In 2024, the number of data compromises in the United States stood at 3,158 cases. Meanwhile, over 1.35 billion individuals were affected in the same year by data compromises, including data breaches, leakage, and exposure. While these are three different events, they have one thing in common. As a result of all three incidents, the sensitive data is accessed by an unauthorized threat actor. Industries most vulnerable to data breaches Some industry sectors usually see more significant cases of private data violations than others. This is determined by the type and volume of the personal information organizations of these sectors store. In 2024 the financial services, healthcare, and professional services were the three industry sectors that recorded most data breaches. Overall, the number of healthcare data breaches in some industry sectors in the United States has gradually increased within the past few years. However, some sectors saw decrease. Largest data exposures worldwide In 2020, an adult streaming website, CAM4, experienced a leakage of nearly 11 billion records. This, by far, is the most extensive reported data leakage. This case, though, is unique because cyber security researchers found the vulnerability before the cyber criminals. The second-largest data breach is the Yahoo data breach, dating back to 2013. The company first reported about one billion exposed records, then later, in 2017, came up with an updated number of leaked records, which was three billion. In March 2018, the third biggest data breach happened, involving India’s national identification database Aadhaar. As a result of this incident, over 1.1 billion records were exposed.

During the third quarter of 2024, data breaches exposed more than 422 million records worldwide. Since the first quarter of 2020, the highest number of data records were exposed in the first quarter of 202, more than 818 million data sets. Data breaches remain among the biggest concerns of company leaders worldwide. The most common causes of sensitive information loss were operating system vulnerabilities on endpoint devices. Which industries see the most data breaches? Meanwhile, certain conditions make some industry sectors more prone to data breaches than others. According to the latest observations, the public administration experienced the highest number of data breaches between 2021 and 2022. The industry saw 495 reported data breach incidents with confirmed data loss. The second were financial institutions, with 421 data breach cases, followed by healthcare providers. Data breach cost Data breach incidents have various consequences, the most common impact being financial losses and business disruptions. As of 2023, the average data breach cost across businesses worldwide was 4.45 million U.S. dollars. Meanwhile, a leaked data record cost about 165 U.S. dollars. The United States saw the highest average breach cost globally, at 9.48 million U.S. dollars.

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The data breach notification software market size has the potential to grow by USD 725.41 million during 2020-2024, and the market’s growth momentum will accelerate during the forecast period.

This report provides a detailed analysis of the market by deployment (on-premise and cloud-based) and geography (North America, Europe, APAC, MEA, and South America). Also, the report analyzes the market’s competitive landscape and offers information on several market vendors, including AO Kaspersky Lab, Canopy Software Inc., Exterro Inc. , Infocomply Corp., International Business Machines Corp., OneTrust LLC, PKWARE Inc., Proteus-Cyber Ltd., RADAR LLC, and Thales Group.

Market Overview

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Market Competitive Analysis

The market is fragmented. AO Kaspersky Lab, Canopy Software Inc., Exterro Inc., Infocomply Corp., International Business Machines Corp., OneTrust LLC, PKWARE Inc., Proteus-Cyber Ltd., RADAR LLC, and Thales Group are some of the major market participants. Factors such as the rise in the number of data breach notification regulations will offer immense growth opportunities. However, the lack of awareness regarding cybersecurity may impede market growth. To make the most of the opportunities, vendors should focus on growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

To help clients improve their market position, this data breach notification software market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market’s competitive landscape and offers information on the products offered by various companies. Moreover, this data breach notification software market analysis report provides information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.

This report provides information on the production, sustainability, and prospects of several leading companies, including:

AO Kaspersky Lab Canopy Software Inc. Exterro Inc. Infocomply Corp. International Business Machines Corp. OneTrust LLC PKWARE Inc. Proteus-Cyber Ltd. RADAR LLC Thales Group

Data Breach Notification Software Market: Segmentation by Geography

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The report offers an up-to-date analysis regarding the current global market scenario, latest trends and drivers, and the overall market environment. North America will offer several growth opportunities to market vendors during the forecast period. The increasing number of cyberattacks and threats will significantly influence data breach notification software market's growth in this region.

