119 Impressive Cybersecurity Statistics: 2021/2022 Data & Market Analysis
Cybercrimes are now an everyday concern for businesses. Cybersecurity statistics indicate a significant rise in data breaches and hacking, most of which involve workplace devices. Many organizations have poor security practices, making them vulnerable to cyber threats. And this is exacerbated by the presence of a global pandemic.
We’ve gathered 101 cybersecurity industry statistics so you’ll know the state of today’s cybersecurity and provide a compelling case to have a more proactive mindset in protecting your company systems and information. We’ve also included a shortlist of the best IT security software on the market to help you get started on your cybersecurity efforts.
Impressive Cybersecurity Statistics Table of Contents
As more and more things get connected to the internet, the importance of cybersecurity will continue to expand at break-neck speed. Given this favorable business scenario, these cybersecurity market size and growth statistics are likely to further progress.
The global cybersecurity market was valued at $156.24 billion in 2020 (Mordor Intelligence, 2020).
The global cybersecurity market is expected to be worth $352.25 billion, with an annual growth rate of 14.5%, by 2026 (Mordor Intelligence, 2020).
Furthermore, according to a study by P&S Intelligence, the value of the global cybersecurity market is expected to reach $433.6 billion by 2030, inclusive of the impact of COVID-19 (P&S Intelligence, 2020).
Losses from cybercrime damages are expected to reach $6 trillion by 2021 (Cybercrime Magazine, 2020).
Cybercrimes cost the world nearly $600 billion each year, equivalent to 0.8% of the global GDP (Mordor Intelligence, 2020).
Global spending on security products amounted to $125.2 billion in 2020, registering a 6% increase over 2019 (IDC, 2020).
Global spending on security products and services is slated to reach $174.7 billion by 2024, with a CAGR of 8.1% from 2020 to 2024 (IDC, 2020).
The three sectors with the biggest spending on cybersecurity are banking, manufacturing, and the federal/central government, accounting for 30% of overall spending (IDC, 2020).
The industries that registered the highest growth in cybersecurity spending in 2020 are the federal/central government (10%), local government (8.9%), and banking (8.5%) (IDC, 2020).
The global cyber insurance market was valued at $7.7 billion in 2020 and is projected to grow to $20.4 billion by 2025 at a CAGR of 21.2% (MarketsandMarkets, 2020).
55% of business executives plan to increase their budgets for cybersecurity in 2021 (Forbes, 2020).
Security services are expected to be the security market’s fastest-growing segment in 2021, with a CAGR of 10.5% from 2020 until 2024 (Forbes, 2020).
The cyber liability insurance market in the US was valued at $2.7 billion in 2020 (IBISWorld, 2020).
Cybersecurity companies not headquartered in the US are set to increase funding by 20% (Forbes, 2020).
In Europe, the countries whose firms have the biggest cybersecurity expenditures are France ($3.1 billion), Spain ($2.6 billion), Germany ($2.2 billion), United Kingdom ($1.5 billion), Netherlands ($1.3 billion), and Belgium ($1.3 billion) (Hiscox, 2020).
According to Comparitech’s 2020 study, the most cyber secure countries in the world, based on cyberattack vulnerability score, are Denmark (6.72), Sweden (8.40), Germany (9.39), Ireland (9.40), and Japan (9.46) (Comparitech, 2021).
On the other hand, the least cyber secure countries in the world, based on cyberattack vulnerability score, are Algeria (48.99), Tajikistan (48.54), Turkmenistan (48.39), Syria (44.51), and Iran (43.48) (Comparitech, 2021).
The three largest cybersecurity vendors in terms of total investment are from the US: Cisco (9.1%), Palo Alto Networks (7.8%), and Fortinet (5.9%) (Canalys, 2020).
Israel has the fourth biggest cybersecurity vendor in the world in terms of investment and the biggest outside of the US with Checkpoint, which has a share of 5.4% (Canalys, 2020).
The US federal government’s demand for cybersecurity technology is expected to rise from $10.9 billion in 2018 to over $14.1 billion in 2023. (GovWin, 2018)
Meanwhile, the US president’s cybersecurity budget for 2021 is $18.8 billion (Govinfo, 2021).
The country with the highest rate of mobile devices infected with malware is Iran at 52.68% (Comparitech, 2021).
India accounts for 37% of data breaches globally in regard to compromised and/or stolen records (Mordor Intelligence, 2020).
