Cyber Security Statistics for 2024

Cybercrime and online threats evolve rapidly, so staying on top of the latest cybersecurity trends and statistics is crucial. As digital transformation accelerates across industries, attack surfaces and vulnerabilities expand. Both organizations and consumers face immense risks of data breaches, malware infections, phishing scams, and more sophisticated threats like ransomware. Understanding key cybersecurity stats and data provides critical insights into current attack vectors, emerging threats, potential costs, and how to strengthen defenses. This roundup offers an in-depth look at the most troubling cyber security statistics for 2023 and beyond. The extensive research paints a sobering picture of the growing cyber risk landscape while also arming readers with actionable information to mitigate risks.

Disquieting Cyber Security Statistics

The escalating sophistication of cyber-attacks and the sheer volume of threats can seem overwhelming. Key statistics on various facets of the cyber risk landscape reveal where dangers are arising, how costs are climbing, and what vulnerabilities need to be addressed. Highlighted below are eight disquieting cyber security stats that underscore the growing threats to organizations and individuals in 2023:

• Globally, cybercrime will cost the economy 10.5 trillion dollars by 2025, up from 3 trillion in 2015.
• Cybercriminal acts cost the world economy over $1 trillion annually, up more than 50% since 2018.
• Ransomware damage costs will exceed $20 billion in 2021 and $265 billion by 2031.
• In 2021, the average cyber data breach cost was $4.24 million globally, the highest cost in 17 years.
• There were 1,862 publicly reported data breaches in the US in 2021, exposing nearly 22.9 billion records.
• Healthcare data breaches cost the most on average at $9.23 million per incident.
• Small businesses under 100 employees make up almost 46% of breach victims.
• A business becomes a victim of ransomware attacks every 14 seconds, costing $20 billion in damages in 2021.
• The average reported ransomware payment in the first half of 2021 reached $570,000, an 82% increase from 2020.
• Emotet was the most prevalent malware in 2021, responsible for 15% of all infections.

Cyber Security Statistics by Expense

The financial damages and disruptions caused by cybercrime continue to skyrocket globally. Cyber attacks incur significant costs for individual businesses and take a heavy toll on the worldwide economy. Key statistics outline the current and projected economic impacts of escalating cybercrime over the next decade.

Here are the most alarming cyber crime statistics by expense:

1. Globally, cybercrime will cost the economy 10.5 trillion dollars by 2025, up from 3 trillion in 2015

(Source: Cybersecurity Ventures)

Cybercrime costs are anticipated to grow over 3x in one decade, from $3 trillion in 2015 to $10.5 trillion by 2025, indicating the severe rise in cyber threats.

2. Cybercriminal acts cost the world economy over $1 trillion annually, up more than 50% since 2018

(Source: McAfee)

According to McAfee, cybercrime already costs the world economy over $1 trillion annually, a 50% increase since 2018

3. Ransomware damage costs exceed $20 billion in 2021 and $265 billion by 2031

(Source: Cybersecurity Ventures)

Ransomware attacks are surging, with costs estimated to jump from $20 billion in 2021 to $265 billion in 2031, a 13x increase over the decade.

Cyber Security Statistics by Data Breaches

Data breaches continue to expose billions of sensitive records each year. Key stats reveal rising breach impacts across industries and how cybercriminals often target entities with valuable data.

4. In 2021, the average cyber data breach cost was $4.24 million globally, the highest cost in 17 years

(Source: IBM)

IBM found data breaches cost companies a record $4.24 million on average in 2021, highlighting rising breach impacts.

5. There were 1,862 publicly reported data breaches in the US in 2021, exposing nearly 22.9 billion records

(Source:Statista)

US data breaches exposed 22.9 billion sensitive records in 2021 across 1,862 publicly disclosed incidents, according to Statista.

6. Healthcare data breaches cost the most on average at $9.23 million per incident

(Source: IBM)

IBM reports that healthcare breaches were the most expensive, averaging $9.23 million per breach due to sensitive patient data.

7. Small businesses under 100 employees make up nearly 46% of breach victims

(Source: Verizon)

Verizon found SMBs accounted for nearly 60% of breach victims, indicating hackers highly target them.

Cyber Security Malware and Ransomware Statistics

Malware and ransomware attacks are surging, inflicting major disruptions and costs. Statistics outline the recent growth of high-impact threats like Emotet malware and the skyrocketing costs of ransomware.

Here are some facts about cyber security by malware and ransomware data:

8. A business becomes a victim of ransomware attacks every 14 seconds, costing $20 billion in damages in 2021

(Source:Cybersecurity Ventures)

Cybersecurity Ventures states that a business now falls prey to ransomware every 14 seconds, costing $20 billion last year.

9. The average reported ransomware payment in the first half of 2021 reached $570,000, an 82% increase from 2020

(Source: Palo Alto Networks)

Ransomware payments jumped 82% year-over-year, reaching an average of $570,000 in the first half of 2021.

10. Emotet was the most prevalent malware in 2021, responsible for 15% of all infections

(Source: ZDNet)

ZDNet reports that Emotet accounted for 15% of malware infections in 2021, making it the most prevalent last year.

