As of 2024, the average cost per stolen record in data breaches worldwide amounted to *** U.S. dollars, up from *** dollars in the previous year. The average cost of a data breach worldwide was **** million U.S. dollars.

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.

In 2024, the cost of a compromised record containing employees' personally identifiable information was 189 U.S. dollars, making it the highest-cost type of breached data record. The second-most expensive type of data record among the compromised data points was customers' personal identifiable information (PII), which cost 181 U.S. dollars.

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.

In 2024, the average cost of a data breach in Italy was 4.73 million U.S. dollars, up from 3.86 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 as of 2023.

As of 2024, the average cost of a data breach in France was 4.17 U.S. dollars, up from 4.08 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 as of 2023.

Introduction

Data Breach Statistics: A data breach, also called data leakage, happens when personal information is shared or lost without permission. It includes things like names, addresses, passwords, credit card numbers, or health records. Such breaches can occur if someone inside a company shares it by mistake or on purpose, if an unprotected device is lost or stolen, if hackers break into systems using weak points, or if people are tricked through phishing to give away private data. The common causes of data breaches are human error, lost or stolen devices, cyberattacks, phishing attacks, and insider threats.

This article includes several statistical analyses taken from different sources that include breach types, global incidents of data breaches, industry-wide data breaches, regional impacts, causes, breach size, impacts, breach detection, consumer awareness, and future analysis.

The largest reported data leakage as of January 2025 was the Cam4 data breach in March 2020, which exposed more than 10 billion data records. The second-largest data breach in history so far, the Yahoo data breach, occurred in 2013. The company initially reported about one billion exposed data records, but after an investigation, the company updated the number, revealing that three billion accounts were affected. The National Public Data Breach was announced in August 2024. The incident became public when personally identifiable information of individuals became available for sale on the dark web. Overall, the security professionals estimate the leakage of nearly three billion personal records. The next significant data leakage was the March 2018 security breach of India's national ID database, Aadhaar, with over 1.1 billion records exposed. This included biometric information such as identification numbers and fingerprint scans, which could be used to open bank accounts and receive financial aid, among other government services.

Cybercrime - the dark side of digitalization As the world continues its journey into the digital age, corporations and governments across the globe have been increasing their reliance on technology to collect, analyze and store personal data. This, in turn, has led to a rise in the number of cyber crimes, ranging from minor breaches to global-scale attacks impacting billions of users – such as in the case of Yahoo. Within the U.S. alone, 1802 cases of data compromise were reported in 2022. This was a marked increase from the 447 cases reported a decade prior. The high price of data protection As of 2022, the average cost of a single data breach across all industries worldwide stood at around 4.35 million U.S. dollars. This was found to be most costly in the healthcare sector, with each leak reported to have cost the affected party a hefty 10.1 million U.S. dollars. The financial segment followed closely behind. Here, each breach resulted in a loss of approximately 6 million U.S. dollars - 1.5 million more than the global average.

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.

During the third quarter of 2024, data breaches exposed more than *** million records worldwide. Since the first quarter of 2020, the highest number of data records were exposed in the first quarter of ***, more than *** 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 *** reported data breach incidents with confirmed data loss. The second were financial institutions, with *** 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 **** million U.S. dollars. Meanwhile, a leaked data record cost about *** U.S. dollars. The United States saw the highest average breach cost globally, at **** million U.S. dollars.

The average cyber attack takes 280 days to identify and contain and it costs an average of about $3.86 million to deal with properly.

Data breaches cost companies and businesses a lot of money. The average cost of a data breach is $3.86 million.

As of February 2024, data breaches caused by malicious insiders were the most costly, averaging **** million U.S. dollars per breach. Phishing attacks led to data breaches with an average cost of **** million U.S. dollars per incident. Similarly, breaches resulting from business email compromise also averaged **** million U.S. dollars during the examined period.

According to Cognitive Market Research, the Global Information Security Consulting Market is expected to have a market size of XX million in 2024 with a growing CAGR of XX% during the forecast period.

The Asia-Pacific region has the largest market share with an expected market size of XX million in 2024 with a growing CAGR of XX% during the forecast period.
North America is the fastest growing with an expected market size of XX million in 2024 with a growing CAGR of XX% during the forecast period.
Cloud Security has the largest market share with an expected market size of XX million in 2024 with a growing CAGR of XX% during the forecast period.
The cloud segment has the largest market share with an expected market size of XX million in 2024 with a growing CAGR of XX% during the forecast period.
Large Enterprise has the largest market share with an expected market size of XX million in 2024 with a growing CAGR of XX% during the forecast period.
The BFSI segment has the largest market share with an expected market size of XX million in 2024 with a growing CAGR of XX% during the forecast period.