Source: Comparitech 2020
This pace of cybersecurity growth is likely to continue in the upcoming years as industries invest heavily in security solutions to meet the ever-expanding range of threats and requirements.
2. Cybercrime Statistics
One of the most serious challenges that the modern world must deal with in the short- and long-term is criminal activity. Some cybersecurity reports suggest that the fastest rising crime in the US and among the fastest in the world is cybercrime (The National Law Review, 2020; World Economic Forum, 2020).
Global cybercrime damage in 2021 amounts to $16.4 billion a day, $684.9 million an hour, $11 million per minute, and $190,000 per second (Cybercrime Magazine, 2020).
A total internet shutdown would lead to a GDP loss of 1.9% daily for a country with high connectivity and a daily loss of 0.4% for a low-connectivity country (World Economic Forum, 2020).
The likelihood of detecting and prosecuting the perpetrators of cyberattacks in the US is at a dismal 0.05% (World Economic Forum, 2020).
70% of cryptocurrency transactions will be connected to or used for illegal activities by 2021 (Cybercrime Magazine, 2020).
Attacks on IoT devices soared by 300% in 2019 (World Economic Forum, 2020).
As of April 2021, the FBI’s Cyber’s Most Wanted List included 102 notorious criminals known to have committed a string of cybercrimes that have endangered and cost people and organizations billions of dollars (FBI, 2021).
16% of organizations received more than 100,000 daily security alerts in 2020 (Cisco, 2020).
The volume of cybersecurity data involving cybercrimes worldwide will continue to grow exponentially. This is why to help effectively combat cybercrimes, businesses must have a least one of the best IT security software platforms.
Ransomware damage worldwide is expected to reach $21 billion by 2021 (Cybersecurity Ventures, 2021).
The most common cyber attacks experienced by US companies are phishing (38%), network intrusion (32%), inadvertent disclosure (12%), stolen/lost devices or records (8%), and system misconfiguration (5%) (BakerHostetler, 2020).
In 2019, the industries most targeted by malware attacks include the public sector (4,346 incidents), the professional sector (1,168 incidents), manufacturing companies (465 incidents), information firms (420 incidents), and healthcare companies (206 incidents). (Verizon, 2020)
Meanwhile, for phishing attacks, the most targeted online industries are SaaS (34.7%), financial institutions (18%), payment gateways (11.8%), social media networks (10.8%), ecommerce (7.5%), logistics (3.5%), and cloud storages (2.9%). (APWG, 2020)
For organizations infected with ransomware, the average ransom payment is $233,817.30, which can be paid using cryptocurrency (Sophos, 2021).
The total cost of illegal ads on online and mobile devices is expected to reach $44 billion by 2022. (Juniper Research, 2019)
59% of buyers are likely to avoid companies that suffered from a cyberattack in the past year (Arcserve, 2020).
Every 11 seconds, a business falls victim to a ransomware attack (Arcserve, 2020).
70% of consumers feel that businesses haven’t done enough to safeguard their personal information (Arcserve, 2020).
25% of buyers tend to abandon products and services in favor of competitors upon knowing of a cyberattack (Arcserve, 2020).
Over 50% of all cyberattacks target small- to medium-sized enterprises (Cybersecurity Ventures, 2021).
As such, 60% of SMBs that suffer from hacking or a data breach fold within six months (Cybersecurity Ventures, 2021).
The average cost of a data breach in 2020 is $3.86 million (IBM, 2020).
The huge increase in cybercrimes is a major contributor to the 12% CAGR of cybersecurity IT spending (Forbes, 2020).
The United States has the world’s highest average data breach cost at $8.64 million (IBM, 2020).
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Most Common Cyberattacks Experienced by US Companies
Most Common Cyberattacks Experienced by US Companies Phishing: 38
Most Common Cyberattacks Experienced by US Companies Network intrusion: 32
Most Common Cyberattacks Experienced by US Companies Inadvertent disclosure: 12
Most Common Cyberattacks Experienced by US Companies Stolen/lost device or records: 8
Stolen/lost device or records
Most Common Cyberattacks Experienced by US Companies System misconfiguration: 5
Source: BakerHostetler 2020
Most Popular IT Security Software
Norton Security is an industry-leading antivirus and security software that offers multi-layered data protection for your devices. It comes with a smart firewall that monitors your communication with other computers to block unauthorized traffic.
Cloudflare is an integrated cloud security platform that provides firewall, DDoS protection, bot management, and VPN services. Its advanced security features protect and accelerate Internet properties and can scale to on-premise and data center networks.