Cyber Security Phishing and Social Engineering Statistics

Attackers frequently exploit human weaknesses rather than system flaws. Stats highlight the prominent role of phishing and social engineering in enabling damaging data breaches.

11. 83% of breaches in 2021 involved the human element via social engineering

(Source: Verizon)

Verizon found that 83% of breaches exploit human vulnerabilities via social engineering, like phishing, highlighting the human risk factor.

12. Phishing was implicated in 36% of data breaches

(Source: Verizon)

Verizon also reports that phishing attacks enabled 36% of breaches, a sign of the effectiveness of these attacks.

13. Business email compromise scams cost $2.4 billion in losses in 2021

(Source: FBI IC3 Report)

The FBI reports that BEC scams alone cost organizations $2.4 billion in direct losses during 2021 as they surge.

14. Social media scams tripled in 2021, now making up 25% of total losses in cybercrime

(Source: Federal Trade Commission)

Per the FTC, social media scams tripled in 2021 and accounted for 25% of cybercrime losses, indicating a troubling trend.

Cyber Security Statistics by Cloud Security

Migrating to the cloud creates new attack surfaces. Statistics underline organizations’ ongoing cloud security struggles like misconfigurations and lack of visibility.

Here are the most threatening cyber security statistics by cloud security:

15. Misconfigured cloud storage accounts were implicated in over 80% of cloud data breaches

(Source: Gartner)

Gartner found over 80% of cloud breaches involved misconfigured accounts and poor access controls.

16. 37% of cloud security incidents are caused by credential theft due to poor identity management

(Source: Beyond Trust)

Beyond Trust reports that 37% of cloud incidents resulted from stolen credentials, signaling flawed identity policies.

17. 70% of companies lack visibility into privileged user activities in the cloud

(Source: CyberArk)

Per CyberArk, 70% of organizations cannot see privileged cloud user activity, creating blind spots for attackers.

Cyber Security Statistics by Mobile Security

Mobile devices are prime targets, but security often lags. Key metrics reveal the prevalence of mobile compromises and vulnerabilities.

Here are the most fearsome cyber security statistics by mobile security:

18. Around 52% of mobile devices do not use a password, PIN, or biometric to unlock devices

(Source: Kaspersky)

Kaspersky Lab states that 52% of mobile devices have no password, PIN, or biometrics configured, representing a significant security gap.

19. 66% of organizations reported compromises via mobile devices in 2021

(Source: Verizon)

66% of companies experienced a cyber incident stemming from mobile devices in 2021, per Verizon, often due to phishing and spyware.

20. Android devices comprised 38% of compromised mobiles versus 14% for iOS

(Source: Verizon)

Verizon reports that Android devices accounted for 38% of compromised organization-owned mobiles, much higher than 14% for iOS.

Cyber Security Statistics by Network Security

Corporate networks continue to be infiltrated by attackers post-perimeter breaches. Stats emphasize lateral movement risks and malware infections inside networks.

Here are the most alarming cyber crime statistics by network security:

21. 70% of organizations experienced lateral movement across their networks by attackers in 2021

(Source: VMware)

Per VMware, 70% of organizations saw threat actors moving laterally within networks after breaching perimeters.

22. Cybercriminals use VPN vulnerabilities to breach corporate networks in 33% of ransomware attacks

(Source: Help Net Security)

Help Net Security found that exploited VPN flaws were involved in 33% of ransomware attacks, allowing access to target networks.

23. Nearly half of the networks contain an advanced persistent threat (APT)

(Source: Securelist)

Securelist reports that nearly half of the networks already have an advanced persistent threat or sophisticated attacker present.

Cyber Security Statistics by Internet of Things (IoT) Security

Billions of insecure IoT devices provide ripe targets. Statistics convey the exponential IoT growth and frequency of IoT-focused attacks.

Here are the most significant cyber security statistics by IoT data:

24. There will be 36.8 billion IoT devices by 2025, with an overall growth rate of 107%

(Source: Juniper Research)

Juniper anticipates exponential IoT growth, with connected devices projected to hit 35.4 billion by 2025, with an overall growth rate of 107%.

25. 60% of companies have experienced an IoT security incident

(Source: PurpleSec)

Per PurpleSec, 60% of organizations have faced a cyber attack on IoT devices, from DDoS botnets to data breaches.

26. Over 90% of IoT device traffic is unencrypted, exposing personal data

(Source: SecurityScorecard)

SecurityScorecard warns that over 90% of IoT device traffic lacks encryption, risking consumer privacy.

Cyber Security Statistics by Jobs and Training

The cybersecurity skills gap continues to undermine defenses. Key figures underscore staffing shortages and inadequate security training.

Here are the most critical cyber security job statistics:

27. There were 490,513 open cybersecurity jobs in the US as of September 2021

(Source: CyberSeek)

CyberSeek calculated approximately half a million open cybersecurity positions across the US as of September 2021.

28. The projected number of unfilled cybersecurity jobs globally will reach 3.5 million by 2021

(Source: Cybersecurity Ventures)

Per Cybersecurity Ventures projections, the global cybersecurity skills gap could reach 3.5 million unfilled positions by 2021.

