The Latest Cybersecurity In The It Industry Statistics Explained
Cybercrime will cost the world $6 trillion annually by 2021, up from $3 trillion in 2015.
The statistic implies that cybercrime poses a growing threat to global economies, with projected costs doubling from $3 trillion in 2015 to $6 trillion by 2021. This staggering increase indicates the rapid evolution and expansion of cyber threats, leading to substantial financial losses for businesses, governments, and individuals worldwide. The rise in costs highlights the need for greater investment in cybersecurity measures to mitigate these risks and protect against cyber attacks in an increasingly digital and interconnected world.
Only 5% of a company’s files are properly protected.
The statistic “Only 5% of a company’s files are properly protected” indicates that a very small proportion of the files within the company have adequate security measures in place to prevent unauthorized access, modification, or deletion. This suggests a potential vulnerability in the company’s data protection efforts, which could lead to data breaches, loss of sensitive information, and other security risks. It highlights the need for the company to invest in improving its data security protocols and implementing stronger safeguards to better protect its valuable assets and confidential information.
About 68% of business leaders feel their cybersecurity risks are increasing.
The statistic that about 68% of business leaders feel their cybersecurity risks are increasing indicates a common perception among organizational decision-makers that the threats and vulnerabilities to their digital assets and infrastructures are on the rise. This sentiment likely stems from various factors such as the proliferation of cyberattacks, evolving tactics of cybercriminals, increasing reliance on technology, and the expanding attack surface presented by remote work arrangements and digital transformation initiatives. While individual perceptions may vary, this statistic highlights a prevailing concern within the business community regarding the need to enhance cybersecurity measures and strategies to mitigate potential risks and safeguard critical data and systems from cyber threats.
A strong majority of IT leaders (88%) expect a rise in cyber-attacks targeting their organizations.
The statistic that a strong majority of IT leaders (88%) expect a rise in cyber-attacks targeting their organizations indicates a high level of concern and anticipation among IT professionals regarding the growing threat of cyber-attacks. This finding suggests that IT leaders are cognizant of the evolving nature of cybersecurity risks and are proactively preparing for potential attacks. The high percentage of IT leaders who anticipate an increase in cyber-attacks highlights the pressing need for organizations to prioritize cybersecurity measures and invest in robust defense mechanisms to safeguard against potential threats. This statistic underscores the critical role that cybersecurity plays in modern business operations and emphasizes the importance of staying vigilant and proactive in mitigating cyber-attack risks.
The average cost of a data breach in 2020 will exceed $150 million, as more business infrastructure gets connected.
The statistic “The average cost of a data breach in 2020 will exceed $150 million, as more business infrastructure gets connected” indicates a concerning trend of rising financial implications associated with data breaches. With the increasing interconnectivity of business infrastructure and the growing importance of digital data, organizations face higher risks of cyber attacks and breaches. As a result, the potential costs incurred from mitigating the impact of data breaches, including investigations, notifications, regulatory fines, legal fees, and reputation damage, are projected to surpass $150 million on average in 2020. This underscores the imperative for companies to enhance their cybersecurity measures and invest in robust data protection strategies to safeguard against the potentially devastating financial consequences of a breach.
95% of cybersecurity breaches are due to human error.
The statistic that 95% of cybersecurity breaches are due to human error highlights the significant impact that individuals within an organization can have on its security posture. This statistic suggests that the vast majority of security incidents can be traced back to mistakes, negligence, or lack of awareness among employees rather than sophisticated technical attacks. Human errors can range from falling victim to phishing scams and clicking on malicious links to using weak passwords or misconfiguring security settings. This underscores the importance of investing in cybersecurity awareness training for employees, enforcing strong security policies, and implementing robust technical controls to mitigate the risks associated with human error in order to improve overall cybersecurity resilience.
Small businesses are targeted in 43% of attacks.
The statistic that small businesses are targeted in 43% of attacks indicates that a significant proportion of cyberattacks are directed towards smaller organizations. This points to the vulnerability of small businesses to various cybersecurity threats, likely due to limited resources and potentially weaker defense mechanisms compared to larger enterprises. The high percentage suggests that attackers see small businesses as attractive targets, possibly because they perceive them as easier to breach or as having valuable data that can be exploited. As such, small business owners and decision-makers should prioritize enhancing their cybersecurity measures to protect their assets and sensitive information from these prevalent attacks.
Global spending on security awareness training for employees is predicted to reach $10 billion by 2027.
This statistic implies that there is an increasing emphasis on enhancing security awareness among employees to mitigate cybersecurity risks within organizations. The prediction of global spending reaching $10 billion by 2027 suggests that companies are recognizing the importance of investing in training programs to educate their workforce on recognizing and preventing potential security threats. This growing financial commitment reflects the rising concerns around cyber-attacks and data breaches, prompting organizations to prioritize cybersecurity measures by ensuring that their employees are well-equipped to safeguard sensitive information and confidential data.
Cyberattacks are the fastest growing crime in the US, and they are increasing in size, sophistication, and cost.
