As of February 2024, the global average cost per data breach amounted to **** million U.S. dollars, an increase from **** million U.S. dollars in the previous year. The average cost of a data breach varied across sectors, with the highest average cost in the healthcare industry.

As of 2024, the average cost of a data breach in the United States amounted to **** million U.S. dollars, down from **** million U.S. dollars in the previous year. The global average cost per data breach was **** million U.S. dollars in 2024. Cost of a data breach in different countries worldwide Data breaches impose a big threat for organizations globally. The monetary damage caused by data breaches has increased in many markets in the past decade. In 2023, Canada followed the U.S. by data breach costs, with an average of **** million U.S. dollars. Since 2019, the average monetary damage caused by loss of sensitive information in Canada has increased notably. In the United Kingdom, the average cost of a data breach in 2024 amounted to around **** million U.S. dollars, while in Germany it stood at **** million U.S. dollars. The cost of data breach by industry and segment Data breach costs vary depending on the industry and segment. For the fourth consecutive year, the global healthcare sector registered the highest costs of data breach, which in 2024 amounted to about **** million U.S. dollars. Financial institutions ranked second, with an average cost of *** million U.S. dollars for a data breach. Detection and escalation was the costliest segment in data breaches worldwide, with **** U.S. dollars on average. The cost for lost business ranked second, while response following a breach came across as the third-costliest segment.

Data breaches cost companies considerably less had they deployed security automation. In 2024, a data breach cost an organization that extensively used security automation 3.84 million U.S. dollars on average, compared to 5.72 million U.S. dollars on average for an organization with no such deployment.

Between March 2022 and February 2024, the highest average cost of a data breach, nearly **** million U.S. dollars, was detected in the healthcare industry. The financial sector ranked second, with **** million U.S. dollars on average per breach. The global average data breach cost in the measured period was **** million U.S. dollars. Data breaches in the public sector cost relatively low, an average of **** million U.S. dollars during the measured period.

As of February 2024, the United States ranked first by the average cost of a data breach, 9.36 million U.S. dollars. The average cost of data breaches in the Middle East is 8.75 million U.S. dollars. Benelux followed in the ranking, with 5.9 million U.S. dollars. In the measured period, the global average data breach cost was 4.88 million U.S. dollars. Phishing scams in the U.S. Breached data often ends up in the hands of threat actors who use it for malicious purposes, including online scams. Phishing continues to be a major threat in North America, particularly on smartphones. In the second quarter of 2023, the region recorded the highest number of phishing and malicious attack attempts globally. The United States was particularly affected, with 45 percent of U.S. citizens reporting being targeted by scam texts, e-mails, and calls on a daily basis. Additionally, phishing and spoofing were the most common types of cybercrime, impacting 298 thousand individuals in 2023. These attacks led to financial losses, with U.S. victims reporting nearly 20 billion U.S. dollars in damages throughout the year. U.S. users and data privacy Despite only 20 percent of internet users in the United States being highly knowledgeable about data privacy and cybersecurity, a significant portion of users demonstrated caution and awareness in protecting their information. In fact, over half of surveyed U.S. users reported being somewhat confident in knowing the right steps to take in the event of a cyberattack. Furthermore, 43 percent of U.S. users actively decline cookies on websites, reflecting their increasing concern for data protection. Many respondents also take additional steps to safeguard their digital privacy, such as limiting or avoiding clicking on ads as well as not answering phone calls due to cybersecurity risks.

In 2023, the average cost of a data breach worldwide was **** million U.S. dollars for an organization that did not use AI-enabled cybersecurity. This value fell to **** million U.S. dollars for organizations that did. Therefore, the use of AI in cybersecurity saved organizations almost *** million U.S. dollars in data breach-related costs in 2023.

Data breaches have a greater impact on critical infrastructure industries. In 2023, a data breach cost a critical infrastructure over five million U.S. dollars on average, compared to 3.78 million U.S. dollars on average for an organization active in an other industry.

As of February 2024, the average cost of a data breach worldwide was about **** million U.S. dollars. Of this total, **** million U.S. dollars were the costs for detection and escalation, **** million U.S. dollars were the costs of lost business, and **** million U.S. dollars were post-breach response costs.

