GITNUX MARKETDATA REPORT 2024

Cybersecurity In The Supply Chain Industry Statistics

Cybersecurity incidents in the supply chain industry have increased by 78% in the past year.

Highlights: Cybersecurity In The Supply Chain Industry Statistics

  • Almost 70% of corporations lack full visibility into their supply chains, exposing them to cybersecurity risks.
  • Cyber-attacks are mentioned as the biggest concern by industry professionals for disruptions in the supply chain industry.
  • Only 5% of companies’ folders are properly protected on average.
  • It is estimated that the average time needed to identify a breach in 2020 was 207 days.
  • According to a 2020 report, only 14% of organizations assessed their complete supply chain for cybersecurity risk.
  • IoT devices experience an average of 5,200 attacks per month.
  • 57% of IT decision makers acknowledge that third-party software and collaboration tools introduce the most risk into their environments.
  • 87% of cybersecurity professionals are using AI and machine learning tools to secure their supply chain networks.
  • Over 95% of supply chain based breaches are caused due to human errors, making staff training a crucial factor for cybersecurity.
  • According to research, it is estimated that organizations could incur cumulative global losses of $5.2 trillion over five years due to cyber threats.

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The Latest Cybersecurity In The Supply Chain Industry Statistics Explained

Almost 70% of corporations lack full visibility into their supply chains, exposing them to cybersecurity risks.

The statistic suggests that a significant majority, specifically almost 70%, of corporations do not have complete insight or transparency into all aspects of their supply chains, leaving them vulnerable to potential cybersecurity threats and breaches. This lack of visibility could stem from inadequate monitoring, tracking, or verification processes within the supply chain, making it difficult for companies to identify and address potential vulnerabilities effectively. Without a comprehensive understanding of their supply chain operations, organizations may struggle to mitigate cybersecurity risks, protect sensitive data, and ensure the integrity and security of their products and services, potentially putting their business operations and reputation at risk.

Cyber-attacks are mentioned as the biggest concern by industry professionals for disruptions in the supply chain industry.

The statistic indicating that cyber-attacks are cited as the most significant concern by industry professionals for disruptions in the supply chain industry underscores the growing threat posed by cyber threats in today’s interconnected digital world. This finding suggests that businesses are increasingly aware of the potential impact that cyber-attacks can have on their supply chain operations, leading to disruptions in the flow of goods and services. The emphasis on cyber-attacks as a top concern highlights the importance of implementing robust cybersecurity measures and ensuring the resilience of supply chain networks to mitigate these risks and safeguard operations from potential disruptions.

Only 5% of companies’ folders are properly protected on average.

This statistic indicates that, on average, only a small minority of companies have implemented adequate protection measures for their digital folders, with only 5% of companies meeting the standards for proper folder security. This suggests that the majority of companies may be at risk of data breaches, unauthorized access, or information leaks due to inadequate security protocols in place to protect their sensitive data stored in digital folders. This statistic highlights a concerning lack of attention and investment in cybersecurity measures among organizations, emphasizing the importance of enhancing data protection practices to safeguard valuable information and prevent potential security threats.

It is estimated that the average time needed to identify a breach in 2020 was 207 days.

This statistic suggests that, on average, it took organizations approximately 207 days to identify a security breach in the year 2020. This metric indicates the average length of time from when a breach initially occurred to when it was detected by the affected entity. The longer this time period, the greater the potential for damage caused by the breach, such as data theft or system disruption. A high average time to identify a breach may also imply weaknesses in an organization’s cybersecurity monitoring and incident response capabilities, highlighting the need for improved detection and response strategies to more promptly address security incidents.

According to a 2020 report, only 14% of organizations assessed their complete supply chain for cybersecurity risk.