Market Dynamics

Key drivers

The increasing number of cyber-attacks globally is favoring market growth

Strong security solutions are in more demand as a result of the growing anxiety that cyber assaults are causing among both individuals and enterprises. Any hostile action directed towards computer networks, infrastructures, personal computers, smartphones, or computer information systems is called a cyberattack. Because of this and the need for more stringent security and regulatory compliance, the information security consulting industry is growing quickly. For instance, according to McKinsey and company, cyberattacks are on track to cause $10.5 trillion a year in damage by 2025. That’s a 300 percent increase from 2015 levels. To protect against the onslaught, organizations around the world spent around $150 billion on cybersecurity in 2021, and this sum is growing by 12.4 percent a year. In all industries combined, the average cost of a single data breach as of 2022 was approximately 4.35 million US dollars. The healthcare industry was shown to be the most expensive for this, with each leak estimated to have cost the impacted party a whopping 10.1 million dollars. The segment on finances was closely followed. The Cam4 data breach in March 2020, which revealed over 10 billion data records, was the largest known data leak as of January 2024. The Yahoo data breach, which happened in 2013, is currently the second-largest data breach in history. To compact these increasing data breaches and cybercrimes, many company solutions have been in development and adopted. Cloud migration will remain a key component of many organizations' technological agendas. For this reason, cloud providers must be able to safeguard both standard and customized cloud configurations. Furthermore, there is a sharp rise in the demand for cyber security in the fields of healthcare, banking and financial services, aviation, and automobiles. Some of the main factors driving the demand for technologically advanced information security solutions among businesses are the emergence of IoT and connected technologies, the quick adoption of smartphones for digital payments, and the use of unsecured networks for accessing organizational servers. Therefore, the market is expected to grow significantly in the coming years.

(Source-http://https://www.statista.com/statistics/290525/cyber-crime-biggest-online-data-breachesworldwide/#:~:text=The%20largest%20reported%20data%20leakage,data%20breach%2C%20occurred%20in%202013.)

The rise in the number of regulations and developments has favoured the market growth

As cyber risks continue to grow, information security has become a key concern for both individuals and enterprises. The laws and regulatory requirements that are propelling the information security market's expansion are intended to strengthen cybersecurity defenses and shield private information from nefarious individuals. For instance, The United States government enacted two cybersecurity laws into law in June 2022. The first bill, the State and Local Government Cybersecurity Act of 2022, aims to improve cooperation between state, territorial, local, and tribal governments as well as the Cybersecurity and Infrastructure Security Agency (CISA). It is anticipated that these important actions will boost the i...

Did the COVID-19 pandemic really affect cybersecurity? Short answer – Yes. Cybercrime is up 600% due to COVID-19.

