October 15, 2023

Cybersecurity Stats: Eye-Opening Facts You Need to Know

Cybersecurity Stats: Eye-Opening Facts You Need to Know

Revealing The Latest Cyber Security Trends and Cyber Attack Statistics

Cyberattacks are on the rise and many individuals and businesses remain vulnerable due to lack of awareness. By staying informed about the latest cybersecurity trends and understanding how many people get hacked a year, you can make smart decisions to protect yourself and your assets. Let’s explore some eye-opening statistics provided by Cybersecurity Venture’s findings and stats-based predictions.  

1. Global Cybercrime Threat: $10.5 Trillion Annually by 2025

Imagine a world where cybercrime wields more power than entire countries. By 2023, cybercrime is set to inflict an astonishing $8 trillion in damages worldwide – a figure that would place it as the third-largest economy globally, only trailing behind the United States and China. 

Experts from Cybersecurity Ventures warn that this trend is spiraling out of control. Anticipating a staggering 15% annual growth over the next three years, they predict cybercrime costs to skyrocket to $10.5 trillion per year by 2025, up from just $3 trillion in 2015. This unprecedented shift of wealth not only poses a dire risk to innovation and investments but also surpasses the havoc of natural disasters in terms of economic impact. Astonishingly, it’s poised to outperform the combined profitability of the entire illegal drug trade. 

This economic upheaval stems from a range of factors, including data loss, major financial losses, disrupted productivity, and reputational harm. As the world races to tackle this menace, the urgency has never been more palpable. 

2. Safeguarding the Digital Frontier: A $1.75 Trillion Journey

The digital landscape is expanding at an unprecedented pace, with businesses, devices, and consumers becoming increasingly intertwined. This shift has cast cybersecurity into the spotlight. Between 2021 and 2025, the world is projected to invest over $1.75 trillion in cybersecurity solutions and services, a resounding response to the growing threat of cybercrime. 

Two decades ago, the cybersecurity market was a mere $3.5 billion. Today, it’s a thriving juggernaut within the information economy, growing at a remarkable 15% each year. As the world adopts digital transformations, this investment is not only prudent but essential for the protection of data, assets, and the continuity of businesses. 

3. A Global Call to Arms: Bridging the 3.5 Million Gap

In an interconnected world, every individual involved in technology is now a defender against cyber threats. This means that every IT expert, every technology specialist has a critical role in shielding applications, data, devices, and infrastructure from malicious attacks. An alarming statistic looms: By 2023, there will be a staggering 3.5 million vacant cybersecurity positions worldwide – a number so massive it could fill 50 NFL stadiums. This projection, a stark contrast to Cisco’s 2014 estimation of 1 million job openings, underscores the urgency to bridge this gap. 

In a unique twist, the cybersecurity unemployment rate for experienced professionals stands at an astonishing zero percent, a remarkable record held since 2011. But with the surge of cybercrime, unfilled positions are expected to surge in tandem, leaving a critical gap in our defense. 

4. The Ransomware Crisis: A Looming $265 Billion Storm

A storm is brewing in the digital realm, as ransomware takes center stage in the realm of cyber threats. From a humble $325 million in 2015, the cost of ransomware damage reached an alarming $20 billion annually in 2021, marking a staggering 57-fold increase. If current trends persist, the forecast for eight years hence is chilling – a jaw-dropping $265 billion in costs. 

Imagine this: every 11 seconds in 2021, a business fell victim to a ransomware attack. This epidemic, growing at an alarming rate from every 14 seconds in 2019, is now the fastest-growing form of cybercrime. By 2031, the world could witness a ransomware attack every two seconds, a chilling reminder of the escalating threat. 

5. Insuring the Digital Frontier: A $14.8 Billion Shield 

In the face of mounting cyber threats, companies are embracing cyber insurance with fervor, a testament to the growing financial perils of the digital age. The trajectory is clear: a market once worth $8.5 billion in 2021 is poised to scale new heights, reaching $14.8 billion by 2025. Projections point to a staggering $34 billion by 2031, riding a compound annual growth rate of 15% over an 11-year span. 

This trend is a response to the urgent need to mitigate financial risk, as cyberattacks loom larger than ever. With this proactive measure, organizations strive to safeguard their digital assets and financial stability, ready to face the storm of digital threats head-on.

6. Unveiling the Digital Horizon: 90% Online by 2030 

The world is undergoing a monumental shift, as 90% of the global population aged 6 years and older hurtles toward online connectivity by 2030. A million new digital citizens join every day, with 2022 boasting 6 billion internet users compared to 5 billion in 2020. 

Don’t live in the yesteryear of uncommon cyber risks. Call Tech Eagles today so that we can keep your business protected from the ever-growing threat of cybercrime. Our knowledgeable team of experts cares about your success. When you partner with us, you can rest easy knowing that your company is cyber-secure. Protect your business from cyberattacks today.