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  • 101 Impressive Cybersecurity Statistics: 2019 & 2020 Data & Market Analysis

101 Impressive Cybersecurity Statistics: 2019 & 2020 Data & Market Analysis

Category: B2B News

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.

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. 

key cybersecurity statistics

1. Cybersecurity Market Statistics

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.

Worldwide Scene

  • The global cybersecurity market is expected to develop from $120 billion in 2017 to $300 billion by 2024. (Global Market Insights)
  • Cybersecurity products and services will exceed $1 trillion in total value from 2017 to 2021. (Cybersecurity Ventures)
  • The global cybersecurity market size is projected to grow to $248.26 billion by 2023. (Statista)
  • From 2017 to 2022, Sectors that are predicted to experience the fastest growth in security spending include state/local government (11.9%), telecommunications (11.8%), resource industries (11.3%), banking (10.4%), federal/central government (9.9%), and other industries (8.3%). (IDC)
  • The global cybercrime economy earns around USD 1.5 trillion yearly. (SSLStore)
  • Global spending on security applications is predicted to increase from $103.1 billion in 2019 to $133.8 billion by 2022. (IDC)
  • In 2019, Global 2000 and Fortune 500 CISOs will limit the number of point security products/solutions they are using by 15-18%. (Cisco via Cybersecurity Ventures)
  • Total venture capital funding in cybersecurity firms has increased by 20% from $4.5 billion in 2017 to over $5 billion in 2018. (Strategic Cyber Ventures)
  • The cybersecurity market share has increased from $3.5 billion in 2004 to $120 billion in 2017, which is around 35 times for the 13-year period. (Wired)
  • Cyber insurance policies are predicted to cost from $14 billion by 2022 to $20 billion by 2025. (Insurance Business)
  • The single biggest risk organizations throughout Europe will be cybersecurity, prompting an increase in spending on cybersecurity in the region in 2019. (ECIIA)
  • Energy companies invest below 0.2% of their revenue in cybersecurity as a rising number of hacker groups target the sector. (Bloomberg)

Country-Specific Scene

  • 68% of US businesses have not purchased any form of cyber liability or data-breach coverage, showing that businesses are not adopting cyber insurance at a rate that matches the risks they face. (Cisco)
  • The top 4 countries as per venture capital dollars invested in cybersecurity are the US, Israel, UK, and Canada. (BusinessFacilities)
  • The cybersecurity capital of the US is Virginia, WA, which is home to the most number of cybersecurity companies per capita in the nation. (BusinessFacilities)
  • Singapore launched the very first commercial cyber risk pool in the world. It will commit up to $1 billion in risk capacity. (Yahoo)
  • Israel, the world’s second-largest exporter of cybersecurity technology (behind the US), took around $1 billion or 20% of the total venture capital spending in the sector. (TechCrunch)
  • The single-largest state government investment in a cybersecurity facility is the $100 million received by the Hull McKnight Georgia Cyber Center for Innovation and Training in Augusta, Georgia. (HubGA)
  • The US president’s cybersecurity budget for 2019 is $15 billion, a 4.1% increase from 2018. (TheWhiteHouse)
  • The US federal government’s demand for cybersecurity technology will rise from $10.9 billion in 2018 to over $14.1 billion in 2023. (Deltek)
  • A Wall Street Journal survey found out that most of the 25 most populous American cities now have cyber insurance or are intending to buy such a policy. (WSJ)

Top Industries with the Fastest Security Spending Growth Worldwide

2017-2022 CAGR (Estimated)

Top Industries with the Fastest Security Spending Growth Worldwide
State/Local Government: 11.9

State/Local Government

%
Top Industries with the Fastest Security Spending Growth Worldwide
Telecommunications: 11.9

Telecommunications

%
Top Industries with the Fastest Security Spending Growth Worldwide
Resource Industries: 11.3

Resource Industries

%
Top Industries with the Fastest Security Spending Growth Worldwide
Federal/Central Government: 9.9

Federal/Central Government

%
Top Industries with the Fastest Security Spending Growth Worldwide
Others: 8.3

Others

%

Source: IDC Worldwide Semiannual Security Spending Guide 2018

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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 this modern world must deal with for the short- and long-term is criminal activity. Several cybersecurity reports suggest that the fastest rising crime worldwide is cyberattacks.