A Proposal for Implementation of Multi-Factor Authentication (MFA) System for Enhanced SecurityBy Stephen Mikah MakoshiApril, 2025IntroductionAs cybersecurity threats like phishing, credential theft, and data breaches continue to rise, safeguarding sensitive information has become a top priority for organizations. With over 80% of web application breaches linked to stolen credentials (Verizon, 2022), traditional password-based authentication is no longer sufficient. Multi-Factor Authentication (MFA) provides an additional layer of security by requiring multiple forms of identification, thus reducing the risk of unauthorized access (Conklin, WM. Arthur, & White, 2022). This proposal suggests implementing an MFA system to enhance security, mitigate risks, maintain regulatory compliance, and protect the organization's reputation.Cost/Benefit AnalysisA thorough cost/benefit analysis is essential before implementing MFA. Costs include procurement, installation, configuration, and training, while benefits comprise increased security, reduced risk of breaches, and improved user experience (D’costa-Alphonso & Lane, 2010). The analysis helps organizations assess the potential ROI of MFA.Cost AnalysisThe costs of implementing MFA include:1. Procurement: Between2,000and5,000 depending on the solution and vendor.2. Installation: Ranges from1,000to5,000 based on IT infrastructure.3. Configuration: Estimated between1,000to3,000 for system integration.4. Training: Around500to2,000 depending on training methods and employee numbers.5. Ongoing Maintenance: Typically between500to2,000 annually for updates and support (Cisco Systems, 2022).BenefitsImplementing MFA offers several benefits:1. Enhanced security by requiring additional authentication factors.2. Mitigation of risks such as unauthorized access and identity theft.3. Compliance with regulations like GDPR, HIPAA, and PCI DSS.4. Strengthened user authentication, reducing phishing attacks.5. Improved user experience through flexible MFA methods like biometrics or SMS codes.6. Integration with Single Sign-On (SSO) solutions and enhanced cybersecurity.Assessment of Risks Due to Current StateCurrently, relying solely on passwords exposes the organization to various risks, such as:· Password Vulnerabilities: Weak or reused passwords can be easily exploited via brute-force or credential stuffing attacks.· Limited Visibility: The lack of advanced monitoring of authentication attempts makes suspicious activities difficult to detect.· Regulatory Non-Compliance: A breach due to compromised passwords can lead to legal consequences.Evaluation of Vendors and TechnologiesChoosing the right MFA vendor involves evaluating:1. The flexibility of MFA methods provided.2. Compatibility with existing infrastructure.3. Integration with the identity and access management (IAM) system.4. Vendor reputation and track record.5. Cost-effectiveness and alignment with the organization's budget.Projected Improvements with MFA ImplementationPost-MFA implementation, we anticipate:1. Enhanced Security: Stronger authentication mechanisms will reduce unauthorized access.2. Regulatory Compliance: Improved compliance with industry standards and regulations.3. Reduced Reliance on Passwords: Decreased risk of security incidents related to passwords.4. Improved User Experience: Simplified, user-friendly MFA methods enhance productivity.5. Stronger Security Culture: A more proactive approach to cybersecurity across the organization.Cost and ScheduleCost Estimates: Total implementation costs are projected between5,000to17,000 for procurement, installation, configuration, training, and the first year of maintenance.Schedule:1. Assessment and Planning: 2-4 weeks.2. Procurement and Vendor Selection: 2-6 weeks.3. Installation and Configuration: 4-8 weeks.4. Testing and Integration: 2-4 weeks.5. Training: 1-2 weeks.6. Deployment: 2-4 weeks.7. Ongoing Maintenance: Continuous post-deployment monitoring.ConclusionThe implementation of an MFA system is a crucial step toward securing the organization's digital infrastructure. By reducing the risks associated with passwords and enhancing compliance with regulatory standards, MFA will significantly improve our cybersecurity defenses. It is essential that IT leaders prioritize MFA to safeguard the organization's data, assets, and reputation.

These cybersecurity statistics will help you understand the state of online security and give you a better idea of what it takes to protect yourself.

The Digital Risk Protection (DRP) Platform market is experiencing robust growth, driven by the increasing frequency and sophistication of cyber threats targeting organizations of all sizes. The market, valued at $4,947.1 million in 2025, is projected to exhibit significant expansion over the forecast period (2025-2033). While the precise CAGR is unavailable, considering the rapid technological advancements in cybersecurity and the escalating need for proactive threat intelligence, a conservative estimate of 15% annual growth is plausible. This translates to substantial market expansion over the next decade, fueled by factors such as rising digital transformation initiatives, expanding attack surfaces, and evolving regulatory compliance requirements. The market is segmented by deployment type (cloud-based and on-premise) and target user (large enterprises and SMEs), with cloud-based solutions gaining significant traction due to their scalability and cost-effectiveness. North America currently holds a dominant market share, primarily driven by the presence of established technology companies and a high concentration of cybersecurity investments. However, other regions, particularly Asia Pacific, are expected to witness rapid growth as digital adoption accelerates. The competitive landscape is characterized by a mix of established players like Proofpoint and newer entrants, fostering innovation and driving down costs. The market's success is further propelled by a growing awareness of the potential financial and reputational damage caused by data breaches and cyberattacks. Consequently, organizations are increasingly prioritizing proactive threat detection and mitigation strategies, boosting the demand for DRP platforms. The integration of artificial intelligence (AI) and machine learning (ML) capabilities within these platforms is a major trend, enhancing threat detection accuracy and response times. Future growth will depend on continuous innovation to address emerging threats, such as sophisticated phishing attacks and supply chain vulnerabilities. Furthermore, effective partnerships between DRP vendors and other cybersecurity solution providers will be crucial in providing comprehensive protection to organizations.

Over 95% of cybersecurity breaches occur as a result of human error.