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.

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.

As of February 2025, the United States ranked first by the average cost of a data breach, ***** million U.S. dollars. The average cost of data breaches in the Middle East was **** million U.S. dollars. Benelux followed in the ranking, with **** million U.S. dollars. In the measured period, the global average data breach cost was **** million U.S. dollars. Phishing scams in the U.S. Breached data often ends up in the hands of threat actors who use it for malicious purposes, including online scams. Phishing continues to be a major threat in North America, particularly on smartphones. In the second quarter of 2023, the region recorded the highest number of phishing and malicious attack attempts globally. The United States was particularly affected, with ** percent of U.S. citizens reporting being targeted by scam texts, e-mails, and calls on a daily basis. Additionally, phishing and spoofing were the most common types of cybercrime, impacting *** thousand individuals in 2023. These attacks led to financial losses, with U.S. victims reporting nearly ** billion U.S. dollars in damages throughout the year. U.S. users and data privacy Despite only ** percent of internet users in the United States being highly knowledgeable about data privacy and cybersecurity, a significant portion of users demonstrated caution and awareness in protecting their information. In fact, over half of surveyed U.S. users reported being somewhat confident in knowing the right steps to take in the event of a cyberattack. Furthermore, ** percent of U.S. users actively decline cookies on websites, reflecting their increasing concern for data protection. Many respondents also take additional steps to safeguard their digital privacy, such as limiting or avoiding clicking on ads as well as not answering phone calls due to cybersecurity risks.

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.

As of 2024, the average cost of a data breach in the financial industry worldwide was 6.08 million U.S. dollars, up from 5.90 U.S. dollars in 2024. The global average cost of a data breach across all studied industries was 4.88 million U.S. dollars.

According to a 2023 survey among board members of worldwide organizations, approximately 95 percent of companies in Canada were at risk of a material cyberattack. The majority of board members in Singapore, 89 percent, thought their companies were at such risk within the following 12 months. Japanese companies ranked third, with 84 percent of board members seeing a risk of a material cyber attack in the next year.

There are various factors that can mitigate or amplify the cost of a data breach. According to 2020 industry data, the formation of an incidence response team could reduce the average total cost of a data breach by almost ******* U.S. dollars. The same went for incident response testing, which was also a strongly mitigating factor when calculating data breach damages. In 2019, the average total cost of a data breach amounted to **** million U.S. dollars.

The estimated cost of cybercrime in the cybersecurity market in Indonesia was modeled to amount to 5.51 billion U.S. dollars in 2024. Following a continuous upward trend, the estimated cost of cybercrime has risen by 2.85 billion U.S. dollars since 2016. Between 2024 and 2030, the estimated cost of cybercrime will rise by 1.99 billion U.S. dollars, continuing its consistent upward trajectory.Further information about the methodology, more market segments, and metrics can be found on the dedicated Market Insights page on Cybersecurity.

In 2024, the average cost of an industrial data breach reached its peak with an average of 5.56 million U.S. dollars, up from 4.73 million U.S. dollars in 2023. In comparison, the global average cost of a data breach across all studied industries was 4.88 million U.S. dollars.

According to a 2024 survey of Chief Information Security Officers (CISO) worldwide, nearly eight in ten respondents in South Korea said their organization had encountered a loss of sensitive information in the past 12 months. Canada ranked second, as 61 percent of the CISOs stated the same. Overall, around 46 percent of organizations across the researched markets said they had dealt with material loss of sensitive information in the previous year.

In 2023, it took three days on average for the occurrence to the discovery of cyber incidents in the companies in the United States. In most cases, companies reacted quickly, by taking the cyber attack under control. Further on, it took the organizations 33 days on average to complete the forensic investigation of the attacks. The longest the companies needed, was the time to notify about the cyber incident, which took 60 days on average.

As of 2025, nearly 63 percent of businesses worldwide were affected by ransomware attacks. This figure represents a decrease on the previous year and was by far the lowest figure reported since 2020. 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 2024, the critical manufacturing industry in the United States was once again most targeted by ransomware attacks. Overall, organizations in this industry experienced 258 cyberattacks in the measured year. Healthcare and the public health sector ranked second, followed by government facilities, with 238 and 220 cyberattacks, respectively. 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 2024, exploited vulnerabilities were the leading cause of ransomware attacks in the manufacturing industry.

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.

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.

Between 2008 and 2024, the most significant data breach in the financial industry worldwide was detected in 2019 in the United States at the First American Financial Corporation. This data breach caused the leakage of 885 million financial and personal records. The financial industry is one of the most targeted sectors by cyberattacks that lead to data breaches. However, cyber-attacks are not the only reason for a data breach. Sometimes data compromise occurs due to other reasons, such as system errors.

In 2023, there were 3,348 reported cyber incidents in the financial industry worldwide, up from 1,829 in the preceding year. Coherently, the number of data breaches increased within the last two examined years, going from 690 in 2021 to 1,115 in 2023. Overall, 2023 saw the most significant number of cyber incidents since 2013.

In 2023, the average budget allocated to cyber security amounted to 26.8 million U.S. dollars in the United Kingdom and to 27.3 million U.S. dollars in the United States. The average cyber security budget has gradually increased in both countries in recent years.

Between October 2021 and September 2022, malware was the most common type of cyber attack in financial and insurance organizations. The attack vector targeted around 40 percent of organizations worldwide. Network and application anomalies ranked second, with 23 percent of organizations experiencing such cyber attacks, while system anomalies followed, with 20 percent.

Between November 2022 and October 2023, financial institutions worldwide saw 1,115 incidents of confirmed data disclosure. This represents an increase of over 133 percent from the previous year. Approximately, 1800 cyber attacks were reported in the financial and insurance sector in the later measured period

In 2023, around 96.75 million e-mail accounts breached originated from the United States, making it the country with the most significant number of user account exposures in the examined year. Russia ranked second, with over 78 million accounts breached, while the France followed, with approximately 10.5 million breached accounts.