New cybersecurity threats from malware and phishing to SQL Injections have put the IT industry on high alert. Cybercrimes like document theft, ransomware, website spoofing, etc., have become increasingly common.
In this scenario, cybersecurity is an indispensable tool. While it’s essential for people who use the internet, it’s much more crucial for businesses and firms having remote or virtual workforces.
From cyber insurance and firewalls to antivirus software programs and more, companies invest heavily to protect confidential data and create a strong defense against cybercrimes and cybercriminals.
Listed below are 50 key cybersecurity facts and stats that we rounded up to help people and businesses avoid cyber-attacks and focus on keeping their confidential data secure and safe.
Editor’s Choice: Top 10 Influential Cybersecurity Stats
Here are the top ten key cybersecurity facts and statistics that you should know in 2022:
- The cybersecurity industry will be worth $334.6 B by 2026, increasing at an 8.7% compound annual growth rate (CAGR)
- Internet users across the world experienced 52M data breaches in the 2nd quarter of 2022
- Various cybersecurity stats show cyber criminals caused total damage of $6T in 2022 alone
- Hackers attack users every 39-seconds, on average
- Businesses will fall prey to ransomware attacks every 14-seconds
- On average, a small business or firm spends less than $500 per year on cyber security
- So far, cybercrimes have caused damages up to $2T
- Over 75% of targeted cyber attacks start with malicious emails
- According to the Federal Bureau of Investigation (FBI), there were more than 847,376 cybercrime complaints in 2021, a 7% rise from 2020
- The first half (first quarter) of 2021 witnessed a 102% increase in cyberattacks involving ransomware
Cybersecurity Market Stats
#1. $6 Trillion: The Global Cost Of Cybercrimes And Attacks
According to “Cybersecurity Ventures (a popular Cybercrime Magazine),” cybercrime can cost $10.5T annually to the world by 2025. It’s up from $6T (2021) and $3T (2015).
Increasing the overall cybersecurity expenditure is essential to meet and tackle the ever-growing cybersecurity threat.
#2. The Global Cybersecurity Industry Is Projected To Reach $334.6 B By 2026
The cybersecurity market value grows exponentially. Experts believe (and predict) that the cybersecurity market worth will grow threefold due to the increasing demand for cyber-security solutions and services.
#3. Microsoft Spends Almost $1B/Year On Cybersecurity
The American tech giant, Microsoft Corporation, continues to battle against growing cybersecurity attacks and threats. They spend approximately $1B annually to combat cybercrimes. However, this investment doesn’t include their additional expenditure on acquisitions in the cybersecurity industry.
#4. On Average, Small Companies Invest Less Than $500/Year In Cybersecurity
Small companies and firms are highly cautious about cyber security. Typically, they choose consumer-grade IoT security services and solutions.
Small businesses account for 13% of the worldwide cybersecurity market. Various cybersecurity stats show small companies are primary targets for cyber-criminals.
#5. American Multinational Investment Bank And Financial Services Holding Company, JPMorgan Chase, Invests Over $600M Annually In Cybersecurity
JPMorgan Chase, the US Banking Group, has more than 3000 employees in the cyber-security unit. Moreover, it has increased the cyber-security budget by $100M.
#6. Every Third Business In America Invested In Data Breach Coverage Or Liability Insurance Coverage
With specific and reliable insurance coverage, businesses can recover unexpected losses even when cybersecurity solutions and firewalls are disrupted.
According to one report, over 68% of companies don’t have credible insurance against data breaches, and 25% of businesses plan to invest heavily in it.
#7. Cyber Insurance Industry Is Projected To Reach $20b By 2025
The worldwide cyber insurance industry was valued at $7B in 2020. Experts predict the market will grow drastically to $20B by 2025, impacting US-based businesses the most.
#8. Businesses Give $500,000/Year To Hackers To Test Their System Defenses
Companies worldwide are willing to pay “White Hat” hackers a generous amount to test system defenses, so they become impregnable.
Many renowned companies like Tesla use hackers to strengthen their cybersecurity systems.
