GITNUX MARKETDATA REPORT 2024

Cybersecurity In The Home Services Industry Statistics

Cybersecurity incidents in the home services industry are expected to increase due to the growing number of connected devices and the prevalence of remote work.

Last Updated: June 22, 2024

Written & Summarized by: Jannik Lindner

How we write

In this post, we shed light on the alarming statistics surrounding cybersecurity in the home services industry. With a staggering 67% of home services businesses facing cybersecurity breaches in 2020 and 51% lacking a cybersecurity plan, it is evident that the sector is vulnerable to cyber threats. The potential cost of cyber crimes, the impact on small businesses, and the rise of phishing and ransomware attacks all highlight the urgent need for improved cybersecurity measures in the home services industry.

Statistic 1

"67% of home services businesses faced a cybersecurity breach in 2020."

Statistic 2

"51% of home services companies have no cybersecurity plan in place."

Statistic 3

"Cybersecurity crimes against home services businesses are estimated to cost up to $6 trillion annually by 2021."

Statistic 4

"43% of cyber attacks target small businesses including home services companies."

Statistic 5

"Home services industry experienced a 424% increase in authentic phishing emails in 2020."

Statistic 6

"The average cost of a data breach in the home services sector was $2.14 million in 2020."

Statistic 7

"Recovery time from cyber attacks typically takes 18.5 hours in home service companies."

Statistic 8

"60% of small and medium-sized businesses go out of business within six months of a cyber attack, including home services."

Statistic 9

"80% of home services businesses are expected to outsource their cybersecurity by 2023."

Statistic 10

"Phishing attacks were the most common form of cyber attacks in the home services industry in 2020."

Statistic 11

"In 2020, only 5% of home services companies' folders were properly protected."

Statistic 12

"The adoption of cybersecurity measures by home service providers improved service delivery by 50%."

Statistic 13

"Password attacks like brute force or credential stuffing are tried on home service businesses every 39 seconds."

Statistic 14

"About 95% of breached records came from three industries in 2020, and the home service industry is one of them."

Statistic 15

"Ransomware attacks on home services businesses are projected to occur every 11 seconds by 2021."

Statistic 16

"Credit card skimming affected about 23% of home service businesses in 2020."

The statistics presented clearly indicate the alarming prevalence and devastating impact of cyber threats on the home services industry. With a significant percentage of businesses experiencing breaches and lacking proper cybersecurity measures, the sector faces substantial financial losses and operational disruptions. The projections of rising costs and frequency of attacks emphasize the urgent need for robust cybersecurity strategies and proactive measures. The high proportion of companies outsourcing cybersecurity and the positive correlation between adopting security measures and improving service delivery underscore the crucial role of cybersecurity in the industry’s sustainability and success. The statistics serve as a stark reminder of the critical importance of prioritizing cybersecurity in the home services sector to safeguard sensitive data, maintain business continuity, and protect against financial losses.

Jannik Lindner

Jannik is the Co-Founder of Gitnux and has been working in the digital space since 2016. He is specialized in content and tech.

Can You Trust Our Report?

The statistics are checked by us and then entered into the database. Our market data reports have been linked to by some of the largest publishers and companies on the Internet.

Learn more about our process here.