Cybersecurity Statistics By Revenue, Market Size, Region, Industry, Fact and Trend

Introduction

Cybersecurity Statistics: In a world that is increasingly becoming digital, cybersecurity statistics is now more important than ever for enterprises, governments, and individuals. The world has undergone significant changes in terms of online data storage and e-commerce, which have expanded the threat landscape. Cybercriminals have become sophisticated by using advanced methods to compromise security systems, take private information away, and prevent operations. Cybersecurity statistics result in huge financial losses as well as reputational damages, hence making it one of the most critical elements in modern-day businesses and governance.

The global cyber security market has grown tremendously over the past few years due to the increasing number and complexity of cyber threats. In 2023, the cyber security industry was estimated to be worth around $217 billion US dollars, representing an increase of 15% from 2022. This growth was primarily due to increased awareness regarding cyber risks coupled with numerous high-profile data breaches affecting both organizations and governments across the globe.

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• By 2032, the worldwide cybersecurity statistics market is anticipated to hit a high of USD 533.9 billion.
• Worldwide, about 60% of internet users experienced heightened anxiety concerning the possibility of data theft during the pandemic.
• Moreover, cybercriminals cost nearly USD 6 trillion in damages in 2022 alone.
• According to cybersecurity statistics, every single worldwide cyberattack takes less than 39 seconds to occur.
• On the other hand, ransomware attacks happen every 14 seconds globally worldwide.
• Small companies normally budget for cyber security cases that cost them less than USD 500 in most cases.
• So far, the global total cost of such crimes stands at over USD 2 trillion.
• In just one year alone, more than 2,000 reports were made to the FBI regarding incidents involving cybercrime in 2020.
• Consequently, by early 2021, cases involving ransomware had increased by a whopping 102%.
• Over three-quarters, (more than 75%) of all internet break-ins begin with phishing emails sent by unknown individuals or organizations.
• Conversely, in 2023, firms generating revenue greater than USD 5 billion used nearly USD 250 million annually for cybersecurity.
• Conversely, 71% of firms spend less than $250 million on security every year.
• By September of this year, at least 91% of global firms had faced one incident of cyber-attack while 56% sustained moderate to great damages.
• 55% of the companies said they are safe for innovation because of their cyber security policies.
• In 2023, T-Mobile recorded the highest number of data breaches.
• A big data breach occurred in 2013, which affected Yahoo, compromising about 500 million accounts.
• Training employees on how to protect themselves against cyber threats will increase spending from $5.6 billion in 2023 to $10 billion by 2027
• In 2023, there were approximately 3.5 million cyber security jobs left unoccupied.
• As per cybersecurity statistics, the global cost of Cyber Crime in 2025 might reach $10.5 trillion.
• The reason why many people fall victim to cyber-attacks is because they have weak security measures.
• Detecting a breach normally takes around 197 days, but if it is resolved within 30 days, that averts huge expenses generally.

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Fun Facts

• Increase in Cyber Crime Rates: Cybercrime rates rose by 600% during the COVID-19 pandemic, which is a clear indication that threats are evolving with changes around the world.
• Phishing Attacks: Phishing accounts for around 90% of data breaches. Out of these, 96% were emailed phishing attacks.
• Ransomware Attacks: In 2023, 72.7% of organizations were attacked by ransomware. The yearly cost of ransomware is projected to be worth USD 265 billion by 2031.
• Data Breach Costs: The average cost of a data breach globally rose from USD 3.87 million in 2020 to USD 4.45 million in 2023. The highest costs were recorded in the United States at an average of USD 5.09 million per breach.
• Cyber Security Insurance: In 2022, USD7.2B was collected from US cyber insurance premiums, which increased by 50% from the previous year.
• Skills Gap in Cyber Security: By 2025, it is anticipated that there will be about 3.5 million vacancies in cyber security, thereby highlighting the enormous skills gap and hence increasing the demand for professionals in this field.
• Emails for Threats: More than 75% of all targeted attacks begin with emails, and 94% of malware is delivered via emails.
• Increased Expenses of Cybercrime: By 2025, the cost of cybercrime is expected to rise to 10.5 trillion dollars, meaning an increase of 15% annually.
• Healthcare Sector’s Expenditure: Between 2020 and 2025, it is predicted that healthcare will spend around 125 billion US dollars on cyber security, which shows that it is in danger and needs better security tactics.