#9. One In Ten Small Companies Suffer Cyberattacks Every Year
Small to medium size businesses have to spend adequately on cybersecurity as they are easy and soft targets.
#10. Every 14-Second Ransomware Attack Happen
Ransomware attacks are common cybersecurity threats used by cybercriminals. As per Cybersecurity Ventures, it’s the most profitable malware in history. They are more common and pose significant threats to all kinds of businesses.
#11. Cyberattacks Occur Every 39-Second
Numerous cybersecurity stats prove that unsecured systems can be a vulnerable target of over 2000 attacks per day. Hackers and other cybercriminals employ automated scripts and tools to investigate targets for soft spots.
#12. Only 10% Of Cyberattacks Are Reported
Even though the US is home to several world’s leading tech giant companies, the number of reported cybercrimes is incredibly low.
For example, only 10% of cyberattacks are reported within the US. One possible reason could be it’s difficult to prove an attack has happened.
#13. Cybersecurity Statistics Show That America Will Be The Primary Target Of Over 50% Of Cyberattacks By 2027
America experienced 46% of cyberattacks in 2020. Cybersecurity experts predict that the country will remain vulnerable in the next five years and may encounter over 50% cyberattacks. US-based tech companies should reinforce their security against cybercrimes if that’s the case.
#14. The First Ransomware-Related Death Occurred At A German Hospital
A patient died at a German hospital when ransomware hackers attacked it. It was the first reported death linked directly to the cyberattack.
#15. Over 90% Of Successful Cyberattacks Start With Phishing Emails
More and more cybersecurity stats show that phishing remains a popular type of cybercrime. It works most of the time for many cybercriminals as it exploits people.
#16. 37% Of Data Breaches Involved Some Phishing Activity
Businesses face all kinds of cybersecurity threats. Over one-third (37%) of the cybercrimes experienced by companies, both small and big, are caused by phishing.
#17. Bitcoin (BTC) Leads To Illicit Activities Valued At $76B Per Year
Although Bitcoin (BTC) is an increasingly popular Cryptocurrency worldwide, it has seen various malicious and cyber violence activities.
Crypto transactions provide anonymity – a perfect recipe for people doing illegal activities. Many experts believe that one-quarter (25%) of BTC users are (or have been)involved in illicit activities.
#18. The Largest DDoS Attack Resulted In The Transmission Of 1.3 Terabytes (Data) Per Second
GitHub – the popular internet hosting service for version control and software development – experienced a major DDoS attack. Cybercriminals transferred approximately 1.3 Terabytes per second.
#19. 76% of Breaches Are Largely Financially Motivated
About 76% of data breaches in a business are financially motivated. Credentials and personal details are commonly targeted in data breaches.
#20. DDoS Threats Are 39% More Common Than Ever
Nowadays, more and more cybercriminals use DDoS attacks. There’s a staggering increase of 776% in DDoS attacks between 100 and 400 Gbps in size in one year. Usually, these attacks target wireless and satellite communication companies.
#21. Cybercriminals Only Need $1 To Acquire The Necessary Tools
Hackers and other cybercriminals can acquire malware kits for only $1. They only require $25 to obtain millions of compromised emails/passwords. Several other hacking kits and tools can cost anywhere from $50 to $250 or more.
#22. Around 82% Of Breaches Involve Human Element
According to the “2022 Data Breach Investigation” report by Verizon, the human element (such as social attacks, misuse, or errors) is the sole responsible for over 82% of breaches.
Cybercrime Damage And Cost Stats
#23. On Average, Businesses Lose $188,400/Per Year Due To Cyberattacks
No matter the business – big or small – they lose a significant portion of the money, time, and effort to fight against cybercrime attacks. While they lose $188,400 annually due to cyberattacks, 97% of small businesses cover their expenditures thanks to cyber insurance.
#24. US-Based Companies Are More Willing To Fight Against The Threat Than To Pay The Ransom Amount
Many small and big companies in America aren’t willing to negotiate with terrorists/hackers even when facing cyber-attacks. According to one report, 25% of US-based businesses paid the ransom in the aftermath of a cyberattack.