The statistic that cyberattacks are the fastest growing crime in the US, and that they are increasing in size, sophistication, and cost, highlights the alarming trend of cybercrime taking on a more significant role in today’s technological landscape. With advancements in technology and digital interconnectedness, cyber criminals are finding new ways to exploit vulnerabilities in networks, systems, and individuals. This rise in cyberattacks poses a serious threat to individuals, businesses, and government institutions, as they face not only financial losses but also risks to sensitive data and privacy. The increasing scale and complexity of these cyber threats underscore the urgent need for enhanced cybersecurity measures, increased awareness, and collaborative efforts to combat cybercrime and protect against potential damages.
Third-party breaches cost more than in-house breaches: $370,000 vs $ internally.
The statistic indicates that third-party breaches tend to incur higher costs compared to in-house breaches, with an average cost of $370,000 for third-party breaches versus an unspecified amount for internal breaches. This suggests that organizations that experience breaches through external entities, such as vendors, suppliers, or partners, face higher financial consequences in terms of remediation, legal fees, regulatory fines, and reputational damage. The higher cost associated with third-party breaches may be attributed to factors like the complexity of tracing the origin of the breach, the need for additional resources to mitigate the impact, and potential lawsuits stemming from contractual agreements. As such, organizations need to prioritize managing and monitoring their external relationships to mitigate the risk and potential financial implications of third-party breaches.
More than 50% of companies found over 1,000 sensitive files open to every employee.
The statistic that more than 50% of companies found over 1,000 sensitive files open to every employee indicates a concerning lack of data security practices within organizations. This suggests that a significant number of companies are failing to properly restrict access to sensitive information, leaving it exposed to potential breaches or unauthorized access. This finding highlights the importance of implementing robust data protection measures, such as access controls, encryption, and regular security audits, to safeguard sensitive data and mitigate the risk of data leaks or cyberattacks. Addressing these vulnerabilities is crucial for protecting the confidentiality, integrity, and availability of sensitive company information.
Large-scale DDoS attacks increased by 500% in 2019.
The statistic ‘Large-scale DDoS attacks increased by 500% in 2019’ indicates a significant rise in the occurrence of Distributed Denial of Service (DDoS) attacks on a large scale, where multiple systems are used to flood a target network or service with an overwhelming amount of traffic, rendering it inaccessible to legitimate users. The 500% increase suggests that the frequency and severity of these attacks grew substantially compared to the previous year. This significant uptick may be attributed to various factors like the increasing interconnectedness of digital systems, the proliferation of insecure Internet of Things (IoT) devices, and the availability of DDoS-for-hire services, highlighting the need for improved cybersecurity measures to protect against such threats in the future.
Just over half (54%) of companies have experienced at least one cyber attack in the past year.
The statistic that just over half (54%) of companies have experienced at least one cyber attack in the past year suggests that a considerable portion of organizations are vulnerable to cyber threats. This finding highlights the pervasive nature of cybersecurity risks in today’s digital landscape, with a majority of companies being targeted by malicious actors. The high prevalence of cyber attacks underscores the importance of implementing robust cybersecurity measures and strategies to protect sensitive data, prevent breaches, and mitigate potential damages to business operations. Organizations should prioritize investing in cybersecurity defenses and increasing employee awareness to safeguard against cyber threats and ensure the security and resilience of their systems and data.
Unfilled cybersecurity jobs worldwide will reach 4 million by the end of 2021.
The statistic that unfilled cybersecurity jobs worldwide will reach 4 million by the end of 2021 indicates a significant and growing gap between the demand for skilled cybersecurity professionals and the available workforce. This shortfall poses a serious challenge for organizations globally as they seek to protect their digital assets and sensitive information from increasingly sophisticated cyber threats. The escalating number of unfilled cybersecurity positions also highlights the pressing need for investments in education, training, and recruitment efforts to bridge this gap and strengthen cybersecurity defenses across industries and sectors.
The average time to identify and contain a data breach is 280 days.
This statistic indicates that on average, it takes organizations 280 days to detect and fully mitigate a data breach once it has occurred. This time frame implies a significant delay in identifying and responding to security incidents, during which sensitive information may be exposed to unauthorized parties. The extended duration can have serious consequences, including prolonged exposure to cyber threats, increased likelihood of data leakage, and potential damage to an organization’s reputation and financial stability. As such, organizations should prioritize implementing robust cybersecurity measures and incident response protocols to prevent and swiftly address data breaches to minimize their impact on business operations and stakeholders.
An estimated 65% of enterprises in the IT sector experienced DNS attacks in 2020.
The statistic that an estimated 65% of enterprises in the IT sector experienced DNS attacks in 2020 implies that a significant majority of companies within this industry faced security threats targeting their Domain Name System infrastructure. DNS attacks can disrupt online services, compromise data security, and lead to financial losses for organizations. This statistic underscores the pervasive and serious nature of cyber threats faced by IT enterprises, highlighting the importance of investing in robust cybersecurity measures to protect against such attacks and safeguard critical business operations and sensitive information.
References
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