The Password Transformation Solution market is experiencing robust growth, driven by increasing concerns over data breaches and the escalating demand for robust cybersecurity measures across diverse sectors. The market, estimated at $2 billion in 2025, is projected to witness a Compound Annual Growth Rate (CAGR) of 15% from 2025 to 2033, reaching an estimated $7 billion by 2033. This growth is fueled by several key factors. The rising adoption of cloud computing and the proliferation of connected devices are increasing the attack surface, making robust password management crucial. Stringent government regulations regarding data protection and privacy, like GDPR and CCPA, are further incentivizing organizations to adopt sophisticated password transformation solutions. The financial sector, national institutions, and other organizations handling sensitive data are leading adopters, significantly contributing to market expansion. Different password types, including commercial, core, and normal passwords, cater to specific security needs, segmenting the market and driving specialization among vendors. Competitive activity is high, with companies like Beijing Trusfort Technology, Hunan Kylinsec Technology, and others innovating to deliver enhanced security features and cater to evolving customer demands. Geographic expansion, particularly in the Asia-Pacific region driven by increasing digitalization in countries like China and India, presents significant growth opportunities. However, challenges remain, including the complexity of implementation and integration with existing systems and the potential for high initial investment costs that might deter some smaller organizations. The market segmentation highlights the diverse application of password transformation solutions. Financial institutions are leading the way, prioritizing robust security due to the sensitive nature of financial transactions. National institutions also contribute significantly due to the need for safeguarding critical government data. The type of password deployed – commercial, core, or normal – further differentiates the market, reflecting varied security requirements and cost considerations. The competitive landscape is dynamic, with several established players and emerging startups competing to offer innovative solutions. Geographical distribution reveals strong growth potential in regions with rapid digital transformation and a growing awareness of cybersecurity threats. North America and Europe currently hold significant market share, but the Asia-Pacific region is poised for rapid expansion in the coming years, presenting lucrative opportunities for market players. Future growth will depend on ongoing technological advancements, regulatory changes, and the evolving threat landscape.

As of 2024, the average cost of a data breach in Canada was 4.66 U.S. dollars, down from 5.13 million U.S. dollars in the previous year. The global average cost per data breach was 4.88 million U.S. dollars as of 2024, up from 4.45 million U.S. dollars recorded in 2023.

As of 2024, the average cost of a data breach in the financial industry worldwide was **** million U.S. dollars, up from **** U.S. dollars in 2024. The global average cost of a data breach across all studied industries was **** million U.S. dollars.

Health IT Security Market size was valued at USD 13.24 Billion in 2024 and is projected to reach USD 20.05 Billion by 2031, growing at a CAGR of 5.88% from 2024 to 2031.Global Health IT Security Market DriversQuick Digitalization of Healthcare: To improve patient care, optimize workflows, and boost operational effectiveness, the healthcare sector is progressively implementing digital technologies. Modern healthcare systems now cannot function without Electronic Health Records (EHRs), telemedicine, and other digital health solutions. The amount of digital data in healthcare systems is increasing, making strong security measures necessary to safeguard this sensitive data.Tight Regulations: Stricter laws are being implemented by governments all over the world to guarantee the confidentiality and security of patient health data. Healthcare organizations must put in place sufficient security measures to protect patient data in accordance with laws like the General Data Protection Regulation (GDPR) in Europe and the Health Insurance Portability and Accountability Act (HIPAA) in the United States. Investing in health IT security solutions is mostly motivated by the need to comply with these laws.Growing Cyberthreats: Because of the sensitive patient data it contains, the healthcare sector has emerged as a major target for hackers. The number and sophistication of cyber threats like phishing attempts, ransomware, and data breaches are constantly increasing. A Ponemon Institute analysis states that the average cost of a data breach in the healthcare industry is higher than in any other industry. The need for strong IT security solutions is pushing healthcare companies to make these investments.Expanding Adoption of Cloud-based Solutions: Cloud-based solutions are becoming more and more common in the healthcare sector because they are scalable, flexible, and affordable. But the use of cloud computing also brings with it new security issues. Health IT security solutions, created especially to safeguard cloud-based environments and guarantee patient data confidentiality, are becoming increasingly popular among healthcare organisations.

In 2019, the sector with the highest cost per stolen record in data breaches was healthcare, which had a cost of 429 U.S. dollars per stolen record due to a data breach. The public sector had the lowest cost per stolen record, with a reported amount of only 78 U.S. dollars per record.

In a 2023 survey on cybersecurity readiness, 28 percent of the surveyed senior business, tech, and security executives in India claimed the damage caused by cyberattacks within their organizations over the past three years was worth between one and nine million U.S. dollars. Meanwhile, only seven percent of respondents attested to not having experienced any data breaches over that period. The rate of cybercrime in India has increased dramatically over the past few years.

