50+ Alarming Cybersecurity Statistics 2023 Facts and Trends That Users Need To Know
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Cybersecurity Statistics: Nowadays the threats of document theft and other cybercrimes have become more prevalent than ever. In such a scenario, cybersecurity has become a ‘must-have’ tool for internet users. Cybersecurity is vital for everyone who uses the internet; however, it is especially critical for firms and businesses that have a remote workforce. Many companies invest in antivirus software, firewalls, and cyber insurance to protect their private data and to build their defense against cyber criminals. Here we will discuss some crucial cybersecurity statistics and facts that will help people avoid cyber threats and pivot their online behavior to keep their confidential data safe and secured.
Key Cybersecurity Statistics (Editor’s Choice)
- The cybersecurity market is predicted to reach up to $300 billion by 2026.
- Due to the pandemic, nearly 60 percent of internet users have reported an elevated risk of a data breach.
- Cybersecurity statistics show that the total damage caused by cybercriminals is expected to reach $6 trillion in 2022.
- Every 39 seconds one cyber attack takes place worldwide.
- Globally one ransomware attack occurs every 14 seconds.
- Cybersecurity stats reveal that small firms invest less than $500 on cybersecurity on average.
- Cybercrimes have led to damages worth $2 trillion so far.
- The FBI got more than 2000 cybercrime complaints in 2020.
- In the first quarter of 2021, there was an increase of 102 percent in cybercrimes related to ransomware attacks.
- More than 75 percent of targeted cybercrimes begin with a malicious email.
- As of 2023, according to reports, more than 54% of the companies with $5 billion or more revenue are spending around $250 million on cybersecurity every year.
- Whereas, 71% of the companies are spending less than $250 million each year.
- By September 2023, 91% of companies around the world reported at least one cyber incident or breach.
- Out of which, 56% of the companies reported a severe or moderate level of consequences.
- 55% of the companies said, having cybersecurity policies helps them to try out new things with confidence.
- In 2023, the most common data breaches were recorded through T-Mobile.
- Back in 2013, Yahoo experienced one of the largest cybersecurity breaches affecting 500 million accounts.
- Companies spending on employee training on security awareness in global terms is expected to value more than $10 billion by 2027, which is currently (2023) valued at $5.6 billion.
- In 2023, there will be around 3.5 million unfilled cybersecurity jobs around the world.
- Furthermore, by 2025, cybercrime costs are expected to reach $10.5 trillion globally.
- One of the major reasons that causes cyberattacks is insufficient security measures.
- On average, it requires 197 days to discover any breach. Recovering any loss that occurred during this within 30 days could save #.09 million, and if exceeded it could reach $4.25 million.
Cybersecurity Market Statistics
#1. Global expenditure on cybersecurity reached $6 trillion in 2021
According to Cybersecurity Ventures, Cybercrime is expected to cost the entire world $10.5 Trillion annually by 2025. This is up from $3 Trillion a decade ago, and $6 Trillion in 2021. It will be vital that cybersecurity spending continues to grow in proportion to this increase.
#2. The worldwide cybersecurity market is estimated to reach up to $300 billion by 2026
The value of the cybersecurity market is growing rapidly. Experts predict that it can easily grow by two or threefold in the next three years as the demand for cybersecurity services and solutions is growing.
(Source: Research And Market)
#3. Tech giant Microsoft spends nearly $1 billion per year on cybersecurity
Considering the greatest challenge of the digital age, Microsoft continues to fight against modern-day cybersecurity threats. This investment of the tech giant does not include the company’s extra expenditure on acquisitions in the cybersecurity market.
#4. Small firms invest fewer than $500 in cybersecurity on average
Small firms are too cautious about cybersecurity. They generally opt for consumer-grade security services. Small firms account for 13 percent of the cybersecurity market. Cybersecurity statistics show that small businesses are lucrative targets for cybercriminals.
#5. JPMorgan Chase invests around $600 million in cybersecurity services per year
JPMorgan has over 3,000 workers in its cybersecurity unit. The company has increased its yearly cybersecurity budget by 100 million.
#6. Every third company in the US has invested in liability coverage or cyber data breach insurance coverage
With specialized insurance coverage, companies can recover their losses, even if firewalls and cybersecurity solutions are disrupted somehow. As per cybersecurity statistics, around 68 percent of firms still do not have such insurance coverage and 25 percent of firms are planning to invest in it.
#7. The Cyber Insurance market is expected to reach $20 billion in the next three years
Experts estimate that the cyber insurance market will surpass the $20 billion mark in another five years and the majority of growth will be led by firms based in the US.
#8. Firms give up to $500000 to hackers to test their systems
People widely known as ‘White Hat’ hackers do not utilize their skills for immoral purposes rather they help companies such as Tesla to toughen their security systems.
Cybercrime Statistics
#9. 1 out of 10 small firms experiences a cyber attack per year
Cybersecurity statistics show that small businesses need to spend on cybersecurity, as small firms are easy targets of cyber criminals.