Avira Antivirus Server offers resource-light security that helps protect your servers and stops viruses from spreading. It has a premium cloud management console that lets you monitor the security of your devices.
Malwarebytes ensures that your files and devices have strong and real-time protection against cyber threats. It uses a powerful security technology supported by artificial intelligence and machine learning.
Kaspersky Lab is an endpoint security solution offering multi-layered protection for your Internet-connected devices. It uses tools such as HuMachine Intelligence, fraud prevention, and similar tools to keep you safe from cyberattacks.
4. Cyberattack Statistics
Ironic as it may be, every technological advancement tends to result in an increase in cyberattack incidence. Innovations like IoT, mobile payments, and cloud computing, unfortunately, have given birth to new sophisticated cybercrime activities.
Enterprises & Organizations
The Cam4 data breach in 2020 is by far the biggest data breach of all time, involving 10.88 billion accounts (UpGuard, 2021).
The rest of the 10 largest data breaches of all time are Yahoo, 3 billion accounts (2013); Aadhar, 1.1 billion (2018); First American Financial Corporation, 885 million (2019); Verifications.io, 763 million (2019); Facebook, 540 million (2019); Yahoo, 500 million (2014); Marriott, 500 million (2018); Adult FriendFinder, 412.2 million (2016); and MySpace, 360 million (2013) (UpGuard, 2021).
The number of attack groups using destructive malware to destroy and disrupt business operations grew 25% in 2019. (Symantec, 2019)
40% of data breaches in 2020 came from indirect attacks (Accenture, 2020).
The top 5 worst crypto hacks are Coincheck ($500 million, 2018), Mt. Gox ($460 million, 2011), Bitfinex ($72 million, 2015), Binance ($40 million, 2019), and Bittrex ($18 million, 2018) (Coin Insider, 2021).
The global industries most frequently targeted by cyberespionage based on the number of incidents in 2019 are manufacturing (75), professional (40), public (26), information (11), and mining and utilities (6) (Verizon, 2020).
89% of executive leaders consider cybersecurity a high priority (Cisco, 2020).
In the information industry, web application cyberattacks account for 40% of data breaches (Verizon, 2020).
The most common hacking variety in the manufacturing sector is the use of stolen credit cards, accounting for around 80% of hacking-related breaches (Verizon, 2020).
In 2019, a 78% increase in supply chain cyberattacks, and a 48% increase in attacks involving malicious email attachments via Office files have been recorded. (Symantec, 2019)
86% of data breaches across all industries are financially motivated (Verizon, 2020).
By Type of Cyber Attack
In the third quarter of 2020, 3,818,307 email threats related to COVID-19 detected (Trend Micro, 2020).
1,025,301 malicious URLs related to COVID-19 were found in the third quarter of 2020 (Trend Micro, 2020).
During the same period, 15,513 malware files related to COVID-19 were detected (Trend Micro, 2020).
28% of organizations reported having ransomware during the COVID-19 lockdown period in 2020 (Sophos, 2021).
By 2022, the total number of DDoS attacks will reach 14.5 million. (Cisco, 2019).
A DDoS attack can affect up to 25% of the total internet traffic in a country. (Cisco, 2019)
43% of data breaches involved web applications (Verizon, 2020).
45% of data breaches involved hacking (Verizon, 2020).
52% of data breaches were by malicious attacks (IBM, 2020).
34% of organizations reported having malware in 2020 (Sophos, 2021).
The most common types of cyberattack vulnerabilities across all types of networks are crypto weaknesses (39.7%), cross-site scripting (12%), system patching related (8%), directory listing (7.1%), and exposed systems and services (3.5%) (Edgescan, 2020).
Google detected more than 2 million phishing sites in 2020 (TechRadar, 2020).
For small businesses, running a business is already cost-intensive. And factoring one’s cybersecurity costs make the financial challenge from worst to almost impossible. Good thing there are more than a dozen free, yet robust IT security solutions that SMBs can choose from and deploy in their operations.
5. Cybersecurity Jobs Statistics
The best approach to fight cyber criminality is through the current initiative for diverse cyber work environments as this drives the generation of powerful creative problem solving to effectively address the unrelenting threat of cybercrimes worldwide.
Cybersecurity Job Market in the US
The US cybersecurity workforce now totals almost 942,000, with around 521,000 positions currently unfilled (Cyberseek, 2020).
The cybersecurity industry has a 0% unemployment rate (SecurityIntelligence, 2020).
