As of February 2024, malware was the most prevalent type of cyberattack faced by companies and businesses worldwide, with around ***** in **** organizations reporting incidents of malware-based attacks. Phishing was the second-most common, affecting ** percent of companies worldwide. Credential stuffing was also significant, reported by ** percent of businesses.

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 2023, network intrusion was the most common type of cybercrime attack experienced by companies in the United States, accounting for ** percent of incidents. Business e-mail compromise (BEC) ranked second, with ** percent of data security incidents in U.S. companies. A further ** percent of companies reported having encountered inadvertent disclosure.

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.

Some industries are affected by cyber attacks more than others. These next cybersecurity statistics detail specifically who is affected by cyber-attacks and why they are.

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

In late 2024, a boutique digital marketing agency in Austin, Texas, experienced what seemed like a minor IT hiccup. Their systems froze for six hours. What they didn’t know was that a ransomware attack had quietly encrypted their data. Within 24 hours, the attacker demanded $25,000 in cryptocurrency. The firm,...

Introduction

Cyber Security Statistics: Cybersecurity has become a top priority for organizations worldwide, driven by the escalating volume and complexity of cyber threats. As businesses increasingly adopt digital technologies, the risk of cyberattacks, such as data breaches, ransomware, and phishing, has risen, creating significant challenges for data privacy and security.

The increasing frequency of high-profile cyber incidents has exposed vulnerabilities in various sectors, prompting governments and organizations to enhance their cybersecurity measures. In response, emerging technologies such as artificial intelligence and machine learning are being integrated to enhance threat detection and response capabilities.

The following statistics offer a comprehensive overview of the cybersecurity landscape, shedding light on the trends, risks, and developments that are shaping this critical field.

According to a 2024 survey of small business leaders and IT professionals in the United States, ** percent of small companies experienced both security breaches and data breaches in the examined year. In comparison, ** percent of companies reported not having suffered from any of these cyberattacks.

A quiet morning in Atlanta turned chaotic for a mid-sized healthcare provider. Every computer screen across the facility suddenly went dark, replaced by a single message: "Your data has been encrypted." Operations froze. Appointments were canceled. And the cost of recovery reached into the millions. Unfortunately, this isn’t a rare...

Pay attention to the following cybersecurity statistics to learn how to protect yourself from attacks.

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

This statistic presents the result of a survey on the share of companies affected by cyberattacks in Germany from 2017 to 2024. During 2024, it was found that 81 percent of responding companies had experienced incidents concerning data theft, corporate espionage or sabotage.This was an increase of almost 10 percent compared to the previous year.

Cyber Security as a Service Market Outlook

The global Cyber Security as a Service market size was valued at approximately $14 billion in 2023 and is projected to reach $41 billion by 2032, growing at a compound annual growth rate (CAGR) of 12.5% during the forecast period. This remarkable growth is driven by the increasing prevalence of cyber threats and the growing need for robust security solutions across various sectors.

The growth of the Cyber Security as a Service market can be attributed to several key factors. Firstly, the rapid digitization and adoption of cloud services have exposed businesses to a myriad of cyber threats, necessitating advanced security measures. The rise in sophisticated cyber-attacks, such as ransomware, phishing, and malware, has compelled organizations to seek comprehensive security solutions to safeguard their data and ensure business continuity. Additionally, regulatory requirements and compliance mandates across industries are driving the demand for managed security services, further propelling market growth.

Secondly, the increasing adoption of Internet of Things (IoT) devices has expanded the attack surface, making enterprises more vulnerable to cyber-attacks. As IoT devices become integral to business operations, securing these devices has become paramount. Cyber Security as a Service offers scalable and flexible solutions to monitor and protect IoT ecosystems, thereby addressing the security challenges posed by these interconnected devices. Furthermore, the growing awareness about the financial and reputational damage caused by data breaches is prompting businesses to invest heavily in cybersecurity services.

Thirdly, the shortage of skilled cybersecurity professionals is a significant growth driver for the market. Many organizations lack the in-house expertise required to effectively combat evolving cyber threats. As a result, they are increasingly turning to third-party service providers to manage their cybersecurity needs. Cyber Security as a Service offers access to a pool of experts, advanced technologies, and continuous monitoring capabilities, enabling businesses to strengthen their security posture without the need for extensive internal resources.

The integration of Financial Services Cybersecurity Systems and Services is becoming increasingly vital in the face of evolving cyber threats. Financial institutions are prime targets for cybercriminals due to the sensitive nature of financial data and transactions. As a result, there is a growing emphasis on developing comprehensive cybersecurity frameworks that encompass both preventive and responsive measures. These systems and services are designed to protect financial data, ensure compliance with regulatory requirements, and maintain customer trust. By leveraging advanced technologies such as artificial intelligence and machine learning, financial institutions can enhance their threat detection and response capabilities, thereby safeguarding their operations from potential cyber threats.

