Cybersecurity is becoming a rising concern for businesses of all kinds. With each passing day, hackers continue to compromise company data and systems with reasonable ease. This is happening because organizations continue to lack cybersecurity awareness and utilize poor practices that result in their data being unprotected and vulnerable to theft and breaches.
Operating distant workforces, the growing cybersecurity skills gap, and the growth of linked and Internet-of-Things (IoT) equipment that are particularly vulnerable to cyber attacks have all compounded the situation.
In addition, the ongoing COVID-19 pandemic has had a significant impact on cybersecurity as well. Scams on the internet increased by more than 600%, and Google claimed that it was blocking over 18 million malware and phishing emails relating to COVID-19 every day.
According to Gartner, company spending on cybersecurity is predicted to reach $170.4 billion by 2022.
The cybersecurity stats below provide information on the growing threat of cyber crime, the primary hazards that businesses face, and the size of the cybersecurity industry. We'll also look at some of the most important cybersecurity statistics related to ransomware, phishing, IoT devices, small and medium businesses and the impact of COVID-19 on the cybersecurity landscape.
Cybersecurity Stats That Matter in 2022: Cost of Cyber Crime1. According to Brand Essence Research, the global cybersecurity market will be worth $403 billion by 2027, with a compound annual growth rate (CAGR) of 12.5%.
2. Cybercrime is expected to cost businesses globally $10.5 trillion per year by 2025, up from $3 trillion in 2015. Cybercrime, according to Cybersecurity Ventures, constitutes the greatest transfer of economic value in history, with a growth rate of 15% year over year.
3. According to IBM's Cost of a Data Breach report, the United States has the highest data breach expenses in the world, with the average incident costing $8.6 million.
4. According to an IBM study, finding and containing the average hack takes 280 days, and the average attack costs $4.24 million - the highest ever in history.
5. IBM also highlights that, while not constantly towards the top of the "most breached" rankings, the healthcare business suffered the most in terms of breach costs.
Cybersecurity Stats That Matter in 2022: Ransomware
6. According to Cybersecurity Ventures, ransomware costs are expected to reach $265 billion by 2031. The study also highlights that a new ransomware attack will occur every 2 seconds as ransomware authors improve their virus payloads and related extortion activities.
7. In 2021, the average monthly amount of reported ransomware transactions was $102.3 million.
8. The US Treasury announced that $5.2 billion in BitCoin transactions have been linked to ransomware payments. FinCEN, the US Treasury Department's financial crimes investigation section, reported that it has discovered about $5.2 billion in departing Bitcoin transactions that could be linked to ransomware payments.
Cybersecurity Stats That Matter in 2022: IoT and Connected Devices
9. By 2025, according to IDC, there will be 55.7 billion connected devices, with 75% of those connected to the Internet of Things. IDC also predicts that by 2025, IoT devices will produce 73.1 zettabytes of data, up from 18.3 zettabytes in 2019.
10. According to a Cyber Magazine report, IoT devices are subjected to an average of 5,200 cyber-attacks per month.
11. According to a Comcast research, the typical family receives 104 threats per month. Laptops, PCs, smartphones and tablets, networked cameras and storage devices, and streaming video devices are among the most vulnerable devices, according to a recent analysis.
Cybersecurity Stats That Matter in 2022: COVID-19 and its Aftermath
12. In the aftermath of the COVID-19 epidemic, cybercrime has increased by 600%. Many fraudsters are increasingly impersonating the Centers for Disease Control and Prevention (CDC) or the World Health Organization (WHO) in order to get access and fool victims into doing things like clicking on suspicious links or downloading dangerous attachments.
13. The average cost of a data breach has risen by $137,000 because of remote employment. Employees at home do not have the same level of security as they do at work, making them more exposed to cyberattacks.
14. More than 500,000 Zoom user accounts were hacked and sold on the black market. Because of the high popularity of Zoom as a video conferencing network for businesses, cyber thieves have begun targeting its users.
Cybersecurity Stats That Matter in 2022: Phishing
15. Phishing is the top "action variety" seen in breaches in the last year, according to Verizon's 2021 Data Breach Investigations Report (DBIR), with phishing and/or pretexting accounting for 43% of breaches. The frequency of attacks varies by industry, but in 2021, 75% of firms around the world will have encountered a phishing attempt. Another 35% were victims of spear phishing, and 65% were victims of BEC (Business Email Compromise) attacks.
16. When it came to targeted attacks, spear phishing was the predominant infection channel for 65% of active groups. Watering hole websites (23%) are followed by trojanized software updates (5%), web server exploits (2%), and data storage devices (1%).
17. The cost of a data breach is ranked by IBM's 2021 research, which assesses the causes of data breaches according to the expenses they inflict on enterprises. According to IBM, phishing is the second most expensive cause of data breaches, costing firms an average of $4.65 million each breach.
18. According to the results of Terranova Security's Gone Phishing Tournament, nearly 20% of all employees are likely to click on phishing email links, with 67.5% of those clicking on phishing websites and entering their credentials.
Cybersecurity Stats That Matter in 2022: Small and Medium Businesses
19. Cyber attacks are growing more common, targeted, and complex for all businesses, but especially small and medium-sized businesses. According to Accenture's Cost of Cybercrime Study, small businesses are the target of 43% of cyber attacks, yet only 14% are prepared to defend themselves.
20. The most common attack vectors for small businesses include:
- Phishing/Social Engineering: 57%
- Stolen/Compromised Devices: 33%
- Credential Theft: 30%
As the incidence of cybercrime increases, it's more crucial than ever to examine the current cybersecurity statistics and trends in order to understand the diabolical and illegal methods in which data breaches occur and take steps to protect your business.
These types of cybersecurity statistics are critical in assisting individuals and companies in understanding the issues and concerns they encounter. Cybersecurity insights are also important for understanding frequent security pitfalls that render firms vulnerable to attacks, such as leaving data exposed and using weak passwords.
Users and corporate leaders should be aware of cybersecurity statistics, and organizations should create training programmes that instill awareness, prevention, and best practices in their culture.