Information security analysts have a job growth rate of 31% through 2029 in the US, much faster than the national average of 4% (US Bureau of Labor Statistics, 2020).
The median pay of cybersecurity analysts in the US is $99,730 annually or $47.95 per hour, much higher than the national average (US Bureau of Labor Statistics, 2020).
According to Burning Glass, the fastest-growing cybersecurity skills are application development security (164%), cloud security (115%), risk management (60%), threat intelligence (41%), incident response (37%) (Burning Glass, 2020).
Cybersecurity professionals are slated to earn a premium of $12,266 should they leverage the high demand for their skills (Forbes, 2020).
DevOps and app development security specialists stand to receive a premium of $12,266 should they leverage the high demand for their competencies (Forbes, 2020).
In 2019, a CISO position holds the second-highest paying tech job with a $175,000 to $275,000 average salary. (TechRepublic, 2019)
Cybersecurity Jobs in Other Parts of the World
By 2021, 100% of Fortune 500 and Global 2000 enterprises are poised to have a CISO or an equivalent position (Cybercrime Magazine, 2019).
In 2019, over $44.75 million in bug bounties was awarded to top hackers across the globe (ZDNet, 2020).
The number of cybersecurity jobs around the world is around 3.5 million (PwC, 2021).
By the end of 2021, a total of 3.4 million cybersecurity jobs will be vacant. (Cybercrime Magazine, 2019)
From 2011 to 2019, the unemployment rate in the cybersecurity industry has been zero. (Cybercrime Magazine, 2019)
51% of executives worldwide are planning to add full-time positions for cybersecurity professionals over the next year (PwC, 2021).
70% of cybersecurity professionals assert that their company is negatively affected by the shortage in cybersecurity skills (CSO, 2020).
A mere 7% of organizations did the necessary steps to address the cybersecurity skills shortage (CSO, 2020).
45% of cybersecurity professionals even claim that their organization worsened in regard to its stance on the shortage of cybersecurity skills (CSO, 2020).
The top cybersecurity roles global companies want to fill are cloud solutions (43%), security intelligence (40%), data analysis (37%), data management (36%), and specific technology specializations (33%) (PwC, 2021).
Cloud security skills are the most lucrative competency to have, netting a salary boost of $15,008 (Forbes, 2020).
The Asia-Pacific Region has around 2 million cybersecurity jobs to fill (eSecurity Planet, 2020).
Meanwhile, in Europe, there are around 400,000 cybersecurity jobs available (eSecurity Planet, 2020).
Source: PwC 2021
Every IT job is now a cybersecurity position. Every IT staff must be involved in protecting and defending people, data, apps, devices, and business infrastructures.
6. Hacking & Ransomware Statistics
From the very first incident involving Vietnam vet John Draper in 1971, computer hacking had been causing havoc to businesses and people worldwide. Ransomware, considered as the cybercrime model of choice for hackers, is the fastest-growing, with damages predicted to be 57 times higher by the end of 2021.
The cost of ransomware damage in 2021 ($20 billion) is 57 times more than the cost in 2015 (Cybersecurity Ventures, 2021).
Ransomware has officially claimed its first life in 2020 when an attack on a German healthcare facility caused its IT systems to fail (Cybercrime Magazine, 2020).
In the span of a year, 18% of organizations only blocked at least one type of ransomware even though it has a detection rate of 82% (Verizon, 2020).
17% of reported data breaches involved malware, of which 27% are ransomware (Verizon, 2020).
81% of all ransomware infections involve enterprise organizations. (Symantec, 2019)
In a year, 51% of organizations are impacted by a form of ransomware infection (Mimecast, 2020).
Organized criminal groups are behind 55% of data breaches (Verizon, 2020).
64% of Americans never bothered to check if they were affected by a data breach (Varonis, 2020).
Along with other hacking threats, ransomware activities will continue to be a big problem for organizations worldwide. Training users on the proper ways of detecting and reacting to these threats and using robust, secured email management solutions are effective ransomware deterrents.
7. Cybercrime per Industry Statistics
Over the past six decades, the world’s criminal attack environment has transformed from phone systems into today’s billions of digitally connected devices. This makes it more and more difficult to adequately secure them.
The global healthcare cybersecurity market is set to grow by 15% annually through 2025, reaching $125 billion (Cybercrime Magazine, 2020).
The healthcare industry receives 2-3 times more cyber attacks than the financial services sector (Cybercrime Magazine, 2020).
Cyberattacks on US healthcare facilities in 2020 affected 17.3 million people and resulted in 436 data breaches (Forbes, 2020).