44% of the market’s growth will originate from North America during the forecast period. The US is one of the key markets for data breach notification software in North America. This report provides an accurate prediction of the contribution of all segments to the growth of the data breach notification software market size.

Data Breach Notification Software Market: Key Highlights of the Report for 2020-2024

CAGR of the market during the forecast period 2020-2024 Detailed information on factors that will data breach notification software market growth during the next five years Precise estimation of the data breach notification software market size and its contribution to the parent market Accurate predictions on upcoming trends and changes in consumer behavior The growth of the data breach notification software industry across North America, Europe, APAC, MEA, and South America A thorough analysis of the market’s competitive landscape and detailed information on vendors Comprehensive details of factors that will challenge the growth of data breach notification software market vendors

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Analysis of ‘List of Top Data Breaches (2004 - 2021)’ provided by Analyst-2 (analyst-2.ai), based on source dataset retrieved from https://www.kaggle.com/hishaamarmghan/list-of-top-data-breaches-2004-2021 on 14 February 2022.

--- Dataset description provided by original source is as follows ---

This is a dataset containing all the major data breaches in the world from 2004 to 2021

As we know, there is a big issue related to the privacy of our data. Many major companies in the world still to this day face this issue every single day. Even with a great team of people working on their security, many still suffer. In order to tackle this situation, it is only right that we must study this issue in great depth and therefore I pulled this data from Wikipedia to conduct data analysis. I would encourage others to take a look at this as well and find as many insights as possible.

This data contains 5 columns: 1. Entity: The name of the company, organization or institute 2. Year: In what year did the data breach took place 3. Records: How many records were compromised (can include information like email, passwords etc.) 4. Organization type: Which sector does the organization belong to 5. Method: Was it hacked? Were the files lost? Was it an inside job?

Here is the source for the dataset: https://en.wikipedia.org/wiki/List_of_data_breaches

Here is the GitHub link for a guide on how it was scraped: https://github.com/hishaamarmghan/Data-Breaches-Scraping-Cleaning

--- Original source retains full ownership of the source dataset ---

As of 2024, the average cost of a data breach in the United States amounted to 9.36 million U.S. dollars, down from 9.48 million U.S. dollars in the previous year. The global average cost per data breach was 4.88 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 5.13 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 4.53 million U.S. dollars, while in Germany it stood at 5.31 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 nine million U.S. dollars. Financial institutions ranked second, with an average cost of six million U.S. dollars for a data breach. Detection and escalation was the costliest segment in data breaches worldwide, with 1.63 U.S. dollars on average. The cost for lost business ranked second, while response following a breach came across as the third-costliest segment.

The Cyber Liability Insurance industry has benefited from more services being conducted online, leading more users to exchange their personal and financial information online. Cyberattacks and hacking could result in customer identity theft and financial loss for a company, placing liability on the business. Cyber liability insurance has become increasingly attractive to companies seeking protection against financial losses from legal issues stemming from data breaches. E-commerce and online auctions have increased demand for services as these online retailers often fall victim to cybersecurity attacks. Over the past five years, revenue has been growing at a CAGR of 18.8% to $6.4 billion, including an expected increase of 5.8% in 2024 alone. Over the past five years, the industry has benefited from companies integrating online services into their business operations. In recent years, financial institutions have been one source of increased demand for insurers' services. These institutions are privy to a wide range of their customer's personal and financial information, making them a prime target for a cybersecurity attack. In addition, many businesses shifted their operations online, increasing demand for cybersecurity. Also, major cybersecurity breaches have contributed to the demand for industry services. Over the next five years, the percentage of business conducted online is expected to accelerate, encouraging more businesses to purchase cyber liability insurance to prevent significant financial loss from potential cyberattacks. Growth in major markets, like healthcare, financial services and retail, is expected to help push the industry forward during the outlook period because of growing concerns regarding identity theft. Also, internet traffic volume is expected to climb rapidly over the next five years, prompting new online businesses to purchase cyber liability coverage. Overall, industry revenue is forecast to grow at a CAGR of 5.2% to $8.3 billion over the five years to 2029.