  • For 2019, cybercrime-related costs are predicted to surpass $2 trillion globally. (Juniper Research)
  • Every year, cybercrime damages will cost the world $6 trillion by 2021. (Cybersecurity Ventures)
  • Cybercrime is relatively far more profitable versus the combined operations of drug trafficking worldwide. (Cisco)
  • Over 70% of the global cryptocurrency market will be used in criminal activities. (Cybersecurity Ventures)
  • The FBI’s Cyber’s Most Wanted List includes 63 notorious criminals known to have committed a string of cybercrimes that have endangered and cost people and organizations billions of dollars. (FBI)
  • Only 10 to 12% of the actual number of committed cybercrimes are reported to authorities. (Slate)
  • Businesses operating in the Asia-Pacific region receive six cyber threats every minute. (Cisco)

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.

Cybercrime-Related Costs Worldwide

3. Cybercrime Costs & Damages Statistics

The cumulative damage and costs of cybercrime are far more significant than those inflicted by natural disasters in a year.

  • By 2021, cybercrime damages will cost the world $6 trillion yearly. (Cybersecurity Ventures)
  • In 2018, the most common cyber attacks experienced by companies were phishing (37%), network intrusion (30%), inadvertent disclosure (12%), stolen/lost device or records (10%), and system misconfiguration (4%). (Statista)
  • From 2019 to 2022, the top 10 most targeted industries are healthcare, manufacturing, financial services, government, transportation, retail, oil and gas/energy and utilities, media and entertainment, legal, and education. (Cybersecurity Ventures)
  • 87% of Americans believe that the risk of becoming a victim of cybercrime is increasing. (ESET)
  • Malicious websites posing as legitimate political sites were discovered and shut down. (BleepingComputer)
  • Russia-linked social media accounts were used to interfere in the recent US elections, using third parties for buying ads to favor one presidential candidate. (USA Today)
  • Most cybercrime statistics are undercounted. (Slate)
  • Bitcoin is involved in around $76 billion of criminal activities annually. (SSRN)
  • Digital ad fraud had caused businesses to lose $19 billion in 2018, or around $51 million every day. (AdWeek)
  • 9 out of 10 Americans now see cybercrime as a challenge to the country’s security. (ESET)
  • The total cost of illegal ads on online and mobile devices is expected to reach $44 billion by 2022. (Juniper)
  • Cybercrime will incur up to $1.745 trillion in Asia-Pacific. (Microsoft and Frost&Sullivan)

Most common cyber attacks experienced by US companies

Most common cyber attacks experienced by US companies
Phishing: 37

Phishing

%
Most common cyber attacks experienced by US companies
Network Intrusion: 30

Network Intrusion

%
Most common cyber attacks experienced by US companies
Inadvertent Disclosure: 12

Inadvertent Disclosure

%
Most common cyber attacks experienced by US companies
Stolen/lost device or records: 10

Stolen/lost device or records

%
Most common cyber attacks experienced by US companies
System Misconfiguration: 4

System Misconfiguration

%

Source: Statista 2018

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Most Popular IT Security Software

  1. 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.
  2. 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.
  3. Avira Antivirus Server offers a 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.
  4. 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.
  5. 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 Yahoo data breach in 2013 is by far the biggest data breach of all time, involving 3 billion accounts. (Quartz)
  • The rest of the 10 largest data breaches of all time are: Marriott, 500 million accounts (2014-2018); Adult FriendFinder, 412 million accounts (2016); MySpace, 360 million accounts (2016); Under Armor, 150 million accounts (2018); Equifax, 145.5 million accounts (2017); eBay, 145 million accounts (2014); Target, 110 million accounts (2013); Heartland Payment Systems, 100+ million accounts (2018); and LinkedIn, 100 million accounts (2012). (Quartz)
  • The number of attack groups using destructive malware to destroy and disrupt business operations grew 25%. (Symantec)
  • The top 5 largest bitcoin hacks are Mt. Gox (2,609 BTC | +750,000 BTC, 2011); BitFloor (24,000 BTC, 2012); Poloniex (12.3% of all BTCs – 97 BTC, 2014); BitStamp (19,000 BTC, 2015); and Bitfinex (120,000 BTC, 2016). (CoinSutra)
  • 28% of Ultra High Net Worth family wealth businesses have been cyberattack victims. (Forbes)
  • A total of 111 billion lines of new software codes are produced annually, which offers cybercriminals a vast volume of vulnerabilities waiting for exploitation. (NetworkWorld)
  • A 78% increase in supply chain cyberattacks, and a 48% increase in attacks involving malicious email attachments via Office files have been recorded. (Symantec)
  • 40% Ultra High Net Worth family wealth businesses don’t have a cybersecurity policy. (Forbes)
  • Only below 50% of all companies worldwide are properly prepared to fight cyberattacks. (PricewaterhouseCoopers)