#10. Every 14 seconds a ransomware attack takes place
According to Cybersecurity Ventures, Ransomware is the most lucrative type of malware. Ransomware attacks are more prevalent now than ever.
#11. Every 39 seconds a cyber attack takes place
The latest cybersecurity statistics show that an unsecured system connected to the internet can be a target of more than 2,000 cyber attacks each day. Hackers use automated tools and scripts to investigate their targets for susceptibilities.
(According to Cybersecurity Ventures)
#12. Only 10 percent of cybercrimes are reported in the US
Despite being the home of many tech giants and a huge part of the internet industry, only 10 percent of cybercrimes are reported in the United States. It happens because often it is hard to prove that cybercrime has taken place.
#13. Cybersecurity stats show that the US will be a lucrative target for more than 50 percent of cybercrime attacks by 2027
Cybersecurity predictions reveal that the US going to be a soft target for more than half of cybercrime attacks in another five years, hence US-based companies should consider reinforcing their protection against cyber threats.
#14. The first reported death due to a ransomware attack took place at a hospital in Germany
In September 2020, the first known death due to a ransomware attack happened after a ransomware-led IT failure occurred at a hospital in Dusseldorf, Germany.
#15. More than 90 percent of successful cyber attacks against trades are generated from phishing
The latest cybersecurity statistics indicate that phishing is still one of the most popular types of cyber attack. It works for most cyber criminals because it exploits human nature.
#16. Phishing contributes to 37 percent of all cybercrime attacks targeted at businesses
More than one-third of all cybercrime attacks endured by firms are led by phishing.
#17. Bitcoin leads to illegal activities worth $76 billion each year
Bitcoin is the most popular cryptocurrency in the world; however, it has witnessed its own share of cyber violence and malicious activities. Crypto transactions offer anonymity, which is an enviable factor when somebody is doing something illegal. Experts say that at least one-quarter of total Bitcoin users have been involved in illegal activities at least once.
#18. The biggest DDoS attack led to the transfer of 1.3 TB of data per second
Software depository platform GitHub suffered a massive DDoS attack in 2018. In this cyber attack, cyber criminals transferred around 1.3 TB of data every second.
#19. Data breaches are mostly financially motivated
Credentials are one of the most popular data forms in data breach incidents, which is followed by personal details.
#20. DDoS attacks are 39 percent more prevalent than the last year
The latest cybersecurity statistics show that cybercriminals are using DDoS attacks more often than ever. There has been a 776 percent increase in such kinds of attacks that have used 100-400 Gbps of data within a year. DDoS attacks usually target satellites and wireless communication firms.
#21. Cybercriminals need only $1 to obtain their tools
Hackers can obtain a simple malware kit for just $1. Hackers need only $25 to get a million compromised emails or passwords. Many other hacking tools and kits cost only a few hundred dollars.
#22. Around 85 percent of data breaches are led by a human element
#23. During data breaches, external cloud data are more at risk as compared to on-premise assets.
Cybercrime Cost And Damage Statistics
#24. The annual damage led by cybercrimes is predicted to reach $10.5 trillion by 2025
The yearly damage caused by cybercrime attacks is expected to reach $6 trillion in 2022. Experts say that cyber security threats have already led to damage worth $2 trillion so far.
(According to Cybersecurity Ventures)
#25. Companies lose around $188400 per year on average due to cybercrime attacks
Big and small businesses lose a large portion of their time and money fighting against such cybercrime attacks. Around 97 percent of small firms have been able to cover their costs as they have been secured by cyber insurance.
#26. Companies based in the US are less likely to give away a ransom amount to hackers
Most companies in the US follow the mantra of not negotiating with terrorists. As per cybersecurity statistics, only 3 percent of US-based firms have paid ransom amounts to cyber criminals.
#27. FedEx lost $300 million in damages after a ransomware attack
When FedEx suffered a cybersecurity breach, its stock fell by 79 percent per share.
#28 The city of Atlanta lost around $17 million in recovery after suffering a ransomware attack
SamSam ransomware attackers demanded a payment of $51000 that was refused by the city. Initial damage from this attack was predicted at $3 million, however, it grew sixfold as some part of the compromised data involved police records and one-third of the city’s programs.
#29. The healthcare industry is estimated to spend $125 billion on cybersecurity services from 2020 to 2025
In 2018, every other ransomware attack targeted the healthcare sector. Hackers have been attacking the healthcare sector more frequently. Sourced from Cybersecurity Ventures.
#30. Formjacking attacks account for damages worth $2.2 million each month
Around 4800 websites suffer from jacking attacks every month. Such attacks help cyber criminals steal users’ data like credit card details, logins, and password credentials.
#31. As per cybersecurity stats, 47 percent of cybercrime victims lose money after being attacked by a cybercrime.
