Posted On: Mar-2023 | Categories : Information and Communication Technology
The demand for data protection from cybercriminals is fulfilled through the constantly changing cyber security market. It provides various solutions to help businesses protect themselves from online threats like Malware, viruses, hacking, data leaks, and other types of online crime.
The market for cyber security in 2021 was worth USD 216.10 billion, and by 2030 it will reach USD 478.68 billion, at a 9.5% CAGR during the forecast period.
Organizations are choosing a wide range of services provided by cybersecurity vendors. They include network security technologies, endpoint security options, identity access management (IAM) systems, cloud security services, and software tools for threat & incident response. Also, many businesses are spending money on artificial intelligence (AI)-based solutions that can automate tasks like looking for intrusions into networks or spotting suspicious activity on network-connected devices.
The increasing digitization of several sectors, including finance, healthcare, and manufacturing, has given hackers a new opportunity to target weak points of any organization. As a result, companies are making investments in cybersecurity solutions to safeguard themselves against these threats.
Cybercrime can have an impact on a corporation for several years. The costs involved with cyber assaults, like litigation, insurance rate rises, criminal investigations & bad press can put a company out of the market very quickly.
The estimated cost of data breaches every hour has grown globally. The hourly loss rate reached $787,671 in 2021.
The amount spent to safeguard businesses from data breaches has increased significantly due to improvement in the security structures of the organizations. Businesses have spent $4.35 million on an average in 2022 to protect themselves from data breaches, up from $4.24 million in 2021.
Cyberattacks are diverse, and new forms of Malware are revealed every day. Phishing, Malware, ransomware, social engineering, and distributed denial of service attacks are some of the most common attacks.
The fastest-growing cybercrime is ransomware, which is a top choice for hackers. By the end of 2021, losses were 57 times greater.
Types of Security
In 2021, the market for cloud security was USD 29.24 billion, and by 2029 it will reach USD 106.05 billion at a 18.1% CAGR.
Cybersecurity Statistics By Industry Verticals
Frequently Asked Questions -
1. How often do cyber attacks occur?
- On average, almost 1-2 hacks occur every 39 seconds.
2. How many cyber attacks were there in 2022?
- In the first half of 2022, a total of 236.1 million ransomware attacks were reported worldwide.
3. How big is the cybersecurity issue?
- Cyberattacks climbed by 125% globally in 2021, and in 2022, rising cyberattack rates continued to endanger enterprises and individuals. Several sectors, including education, research, and healthcare, were more severely impacted than any other sector.
4. What percentage of cyber-attacks are related to phishing?
-Phishing scams are responsible for around 22% of all data breaches, making it one of the most common cybercrimes. Also, phishing affected almost 83% of businesses in 2021.
5. What percent of hackers get caught?
- About 4% to 5% of hackers are caught by law enforcement each year, despite strict cyber regulations.
6. How many cyber attacks happen every day?
- Approximately 30,000 cyberattacks occur every day.
7. How often does a cyber attack occur in the US?
- In 2021, one in two American people using the internet had their account hacked. In the first half of 2022, cybercrime affected 53.35 million US individuals.
8. How many cyber attacks happen per minute?
- Nearly 2,645 cyberattack happens every minute globally.
9. What industry encounters the most cybersecurity attacks per week?
- The finance sector (226 attacks) was mostly targeted globally by web application attacks. Followed by healthcare (173 attacks) and the professional sector (164 attacks).
10. How many Americans get hacked each year?
- Every year, 111.7 million American are victims of cyberattacks.
11. Number of cyber attacks per year in the United States?
- Since 2015, the US has seen an average of 199.17 million cyberattacks annually.
12. Increment in Cyber Attacks (Percentage)
-In comparison to 2021, there was a 38% rise in worldwide cyberattacks in 2022.
13. What percent of business leaders feel their cybersecurity risks are increasing?
- Approximately 68% of business leaders feel that the cybersecurity dangers are increasing.
14. Are 43% of cyber-attacks aimed at small businesses?
- Nearly 43% of cyber-attacks are aimed at small businesses because they usually lack cybersecurity measures.
15. Do 60 percent of small businesses which are victims of cyber-attack go out of business within a span of six months?
-Yes, 60 percent of small businesses that are victims of cyber-attack go out of business within six months due to bankruptcy.
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