The digitalisation of all areas of life is increasing the importance of IT security worldwide. Technologies such as the Internet of Things (IoT) and cloud services are increasing the complexity of IT systems and therefore the risk of cyber threats such as data leaks and ransomware. These pose a serious threat to private individuals, companies and government organisations, which can lead to financial losses and reputational damage. Therefore, investments are being made in robust cyber security strategies to increase resilience against attacks. The turnover of IT security service providers has increased by an average of 6.4% per year since 2019 to 4.1 billion euros. In 2024, industry turnover is expected to grow by 5.6%. In Germany, data protection and compliance have a high priority, especially due to the General Data Protection Regulation. Companies rely on encryption, access controls and privacy by design to fulfil legal requirements and respond immediately in the event of data breaches. German companies are also working proactively to minimise the risks posed by security vulnerabilities in the supply chain, for example through thorough partner checks and strict contractual requirements. The use of AI and machine learning is increasingly improving the efficiency of IT security through automated detection and defence against cyber threats, freeing up security teams to focus on strategic tasks. In the next five years, industry revenue is expected to grow by an average of 5.5% per year, reaching a value of 5.3 billion euros in 2029. With the increasing use of cloud services and the associated relocation of sensitive data, the importance of cloud security solutions is growing. In the wake of the increased risks of cyber warfare and the increasing digitalisation of critical infrastructures, strengthening IT security is essential. In the manufacturing industry, edge computing and the Internet of Things (IoT) are creating new security challenges, as many IoT devices are vulnerable to attacks due to their immature security mechanisms.

The expanding use of mobile devices and cloud servers to store sensitive data and the rise in technologically sophisticated cyber criminals threatening to steal that data have accelerated demand for online security. IT security consultants continue to benefit from the increasing adoption of e-commerce, social networking and cloud computing across private and public clients. Increased online usage amid the pandemic further fueled growth, even as broader economic conditions cratered, as more downstream clients shifted their operations toward the online space. The growing prevalence of high-profile cybersecurity attacks and the risks associated with potential data breaches will continue to propel demand, particularly among larger businesses and corporate clients. Over the past five years, revenue grew at a CAGR of 3.8% to an estimated $17.6 billion, including an estimated 2.7% in 2024. These trends will also favor profit, as economic stabilization following high inflation and a greater embrace of digitization will stabilize profitability. The accelerating number of broadband connections and rapid growth in the number of mobile connections have contributed to rising demand for IT security and systems integration solutions. IT security consultants benefit from these trends as they increase the amount of data stored in cloud servers that require protection. As consumers and companies rely more on online networks to conduct business, IT security consultants indirectly benefit from the growing risk of potential security breaches. Moving forward, the evolving threat of cyberattacks and hackers, coupled with greater quantities of digital connections, will enhance security demand across core downstream markets. Large-scale clients in sectors such as banking, financial services, telecommunications and retail will continue to react proactively to the risk of high-profile, reputation-threatening breaches. Government agencies contending with high-stake security issues will require higher IT security investments over the next five years. However, economic recovery and continued competition from in-house cybersecurity protection will subdue demand. These trends are expected to cause revenue to grow at a CAGR of 2.2% to an estimated $19.7 billion through the end of 2029.