From a regional perspective, North America is expected to dominate the Cyber Security as a Service market during the forecast period. The presence of major cybersecurity vendors, coupled with stringent regulatory frameworks and high adoption rates of advanced technologies, contribute to the region's leading position. However, the Asia Pacific region is anticipated to witness the highest growth rate, driven by increasing digital transformation initiatives, rising cybercrime incidents, and growing awareness about cybersecurity solutions.

Service Type Analysis

In the Cyber Security as a Service market, the service type segment is pivotal, covering services such as Threat Intelligence, Managed Security Services, Security Monitoring and Analytics, Incident Response, Compliance Management, and others. The diverse nature of cyber threats necessitates a variety of specialized services, each catering to different facets of cybersecurity.

Threat Intelligence services play a crucial role in the market. These services involve the collection, analysis, and dissemination of information about potential or ongoing cyber threats. By leveraging advanced analytics and machine learning, threat intelligence services provide actionable insights that help organizations anticipate and mitigate cyber risks before they materialize. The growing complexity of cyber threats and the need for proactive threat management

As per Cognitive Market Research's latest published report, the Global Cyber Security market size was $154.80 Billion in 2022 and it is forecasted to reach $353.15 Billion by 2030. Cyber Security Industry's Compound Annual Growth Rate will be 10.8% from 2023 to 2030. Market Dynamics of Cyber Security Market:

Increased target based cyber-attacks:

Every year, cybercrime dramatically rises as attackers become more proficient and sophisticated. In target-based cyberattacks, hackers or attackers focus on a single organisation because they have a particular business interest. Putting the attack together could take months so they can figure out the best way to get their exploit into your systems (or users). Because it has been precisely designed to attack your systems, processes, or persons, at the office and often at home, a targeted attack is frequently more harmful than an untargeted one. In addition to having an impact on the organization's and business's finances, cybersecurity also makes businesses more vulnerable and uncertain.

Cyberattacks can potentially harm a company's reputation, especially if private customer information is taken. The established customer trust may suffer as a result of cyberattacks. This breach of trust may be challenging to repair and may have long-term effects on the company. The activities of a company are also disrupted by these attacks, making it difficult or impossible to access vital systems or data. This might cause delays in manufacturing, disrupt customer service, and result in lost income. Businesses may occasionally have to stop operating completely until the attack is stopped, which will have a greater financial impact.

Growing need for automated cybersecurity due to the increased use of IoT devices.

Restraining Factor:

Budget restrictions and a lack of specialists among SME's:

Cybersecurity is crucial prat of any organization as it protects against unwanted access, theft, and damage to critical data and computer systems. Cyber-attacks are growing more prevalent in today's digital environment, and they could have very negative effects. Due to the complexity of technology, many organisations, especially SME's, cannot afford cybersecurity despite its necessity. Cybersecurity can be complicated and calls for knowledge in fields like software development, network security, and cryptography. The cost of acquiring and maintaining this expertise might be high. In addition, considering the consistently evolving cyber threats, the updating of cybersecurity measures is necessary. This requires ongoing investment in technology, personnel, and training. Therefore, budget restrictions coupled with expensive tools and software’s and a lack of specialists in SME's might affect the growth of the cyber security market.

Current Trends on Cyber Security:

Rising e-commerce platforms and online shopping:

Rising disposable income coupled with high penetration of internet and smartphone expected to drive the e-commerce market and online shopping. Online shopping is incredibly convenient for consumers as they can shop from the comfort of their homes or on-the-go using their smartphones or tablets. This is especially true during the COVID-19 pandemic when physical stores are closed or people prefer to avoid crowded places. In addition, online retailers can offer lower prices compared to physical stores due to lower overhead costs. Moreover, E-commerce platforms are open 24/7, which allows customers to shop at any time that is convenient for them. With advances in technology, e-commerce platforms have improved their shipping and delivery options. Overall, rising e-commerce platforms and online shopping provides new opportunities to cyber security market.

Impact of COVID-19 pandemic on Cyber Security Market:

With the widespread shift to remote work and online services, there has been a surge in cyber-attacks, making cyber security more important in COVID-19 pandemic. Organizations are investing in cyber security solutions to safeguard their systems and data as a result of the rise in cyberattacks brought on by the epidemic. The need for cyber security goods and services has increased as a result. Budget restrictions, especially for SME's, have been brought on by the economic burden of the epidemic on many organisations. Cost-effective cyber security solutions are now receiving more attention as a result of this. The CO...

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

Introduction

Chinese Cyber Attack Statistics: Chinese cyber attacks have become a major global issue over the last 20 years. These attacks target governments, businesses, and important industries around the world. Many of these attacks are supported by the state, and their main goals are spying, stealing intellectual property, and gaining advantages in areas like technology, defence, and telecommunications.

In 2024, the global digital world will continue to face threats from cyberattacks linked to China. Because of this, governments and organisations need to strengthen their cybersecurity measures to protect their assets and data from these harmful activities.

As of 2024, ** percent of businesses that encountered the most disruptive cybersecurity breaches or attacks in the last 12 months in the United Kingdom (UK) reported them to banks, building societies, or credit card companies. A further **** percent reported it to the internet or network service provider.