The statistic states that based on a 2020 report, only 14% of organizations have conducted a thorough assessment of their entire supply chain to identify and address cybersecurity risks. This finding suggests that a significant majority of organizations may have overlooked potential vulnerabilities and weaknesses in their supply chain that could pose security threats. Failing to assess the cybersecurity risks across the entire supply chain leaves organizations susceptible to various cyberattacks, data breaches, and other malicious activities that could have detrimental consequences on their operations, reputation, and overall business continuity. Therefore, there is a pressing need for organizations to prioritize comprehensive cybersecurity assessments throughout their supply chains to bolster their security defenses and mitigate potential risks effectively.

IoT devices experience an average of 5,200 attacks per month.

The statistic “IoT devices experience an average of 5,200 attacks per month” indicates the frequency at which Internet of Things (IoT) devices are targeted by cyberattacks. This figure suggests that IoT devices are a prime target for malicious activities, potentially leading to unauthorized access, data breaches, and disruptions in IoT operations. The high volume of attacks highlights the importance of implementing robust cybersecurity measures to protect these interconnected devices and networks from potential threats. Organizations and individuals utilizing IoT devices should be vigilant in safeguarding their systems to mitigate risks associated with cyberattacks targeting their IoT ecosystems.

57% of IT decision makers acknowledge that third-party software and collaboration tools introduce the most risk into their environments.

This statistic indicates that a majority (57%) of IT decision makers recognize that utilizing third-party software and collaboration tools pose the greatest risk to their environments. This insight suggests that businesses are becoming increasingly aware of the potential vulnerabilities and security threats associated with relying on external software solutions. The acknowledgment of this risk underscores the importance of proactive measures such as thorough vetting processes, regular security audits, and robust data protection strategies to mitigate potential security breaches and safeguard sensitive information within their IT infrastructure. By acknowledging this risk, IT decision makers can prioritize efforts to enhance their cybersecurity posture and better protect their organization’s digital assets.

87% of cybersecurity professionals are using AI and machine learning tools to secure their supply chain networks.

The statistic that 87% of cybersecurity professionals are utilizing AI and machine learning tools to safeguard their supply chain networks indicates a widespread adoption of advanced technologies within the cybersecurity domain. By leveraging AI and machine learning, professionals are able to enhance their capabilities in detecting and responding to security threats proactively, thus improving the overall resilience of supply chain networks. These tools offer the advantage of analyzing vast amounts of data in real-time, identifying patterns, anomalies, and potential risks in a more efficient manner than traditional approaches. The high percentage of adoption suggests a recognition among cybersecurity experts of the importance of staying ahead of evolving cyber threats through the utilization of cutting-edge technologies.

Over 95% of supply chain based breaches are caused due to human errors, making staff training a crucial factor for cybersecurity.

This statistic highlights the significant impact of human errors on supply chain breaches, with over 95% of such incidents attributed to mistakes made by employees. It underscores the critical importance of staff training in cybersecurity to mitigate these risks and protect sensitive data within the supply chain. Effective training programs can help educate employees on best practices for handling data securely, recognizing potential threats, and following proper protocols to prevent breaches. By investing in comprehensive training initiatives, organizations can empower their staff to become more vigilant and proactive in safeguarding the supply chain against cybersecurity vulnerabilities, ultimately reducing the likelihood of data breaches due to human error.

According to research, it is estimated that organizations could incur cumulative global losses of $5.2 trillion over five years due to cyber threats.

The statistic that organizations could incur a total of $5.2 trillion in cumulative global losses over five years due to cyber threats is a projection based on research findings. This estimate implies the potential financial impact of cyber attacks on organizations worldwide, taking into account factors such as data breaches, ransomware incidents, financial fraud, and business disruptions. Cyber threats continue to evolve in complexity and frequency, posing significant risks to the security and operations of businesses across various sectors. This statistic underscores the importance of investing in robust cybersecurity measures and risk management strategies to mitigate potential financial losses and safeguard sensitive data and assets from cyber threats.

References

0. – https://www.www2.deloitte.com

1. – https://www.www.symantec.com

2. – https://www.www.agcs.allianz.com

3. – https://www.www.ibm.com

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

5. – https://www.business.financialpost.com

6. – https://www.www.accenture.com

7. – https://www.www.varonis.com

8. – https://www.us.norton.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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