Microsoft PowerPivot add-on for Excel can be used to handle larger data sets. The Microsoft PowerPivot add-on for Excel is available using the link in the 'Related Links' section - https://www.microsoft.com/en-us/download/details.aspx?id=43348 Once PowerPivot has been installed, to load the large files, please follow the instructions below: Start Excel as normal Click on the PowerPivot tab Click on the PowerPivot Window icon (top left) In the PowerPivot Window, click on the "From Other Sources" icon In the Table Import Wizard e.g. scroll to the bottom and select Text File Browse to the file you want to open and choose the file extension you require e.g. CSV Please read the below notes to ensure correct understanding of the data. Microsoft PowerPivot add-on for Excel can be used to handle larger data sets. The Microsoft PowerPivot add-on for Excel is available using the link in the 'Related Links' section - https://www.microsoft.com/en-us/download/details.aspx?id=43348 Once PowerPivot has been installed, to load the large files, please follow the instructions below: 1. Start Excel as normal 2. Click on the PowerPivot tab 3. Click on the PowerPivot Window icon (top left) 4. In the PowerPivot Window, click on the "From Other Sources" icon 5. In the Table Import Wizard e.g. scroll to the bottom and select Text File 6. Browse to the file you want to open and choose the file extension you require e.g. CSV Please read the below notes to ensure correct understanding of the data. Fewer than 5 Items Please be aware that I have decided not to release the exact number of items, where the total number of items falls below 5, for certain drugs/patient combinations. Where suppression has been applied a * is shown in place of the number of items, please read this as 1-4 items. Suppressions have been applied where items are lower than 5, for items and NIC and for quantity when quantity and items are both lower than 5 for the following drugs and identified genders as per the sensitive drug list; When the BNF Paragraph Code is 60401 (Female Sex Hormones & Their Modulators) and the gender identified on the prescription is Male When the BNF Paragraph Code is 60402 (Male Sex Hormones And Antagonists) and the gender identified on the prescription is Female When the BNF Paragraph Code is 70201 (Preparations For Vaginal/Vulval Changes) and the gender identified on the prescription is Male When the BNF Paragraph Code is 70202 (Vaginal And Vulval Infections) and the gender identified on the prescription is Male When the BNF Paragraph Code is 70301 (Combined Hormonal Contraceptives/Systems) and the gender identified on the prescription is Male When the BNF Paragraph Code is 70302 (Progestogen-only Contraceptives) and the gender identified on the prescription is Male When the BNF Paragraph Code is 80302 (Progestogens) and the gender identified on the prescription is Male When the BNF Paragraph Code is 70405 (Drugs For Erectile Dysfunction) and the gender identified on the prescription is Female When the BNF Paragraph Code is 70406 (Drugs For Premature Ejaculation) and the gender identified on the prescription is Female This is because the patients could be identified, when combined with other information that may be in the public domain or reasonably available. This information falls under the exemption in section 40 subsections 2 and 3A (a) of the Freedom of Information Act. This is because it would breach the first data protection principle as: a. it is not fair to disclose patients personal details to the world and is likely to cause damage or distress. b. these details are not of sufficient interest to the public to warrant an intrusion into the privacy of the patients. Please click the below web link to see the exemption in full. https://www.legislation.gov.uk/ukpga/2000/36/section/40

Between January and September 2024, healthcare organizations in the United States saw 491 large-scale data breaches, resulting in the loss of over 500 records. This figure has increased significantly in the last decade. To date, the highest number of large-scale data breaches in the U.S. healthcare sector was recorded in 2023, with a reported 745 cases.

As of January 2024, 79 percent of businesses in the United Kingdom (UK) reported that they managed to immediately restore operations back to normal after their most disruptive cyber attack. A further 13 percent said it took them less than a day to do so, while five percent said it took less than a week.