Cyber Security Trends

• Organizations are being urged to invest heavily in technologies that can detect vulnerabilities and security gaps early as the use of proactive security tools is becoming increasingly popular.
• Thus, the need for more rigid security measures in these areas will grow as regulatory scrutiny of IoT and embedded devices intensifies.
• Significantly, politically motivated hacktivist attacks target operational technology (OT) systems, meaning that there has to be an increased level of awareness about security and preparedness.
• Phishing remains a major threat among other social engineering attacks, emphasizing the need for constant vigilance and education.
• Retail/e-commerce, financial institutions, and technology services remain top targets, alongside other sectors where cybercriminals are highly active in deep and dark webs.
• Generative AI (GenAI) is beginning to play a more prominent role in cybersecurity, enhancing threat prevention and enabling security analysts to tackle more complex challenges.
• It is believed that by 2026, the worldwide market for zero-trust security models will have reached approximately $51.6 billion, which suggests a move toward tightening access limits and review techniques.
• The dramatic rise in ransomware attacks calls for prompt response and recovery plans that can minimize their effects.

Detected Cyberattacks Worldwide

(Reference: statista.com)

• As per cybersecurity statistics, Ransomware is the trendiest method of cyber threats detected worldwide, comprising around 70% of all occurrences as of October 2023.
• The second most common cyber attack was network breaches, with almost 19% On the other hand, data exfiltration appeared in a smaller number of detected cyber attacks.

Cybersecurity By Worldwide Industries

(Reference: statista.com)

• According to cybersecurity statistics, in 2023, most cyberattacks in major industries worldwide were committed against manufacturing. The sector contributed nearly 25 % of all incidents.
• Finances and insurance came second at about 18%, while professional, business, and consumer services ranked third with 15.4% of cyber security failures.
• On many occasions, healthcare is targeted by hackers. Between October last year and September this year, for instance, there were several attacks on different healthcare facilities across the globe, such as network breaches, application attacks, or malware. Additionally, this field also had the highest data breach cost, averaging up to almost 11 million U.S. dollars in recent years.
• As technology progresses, organizations have realized that becoming cyber secure is one of the successful aspects of competition.
• Consequently, an upward trend in cybersecurity statistics expenditures has been noted among firms over time.
• The world’s cyber security investment is expected to reach close to 283 billion U.S. dollars by 2024. Nearly all (90%) of those in charge of professional services and media and entertainment organizations anticipate an increase in their respective cyber security spending.

Spending On Cybersecurity

(Reference: statista.com)

• As per cybersecurity statistics, the industry will likely be worth more than $87 billion by 2024, reflecting steady increases in global cybersecurity expenditures since 2021.
• The shift to remote work for many businesses worldwide during the COVID-19 pandemic has resulted in dispersed IT systems and additional opportunities for cybercriminals to use.
• After the pandemic, IT professionals have noted a rise in cyberattacks, which underscores the need for enterprises to pay attention to cybersecurity to ensure operational continuity and data safety.
• Endpoint security, identity access management, data protection, and network security are some examples of key cyber security solutions. These are important technologies needed to protect sensitive information and critical systems against both internal and external threats. This demonstrates why it is essential to take a holistic approach in viewing cybersecurity, whereby different practices and technologies are combined to safeguard assets belonging to the company.

Average Cost of Data Breach Worldwide

(Reference: statista.com)

• According to cybersecurity statistics, data breaches are an average estimated cost of about 4.35 million U.S. dollars worldwide.
• Nevertheless, financial costs may fluctuate widely depending on factors such as area, type, and dimension of organization, etc.
• The healthcare domain’s average cost for data breaches is staggeringly high: 10.1 million bucks per breach.

Cybercrime Expected Statistics

(Reference: statista.com)

• In four years, the world will be hit with a much heavier bill for cybercrime than before. As Statista Market Insights estimates, it will be $9.22 trillion in 2024 and $13.82 trillion in 2028.
• On the other hand, Cybersecurity statistics explain that cybercrime consists of various forms of harm such as data destruction, stolen money, lost productivity, intellectual property theft, personal and financial data theft, embezzlement or fraud, business disruption after an attack as well as forensic investigations on networks recovery of systems and data or their deletion and even reputational loss.

Worldwide Cybersecurity Market Revenue

(Source: statista.com)

• The worldwide income in the cybersecurity industry is anticipated to increase progressively from 2024 to 2029, with an estimated growth of $86.2 billion (46.42 percent).
• Furthermore, by 2029, this expansion is forecasted to reach the zenith of $271.91 billion, indicating that there will be twelve continuous years of revenue upswing altogether.
• It is important to note that the cybersecurity market has been experiencing steady revenue increments over the past few years.