Cyberattackers can sell medical records on the dark web for up to $1,000 each (Forbes, 2020).
As of January 2021, the US Department of Health and Human Services Office for Civil Rights is investigating more than 700 cases of data breaches in the healthcare industry (US Department of Health and Human Services Office for Civil Rights, 2021).
16 of those cases were submitted in the first half of January 2021. Meanwhile, 552 cases logged in 2020 are under investigation (US Department of Health and Human Services Office for Civil Rights, 2021).
48% of data breaches in healthcare facilities are committed by internal actors, meaning they were inside jobs (Verizon, 2020).
24% of US healthcare employees have yet to receive training on cybersecurity awareness (Cybercrime Magazine, 2020).
On average, it takes financial services organizations 233 days to find and fix a data breach (Varonis, 2021).
72% of data breaches targeted large companies (Verizon, 2020).
The most common causes of data breaches in the manufacturing sector are crimeware, web apps, and privilege misuse, all of which account for 64% (Verizon, 2020).
30% of data breaches are inside jobs (Verizon, 2020).
In 2019, 38.4% of mining companies were targeted by malicious emails. (Symantec, 2019)
In the same year, research has shown that for every 302 emails sent to public administration users, one email is malicious. (Symantec, 2019)
Source: Verizon 2020
Very inadequate security practices, weak and shared passwords, plus vulnerabilities in code, expose hospitals and other business establishments to perpetrators bent on hacking treasure troves of patient and customer data.
8. Formjacking & Cryptojacking Statistics
Formjacking and cryptojacking are relatively new forms of cybercrimes. They have already incurred significant losses and damages. They’re have become very serious threats that Google will be banning all cryptocurrency mining extensions from Chrome.
Out of 3,500 IT professionals, 17% reported that their organizations were victimized by cryptojacking (Sophos, 2021).
On average, formjacking codes compromise around 4,800 websites every month (Symantec, 2019).
Crytojacking accounts for 2.5% of malware among breaches (Verizon, 2020).
Although the incidence of cryptojacking is relatively low, crypto weaknesses are among the most common network vulnerabilities, with organizations registering a 39.7% vulnerability rate (EdgeScan, 2020).
The vulnerability rate for cryptojacking spikes up to 43.7% when it comes to external/public networks (EdgeScan, 2020).
The first hacker convicted of SIM swapping was recently sentenced to a 10-year prison sentence. (Vice, 2019)
A known symptom of cryptojacking is that applications take 5 to 10 times longer to load (Purplesec, 2021).
Cybercriminals can earn around $2.2 million monthly should they steal 10 credit cards from each of the reported 4,800 formjacked sites (Symantec, 2019).
Cybercriminals will continue with their shadowy ways of coming up with novel and more sophisticated ways of attacking the vulnerabilities of digital systems, including common business software applications. Everyone should proactively protect his or her information at all times.
Plan Your Cybersecurity Business Strategy
Cybercrime isn’t going away anytime soon. By all accounts, it’s expected to grow more in number, reach, and sophistication in the years to come, with some help from the COVID-19 pandemic. It’s great if your business has an effective cybersecurity system. To ensure fool-proof protection, an organization should have a culture of safety and cybersecurity excellence. Here are some of the essential takeaways from this selection of this year’s cybersecurity statistics:
The global cybersecurity market will continue to experience substantial growth.
The new preferred venue for criminals worldwide is the Internet.
Cybercrime costs and damages are higher than those of natural calamities.
Every technological innovation tends to open new opportunities for cybercriminals.
Cybersecurity jobs will increase.
Ransomware has become the hacking method of choice among cybercriminals.
Hospitals are more vulnerable to cybercrime compared to other businesses.
Cryptojacking is stifling the growth of bitcoin and other cryptocurrencies.
Every business should be aware of the various cyber threats that can impede its operations. With such a stance and knowledge, it will be easier to choose the correct cybersecurity solution for your business. With so many threats lurking in numerous places all the time, today, not tomorrow, is the best time to upgrade your cybersecurity system.
Jenny Chang is a senior writer specializing in SaaS and B2B software solutions. Her decision to focus on these two industries was spurred by their explosive growth in the last decade, much of it she attributes to the emergence of disruptive technologies and the quick adoption by businesses that were quick to recognize their values to their organizations. She has covered all the major developments in SaaS and B2B software solutions, from the introduction of massive ERPs to small business platforms to help startups on their way to success.
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