The growth in the commercial security market is inevitable due to the increasing number of business and commercial property holders concerned with theft, vandalism, and unlawful access to their premises. Some of the most outstanding drivers in this respect are smart city initiatives, AI-based surveillance technologies, and cloud-based security solutions.Some of these include video surveillance, access control systems, biometric authentication, and cybersecurity solutions, that are integrated holistically. When there is the need for a remote monitoring platform and real-time threats, that is when it calls for an IoT-enabled security solution.However, the rise in the market will be derailed with high investment cost to enter coupled with concerns for its privacy along with increased breach in cybersecurity. However, along with the expansion of budgets in security across the large enterprises besides mounting requirements for regulations, enhanced call for more sophisticated, AI-driven, as well as high-end threat detection solutions will drive the growth further. Continuing the technological advancement can spur further advancement in commercial security well accepted to be in usage in the near future.Concentration & CharacteristicsConcentration: The commercial security market is highly concentrated, with the top five dominant players Honeywell International Inc., Tyco International Ltd, Bosch Security Systems, ASSA ABLOY AB, and Allegion, accounting for over 50% of the global market share.Characteristics of Innovation: The commercial security market is characterized by continuous advancements, with firms investing heavily in research and development to create innovative solutions. These technologies range from cloud-based platforms to IoT enabled gadgets.Impact of Regulations: Government policies and regulations significantly influence the commercial security market. Standards and rules vary from country to country; as a result, companies must customize their products and services to meet local requirements.Product Substitutes: DIY security systems and cost-effective open-source software solutions are gaining popularity in the market. These substitutes threaten conventional commercial security companies and increase competitive pressure.End-user Concentration: The commercial security industry has a diverse client base and serves a range of industries, including healthcare, retail, and banking. The need for security solutions is high in these markets due to the high risk of breaches and the value of assets.Level of M&A: Strategic acquisitions and collaborations between major players in the commercial security sector are common. This trend is anticipated to continue in the future as businesses seek to expand their portfolios and gain market share.Key Commercial Security Market Trends HighlightedConvergence of Physical and Cyber Security: Commercial security is increasingly influenced by the convergence of physical security measures with cybersecurity. Businesses are embracing integrated solutions to combat sophisticated threats targeting both physical and digital assets.Rise of Artificial Intelligence (AI): AI is revolutionizing the commercial security industry. AI-powered systems analyze data from security sensors, providing real-time insights and enabling proactive threat detection and response.Growing Demand for Cloud-Based Security Platforms: The increasing use of cloud-based applications and services is driving the demand for cloud-based security platforms, providing scalability and flexibility.Focus on Cybersecurity Measures: Commercial organizations are prioritizing cybersecurity measures due to the increasing frequency and severity of cyber threats. This includes implementing solutions to prevent and mitigate data breaches and network intrusions.Emergence of Smart Buildings and Cities: The growing prevalence of smart buildings and cities is creating new opportunities for commercial security providers. These environments require sophisticated security systems to protect infrastructure, assets, and residents.Key Region or Country & Segment to Dominate the MarketKey Region: North America is the dominant region in the global commercial security market, accounting for approximately 35% of the revenue share.Key Country: The United States stands as the largest market for commercial security solutions, driven by advanced infrastructure, increasing security concerns, and stringent regulations.Dominating Segment: The video surveillance segment is expected to maintain its dominance in the commercial security market. The increasing adoption of IP-based cameras, advanced analytics, and facial recognition technologies is fueling its growth.Commercial Security Market Product InsightsSmart Locks: Smart locks offer keyless entry, remote access, and integration with smart home systems, enhancing convenience and security.Security Cameras: Security cameras provide real-time monitoring, recording, and video analytics, deterring crime and providing evidence in case of incidents.Sensors: Sensors detect and report on events such as motion, temperature, and intrusion attempts, providing early warning and triggering appropriate responses.Intruder Alarms: Intruder alarms alert occupants and authorities to unauthorized entry attempts, helping prevent theft and damage.Software: Security software includes video management systems, access control software, and analytics platforms, enabling centralized management and data analysis.Access Control: Access control systems regulate who can enter certain areas, preventing unauthorized access and protecting sensitive assets.Surveillance Systems: Surveillance systems provide comprehensive monitoring and recording of activities within a facility, increasing situational awareness and security.Driving Forces: What's Propelling the Commercial Security MarketIncreasing Security Threats: The rising incidence of crime, terrorism, and cyberattacks is driving the demand for commercial security solutions.Government Regulations: Stringent government regulations and policies are mandating the implementation of security measures in various industries.Advancements in Technology: Technological advancements, such as AI, cloud computing, and IoT, are enhancing the capabilities of security systems.Growing Awareness of Security Risks: Businesses are becoming increasingly aware of the potential financial and reputational damage resulting from security breaches.Insurance Requirements: Insurance companies are often requiring commercial establishments to have adequate security measures in place to qualify for coverage.Challenges and Restraints in Commercial Security MarketHigh Cost of Implementation: The initial investment for deploying commercial security systems can be substantial.Skilled Workforce Shortage: The industry faces a shortage of skilled professionals to design, install, and maintain security systems.Data Privacy Concerns: The use of data collected from security systems raises privacy concerns, and organizations need to ensure compliance with privacy regulations.False Alarms: False alarms can be a nuisance and result in wasted time and resources for law enforcement and security personnel.Technological Complexity: The integration of complex security technologies can present challenges in terms of compatibility, maintenance, and troubleshooting.Emerging Trends in Commercial Security MarketConvergence with IoT and Smart Buildings: Commercial security systems are increasingly integrating with IoT devices and smart building technologies, enhancing automation and efficiency.Biometric Authentication: Biometric authentication technologies, such as facial recognition and fingerprint scanning, are gaining popularity for access control and identity verification.Blockchain for Security: Blockchain technology is being explored for secure data sharing and access control in commercial security systems.Predictive Analytics: Predictive analytics is used to identify potential security risks and vulnerabilities, enabling proactive measures.Managed Security Services: The demand for managed security services is increasing, as organizations outsource their security operations to specialized providers.Growth Catalysts in Commercial Security IndustrySmart City Initiatives: Smart city initiatives are creating substantial demand for integrated security solutions, including video surveillance, access control, and public safety systems.Adoption of Remote Work: The increasing prevalence of remote work is driving the need for robust security measures to protect distributed workforces and assets.Emergence of New Threats: The continuous evolution of security threats, such as ransomware and phishing attacks, is fueling the demand for advanced security solutions.Government Funding and Incentives: Governments are providing funding and incentives to businesses for implementing security measures, stimulating market growth.Partnerships and Collaborations: Strategic partnerships between security providers, technology companies, and systems integrators are accelerating innovation and market expansion.Key Companies in the Commercial Security Market IncludeHoneywell International Inc. (US)Tyco International Ltd (US)Bosch Security Systems (Germany)ASSA ABLOY AB (Sweden)Allegion (US)Control4 (US)UTC Fire & Security (US)Godrej & Boyce Manufacturing Company (India)Nortek Security and Control (US)ADT Security Services (US)United Technologies Corporation (US)Recent Developments in Commercial SecurityMay 2023: Hangzhou Hikvision Digital Technology Co., Ltd launched a 4G solar-powered camera kit, a wireless bridge, and mobile solar security tower solutions.May 2023: Carrier launched i-Vu Pro v8.5 software, an i-Vu building automation system (BAS) with enhanced security features.March 2023: Johnson Controls unveiled the IQ Pro Hybrid Security Panel, refining intrusion detection capabilities in commercial facilities.March 2023: Securitas Technology was