Market Size of Cybersecurity Industry

(Reference: ukwebhostreview.com)

• Cybersecurity problems affect numerous people and firms all the time, as before.
• Even though attacks are rampant, figures show that many organizations are still exposed to intruding hands, malware, or data loss.
• Understanding and introducing corrective actions are essential to countering those threats. Any company’s victory is based on embracing security best practices.
• Forecasts suggest that worldwide expenditure on cybersecurity would stimulate a surge of up to £177.55 billion.

Financial Cybersecurity Statistics

• In 2021, £4.76 trillion was consumed in combatting cybercrime.
• The average cost of a data breach will be £3.11 million as of 2019.
• So far, the Equifax data breach has cost over £3.18 billion.
• The average cost of a ransomware attack is £105,515 for businesses.
• In 2022, £106 billion was spent on cybersecurity globally.
• In 2017, the Wanna Cry virus caused as much as £3.17 billion in damages, affecting 100,000 organizations in 150 countries.
• To decrypt your files, Gandcab 5 will ask for a payment of £1,982.
• To comply with GDPR requirements, 88% spent more than £790,000 each.
• CNIL, a French data protection agency, fined Google £45.2 billion for violating GDPR rules.
• Companies have claimed to have invested above 7.14 billion dollars preparing them for GDPR.
• Annually, 50% of firms with a workforce exceeding 10,000 are expected to spend at least $70,000 on cybersecurity matters.

Cyberattacks By Region

(Reference: statista.com)

• In 2023, multipurpose malware, such as banking Trojans and botnets, was the most common individual type of cyber-attack worldwide.
• This accounted for 31% of all reported attacks worldwide, with 35% occurring in the Asia Pacific (APAC) region.
• After that, infostealers were second most frequent, especially in APAC, where they made up 15%.
• Mobile attacks had the least share across all regions, representing only 5-8% of all reported incidents.

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The Global Number of Cybercrime Incidents By Industry

(Source: statista.com)

• Worldwide there were over 30,000 cybercrime incidents detected between November 2022 and October 2023.
• Out of these, more than 900 cases were against small businesses.
• The most affected industry was public administration, with 12117 reported cases.
• The finance sector followed second, with the professional sector coming next. Both reported more than 2500 occurrences each.

Cybersecurity Investments and Trends

• With the rise of worrying computer crime, firms all over the world are increasing their spending on cybersecurity products.
• In 2023, global expenditures on cybersecurity were $180 billion, a 14% increase from 2022. Advanced threat detection and response systems, cloud security, and endpoint security prompted this increase.
• It’s predicted that by 2024, global cybersecurity spending will increase further to reach $210 billion, a 16.7% rise from last year.
• As organizations look for more advanced software programs to recognize and counteract possible threats in real time, the demand for artificial intelligence (AI) and machine learning (ML) will rise within the context of cyber security.
• A key trend expected to dominate in 2024 is the use of zero-trust security models, which presume that threats can be found both inside and outside a network. This means that strict identity verification will have to be carried out for every user and device trying to access resources to reduce the chances of unauthorized access.
• Also, as more organizations migrate their operations to the cloud, increasing attention is being paid to cloud security.
• In 2023, cloud security expenditures made up about 25% of all cybersecurity investments; this percentage is projected to grow to 30% by 2024. Keeping applications and data based on the cloud safe has become a priority for organizations over the next few years.

Conclusion

In the rapidly evolving field of cyberspace, cybersecurity is becoming increasingly complex and damaging. This has made companies invest heavily in cyberspace solutions because of the huge financial losses and reputational consequences resulting from these attack strategies. As per cybersecurity statistics, By 2024, it is estimated that global cybersecurity spending will reach up to $250 billion US dollars.

Hence, these firms must always be on guard and embrace novel measures to safeguard their information assets. As such, ransomware, malware, phishing, and social engineering, among others, are on the rise, leading to an increased focus on IT security worldwide.

Maitrayee Dey

Maitrayee, after completing her graduation in Electrical Engineering, transitioned into the world of writing following a series of technical roles. She specializes in technology and Artificial Intelligence, bringing her experience as an Academic Research Analyst and Freelance Writer, with a focus on education and healthcare under the Australian system. From an early age, writing and painting have been her passions, leading her to pursue a full-time career in writing. In addition to her professional endeavors, Maitrayee also manages a YouTube channel dedicated to cooking.

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