GITNUX MARKETDATA REPORT 2024

Data Protection Industry Statistics

The Data Protection industry is expected to experience significant growth in the coming years due to increasing concerns over data privacy and security.

Last Updated: June 22, 2024

Written & Summarized by: Jannik Lindner

How we write

In this post, we will explore key statistics that shed light on the current state of the data protection industry. From the alarming rate of data breaches to the significant growth expected in the market, these numbers underscore the critical importance of robust data protection measures in today’s digital landscape.

Statistic 1

"67% of global businesses believe they won't be able to recover after a data breach."

Statistic 2

"The average cost of a data breach is $3.86 million globally."

Statistic 3

"Small businesses are most at risk for a data breach, with 58% experiencing one."

Statistic 4

"More than 7.9 billion records were exposed by data breaches in the first nine months of 2019."

Statistic 5

"39% of organizations cite encryption as the top data protection activity."

Statistic 6

"A startling 96% of IT leaders are concerned about insider data breaches."

Statistic 7

"The average dwell time for threat actors on a victim’s network before being detected is 56 days."

Statistic 8

"The data protection market is expected to grow at a CAGR of over 16% during the period 2019–2025."

Statistic 9

"There will be 75 billion Internet of Things (IoT) devices worldwide by 2025, posing significant data protection challenges."

Statistic 10

"43% of cyber attacks are aimed at small businesses, but only 14% are prepared to defend themselves."

Statistic 11

"An average of 3,676 data breaches-per-day are expected in 2021."

Statistic 12

"The average time to identify a breach in 2021 is 207 days."

Statistic 13

"An astonishing 44% of businesses expect to increase their data protection budgets in the next 1-2 years."

Statistic 14

"The average number of breached records: 25,575-owered by 3rd party purchase risk."

Statistic 15

"For every 1% increase in the use of cloud services, there is a 3% increase in the likelihood of a data breach."

The statistics presented highlight the significant challenges and risks facing businesses in the data protection industry. Data breaches continue to pose a substantial threat, with devastating financial consequences and long detection times. Small businesses are particularly vulnerable, facing high breach rates despite limited resources for defense. As the market grows and technology advances, organizations must prioritize data protection activities such as encryption and insider threat prevention. It is crucial for businesses to recognize the evolving landscape of cyber threats and allocate sufficient resources to safeguard their valuable data in an increasingly connected world.

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.

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