Key Highlights
- 68% of organizations have experienced a supply chain attack in the past year
- 81% of cybersecurity leaders believe supply chain security is a top priority
- 55% of cyber attacks in 2023 involved third-party vendors or suppliers
- 42% of organizations have experienced a security breach via a third-party provider
- 67% of supply chain security incidents are caused by compromised software or hardware components
- 59% of organizations regularly conduct supply chain security assessments
- 73% of organizations lack full visibility into their supplier cybersecurity postures
- The average cost of a supply chain attack in 2023 is estimated at $4.3 million
- 49% of vendors do not meet the cybersecurity standards required by their clients
- 85% of cybersecurity incidents related to supply chain originate from third-party vendors
- 41% of companies use automated tools to monitor third-party vendor cybersecurity
- 62% of supply chain cyber incidents could have been prevented with better vendor vetting
- 71% of organizations plan to increase their cybersecurity budget for supply chain management in 2024
With over two-thirds of organizations experiencing supply chain attacks in the past year and cybersecurity leaders overwhelmingly prioritizing vendor security, the supply chain cyber threat landscape has become an urgent crisis demanding immediate action.
Cybersecurity Preparedness and Response
- 55% of organizations are developing specific incident response plans for supply chain cyber incidents
- 69% of organizations increased cybersecurity staff dedicated to supply chain security in 2023
- 50% of organizations lack real-time monitoring of supply chain cybersecurity
Cybersecurity Preparedness and Response Interpretation
Financial and Insurance Implications of Supply Chain Cyberattacks
- The average cost of a supply chain attack in 2023 is estimated at $4.3 million
Financial and Insurance Implications of Supply Chain Cyberattacks Interpretation
Supply Chain Security Incidents and Impact
- 68% of organizations have experienced a supply chain attack in the past year
- 67% of supply chain security incidents are caused by compromised software or hardware components
- 47% of companies experienced disruption due to supply chain cyber vulnerabilities in 2023
- 54% of supply chain attacks utilize malware embedded in software updates
- 69% of organizations have experienced at least one supply chain security incident in the past two years
- 77% of security breaches involving supply chain vulnerabilities go undetected for more than three months
- 83% of cyber incidents impacting supply chains involve compromised credentials
- 50% of organizations experienced delays in product delivery due to cybersecurity issues in their supply chain
- 45% of supply chain cyber incidents involve mobile device vulnerabilities
- 53% of organizations have experienced supply chain disruption due to cyber attacks in the past year
- 62% of supply chain cyber incidents involve ransomware attacks
- 54% of supply chain cyber incidents caused by insider threats
- 72% of organizations expect supply chain cyber threats to increase in the next year
- 44% of companies have experienced loss of intellectual property due to supply chain cyber attacks
- 45% of supply chain cyber attacks involve malware-laden updates or patches
- 70% of organizations have experienced at least one supply chain cyber incident affecting operations
- 78% of supply chain cyber incidents involve software or code vulnerabilities
Supply Chain Security Incidents and Impact Interpretation
Technologies and Strategies for Supply Chain Security
- 48% of organizations plan to implement blockchain for supply chain security by 2025
- 64% of organizations plan to adopt AI-driven security solutions to monitor supply chain vulnerabilities
Technologies and Strategies for Supply Chain Security Interpretation
Third-Party and Vendor Risk Management
- 81% of cybersecurity leaders believe supply chain security is a top priority
- 55% of cyber attacks in 2023 involved third-party vendors or suppliers
- 42% of organizations have experienced a security breach via a third-party provider
- 59% of organizations regularly conduct supply chain security assessments
- 73% of organizations lack full visibility into their supplier cybersecurity postures
- 49% of vendors do not meet the cybersecurity standards required by their clients
- 85% of cybersecurity incidents related to supply chain originate from third-party vendors
- 41% of companies use automated tools to monitor third-party vendor cybersecurity
- 62% of supply chain cyber incidents could have been prevented with better vendor vetting
- 71% of organizations plan to increase their cybersecurity budget for supply chain management in 2024
- 58% of cybersecurity leaders consider supply chain risk as a critical concern
- 36% of third-party vendors have experienced cybersecurity breaches in the last year
- 29% of supply chain cybersecurity incidents are caused by phishing attacks targeting vendors
- Only 40% of organizations regularly audit their supply chain security measures
- 63% of companies are concerned about the security of their suppliers' cloud infrastructure
- 52% of organizations believe suppliers are not investing enough in cybersecurity
- 76% of organizations are increasing their focus on supply chain cyber risk management following recent attacks
- 60% of organizations use third-party risk management software to monitor supply chain cybersecurity
- 80% of cyber insurance policies for supply chain disruptions require comprehensive third-party security assessments
- 41% of organizations faced challenges integrating supply chain cybersecurity practices into overall cybersecurity measures
- 59% of firms report difficulties in assessing third-party cybersecurity risks effectively
- 60% of organizations report that their supply chain vendors lack sufficient cybersecurity maturity
Third-Party and Vendor Risk Management Interpretation
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