In 2022, around four in ten internet users worldwide have ever experienced cybercrime. Based on a survey conducted between November and December 2022, internet users in India were most likely to have fallen victim to cybercrime, as nearly 70 percent of respondents claimed to have ever experienced cybercrime. The United States ranked second, with almost half of the respondents, 49 percent, saying they had experienced internet crime.

India Cyber Crime: IPC Section: Number of Cases Registered data was reported at 33,798.000 Unit in 2022. This records an increase from the previous number of 25,384.000 Unit for 2021. India Cyber Crime: IPC Section: Number of Cases Registered data is updated yearly, averaging 738.000 Unit from Dec 2002 (Median) to 2022, with 21 observations. The data reached an all-time high of 33,798.000 Unit in 2022 and a record low of 176.000 Unit in 2008. India Cyber Crime: IPC Section: Number of Cases Registered data remains active status in CEIC and is reported by National Crime Records Bureau. The data is categorized under India Premium Database’s Crime – Table IN.CRA001: Crime Statistics.

In 2023, nearly nine million cases of phishing scams were registered worldwide, making it the most frequently reported type of cybercrime. Personal data breach ranked second, with 1.66 million incidents, followed by 1.5 million non-payment/non-delivery cases.

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.

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

India Cyber Crime: IT Act, 2000: Number of Cases Registered data was reported at 31,908.000 Unit in 2022. This records an increase from the previous number of 27,427.000 Unit for 2021. India Cyber Crime: IT Act, 2000: Number of Cases Registered data is updated yearly, averaging 2,876.000 Unit from Dec 2002 (Median) to 2022, with 21 observations. The data reached an all-time high of 31,908.000 Unit in 2022 and a record low of 60.000 Unit in 2003. India Cyber Crime: IT Act, 2000: Number of Cases Registered data remains active status in CEIC and is reported by National Crime Records Bureau. The data is categorized under India Premium Database’s Crime – Table IN.CRA001: Crime Statistics.

India Cyber Crime: IPC Section: Number of Persons Arrested data was reported at 33,798.000 Person in 2022. This records an increase from the previous number of 25,384.000 Person for 2021. India Cyber Crime: IPC Section: Number of Persons Arrested data is updated yearly, averaging 1,148.000 Person from Dec 2002 (Median) to 2022, with 21 observations. The data reached an all-time high of 33,798.000 Person in 2022 and a record low of 195.000 Person in 2008. India Cyber Crime: IPC Section: Number of Persons Arrested data remains active status in CEIC and is reported by National Crime Records Bureau. The data is categorized under India Premium Database’s Crime – Table IN.CRA001: Crime Statistics.

India Cyber Crime: IT Act, 2000: Number of Persons Arrested data was reported at 31,908.000 Person in 2022. This records an increase from the previous number of 27,427.000 Person for 2021. India Cyber Crime: IT Act, 2000: Number of Persons Arrested data is updated yearly, averaging 1,522.000 Person from Dec 2002 (Median) to 2022, with 21 observations. The data reached an all-time high of 31,908.000 Person in 2022 and a record low of 55.000 Person in 2003. India Cyber Crime: IT Act, 2000: Number of Persons Arrested data remains active status in CEIC and is reported by National Crime Records Bureau. The data is categorized under India Premium Database’s Crime – Table IN.CRA001: Crime Statistics.

Between November 2022 and October 2023, over 30 thousand cybercrime incidents were detected worldwide. Of this total, over 900 cases involved small companies. The organizations in the public administration sector were the most affected among the industries researched, with reported 12,217 cybercrime cases. The finance sector ranked second, while the professional sector followed, with over 2,500 incidents in each industry.

Between 2010 and 2023, the worldwide automotive industry saw many cyber-related challenges. The industry's most common outcome of cyber crime was service and business disruption, such as delays or halts in production, caused by a cyber attack, which occurred 42 percent of the time of a cyber incident. Data and privacy breach was the second-most common impact of cyber attacks, with 22 percent of the total effects. Fraud and Vehicle theft were other typical outcomes of cybercrime in the automotive industry.

