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.

An October 2021 survey of Canadian tech and security executives found that more than 50 percent of organizations had audited or verified third parties or suppliers' security posture and compliance. A further share of 43 percent of the organizations refined our criteria for onboarding and ongoing assessments of third parties. Among surveyed organizations, 27 percent terminated the partnership with certain third parties as an attempt to establish a more profound third-party risk management.

In the first half of 2022, more than 46 percent of Spanish internet users improved their password usage after facing a cyber security incident. This has been the most popular cyber security measure adopted by individuals in the country over time, followed by updating pre-installed security and privacy configurations or tools. As of the most recently analyzed period, about 42.7 percent of respondents claimed to stop using external or third-party devices, computers or networks, thus becoming the second most taken measure after encountering a cyber security issue.

The Software Supply Chain Security market has become increasingly critical as organizations worldwide recognize the importance of protecting their software development processes from various cyber threats. With the rise of sophisticated cyberattacks targeting software dependencies and third-party components, busines

In 2024, for around 73 percent of CISOs in the United States, security breaches involving a third party were the top cyber threat in the coming fiscal year. In comparison, in 2022, the key cybersecurity risk was malware or ransomware, with 75 percent of CISOs highlighting it.

As of October 2023, the human element was involved in 68 percent of data breaches worldwide. Ransomware or extortion accounted for 32 percent, while errors contributed to 28 percent of incidents. Third-party factors, including software vulnerabilities, were involved in 15 percent of breaches.

The Vendor Security and Privacy Assessment Tool market is a crucial segment of the broader cybersecurity landscape, designed to help organizations evaluate and manage the security and privacy risks posed by their third-party vendors. As businesses increasingly rely on external partners for various services, the dema

Mobile devices connected to the internet are vulnerable to targeted attacks and security threats. In December 2023, the number of global mobile cyberattacks was approximately 5.4 million, up by 147 percent compared to December 2022. Cyberattacks targeting mobile devices have been decreasing since the end of 2020, after experiencing an annual peak of almost 6.4 million in October 2020. Mobile concerns: Smishing While mobile operating systems come with vulnerabilities requiring patching and regular maintenance, watchful usage can reduce the risk for users of incurring security threats. Smishing attacks are especially reliant on users’ accidental mistakes or naivety. Smishing, or SMS phishing, uses text messages to lure users into accessing fake websites requesting personal data, or into clicking on malicious download links that could infect the device with malware. In the first quarter of 2024, AdWare and RiskTool were the most encountered types of mobile malware worldwide, while Trojan malware accounted for 11 percent of the total. Smishing attacks do not interest regular users alone, but can also target organizations and professionals. In 2023, it was found that the share of IT professionals and organizations targeted by smishing attacks was at 75 percent. Mobile app privacy According to a survey of global consumers carried out in August 2021, both Android and iOS users appeared equally keen to stop using an app if their privacy expectations were not met. Mobile apps have to collect different types of data for functionality purposes, including app diagnostic and device data for location-based services. However, mobile apps also collect other types of more personal user data, such as search history, browsing history, health data, and financial information. The data can be then used by the company that collected them in the first place (1st party data), or with entities that do not have a direct relationship with the users, and obtain data from the main tracking source (3rd party data). Social media apps, like other app categories, rely on acquiring 3rd party data from users for their advertisement business. As of February 2022, TikTok was found to have the highest number of potential 3rd party trackers, followed by Telegram, and Twitter.

Between January 2020 and April 2024, the United States Federal Trade Commission (FTC) took legal enforcement actions against 12 companies providing online and mobile services for violations of data privacy and security laws. The most recent case involved AT&T Mobility, which, in April 2024, agreed to pay 927,536 U.S. dollars in penalties for engaging in “mobile cramming.” This practice involved charging consumers for third-party services on their mobile telephone bills without their authorization.

In 2023, supply chain cyber attacks in the United States impacted 2769 entities. This is the highest reported number since 2017. In the last measured year, the number of affected entities has increased by approximately 58 percent year-over-year. The impacted entities have access to multiple organizations' data, which represents a significant risk for organizations.

When cybersecurity professionals were asked how their organizations source their cloud security, the majority stated that they prefer cloud native security with 74 percent as of 2021. Other methods include third-party cloud security and managed services cloud security.

According to a survey conducted in May 2023, almost 34 percent of small and medium-sized enterprises (SME) in Japan that were using cloud services had used a third-party configuration check service for the configuration of their cloud service. Almost nine percent of companies stated that they used a tool to check their configuration.

The statistic shows the level of IT security process outsourcing worldwide from 2014 to 2017, by service type. As of 2017, 47 percent of respondents indicated that their organization outsourced the IT security auditing process to a third party.

In 2023, about 80 percent of Polish respondents were concerned about company selling their personal data to a third party.

As of 2022, 16 percent of respondents stated that their company was already realizing the benefits from investing in cloud security, security awareness training, and endpoint security. However, more than 50 percent of respondents were planning on implement third-party risk management processes and zero trust strategies in the future.

In 2022, the main impact experienced by companies worldwide as a result of the war in Ukraine was increased focus on business continuity and resiliency. At the same time, 22 percent of respondents faced an increase in cyber security attacks either on their company or on third party partners and suppliers.

From 2021 to 2023, the share of cyber incidents detected by an organization's own resources decreased from 82 percent to 78 percent. In contrast, the share of cyber incidents identified by external or third-party organizations increased to 16 percent of incident discoveries in 2023. Overall, the majority of cyber incidents were still discovered internally.

In 2021, 75 percent of respondents indicated using native cloud security controls. Other controls used to secure applications residing in the cloud included services provided by a managed service provider (MSP) and third-party security controls.

In 2018, cyber insurance premiums worldwide amounted to 5.2 billion U.S. dollars, and are expected to increase to 7.5 billion U.S. dollars in 2020.

Cyber insurance

Cyber insurance protects individuals and businesses from online breaches from hackers. Cyber security is one of the biggest risks for businesses. As technology has developed over the years, there has been an increase in cyber security related incidents. Technology and social media play vital roles in how businesses conduct their work and attract customers. However, cyberattacks can affect both sides of the transaction. Cyber insurance is intended to cover expenses that first parties file for as well as third party claims. Additionally, it also covers the legal costs when a cyberattack happens so an investigation can take place. Furthermore, it covers the lost income that businesses suffer when a business cannot continue to run their business for a period of time.

Cyber insurance market

In 2016, the United States was the region where the most cyber insurance premiums were written. The largest insurance company in the United States in 2017 was Chubb Ltd., based on the value of direct cyber security premiums written. It is expected that the market size of cyber insurance premiums written worldwide will quintuple from 2018 to 2025.

In 2023, 43 percent of respondents mentioned identity and access governance as their main security concern while adopting software as a service (SaaS), followed by third party application access and their level of permissions, highlighted by 40 percent of respondents. By contrast, only nine percent of respondents were worried about SaaS security personnel.