29. 93% of organizations say the cybersecurity skills gap impacts their defense capabilities

(Source: Enterprise Strategy Group)

93% of enterprises believe the shortage of skilled cybersecurity staff has affected their security capabilities and readiness, according to ESG.

30. 78% of workers report their cybersecurity training is inadequate or nonexistent

(Source: KnowBe4)

KnowBe4 found that 78% of employees rate their work-provided cybersecurity training as inadequate or report receiving zero security awareness training.

Cyber Security Statistics by Cyber Insurance

As threats surge, cyber insurance is more critical than ever. Metrics highlight rising premiums and usage as risks climb.

Here are the most significant cyber security statistics by insurance:

32. The cyber insurance market was worth $7.35 billion in 2021 but will possibly reach $25 billion by 2025

(Source: GlobalData)

Mordor Intelligence currently values the cyber insurance market at $7.35 billion but anticipates growth to $25 billion by 2025 due to rising risk.

33. 76% of businesses purchased cyber insurance in 2021

(Source: Hiscox)

According to Hiscox, 76% of firms now have cyber insurance coverage to help offset the potential costs of an attack or breach.

34. The average cost of cyber insurance rose 96% in the US during Q3 in 2021

(Source: Marsh McLennan)

Marsh McLennan reports that heightened risk drove the average cyber insurance premium up 96% in the US during Q3 in 2021.

35. 69% of cyber insurance policyholders experienced a claim in 2021

(Source: Coalition)

Per Coalition, 69% of insured firms filed at least one cyber insurance claim in 2021, indicating higher utilization amid elevated risk.

Cyber Security Statistics by Country

State-sponsored attacks present unique threats. Stats reveal rising nation-state cyberattacks, theft, and disruption.

Here are the most significant cyber security statistics by country:

36. Cybercrime has surpassed the global drug trade in annual profits and will generate over $10.5 trillion yearly by 2025

(Source: Cybersecurity Ventures)

Cybersecurity Ventures reports that cybercrime profits will exceed $10.5 trillion annually, surpassing the global drug trade in illegal earnings.

37. 90% of large UK businesses experienced a cyber breach or attack in 2021

(Source: UK DCMS Cyber Survey)

Per the UK’s DCMS survey, 90% of large businesses suffered a cyber breach or attack last year, highlighting the widespread threat.

38. North Korean hackers stole $1.3 billion in 2019 from hacking banks and cryptocurrency exchanges

(Source: The Washington Post)

The Washington Post estimates North Korean hackers made $1.3 billion in 2019 via cyber attacks targeting financial institutions and crypto exchanges.

39. Cyberattacks on Japanese organizations hit a record high in 2021, rising 17.5% year over year

(Source: NICT and NPA)

Japan’s National Center of Incident Readiness and Strategy for Cybersecurity reports cyber attacks rose 17.5% to hit record levels in 2021.

Cyber Security Statistics Consumer Behavior

Individuals face growing risks as well. Statistics show account compromises and weak password habits among consumers.

Here are the most significant cyber security statistics by user behavior:

40. 49% of Americans report having an account compromised by hackers

(Source: Statista)

Per Statista, 49% of Americans state that they have personally had an online account compromised by cybercriminals.

41. 74% of consumers reuse passwords across accounts, including their banks

(Source: TechRadar)

LastPass finds that 74% of people reuse passwords across accounts, a risky practice that enables credential-stuffing attacks.

Wrap Up

The extensive research into the most troubling cyber security statistics for 2023 highlights the escalating threats individuals and organizations face today. As attackers become more advanced and persistent, the potential costs of cybercrime also continue to skyrocket globally. However, awareness of the risks and proactive security measures can significantly reduce vulnerabilities. Key takeaways include implementing robust technical defenses, comprehensive staff training, access controls, and data protection. Building a resilient cybersecurity posture also requires keeping up-to-date with threat intelligence and re-evaluating policies as risks evolve. By approaching security with a risk-based mindset, organizations can make strategic decisions on safeguards and get budgetary support. Consumers also play a critical role by learning to spot scams, choosing strong passwords, enabling multi-factor authentication, and monitoring accounts. Understanding global cyber threats is the first step toward enhanced readiness and protection.

FAQs

How much could cybercrime cost the global economy annually by 2025?

Cybersecurity Ventures predicts that cybercrime costs could reach 10.5 trillion by 2025, which is up from 3 trillion dollars in 2015.

What percentage of data breaches target healthcare organizations?

According to IBM research, healthcare organizations account for 28% of data breaches, making them the most targeted sector.

What is the most common vector for cyber attacks?

Verizon’s research found that social engineering and phishing are implicated in 83% of data breaches involving the human element.

Which country generates the most revenue from cybercrime?

North Korea reportedly brings billions annually from hacking banks, exchanges, and cryptocurrency services globally.

What is the global cybersecurity job shortage projected to reach?

Per Cybersecurity Ventures, the global cybersecurity skills gap could reach 3.5 million unfilled positions by 2021.