The development of information technology has encouraged the development of rapid Demian use of the Internet to conduct transactions in the world. Today virtually all parties have used the Internet both for individuals, businesses and government agencies. However, the global Internet USAge has led certain parties to commit crimes in cyberspace or cybercrime. Because of human activities in the cyber world is limitless activities that have an International dimension, the transnational nature of crimes committed so that when viewed from the global rate of loss has exceeded the crimes committed due to drug sales. To deal with this problem it is necessary that takes into account protection through regulatory harmonization Globally and will be able implementad in natiomal regulations. This research purpose are to analyze several legal issues such as how International Law Play an Important Role in Regulationd and urge International Cooperation to combat Cybercrime. This research used a normative juridical approach which focuses on secondary data, then used all the legal and juridical methods of historical comparison is obtained from the research literature is supported by primary data from field research. The specifications of research used is descriptive analytical and subsequent data collected were analyzed qualitatively. Based on the research and data analysis can be concluded that International Law has play an important role in regulating Cyberlaw and has promote International cooperation in combating Cybercrime and at the same time will encourage the harmonization of Cyberlaw Regulations.

As of September 2024, almost 30 percent of cyber incidents detected in the past 12 months were hacking incidents. A further 28.7 percent were incidents of misuse, and 15.2 percent of detections revealed malware attacks.

Cybercrime and Security Market Outlook

The global cybercrime and security market size was valued at USD 152.71 billion in 2023 and is projected to reach USD 352.69 billion by 2032, growing at a compound annual growth rate (CAGR) of 9.5% during the forecast period. This impressive growth can be attributed to the increasing frequency and sophistication of cyber-attacks, compelling organizations to invest heavily in robust security measures.

The demand for advanced cybersecurity solutions is being driven by the exponential rise in cyber threats, such as ransomware, phishing, and denial-of-service (DoS) attacks. These threats pose significant risks to both enterprises and individuals, leading to substantial financial losses, operational disruptions, and reputational damage. Consequently, businesses across various sectors are prioritizing their cybersecurity strategies and allocating higher budgets to safeguard their digital assets.

Furthermore, the adoption of emerging technologies like the Internet of Things (IoT), artificial intelligence (AI), and cloud computing has expanded the attack surface for cybercriminals. While these technologies offer numerous benefits and efficiencies, they also introduce new vulnerabilities that need to be addressed. As a result, there is a growing need for sophisticated cybersecurity solutions that can preemptively detect and mitigate potential threats in real-time.

The regulatory landscape is also playing a pivotal role in shaping the cybersecurity market. Governments and regulatory bodies worldwide are implementing stringent data protection laws and compliance requirements, such as the General Data Protection Regulation (GDPR) in Europe and the California Consumer Privacy Act (CCPA) in the United States. Organizations must adhere to these regulations to avoid hefty penalties and maintain customer trust, thereby driving the demand for comprehensive cybersecurity solutions and services.

Cognitive Security is emerging as a crucial aspect of the cybersecurity landscape, leveraging artificial intelligence and machine learning to enhance threat detection and response capabilities. By simulating human thought processes in a computerized model, cognitive security systems can analyze large volumes of data to identify potential threats and anomalies. This approach allows for more proactive and adaptive security measures, enabling organizations to stay ahead of increasingly sophisticated cyber threats. As cybercriminals continue to evolve their tactics, cognitive security provides a dynamic defense mechanism that can learn and adapt over time, offering a significant advantage in protecting digital assets.

Regionally, North America dominates the cybercrime and security market due to the presence of leading cybersecurity vendors, a high adoption rate of advanced technologies, and significant investments in cybersecurity by both public and private sectors. Asia Pacific, however, is expected to witness the highest growth rate, driven by the rapid digital transformation in countries like China and India, increasing internet penetration, and a surge in cyber-attacks targeting these regions.

Component Analysis

The cybercrime and security market can be broadly segmented by components into solutions and services. Solutions encompass a range of software and hardware products designed to protect against and mitigate cyber threats. This includes antivirus software, firewalls, intrusion detection systems (IDS), and encryption tools. The solutions segment is expected to hold a significant share of the market due to the increasing need for advanced security tools that can offer comprehensive protection against a wide array of cyber threats.

Within the solutions segment, endpoint security and network security solutions are particularly crucial. Endpoint security focuses on securing individual devices, such as laptops, smartphones, and tablets, which are often the primary targets of cyber-attacks. Network security, on the other hand, aims to protect the integrity, confidentiality, and availability of data as it travels across or within networks. The growing trend of remote work and the proliferation of BYOD (Bring Your Own Device) policies have further underscored the importance of robust endpoint and network security solutions.

The services segment includes managed security services, consulting, and professional services. Managed security services enable organiza

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Cyber Insurance Market Size 2025-2029

The cyber insurance market size is forecast to increase by USD 13.29 billion at a CAGR of 23.2% between 2024 and 2029.

