25 Cybersecurity Statistics Small Businesses Should Know

Want to know why you should be proactive against cyber threats? Read the latest cybersecurity statistics below.

Hackers are increasingly targeting small business owners. Indeed, small companies have more data than individuals, but weaker security than large companies.

We’ve collected the latest cybersecurity statistics to help you understand the risks small businesses face today.



Top cybersecurity risks and trends in 2022

With the growing trend of hybrid working and the use of cloud technology, cyber risks have multiplied.

Business leaders can expect more incidents of attack surface expansion, data security breaches, digital supply chain attacks, ransomware attacks, and more. distributed denial of service (DDoS), identity theft and remote code execution attacks than the year before if they don’t. do not take proactive cybersecurity measures.

Moreover, hackers will launch more and more zero-day exploits due to increased media attention and high ransom.

The cyber security statistics mentioned below will help you understand the cyber security issues and security threats that businesses are facing nowadays.

Which sectors are most vulnerable to cybercrime?

According to the IBM Security X-Force report, cybercriminals targeted the manufacturing industry the most in 2021, followed by finance and insurance, professional and business services, energy, retail and wholesale and of the health industry. The report also notes that ransomware attacks were the top type of cyberattack in 2021.

What is the growth rate of cybersecurity?

The value of the global cybersecurity market was $150.37 billion in 2021. And the cybersecurity industry is expected to touch $317.02 billion by 2027. This will create a high demand for talented security professionals to meet the growing challenges of cybersecurity.

25 Critical Cybersecurity Statistics

Dealing with any type of untoward cybersecurity incident can be quite frightening for businesses, regardless of size. Nowadays, while one can easily buy an exploit kit ready to deploy on the dark web, companies have to be extra careful to protect themselves from cybersecurity threats.

It is always better to address insufficient security measures and train employees to minimize human error to strengthen your defense.

From cybercrime statistics to industry-specific cyberstats, we’ve gathered everything you need to know to understand cybersecurity trends here.

Let’s dive in:

Cybercrime statistics

1. According to an FBI report, there were a record 847,376 cybercrime complaints reported by the public in 2021.

2. SMBs lost $212,000 in 2021 due to cyber incidents affecting vendors they share data with

3. There were 50% more cyberattacks per week against businesses compared to 2020

4. According to research by Cybersecurity Ventures, the costs of cybercrime will reach $10.5 trillion per year by 2025

5- The high cost of ransomware attacks increases like anything. In 2021, an insurance company would have paid 40 million dollars to hackers

Industry specific cyberattacks

If you are looking for industry-specific cyberattacks, the following data from the IBM Security X-Force report may surprise you:

6. If you work in the manufacturing industry, you should increase your security spending. Indeed, the manufacturing industry recorded 23% of total cyberattacks in 2021. And exploiting vulnerabilities was the top winner of infections in manufacturing industries, followed by phishing attacks.

seven. Financial institutions, which previously had the most cyberattacks, witnessed 22% of total attacks. Phishing was the most common infection winner for financial institutions.

8. If you’re wondering how many cybersecurity attacks occurred in healthcare in 2021, the answer is 5%. And exploiting vulnerability was the main winner of infection in healthcare organizations.

9. When it comes to cyberattacks, no one is immune, even government agencies. 3% of total cyberattacks targeted government organizations.

ten. With only 2.5% of the total number of cyberattacks, the media industry was the least attacked industry in 2021. Ransomware attack was the most common type of attack targeting media.

The retail and wholesale industry recorded 7% of total cyberattacks in 2021. As you can see from these cybersecurity statistics, no industry is immune to cybersecurity threats.

So you need to budget reasonably for cybersecurity expenses in order to hire talented cybersecurity professionals, adopt zero-trust mode, and train your employees in cybersecurity best practices.

Also, you should encrypt your sensitive data and have good cyber insurance to stay safe.

Cyberattack statistics

11. By 2023, Cisco analysts estimate that DDoS attacks will reach 15.4 million. This is more than double the 7.9 million attacks in 2018.

The following cybersecurity statistics from X-Force Threat Intelligence Index will surprise you:

12. A ransomware attack, which is a type of malware attack, was the top type of cyberattack in 2021. In fact, 21% of total cyberattacks were ransomware attacks.

13. Server access attacks accounted for 14% of total cyberattacks in 2021

14. Credential Harvesting Attacks Represented 7% of Total Cyber ​​Attack Incidents in 2021

15. Phishing, having been seen in 41% of cyberattacks, became the top infection winner in 2021. And other top threat winners include exploiting vulnerabilities, stolen credentials, brute force, remote desktop , removable media and password spraying.

Global Data Breaches

The following statistics from IBM research will help you understand the global data breach landscape:

16. The global average cost of a data breach (total) is $4.24 million. Curious about the average cost of a data breach per record? The average cost of a data breach per record (per capita) is $161.

17. Healthcare organizations suffer the most when it comes to the industry average total cost of a data breach. The average total cost of a healthcare data breach is $9.23 million.

18. 44% of data breaches include personally identifiable information (PII) of customers.

19. It takes an average of 212 days to identify a data breach and an average of 75 days to contain a data breach.

20. Using encryption can significantly reduce the cost of data breaches. Companies using high-level encryption have a total cost of a data breach that is 29% lower than companies with weak or no encryption.

US Data Breach Statistics

21. With an average attack costing $8.6 million, the United States has the highest data breach cost in the world, according to IBM.

22. The United States witnessed 2,953 publicly reported data breaches throughout 2021. The number is up 11% from last year.

23. The healthcare industry is experiencing an increasing number of data breaches. The healthcare industry reported 4,419 data breaches of 500 or more records between 2009 and 2021.

24. California, home to more technology and internet companies than any other state in the United States, suffers the most data breaches in the country.

25. The United States suffers from the highest number of data breaches in the world.

What can you do to protect your small business from cyber threats?

To protect your small business from cyber threats, you need to spread cybersecurity awareness throughout your organization, enforce a strong password policy, strengthen email security, strengthen Wi-Fi security, purchase the latest tools cybersecurity and securing your payment processor.

Even if you have eliminated bad cybersecurity practices, unfortunate cyber incidents can occur due to human error. You should therefore take out good cyber liability insurance.

Conclusion

Now that you know the latest cybersecurity statistics. The next step is to strengthen your cybersecurity to avoid/minimize any incidents of security breaches, malware attacks, phishing attacks or any other type of cyberattack.

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