By Type of Cyber Attack

  • In 2 to 3 years, zero-day attacks will happen daily. (InfoSecurity)
  • Over the past five years, individuals and businesses making wire transfer payments have lost over $12.5 billion to a sophisticated cyber scam called Business Email Compromise (BEC), or Email Account Compromise (EAC). (IC3)
  • $530 million NEM coins were lost in the 2018 Coincheck hack, which is considered as the largest cryptocurrency heist to date. (Time)
  • For 2018, cryptocrime is costing legit cryptocurrency exchanges around $1 billion in losses. (ChainAnalysis)
  • Law enforcement and financial institutions must protect over 400,00 ATMs in the US against jackpotting cybercriminals. (Wired)
  •  US businesses lost over $1 million from jackpotting in 2018. (Business Insider)
  • By 2022, the total number of DDoS attacks will reach 14.5 million. (Cisco)
  • For as low as $1, hacking tools and kits for all types of cybercrimes are available online. (Fortune)
  • A DDoS attack can affect up to 25% of the total internet traffic in a country. (Cisco)

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. 

Biggest data breaches of all time

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 to almost 715,000, with around 314,000 positions currently unfilled. (CyberSeek)
  • Maryland is the top cybersecurity employer worldwide. It is home to over 150,000 cyber-related data science and engineering professionals. (Cybersecurity Ventures)
  • The Washington D.C. Beltway is the center of the world’s cybersecurity activity. (DataTribe)
  • The second-biggest concentration of cybersecurity professionals is in San Antonio, Texas. (BusinessFacilities)
  • CISOs working in Fortune 500 firms that operate in large urban areas are paid higher, from $380,000 and higher. (Forbes)
  • The salaries of the best coders with leadership and cybersecurity skills go beyond $225,000 a year. (Forbes)
  • In 2019, a CISO position holds the second-highest paying tech job in 2019, with a $175,000 to $275,000 average salary. (TechRepublic)

Cybersecurity Jobs in other Parts of the World

  • By 2021, 100% of Fortune 500 and Global 2000 enterprises will have a CISO or an equivalent position. (Cybersecurity Ventures)
  • Some elite hackers earn around $500,000 a year. (CNBC)
  • By 2021, a total of 3.4 million cybersecurity jobs will be vacant. (Cybersecurity Ventures)
  • In 2014, cybersecurity job openings breached the 1 million mark. (Cisco)
  • From 2011 to 2019, the unemployment rate in the cybersecurity industry has been zero. (Monster)
  • Job positions in 67% of organizations have experienced cybersecurity attacks over the past year. (Microsoft and Frost&Sullivan)
  • The shortage of cybersecurity professionals is close to 3 million globally. ((ICS)2)
  • Global spending on employee training for security awareness will reach $10 billion by 2027.  (Cybersecurity Ventures)
  • The cybersecurity job market is predicted to continue expanding. (Cybersecurity Ventures)
  • The Asia-Pacific region has the largest shortage of cybersecurity professionals at 2.15 million. ((ICS)2)

Cybersecurity Workforce Gap Worldwide 2018

Job Shortage per Region

Cybersecurity Workforce Gap Worldwide 2018
Global: 2930000

Global

Cybersecurity Workforce Gap Worldwide 2018
Asia-Pacific: 2140000

Asia-Pacific

Cybersecurity Workforce Gap Worldwide 2018
North America: 498000

North America

Cybersecurity Workforce Gap Worldwide 2018
EMEA: 142000

EMEA

Cybersecurity Workforce Gap Worldwide 2018
Latin America: 136000

Latin America

Source: 2018 (ICS)2 Cybersecurity Workforce Study.

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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 2021.