#32. Victims of infected business and personal email accounts suffered a loss of $1.86 billion in 2021.
Data Breach Statistics And Facts
#33. Experts estimated that a data breach would cost damage worth $13 million in 2021 on average
Although investments in cyber insurance are growing, data breaches as well will continue to increase in the forthcoming years.
#34. The greatest data breach in history compromised 3 billion user accounts
Yahoo suffered a massive data breach attack that was reported in 2017. As per cybersecurity stats, it is the biggest security breach incident in history.
#35. Facebook also suffered a security breach recently
In 2019, one of the most popular social networking platforms, Facebook experienced a major security breach. This attack on Facebook made account names, comments, user IDs, and reactions publicly available. Experts found that the passwords of around 600 million FB accounts had been stored as plain text files after the security breach.
#36. Cybersecurity statistics show that around 95 user credentials are stolen each second
More than 3 billion passwords and other credentials are compromised or stolen per year whether through data breaches or malware. Services like e-banking now need regular password updates. Experts suggest that people should have different passwords for each website or app.
Interesting Facts About Cybersecurity
#37. The US Colonial Pipeline made a $5 million Bitcoin payment to hackers after suffering a VPN attack in April 2021.
This attack affected the multi-factor authentication system of the company.
#38. Spam has been the most sought-after type of cyber threat leveraging the COVID-19 pandemic
Spam emails accounted for 65.7 percent of online threats linked to the COVID-19 pandemic.
#39. 44 percent of adults felt more vulnerable to cyber attacks during the COVID-19 pandemic as compared to pre-COVID times
Due to the changes in lifestyle during the pandemic, nearly two out of five adults took measures to protect their online activities and personal details.
#40. FBI saw a 300 percent increase in reported cybercrime attacks since COVID-19
These cyber-attacks included ransomware attacks that demand cryptocurrency payment.
#41. Most firms do not think they are adequately protected from cybercrime attacks
As per a survey, more than half of surveyed firms have shown concerns regarding the safety of their data. The majority of firms think that they require more robust protection against cyber attacks.
#42. Despite greater security concerns, the most frequent password is 123456
Most passwords are quite easy to crack. Cybersecurity facts reveal that common and obvious passwords remain major concerns.
#43. Apart from financial loss, a cybercrime attack can damage a company’s reputation as well
Cyber attacks can hamper the public image of the company as well along with affecting its employees and clients due to data breaches.
#44. Nearly 58 percent of firms have more than 100,000 unprotected folders
Network firewalls are the basic line of defense. If companies have enough protection for additional folders, hackers cannot do much even if they break through the company’s system. However, about 60 percent of firms have much scope for huge preventable vulnerability.
#45. Every third user account is recognized as a stale account
Even if an employee leaves the company, their account remains active for a long time. It is known as a stale account. Such stale accounts work as a potential entry point for cybercriminals.
#46. Around 4 out of 10 firms carry more than 1000 unprotected sensitive files on their servers
Many companies have not properly protected their sensitive files such as health records, credit card numbers, and Social Security numbers. Such files pose a great security risk.
#47. Only one out of 5 people in the US update their passwords after hacking is shown in news reports
Most people do not change their passwords until they find it hard to recall. Only 20 percent of people in the US change their passwords after knowing about security breach attacks.
#48. More than 60 percent of firms account for more than 1,000 stale user accounts
It can be risky for companies to retain thousands of obsolete user accounts.
#49. IoT devices can be compromised just minutes after they are connected to the internet
IoT devices such as smart TVs, cars, speakers, and thermostats are not as safe as we think. Cybersecurity statistics show that such devices are the easiest entry spots for cybercriminals. IoT devices do not have any integrated protection; therefore, network firewalls are the best option available.
#50. Users should avoid using third-party app stores for malware-free smartphone
Human error remains the most popular cause of security breaches. Users should use the manufacturers’ app only to keep their smartphones safe from hackers.
#51. There are five kinds of cybersecurity available
Protecting critical infrastructure, network security, cloud security, computer applications, and IoT security are five forms of cybersecurity.
#52. 53 percent of adults believe that remote work has helped cyber criminals and hackers to take advantage of people.
#53. Cloud-based storage and apps also require proper defense against hackers.
Sources
FAQ.
Around 2000 cybercrime complaints were reported in the US in 2021.
More than 2200 cybercrime attacks take place each day. Around one cybercrime attack occurs every 39 seconds.
Reportedly, the majority of hackers are from China and Turkey.
As per the 2021 cybersecurity statistics, phishing is the most common form of the cyber attack reported in the US.
Healthcare and pharmaceuticals, public administration, finance and insurance, education and research, and retail are five industries that are at a higher risk of cybercrime attacks.
Barry is a lover of everything technology. Figuring out how the software works and creating content to shed more light on the value it offers users is his favorite pastime. When not evaluating apps or programs, he's busy trying out new healthy recipes, doing yoga, meditating, or taking nature walks with his little one.