The rapid expansion of the Australian IT sector has generated high demand for cybersecurity software services. With digitalisation and the increased reliance on technologies like cloud services and IoT, advanced cybersecurity measures have moved from being optional to mandatory. Large multinational companies dominate the industry, especially in offering antivirus software, although local providers are innovating to stay competitive. Many providers are applying AI-enhanced managed cybersecurity response systems to pre-emptively identify and mitigate suspicious activities to gain a competitive edge. Recent high-profile data breaches, like those at Medibank and Optus, have emphasised the necessity for such advanced measures, incentivising businesses to invest in cybersecurity solutions. Revenue is expected to climb by 2.1% to $1.9 billion in the current year, constituting an annualised 2.3% growth over the five years through 2023-24. The industry has witnessed significant demand in response to evolving cyber threats, technological advancements and the shift to remote work. An essential component of this is the enhanced capacity of antivirus software to tackle rising cybersecurity incidents and the integration of AI technologies. Also, the adoption of virtual private networks (VPNs) has risen, driven mainly by a surge in remote working and increased privacy concerns. Authentication and data encryption services have also become integral in light of growing cyber threats and the need for secure remote work infrastructure. Despite heightened competition and costs, cyber security software providers have enjoyed increased profitability thanks to strategic business model changes with recurring revenue streams, expansion in service offerings and a focus on high-growth sectors. The spread of remote work arrangements, accelerated digitisation and technological advancements are set to facilitate significant revenue growth. The necessity for corporate and government network and data security is evident, promoting the use of secure tools like VPNs and advanced authentication systems. Such trends are amplified by a favourable work-life balance for individuals and cost savings for businesses, suggesting sustainable growth. The integration of advanced AI-driven solutions, like those from Accenture, for productivity enhancement will provide additional momentum. Overall, revenue is projected to climb by an annualised 3.7% through the end of 2028-29, to $2.3 billion.

