The global indicator 'Estimated Cost of Cybercrime' in the cybersecurity market was forecast to continuously increase between 2024 and 2029 by in total 6.4 trillion U.S. dollars (+69.41 percent). After the eleventh consecutive increasing year, the indicator is estimated to reach 15.63 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 70 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 40 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 5.7 percent. In fact, for companies worldwide, enhancing the cyber resilience of their cybersecurity teams was the top spending priority in 2023.

Cybercrime costs in the United States reached an estimated 452.3 billion U.S. dollars in 2024. Between 2017 and 2024, this figure has seen a significant increase. According to the latest estimates, this dynamic will continue in upcoming years, reaching approximately 1.82 trillion U.S. dollars in cybercrime costs by 2028.

Cybercrime costs in the United Kingdom (UK) reached an estimated 51.81 billion U.S. dollars in 2024. Between 2017 and 2024, this figure has seen a significant increase. According to the latest estimates, this dynamic will continue in upcoming years, reaching approximately 98 billion U.S. dollars in cybercrime costs by 2028.

Annual costs of cybercrime in France reached an estimated 129 billion U.S. dollars in 2024. Between 2016 and 2023, this figure has seen a significant increase of over 88 billion U.S. dollars. According to the latest estimates, this dynamic will continue in upcoming years, reaching 419 billion U.S. dollars in cybercrime costs by 2028.

Cybercrime costs in Canada reached an estimated 3.82 billion U.S. dollars as of 2023. Between 2017 and 2023, this figure gradually increased. According to the latest estimates, this dynamic will continue in upcoming years, reaching approximately 4.78 billion U.S. dollars in cybercrime costs by 2028.

Cyber crime costs in Spain reached an estimated 49.42 billion U.S. dollars as of 2023. Between 2017 and 2023, this figure has seen a significant increase of over 40 billion U.S. dollars. According to the latest estimates, this dynamic will continue in upcoming years, reaching approximately 137.7 billion U.S. dollars in cyber crime costs by 2028.

The cost of internet crimes reached 850 billion U.S. dollars in 2022. Over the coming years, the impact of cybercrime would continue to increase. According to the forecasts, the costs were projected to reach 4.5 trillion U.S. dollars by 2028.

The estimated cost of cybercrime in the cybersecurity market in Indonesia was forecast to continuously increase between 2024 and 2028 by in total 1.1 billion U.S. dollars (+20.33 percent). After the tenth consecutive increasing year, the estimated cost of cybercrime is estimated to reach 6.48 billion U.S. dollars and therefore a new peak in 2028. Notably, the estimated cost of cybercrime of the cybersecurity market was continuously increasing over the past years. The Statista Market Insights cover a broad range of additional markets.

Police-reported cybercrime, number of incidents and rate per 100,000 population, Canada, provinces, territories, Census Metropolitan Areas and Canadian Forces Military Police, 2014 to 2023.

In 2023, the monetary damage caused by cybercrime reported to the United States' Internet Crime Complaint Center (IC3) saw a year-over-year increase of around 21 percent, amounting to a historical peak of 12.5 billion U.S. dollars. Cybercrime in the U.S. Cybercrime continues to be one of the biggest challenges for governments around the world. In the United States, phishing and personal data breaches were among the most reported categories of cybercrime in 2022, with over 300 thousand people falling victim to phishing attacks. Additionally, data breaches cost the U.S. organizations over nine million U.S. dollars on average as of January 2023. Identity theft is a serious issue in the U.S. Along with other reported online crimes, identity theft was a prevalent issue that affected millions of people in the United States. The country ranked second globally in reported cases of identity theft, with an estimated 13.5 million Americans falling victim to this crime. As a result, millions of users had their lives turned upside down. In January 2023, 43 percent of identity theft victims reported wasting their time resolving issues, while 33 percent had no choice but to freeze their credit cards. Furthermore, sometimes threat actors targeted seniors, as in 2022, more than 4800 individuals over 60 reported being victims of identity theft.

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...

In 2020, the number of cybercrime cases in China doubled, reaching 282 thousand recorded cases in 2021. According to the report, fraud was among the leading types of internet criminal activity.

The Australian Cyber Security Centre (ACSC) received approximately 94 thousand cybercrime reports in the financial year 2023. The number of reports has increased in comparison to previous years, with approximately 76 thousand cybercrime reports filed in the financial year 2022.  Recent data breaches  When surveyed about the actions they would take following a reported hack or data breach, more than three quarters of Australian adults indicated that they would either pause or completely stop spending with a brand or organization in 2022., Less than one-fifth of respondents would continue spending with a brand but would be concerned.  In 2022, the global average cost of a data breach was 4.35 million US dollars. The average cost of a data breach in Australia was approximately 2.9 million US dollars.  Loss from scams  Victims of investment scams lost over 177 million Australian dollars in 2021. In the same year, dating and romance scams cost Australians approximately 56 million Australian dollars. False billing, remote access scams, and threats to life were also amongst the most reported scam types in Australia the same year. 

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.