  • Steadily growing from $325 million in 2015 to $5 billion in 2017, worldwide ransomware damage costs are projected to increase to $11.5 billion for 2019 and reach $20 billion by 2021. (Cybersecurity Ventures)
  • Enterprise ransomware detections had risen by 12% in 2018. (Symantec)
  • For 2018, ransomware attacks are estimated to have increased by 350%. (IndustryWeek)
  • From every 40 seconds in 2016 to every 14 seconds in 2019, businesses are predicted to fall to a ransomware attack every 11 seconds by 2021. (Cybersecurity Ventures)
  • 81% of all ransomware infections involve enterprise organizations. (Symantec)
  • Over 90% of successful hacks and data breaches stem from phishing scams that mainly use emails. (KnowBe4)
  • NoMoreRansom had helped over 72,000 ransomware victims worldwide. (NoMoreRansom)

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.

Growth in ransomware

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.

Healthcare Industry

  • The global healthcare sector is the most vulnerable to cybercrime in 2019. (Crowe)
  • Between 2017 and 2021, ransomware attacks on healthcare organizations are forecast to increase 5 times. (Cybersecurity Ventures)
  • Out of 18 US industries, healthcare ranks as the 15th lowest performing in terms of endpoint security. (The SSL Store)
  • From 2017 to 2021, the healthcare industry will spend over $65 billion cumulatively on cybersecurity products and services. (Cybersecurity Ventures)
  • For every seven phishing emails, one is opened by hospital employees. (The SSL Store)
  • Personal health information is 50 times more expensive on the black market versus personal information. (CNBC)
  • On average, healthcare will experience around 2 to 3 times more cyberattacks in 2019 versus other industries. (Cybersecurity Ventures)
  • Stolen patient health records can command over $60 per record. (CNBC)

Other Industries

  • 48% of UK manufacturers are verified targets of cybercrime. (Make UK and AIG)
  • 38.4% of mining companies were targeted by malicious emails. (Symantec)
  • For every 302 emails sent to public administration users, one email is malicious. (Symantec)
  • There are now over 20 ATM malware families that threaten the banking industry. (Kaspersky Lab)

Malicious Email per User by Industry

Targeted users Per Year (2019)

Malicious Email per User by Industry
Mining: 38.4

Mining

%
Malicious Email per User by Industry
Wholesale Trade: 36.6

Wholesale Trade

%
Malicious Email per User by Industry
Non-classifiable Establishments: 21.2

Non-classifiable Establishments

%
Malicious Email per User by Industry
Retail Trade: 21.2

Retail Trade

%
Malicious Email per User by Industry
Agriculture, Forestry & Fishing: 21.1

Agriculture, Forestry & Fishing

%
Malicious Email per User by Industry
Manufacturing: 20.6

Manufacturing

%
Malicious Email per User by Industry
Public Administration: 20.2

Public Administration

%
Malicious Email per User by Industry
Transportation & Public Utilities: 20.0

Transportation & Public Utilities

%
Malicious Email per User by Industry
Services: 11.7

Services

%
Malicious Email per User by Industry
Finance, Insurance & Real Estate: 11.6

Finance, Insurance & Real Estate

%

Source: The SSL Store

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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.

  • 25% of all businesses worldwide were victimized by cryptojacking in 2018. (CoinCentral)
  • On average, formjacking codes compromise around 4,800 websites every month. (Symantec)
  • For 2018, cryptojacking incidence rates had increased by a whopping 459% worldwide, mostly involving hackers mining Monero and bitcoin cryptocurrencies. (Cyber Threat Alliance)
  • Cryptocurrency prices dropped by almost 90% in 2018, mainly due in part to the increase in cryptojacking. (Symantec)
  • By using highly-sophisticated methods, cryptojacking attacks can only be detected around 50% of the time. (BitCoin Magazine)
  • The top 10 most profitable cryptomining sites can generate anywhere from $119 to $340 daily. (The Register)
  • The first hacker convicted of SIM swapping was recently sentenced to a 10-year prison sentence. (Motherboard)

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.

Cryptojacking Incidence Rate

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. 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 of criminals worldwide is the Internet.
  • Cybercrime costs and damages are higher versus 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.

By Jenny Chang

Senior writer at FinancesOnline who writes about a wide range of SaaS and B2B products, including trends and issues on e-commerce, accounting and customer service software. She’s also covered a wide range of topics in business, science, and technology for websites in the U.S., Australia and Singapore, keeping tabs on edge tech like 3D printed health monitoring tattoos and SpaceX’s exploration plans.

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