The cyberworld has been in a constant metamorphosis ever since its emergence, pushing forward the boundaries of our comprehension. When it comes to online businesses and other similar actors, cyber threats are an ever-increasing problem that have slowly seeped in every industry.
For this reason, the topic of cybersecurity deserves much more attention and credit that it’s been given so far. Thus, we have compiled a number of pertinent cybersecurity statistics related to the repercussions of cybercrime on various markets and online industries.
To start with, do you know which countries reported the highest number of geopolitical cyber attacks on an all-time spectrum? We have them right here:
- Bangladesh – 35.91% in terms of mobile malware infections
- Algeria – 32.14% in terms of computer infections
- Uzbekistan – 14.23% in terms of security threats related to cryptocurrency
- Germany – 3% in terms of cyberattacks related to financial industries
On the opposite side of the spectrum, Japan, Denmark, and Ukraine scored the lowest in the above-mentioned cyberthreat statistics.
These statistics relate to the total number of global attacks of each type. For instance, out of all the mobile-related malware infections in the world, 35.91% of them took place in Bangladesh.
Secondly, there’s been a clear improvement in cybersecurity awareness lately. The following industries have shown a keen interest in allocating more money on cybersecurity:
- State and local governments – a increase of 11.9% in terms of cybersecurity spending
- Telecommunications – this industry has seen a 11.9% spike in cybersecurity spending
- Resource industries – these guys put forth 11% more of their money in security improvements
- Banking – 10.4% increase, though you’d expect financial institutions to take first place in this ranking
- Federal and central governments – only a 9.9% increase
However, these are only informational tidbits that are less important compared to what’s coming. Read on to get a better perspective on the evolution of cybercrime, and how it affects the market.
Cybercrime Eagle-Eye view
The more technologically adept people become and the faster technology evolves, the more cybercriminals will roam about. In the 21st century world, felony and crime have taken on a whole other meaning. Criminals have gotten smarter, they’ve started using smarter tools, and they’ve started plying their trade on another medium – the cyberworld.
Various cybersecurity experts confirm that cybercrime has recently become the fastest evolving type of crime in the world. This is nothing if not foreseeable, given the rate at which new technologies and innovative uses for them emerge constantly.
The statistics below will paint a clear picture of the looming threat that cybercrime is becoming:
- In 2019, the cybercrime-related expenses have been calculated to be at around $2 trillion on a global scale
- By 2021, cybercrime-related expenses will reach approximately $6 trillion globally
- For future reference, cybercrime will incorporate approximately 70% of entire cryptocurrency stocks of the world
- Contrary to common sense, out of all worldwide cybercrime incidents, only about 10-12% of them get reported to the relevant authorities
- Cybercrime has officially been coined as a more profitable undertaking than drug trafficking
- The FBI have included in their Most Wanted List a number of 63 individuals known to have perpetrated severe cyberattacks
- The studies show that 9 in 10 Americans believe cybercrime is a national threat
- Fraud in digital ads resulted in losses worth $19 billions in 2018
- More than 87% of all US citizens are increasingly afraid of falling prey to cyberattacks, which goes counter to how the vast majority of cybercrime statistics are inaccurate
- Back in 2018, the most prevalent types of cyberattacks were: phishing, network intrusion, accidental data disclosure, stolen device records, and system misconfiguration. Moreover, the industries that suffered the most were governmental, healthcare, education, legal, transportation, manufacturing, retail, and media and entertainment
- Overall cyberattacks liabilities will be worth $6 trillion by 2021
- The most recent US elections were manipulated by Russian actors who used ad campaigns to favor one candidate
At a more in-depth analysis of how specific industries were targeted, we see a pattern emerging. By far, the healthcare industry became the biggest target of them all when it comes to cybercrime. In fact, Cybersecurity Ventures found out that healthcare institutions suffered double or even triple the number of attacks in 2019 when compared to other domains.
This might also be caused by the fact that the healthcare industry (the US one) ranked 15th out of 18 industries when it comes to overall security. That’s a pretty bad score any way you look at it.
The incentives aren’t anything to scoff at either – compared to personal information, any medical data is 50 times more valuable when sold by hackers on any black market.
As for the rest of the industries, malicious email tactics are extremely notorious, with 1 mail out of 302 sent to users being malicious. Moreover, in the UK, 48% of all manufacturers (this includes everything from clothes to cars and basketballs) have been the target of cyberattacks.
Looking at the greater picture, it has become a necessary requirement for companies and online actors to spend more on better cybersecurity standards.
Cybersecurity market statistics
The Achilles’s Heel of cybercrime lies with cybersecurity, a branch of common security that deals with online threats. With the rise in cybercrime complexity and severity, cybersecurity had to up the ante as well.
The following are global statistics gathered from all around the world:
- In 2023, the cybersecurity industry will have reached a market size approximately equal to $248.26 billion
- From 2004 to 2017, there was a massive increase in the cybersecurity market shares (from $3.5 billion to $120 billion)
- From 2017 to 2021, the total value of worldwide cybersecurity products will go beyond the $1 trillion estimated threshold
- The energy sector has become highly-targeted by hackers worldwide, and it doesn’t help that this sector allocates only 0.2% revenue for cybersecurity purposes
- Predictions show that: insurance policies for cybercrime events will increase to $20 billion by 2025; worldwide spending on cybersecurity solutions will grow to $133.8 billion in 2022 (from the current value of $103.1 billion in 2019)
- The cybercrime market is bolstered by $1.5 trillion each year
Next, we’ll talk about the country-specific statistics:
- The president of the US committed 4.1% more of America’s budget on cybersecurity ($15 billion for 2019)
- The most important US cities are either looking to acquire cyber insurances or they already have one
- Virginia is the foremost US leader in cybersecurity, with the most numerous cybersecurity companies in the country being established here
- The countries with the biggest investments in cybersecurity are the UK, Israel, Canada, and the US
- Cybersecurity awareness is outmatched by the constant surge in cybercrime (approximately 68% the businesses established in the US don’t have any form of data-breach coverage)
The data shows the exact trends of most companies when it comes to vigilance toward cybercrime. The conclusion is quite worrisome – many companies have inadequate cybersecurity budgets.
