In the third quarter of 2024, the average ransom payment for cyberattacks in the United States amounted to over 479 thousand U.S. dollars, down from 850 thousand U.S. dollars in the third quarter of 2023. This figure had increased significantly since the first quarter of 2022, when the average amount of ransom payments in the U.S. was approximately 212 thousand U.S. dollars.

On average, ** percent of organizations worldwide were victims of a ransomware attack between January and February 2024, according to a survey conducted among cybersecurity leaders of worldwide organizations. France ranked first by the ransomware rate in companies, with ** percent reporting having encountered such an attack in the last 12 months. Companies in South Africa, Italy, and Austria followed, with up to ** percent of the organizations experiencing ransomware attacks.

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.

Market Summary of Cyber Security Consulting Market:

• Global Cyber Security Consulting market size 2023 was XX Million. Cyber Security Consulting Industry compound annual growth rate (CAGR) was XX% from 2024 till 2031. • The Cyber Threats and cyberattacks are driving the cyber-Security consulting the market's rapid growth along with Increase in the need for security in BFSI Sector. • The COVID-19 had presented obstacles for enterprises as they adjust to a work environment where telecommuting has turned into the new normal. Businesses were moving more quickly towards digital transformation, and cybersecurity is becoming a top priority • The dominating segment is the IT and Telecom. Mobile phones, smart IoT devices, data traffic subscribers, and SIM connections have all increased astronomically in the world. Because of this, network operators can now offer a significantly wider range of services, which requires them to handle more data security. • North America is the dominating region in this market due to the prevalence of large and mid-sized organization’s is rising, which is increasing the number of hosted servers and the frequency of cyberattacks.

Market Dynamics of Cyber Security Consulting Market

Key Drivers for Cyber Security Consulting Market

The Growing Complexity of Cyber Threats – The increasing occurrence and sophistication of cyberattacks, including ransomware and phishing, is leading to a heightened need for specialized consulting services that assist organizations in developing robust security frameworks and incident response plans.

Regulatory Compliance Obligations – The proliferation of data protection laws, such as GDPR, CCPA, and various local cybersecurity regulations, is prompting companies to seek professional guidance to ensure adherence and prevent expensive penalties.

Digital Transformation and Cloud Migration – As organizations transition to cloud-based infrastructures and embrace IoT, AI, and remote working arrangements, there is a greater demand for consulting services to tackle emerging vulnerabilities and safeguard digital environments.

Key Restraints for Cyber Security Consulting Market

The High Expense of Cybersecurity Consulting Services – Smaller businesses frequently perceive the expense of high-end consulting services as unaffordable, which hinders their adoption even in the face of increased risks.

The Lack of Skilled Cybersecurity Experts – A worldwide shortage of cybersecurity talent limits the accessibility of high-quality consulting resources, which in turn impacts project schedules and scope.

The Fast-Changing Threat Environment – The ongoing development of cyber threats complicates the ability of consultants to deliver sustainable solutions without regular updates and ongoing retainer agreements.

Key Trends for Cyber Security Consulting Market

The integration of AI and Machine Learning in Cybersecurity – Consultants are progressively adopting AI-based threat detection systems to forecast, recognize, and address security incidents more swiftly.

The Implementation of Zero Trust Architecture – An increasing inclination towards Zero Trust frameworks is resulting in customized consulting initiatives that emphasize network segmentation and stringent access controls.

Cybersecurity Awareness and Training Initiatives – Consulting companies are broadening their scope to include workforce education, offering phishing simulations and security training as components of a comprehensive defense strategy.

What was the Impact of COVID-19 on the Cyber Security Consulting Market?

The COVID-19 had presented obstacles for enterprises as they adjust to a work environment where telecommuting has turned into the new normal. Businesses were moving more quickly towards digital transformation, and cybersecurity is becoming a top priority. Ignoring cybersecurity threats could have serious consequences for operations, legality, reputation, and compliance. Technology has therefore taken on even more significance in both our personal and professional life. For Instance, In June 2020, Swissinfo.ch published data from the National Cyber Security Centre (NCSC) indicating that, in contrast to the average of 100–150, there were 350 recorded instances of c...

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.

Between March 2024 and February 2025, 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 lower, an average of **** million U.S. dollars during the measured period.

In 2024, organizations in the education and research sector saw the highest average weekly number of cyberattacks. The industry registered 3,574 cyberattacks. Government entities ranked second, with 2,286 weekly cyberattacks on average, while healthcare followed, with detected 2,210 incidents.

As of February 2025, the United States ranked first by the average cost of a data breach, ***** million U.S. dollars. The average cost of data breaches in the Middle East was **** million U.S. dollars. Benelux followed in the ranking, with **** million U.S. dollars. In the measured period, the global average data breach cost was **** 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 ** 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 *** thousand individuals in 2023. These attacks led to financial losses, with U.S. victims reporting nearly ** billion U.S. dollars in damages throughout the year. U.S. users and data privacy Despite only ** 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, ** 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.

During the first half of 2024, around ** percent of cyberattacks carried out in Italy had cybercrime as a purpose. Cyber espionage was another motivation, representing the main reason behind roughly **** percent of attacks. By contrast, information warfare only accounted for *** percent of the cyberattacks in the country in the last examined period. Data breaches in Italy In 2023, over half of the Italian digital population was alerted that their personal data had been breached, and **** percent of the alerted users had the misfortune of being affected by data compromise on the dark web. Despite a decrease in the number of data sets affected in data breaches between 2020 and 2023, Italy recorded almost *** million exposed data sets at the beginning of 2023.Meanwhile, the average cost of data breaches for both Italian companies and targeted users kept growing, reaching **** million U.S. dollars in 2024, up from the **** million U.S. dollars recorded in the previous year. The Italian privacy landscape: GDPR effects As a state member of the European Union, Italy is covered by the General Data Protection Regulation (GDPR). Since 2018, the GDPR has regulated online data privacy and has the responsibility to represent consumers’ interests within the digital and tech landscape of the Union. As of 2023, approximately *** fines were issued in Italy due to violations of the GDPR – making Italy the second country in Europe with the highest number of violations dispensed to tech companies. The highest GDPR fine ever issued in Italy was at the expense of Telecom Italia (TIM), one of the largest Italian telecommunications companies. TIM was fined approximately **** million euros in January 2020. GDPR is enforced and helped by the country's Garante della Privacy, the national institution overseeing Italian users’ online rights, cybersecurity, and digital privacy.

In 2023, the worldwide number of malware attacks reached 6.06 billion, an increase of 10 percent compared to the preceding year. In recent years, the highest number of malware attacks was detected in 2018, when 10.5 billion such attacks were reported across the globe. Malware attacks worldwide In 2022, worm malware was blocked over 205 million times. Another common malware type during that period, Emotet, primarily targeted the Asia-Pacific region. Overall, websites are the most common vector for malware attacks and recent industry data found that malware attacks were frequently received via exe files. Most targeted industries In 2022, the education sector was heavily targeted by malware, encountering 2,314 weekly attacks on average. Government and military organizations ranked second, followed by the healthcare units. Overall, in 2022, the education sector saw over five million malware attacks in the examined year.

Between November 2022 and October 2023, over 10 thousand organizations worldwide experienced data breaches that included confirmed data loss. Among selected industries, firms in the education and healthcare sector saw the highest number of data violations. Regarding organization size, larger ones were victimized by data breaches more than smaller companies.

Between November 2022 and October 2023, 97 percent of compromised information through lost and stolen assets was personal data. Furthermore, 46 percent of privilege misuse incidents occurred internally.