The market is experiencing significant growth driven by the increasing adoption of technology and the resulting heightened risk of cyber attacks. According to recent estimates, the global cybercrime damages are projected to reach USD6 trillion annually by 2021, underscoring the urgent need for cybersecurity measures and insurance coverage. This trend is particularly prominent in regions with advanced digital economies, such as North America and Europe. However, the market's growth trajectory is not without challenges. One of the most pressing issues is the lack of standardization in cyber insurance policies, which can make it difficult for businesses to compare offerings and choose the most appropriate coverage. Additionally, the rapidly evolving threat landscape and the increasing sophistication of cybercriminals necessitate continuous innovation and adaptation from insurers to stay competitive. Companies seeking to capitalize on market opportunities and navigate these challenges effectively should prioritize building strong partnerships with technology providers, investing in advanced threat intelligence and analytics, and offering flexible and customizable policies that cater to the unique needs of their clients. By staying agile and responsive to market demands, cyber insurance providers can differentiate themselves and seize the significant growth potential in this dynamic market.

What will be the Size of the Cyber Insurance Market during the forecast period?

Request Free SampleThe market continues to experience significant growth as businesses increasingly recognize the need to mitigate risks associated with cyber threats. According to recent industry reports, The market is projected to reach substantial size by 2026, driven by the increasing adoption of cloud computing, Internet of Things (IoT), and remote working. Cyber criminals continue to target organizations through various means, including data breaches, internet-based attacks, and IoT malware. Consequently, there is a growing demand for cyber insurance policies that provide coverage against financial losses resulting from these threats. Large enterprises are leading the charge in purchasing cyber insurance, recognizing the potential financial and reputational damage that can result from a cyber attack. IT infrastructure and information policies are critical components of cybersecurity, and cyber insurance can help organizations manage risks in these areas. Virtual private networks (VPNs) and other security measures are also important considerations for businesses seeking to protect their digital assets. Cybersecurity ventures and technology companies, such as SonicWall Cyber Threat Intelligence and SonicWall Capture Labs, play a crucial role in identifying and mitigating cyber threats. Information governance and cybersecurity best practices are essential for businesses to effectively manage their cyber risk and reduce the likelihood of a breach. Overall, the market is expected to remain a dynamic and evolving sector as businesses continue to grapple with the complexities of cybersecurity in an increasingly interconnected world.

How is this Cyber Insurance Industry segmented?

The cyber insurance industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments. TypeLarge enterprisesSmall and medium-sized enterprisesSolutionStandalonePackagedGeographyNorth AmericaUSCanadaEuropeFranceGermanyItalyUKAPACChinaIndiaJapanSouth AmericaBrazilMiddle East and Africa

By Type Insights

The large enterprises segment is estimated to witness significant growth during the forecast period.Large enterprises are increasingly vulnerable to cyber threats due to their size, complex IT infrastructure, and valuable data. Cyber insurance has emerged as a crucial risk management tool for these organizations, providing financial protection against data breaches, ransomware attacks, phishing scams, and other cyber incidents. According to Munich Re experts, The market is expected to reach USD20.4 billion by 2027, driven by the growing number of cyber threats and the increasing awareness of the need for risk mitigation. Cyber criminals continue to target large enterprises, exploiting vulnerabilities in cloud computing, Internet of Things (IoT), and Operational Technology (OT) systems. In 2023, SonicWall Cyber Threat Report identified over 10 million IoT malware attacks and 1.5 billion phishing attacks. Cyber ILS, a cyber catastrophe bond, and crypto insurance services have gained popularity as additional layers of protection against cyber risks. Large enterprises are investing in AI-

"The Intelligence Technology and Big Eye Secrets: Navigating the Complex World of Cybersecurity and Espionage" is a comprehensive exploration of the intricate landscape of global intelligence and cyber security. It begins by dissecting the inner workings of intelligence and cyber security agencies, shedding light on their pivotal role in safeguarding national interests while balancing privacy concerns. The subsequent chapters delve into intelligence gathering tools, surveillance technologies, cybercrimes, and the dark side of cyberspace, unveiling the evolving threats and strategies employed by malicious actors. Furthermore, the book uncovers the influential cyber contractors shaping this domain and concludes with a discourse on cyber warfare, including defensive measures against digital threats. Whether you're a cybersecurity expert, government official, or simply a concerned individual, this book serves as an indispensable guide to understanding and navigating the complexities of cybersecurity and espionage.