Next-up, we’re going to talk about specific events that, when put together, illustrate a statistical truth. Looking at the types of cyberattacks that took place in the past, their targets, and severity of the events, we can sum up a pertinent conclusion.
Based on the attack-type, we know of:
- Cypto-related crimes, which are equal to a loss of $1 billion for the major exchanges in 2018. For instance, the 2018 Coincheck heist led to a loss of $530 millions in NEM coins
- Zero-day attacks, which the studies say they’ll be a daily occurrence in a few years
- The EAC tactic (Email Account Compromise) led to substantial losses suffered by businesses when making wire transfers (approximately $12.5 billion)
- DDoS attacks, which can cripple a quarter of the overall internet traffic in any given country. What’s more, DDoS attacks will grow to 14.5 million by 2022.
- Accessible hacking kits sold for $1 on the web
Depending on specific targets, we can tell you about:
- The largest cryptocurrency scams of all time – Mt. Gox, Poloniex, BitFloor, Bitfinex, and BitStamp
- The biggest data breach took place at Yahoo in 2013 – more than 3 billion accounts were compromised
- More than 50% of all global companies are inadequately prepared to respond to cyberattacks
- Other expansive cyberwarfare targets have been: MySpace, Marriot (over 500 million accounts compromised on a period of 4 years), Under Armor, LinkedIn (more than 100 million accounts), eBay, Target, Equifax, Heartland Payment Systems, and Adult FriendFinder
- Approximately 30% of the wealthiest family businesses in the world have been the target of cybercrime. Moreover, about 40% of them have inappropriate cybersecurity countermeasures in effect
The conclusion is simple – no one is safe from cyberattacks, not even the giant corporations out there.
Cybersecurity employment statistics
With such a fervent problem to deal with, cybersecurity has become a bustling professional opportunity for many. The world needs innovative and revolutionary solutions to past and future cyberwarfare problems.
We’ll have a look at how the cybersecurity workforce plays out in the US and around the world:
- The most performant cybersecurity experts and coders earn up to $225,000 per year
- All over US, there are more than 715,000 cybersecurity posts available. 314,000 of these are currently opened for everyone
- CISO positions could earn you from $175,000 up to $275,000 per year. And that’s an average salary we’re talking about
- In Washington DC Beltway you can find the world’s largest cybersecurity hub
- As a professional hacker for hire, you could earn up to $500,000 per year or even more if you’re that good
- On a global scale, we have over 3 million cybersecurity jobs that remain unfilled.
- Companies will spend much more on raising cybersecurity awareness among employees by year 2027 (approximately $10 billion)
The unemployment rate in the cybersecurity domain is rather alarming, at least on a future note. Apparently, by 2021, more than 3.4 million jobs will remain vacant with no one to fill them.
However, it’s still good to see that the cybersecurity market will expand its quotas exponentially in the near future.
Ransomware, formjacking & cryptojacking statistics
Ransomware has seen the biggest increase in severity and potential losses for the end-user across time. In fact, compared to its severity now, by 2021, most cybersecurity experts estimate it will be 57 times more dangerous.
Here’s a rundown of how dangerous and overarching ransomware truly is:
- In 2015, worldwide damages totaled $325 million. Two years later, it skyrocketed to $5 billion, only to reach $11.5 billion in 2019. Most experts estimate the damages will reach $20 billion in 2021. If this isn’t relevant to the boundless potential for destruction of ransomware, I don’t know what is
- 81% of all ransomware attacks have targeted enterprise organizations
- More than 90% of these ransomware attacks originate in infected emails
- In 2016, every 40 seconds, a business would be assaulted by a ransomware attack. That estimation jumped to 14 seconds in 2019, only to reach 11 seconds in 2021. It’s a mind-blowing idea to think about, indeed
Cryptojacking and formjacking, on the other hand, haven’t been around as much as ransomware. However, don’t mistake this for their lack in latent or demonstrated danger to individuals and businesses alike. They have their bloody history, which we’ll unfold right now:
- In 2018, the statistics said that 25% of the world’s businesses had met face to face with cryptojackers and lost. That same year, the cryptocurrency prices were plummeting without any sign of stopping, and that was a result of overwhelming cryptojacking events (an increase of 459% all around the world)
- Thanks to the high-tech tools they use, cryptojackers commit invisible attacks 50% of the time. This means half of the time, the victims don’t even realize they’ve been attacked
- A good cryptomining website can make up to $340 daily
What should we take away from all this?
The statistics clarify a few things – namely that cybercrime will continue to expand in scope, breadth, and sophistication. At the same time, cybersecurity will follow suit, extending the relevant workforce as well.
Essentially, as long as the Internet will exist, people will find ways to exploit its vulnerabilities and commit fraud and felonies. It is our jobs to seek a perfected cybersecurity solution to prevent such events from befalling us.