According to Cognitive Market Research, the global healthcare cybersecurity market size is USD 18.2 billion in 2024 and will expand at a compound annual growth rate (CAGR) of 14.2% from 2024 to 2031. Market Dynamics of Healthcare Cybersecurity Market

Key Drivers for Healthcare Cybersecurity Market

Rise in cybercrime- The growing number of cyber threats is a major factor propelling the healthcare cybersecurity industry forward. Cyberattacks like data breaches, phishing, and ransomware are becoming more common and sophisticated, which is a major concern for healthcare businesses. Serious financial losses and harm to reputation can come from these attacks, which can also jeopardize private patient data and interrupt essential healthcare services. Additionally, healthcare cybersecurity measures are essential for healthcare businesses to safeguard their digital assets in the face of increasingly sophisticated attackers. Continuous monitoring systems, multi-factor authentication, and improved encryption are all part of this. Moreover, the comprehensive healthcare cybersecurity market is in high demand in the healthcare business due to the vital necessity to protect patient data and guarantee the availability and integrity of healthcare services.
Technology is advancing in healthcare at a rapid pace, which is another factor driving global healthcare cybersecurity.

Key Restraints for Healthcare Cybersecurity Market

The healthcare cybersecurity market is hindered by increasing concerns about cyberattacks and data safety risks.
The scarcity of qualified cybersecurity experts also hampering the market growth.

Introduction of the Healthcare Cybersecurity Market

Healthcare cybersecurity is the process and collection of tools used to prevent unauthorized access to protected health data, electronic health records (EHRs), and other digital assets. By protecting sensitive patient information from prying eyes, hackers, and other malicious actors, healthcare cybersecurity strives to maintain the data’s privacy, authenticity, and accessibility. A number of factors are propelling the industry forward, including rising cyberattacks, worries regarding privacy and security, the proliferation of the Internet of Things and linked devices, and the popularity of healthcare solutions hosted in the cloud. The importance of Internet of Things security in healthcare cybersecurity and the increasing use of healthcare information technology solutions in outpatient care facilities are some factors that will propel market demand. The rising number of data breaches in the health sector is driving the need for healthcare cybersecurity. Additionally, the healthcare industry and government programs are anticipated to enhance their investments in healthcare cybersecurity, which is predicted to contribute to the expanding market.

Market Analysis: Enterprise Cyber Security Solutions The global enterprise cyber security solutions market is projected to reach a staggering $70,710 million by 2033, driven by an impressive compound annual growth rate (CAGR) of 8.2% from 2025 to 2033. This growth is predominantly attributed to the rising incidence of cyberattacks and the increasing digitization of businesses, leading to an increased need for protecting sensitive data and critical infrastructure. The market is segmented based on type (security software, security hardware, security services) and application (government, education, enterprise, medical, others). Key market trends include the adoption of cloud-based cyber security solutions, the growing use of artificial intelligence (AI) and machine learning for threat detection and response, and the increasing demand for managed security services. The report also identifies key drivers such as the regulatory landscape, the rising cost of cybercrime, and the growing awareness of cyber security risks. Restraints include the shortage of skilled cyber security professionals and the high cost of implementing cyber security solutions. The market is dominated by companies like Venustech, Huawei, Topsec, Symantec Corporation, and DBAPP Security. The report provides an in-depth analysis of the market based on region, including North America, Europe, Asia-Pacific, and the Middle East & Africa, highlighting growth prospects and key players in each region. The global enterprise cyber security solutions market is expected to reach $170 billion by 2025, growing at a CAGR of 10.2%. The market is driven by the increasing adoption of cloud computing, the Internet of Things (IoT), and the proliferation of connected devices.

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...

In 2018, the average annualized cost of cyber crime attacks in the United States amounted to 27.37 million U.S. dollars. Second-ranked Japan averaged 13.57 million U.S. dollars in damages to attacked companies per year. Overall, the financial service sector had the highest annual costs caused by cyber crime.

The global digital forensics solutions market, valued at $7,485 million in 2025, is projected to experience robust growth, driven by the increasing volume of cybercrime, stringent data privacy regulations (like GDPR and CCPA), and the rising adoption of cloud computing and mobile devices. This expansion is further fueled by the increasing sophistication of cyberattacks and the consequent need for advanced forensic tools and expertise to investigate and prosecute digital crimes. The market is segmented by solution type (hardware, software, services) and application (government and defense, BFSI, telecom and IT, retail, healthcare, others). Government and defense sectors are expected to remain key drivers, with significant investments in cybersecurity infrastructure and digital forensics capabilities. However, the BFSI and healthcare sectors are also witnessing substantial growth due to the rising incidence of financial fraud and medical data breaches. The competitive landscape is marked by a mix of established players and emerging startups, each offering specialized solutions catering to the unique needs of diverse industries. The market's growth trajectory is expected to be influenced by factors such as technological advancements in AI and machine learning, which are enhancing the speed and accuracy of forensic investigations, and the increasing demand for skilled digital forensic professionals. The 11.6% CAGR projected through 2033 suggests a substantial market expansion. This growth will be geographically diverse, with North America and Europe maintaining significant market shares due to advanced technological infrastructure and robust regulatory frameworks. However, Asia-Pacific is anticipated to witness the fastest growth due to rapid economic development, increasing internet penetration, and rising cybercrime rates in emerging economies like India and China. Market restraints could include the high cost of advanced digital forensics solutions, the scarcity of skilled professionals, and challenges in adapting to the ever-evolving threat landscape. Nevertheless, the overall market outlook remains optimistic, fueled by consistent demand for secure and reliable digital forensic solutions across various sectors.

The annual costs of cybercrime in Italy reached an estimated 66 billion U.S. dollars in 2023. Between 2016 and 2023, this figure has seen a significant increase of over 60 billion U.S. dollars. According to the latest estimates, this trend will continue in upcoming years, reaching 175 billion U.S. dollars in cybercrime costs by 2026 in the country.