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.
Here are the top ten key cybersecurity facts and statistics that you should know in 2022:
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.
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.
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.
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.
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.
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.
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.
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.
Small to medium size businesses have to spend adequately on cybersecurity as they are easy and soft targets.
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.
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.
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.
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.
A patient died at a German hospital when ransomware hackers attacked it. It was the first reported death linked directly to the cyberattack.
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.
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.
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.
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.
About 76% of data breaches in a business are financially motivated. Credentials and personal details are commonly targeted in data breaches.
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.
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.
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.
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.
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.
Delivery company, FedEx Corporation, suffered a cyberattack that cost it approximately $300M. When it experienced the breach, the stocks plunged 79% per share.
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.
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.
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.
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).
In 2017, Yahoo experienced the biggest data breach ever recorded. Many experts call it the most prominent security breach event in history.
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.
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.
Here are a few quick, interesting facts and stats about cybercrimes and cybersecurity:
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.