#25. NotPetya Cyberattack Cost Fedex At Least $300M
Delivery company, FedEx Corporation, suffered a cyberattack that cost it approximately $300M. When it experienced the breach, the stocks plunged 79% per share.
#26. Atlanta’s Cyberattack Cost Taxpayers Around $17M In Recovery
Atlanta city suffered a SamSam ransomware attack, arguably one of the costliest security incidents. Cybercriminals demanded $51,000, but the offer was refused.
The initial damage was predicted to be around $3M; however, it increased sixfold as the compromised information contained a major portion of the city’s programs and police records.
#27. The Healthcare Market Is Projected To Spend $125B On Cybersecurity
Ransomware attacks on the healthcare market increased dramatically over the past few years. The healthcare market will spend $125B on cybersecurity services and solutions between 2020 and 2025.
#28. Formjacking Attacks Yield $2.2M Per Month
According to the Symantec States, about 4800 unique sites experience form jacking attacks each month. These attacks help cybercriminals steal credentials such as login or credit/debit card details, etc.
Data Breach Facts And Statistics
#29. Data Breach Average Cost Rose To $4.35M In 2022
As cyber insurance investments are growing, so are the incidents of data breaches. The average data breach cost has increased from $4.2M (2021) to $4.35M (2022).
#30. The Biggest Data Breach Compromised 3B User Accounts
In 2017, Yahoo experienced the biggest data breach ever recorded. Many experts call it the most prominent security breach event in history.
#31. Meta (Formerly Facebook) Suffered A Data Breach
Previously known as Facebook, Meta also experienced a major security breach. The attack made account details such as names, user IDs, reactions, and comments publicly available. Around 50M of Meta users’ accounts were attacked and left exposed.
#32. Cybersecurity Stats Show 95 User Logins Are Stolen Per Second
Whether through malware or data breaches, over 3B passwords, user names, and other login details are stolen or compromised every year. Services such as e-banking now require routine password updates.
Many experts suggest users should have various passwords for different apps or websites.
Interesting Facts And Statistics About Cybersecurity
Here are a few quick, interesting facts and stats about cybercrimes and cybersecurity:
- According to one report, 68% of companies believe their cyber security threats and risks are rising
- Only 5% of business folders are protected properly
- Over 54% of businesses admit their IT teams and departments aren’t equipped enough to manage advanced cyberattacks
- Apathy to defend against cybercrimes or cyber fatigue affects 42% of companies, on average
- According to the “2020 Cloud Security Report”, 43% of data breaches involve insider threats, either unintentional or intentional
- In 2021, there were over 4000 publicly disclosed data breaches, exposing more than 22B records
- About 70% of data breaches were financially backed, while fewer than 5% were espionage motivated
- Almost 40% of data breaches that occurred in 2021 involved phishing, while 11% involved malware and 22% hacking
- The most common and malicious types of email attachments include .dot and .doc, making up 37% of malicious attachments in spam
- More than 300B passwords are employed by machines and humans worldwide
- About 40% of the global population is offline, which makes them a soft target for a range of cyberattacks when they connect
- On average, the time required to detect a breach is 287-days
- 45% of data breaches involved personal data
- 56% of Americans lack knowledge about steps they should take following a data breach
- More than 69% of companies say their antivirus programs are useless against new and modern cyber threats
- Financial service companies take 233-days, on average, to detect data breaches
- Financial data breaches make up for 10% of all cyber attacks
- Over 41% of businesses have 1000+ confidential files open and accessible to all employees
Frequently Asked Questions (FAQs)
Around 1,900 cyberattacks occurred in America last year.
According to one report, more than 30,000 sites experience data breaches or forms of cyberattacks daily.
China has the most hackers worldwide, followed by the United States.
Cybercrime and threats are real and should be dealt with timely and accordingly. By evaluating your cybersecurity risks, initiating essential changes, and enhancing data protection, you can guard your business against all sorts of data breaches.