Description

The datasets demonstrate the malware economy and the value chain published in our paper, Malware Finances and Operations: a Data-Driven Study of the Value Chain for Infections and Compromised Access, at the 12th International Workshop on Cyber Crime (IWCC 2023), part of the ARES Conference, published by the International Conference Proceedings Series of the ACM ICPS.

Using the well-documented scripts, it is straightforward to reproduce our findings. It takes an estimated 1 hour of human time and 3 hours of computing time to duplicate our key findings from MalwareInfectionSet; around one hour with VictimAccessSet; and minutes to replicate the price calculations using AccountAccessSet. See the included README.md files and Python scripts.

We choose to represent each victim by a single JavaScript Object Notation (JSON) data file. Data sources provide sets of victim JSON data files from which we've extracted the essential information and omitted Personally Identifiable Information (PII). We collected, curated, and modelled three datasets, which we publish under the Creative Commons Attribution 4.0 International License.

1. MalwareInfectionSet We discover (and, to the best of our knowledge, document scientifically for the first time) that malware networks appear to dump their data collections online. We collected these infostealer malware logs available for free. We utilise 245 malware log dumps from 2019 and 2020 originating from 14 malware networks. The dataset contains 1.8 million victim files, with a dataset size of 15 GB.

2. VictimAccessSet We demonstrate how Infostealer malware networks sell access to infected victims. Genesis Market focuses on user-friendliness and continuous supply of compromised data. Marketplace listings include everything necessary to gain access to the victim's online accounts, including passwords and usernames, but also detailed collection of information which provides a clone of the victim's browser session. Indeed, Genesis Market simplifies the import of compromised victim authentication data into a web browser session. We measure the prices on Genesis Market and how compromised device prices are determined. We crawled the website between April 2019 and May 2022, collecting the web pages offering the resources for sale. The dataset contains 0.5 million victim files, with a dataset size of 3.5 GB.

3. AccountAccessSet The Database marketplace operates inside the anonymous Tor network. Vendors offer their goods for sale, and customers can purchase them with Bitcoins. The marketplace sells online accounts, such as PayPal and Spotify, as well as private datasets, such as driver's licence photographs and tax forms. We then collect data from Database Market, where vendors sell online credentials, and investigate similarly. To build our dataset, we crawled the website between November 2021 and June 2022, collecting the web pages offering the credentials for sale. The dataset contains 33,896 victim files, with a dataset size of 400 MB.

Credits Authors

Billy Bob Brumley (Tampere University, Tampere, Finland)

Juha Nurmi (Tampere University, Tampere, Finland)

Mikko Niemelä (Cyber Intelligence House, Singapore)

Funding

This project has received funding from the European Research Council (ERC) under the European Union’s Horizon 2020 research and innovation programme under project numbers 804476 (SCARE) and 952622 (SPIRS).

Alternative links to download: AccountAccessSet, MalwareInfectionSet, and VictimAccessSet.

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.

More than 2.8 thousand of the cybercrime cases cleared in Japan in 2023 were fraud cases. Fraud was the most common type of cleared cybercrime during that year, followed by violations of the law against child pornography.

Cybercrimes in Japan

The number of cleared cybercrime cases gradually increased throughout the latter half of the 2010s, which partly reflects an increasing attention on the issue within Japan. Preventing cybercrime damages and investigating offenders have become crucial tasks for the police in an environment in which citizens and the economy rely on the internet to an unprecedented degree. The number of online banking frauds surged in 2023, and the amount of money lost through online banking fraud increased accordingly during that year. Other crimes involving financial damages include a variety of offenses, such as violations of the copyright law and ransomware attacks.

Cybercrimes and the Japanese police

In April 2022, a new bureau featuring a special investigative team dedicated to cybercrimes was established at the National Police Agency. One of the tasks of the Cyber Affairs Bureau, which is supposed to centralize work that had previously been taken care of by different prefectural bureaus, is to analyze cyberattack methods. This also includes attacks originating in other countries, which previously were difficult to address. The National Cyber Unit is tasked with handling high-profile cases, such as attacks on local governments and critical infrastructure. News reports point out that the establishment of the Cyber Affairs Bureau led to improved information-gathering capabilities, which make it easier for Japan to participate in international joint investigations.

Number of cyber crimes of Arunachal Pradesh sank by 70.21% from 47 number in 2021 to 14 number in 2022. Since the 275.00% jump in 2020, number of cyber crimes plummeted by 53.33% in 2022.

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...