As of January 2025, the most significant data privacy violation fine worldwide was for social media giant Meta. In May 2023, the Data Protection Commission (DPC) of Ireland decided to fine the company with 1.2 billion euros or 1.3 billion U.S. dollars. The Chinese vehicle-for rent company Didi Global ranked second. In July 2022, China's data privacy regulator fined the company 8.026 billion Chinese yuan, or 1.19 billion U.S. dollars. The 2021 Amazon fine issued by Luxembourg's data privacy regulation authorities was 877 million U.S. dollars and was the third-biggest data breach fine as of the measured month. The 2019 fine of 575 million U.S. dollars to Equifax followed. In this incident, because of unpatched vulnerabilities, nearly 150 million people were affected, which caused the American consumer credit reporting agency to pay at least 575 million U.S. dollars.

The global indicator 'Estimated Cost of Cybercrime' in the cybersecurity market was forecast to continuously increase between 2024 and 2029 by in total *** trillion U.S. dollars (+***** percent). After the eleventh consecutive increasing year, the indicator is estimated to reach ***** trillion U.S. dollars and therefore a new peak in 2029. Notably, the indicator 'Estimated Cost of Cybercrime' of the cybersecurity market was continuously increasing over the past years. Ransomware and manufacturing industry Cyberattacks remain a significant challenge for organizations worldwide, sectors such as manufacturing, finance, and insurance were the most affected by these attacks. Among the various types of cyber threats, ransomware was the most frequently detected, accounting for around ** percent of all incidents. The manufacturing industry, in particular, faced the highest number of ransomware attacks, making it the most targeted sector globally. Cybersecurity awareness and investments Organizations worldwide became increasingly aware of the dangers posed by cyberattacks, approximately ** percent of internet users became familiar terms such as with "ransomware." In response to these threats, companies invested more in cybersecurity. In 2024, the average annual increase in IT security budgets was expected to reach *** percent. In fact, for companies worldwide, enhancing the cyber resilience of their cybersecurity teams was the top spending priority in 2023.

In 2024, manufacturing saw the highest share of cyberattacks among the leading industries worldwide. During the examined year, manufacturing companies encountered more than a quarter of the total cyberattacks. Organizations in the finance and insurance followed, with around 23 percent. Professional, business, and consumer services ranked third, with 18 percent of reported cyberattacks. Manufacturing industry and cyberattacks The industry of manufacturing has been in the center of cyberattacks in a long time. The share of cyberattacks targeting organizations in this sector in 2018 was at 10 percent, while in 2024, it amounted to 26 percent. The situation is even more compliacted when we look at the cyber vulnerabilities found in this sector. In 2024, critical vulnerabilities in manufacturing companies lasted 205 days on average. IT perspective and prevention With recent technology developments, cybersecurity is crucial to an organization’s success. Realizing this, companies have been gradually increasing cybersecurity investments. Thus, in 2024, the cybersecurity budget worldwide was forecast to increase to nearly 283 billion U.S. dollars. Roughly nine in ten board directors of companies worldwide in professional services and media and entertainment industries say they expect an increase in the cybersecurity budget.

In 2024, the monetary damage caused by cybercrime reported to the United States' Internet Crime Complaint Center (IC3) saw a significant year-over-year increase, amounting to a historical peak of **** billion U.S. dollars. Overview of cybercrime in the U.S. Cybercrime continues to be one of the biggest challenges for governments around the world. In the United States, ****************** and ********* were among the most reported categories of cybercrime in 2024, with over ******* individuals falling victim to phishing attacks. Additionally, data breaches cost the U.S. organizations over ************ U.S. dollars on average as of February 2024. Fraud involving elderly Along with other reported internet crimes, online fraud is continuously growing. Targeting one of the most vulnerable groups, the elderly, cybercriminals show notorious skills in ************************************************************. Furthermore, individuals aged 60 and older, reported falling victims of extortion and personal data breach in 2024.

As of 2021, the average cost of a cyber incident to organizations in the UK was highest in the energy sector, with a median cost of ****** U.S. dollars per cyber event. The costs were significantly high in financial services, retail and wholesale, pharma and healthcare, and transport and distribution. The costs were lowest in the travel and leisure industry.

As of 2022, 11 threat groups were known to mainly target industrial sectors, such as manufacturing, utilities, government, and educational institutions. The first such groups detected were Xenotime and Kamacite, both operating since 2014. Each threat group impacted the industrial control systems (ICS) of targeted organizations. In 2022, the Chernovite threat group, identified in 2021, developed Pipedream, the seventh known Industrial Control System (ICS) and Operational Technology (OT) capability meant to disrupt and potentially destroy industrial processes.