Between March 2022 and February 2024, the highest average cost of a data breach, nearly 9.77million U.S. dollars, was detected in the healthcare industry. The financial sector ranked second, with 6.08 million U.S. dollars on average per breach. The global average data breach cost in the measured period was 4.88 million U.S. dollars. Data breaches in the public sector cost relatively low, an average of 2.55 million U.S. dollars during the measured period.

As of 2024, the average data breach cost in the United Kingdom (UK) was around 4.53 million U.S. dollars. In the measured period, 2022 registered the highest cost for breached data, more than five million U.S. dollars. The figure, thus, has increased from 3.9 million U.S. dollars since 2020.

As of 2023, over 72 percent of businesses worldwide were affected by ransomware attacks. This figure represents an increase on the previous five years and was by far the highest figure reported. Overall, since 2018, more than half of the total survey respondents each year stated that their organizations had been victimized by ransomware. Most targeted industries
In 2023, the healthcare industry in the United States was once again most targeted by ransomware attacks. This industry also suffers most data breaches as a consequence of cyberattacks. The critical manufacturing industry ranked second by the number of ransomware attacks, followed by the government facilities industry. Ransomware in the manufacturing industry
The manufacturing industry, along with its subindustries, is constantly targeted by ransomware attacks, causing data loss, business disruptions, and reputational damage. Often, such cyberattacks are international and have a political intent. In 2023, compromised credentials were the leading cause of ransomware attacks in the manufacturing industry.

In 2023, there were more than 809 incidents of data compromises in the healthcare sector in the United States. Reaching its all-time highest. This indicates a significant growth since 2005 when the industry saw only 16 cases of data compromises in the country.

The value of stand-alone cyber insurance premiums stood at nearly five billion U.S. dollars in 2023. This segment experienced rapid growth in 2022 when premiums amounted to 5.1 billion U.S. dollars, up from 3.1 billion U.S. dollars in the previous year. The average cost of a data breach varies across industries, though the healthcare and financial sectors have suffered the most expensive data breaches on average.

More than 1.3 million cyber attacks were reported across India in 2022. This was a significant increase compared to 2019. The country was amongst the top five with the most number of cyber security incidents that year. Furthermore, India's ranked third in terms of internet user numbers.

Since the introduction of the General Data Protection Regulation (GDPR) in May 2018, the largest fine imposed in Spain was against Google LLC. In May 2022, the company was fined 10 million euros for illegal data processing. The second largest penalty was given to Vodafone España, S.A.U., which was fined 8.15 million euros in March 2021, and received another fine of 3.94 million euros in February 2020, both for various GDPR violations. Caixabank S.A., a Spanish company, was fined two fines of five million euros each, and an additional fine of three million euros on different occasions.