifying affected individuals, implementing security enhancements, and potential legal fees or fines. The cost of a data breach encompasses direct expenses as well as indirect costs such as damage to a company’s reputation and loss of customer trust. This statistic underscores the significant financial implications and risks that organizations face in today’s evolving digital landscape, highlighting the critical importance of robust cybersecurity measures to mitigate such breaches.
80% of consumers would stop doing business with companies following a data breach.
The statistic that 80% of consumers would stop doing business with companies following a data breach highlights the significant impact that breaches can have on consumer trust and loyalty. This suggests that a data breach not only poses a threat to a company’s data security but also to its reputation and customer relationships. Businesses must prioritize strong cybersecurity measures in order to safeguard sensitive information and maintain the trust of their consumers. Failing to do so could result in severe consequences such as loss of customer base, revenue, and overall reputation within the market.
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