25 Cybersecurity Statistics Small Businesses Should Know


Want to know why you should be proactive in dealing with cyber threats? Read the latest cyber security statistics below.

Hackers are increasingly targeting small business owners. This is because small businesses have more data than individuals, but weaker security than large corporations.

We’ve compiled the latest cybersecurity statistics to help you understand the risks small businesses face these days.



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, distributed denial of service (DDoS) attacks, identity theft, and remote code execution attacks than the previous year if they do not. not taking proactive cybersecurity measures.

Additionally, hackers will release more and more zero-day exploits due to increased media attention and a large ransom.

The cybersecurity statistics mentioned below will help you understand the cybersecurity issues and security threats that businesses face today.

Which industries 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 the healthcare industry. The report also notes that ransomware attacks were the top type of cyber attack in 2021.

What is the growth rate of cyber security?

The global cybersecurity market was valued at $150.37 billion in 2021. And the cybersecurity industry is expected to reach $317.02 billion by 2027. This will create a strong demand for talented security professionals to address the growing challenges of cyber security.

25 Critical Cybersecurity Statistics

Dealing with any type of nasty cyber security incident can be quite scary for businesses, regardless of their size. These days, when a ready-to-deploy exploit kit can be easily purchased on the dark web, companies should be very careful to stay in the ring of cyber security 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 cyber statistics, here we’ve gathered everything you need to know to understand cybersecurity trends.

Let’s dive in:

Cybercrime statistics

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

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

3. There were 50% more cyber attacks per week on businesses compared to 2020

4. According to research by Cybersecurity Ventures, cybercrime costs will reach $10.5 trillion annually by 2025

5- The cost of ransom from ransomware attacks is rising like anything. In 2021, an insurance company paid out $40 million to hackers

Industry-specific cyberattacks

If you’re looking for industry-specific cyberattacks, you might be surprised by the following data from the IBM Security X-Force report:

6. If you work in the manufacturing industry, you should increase your spending on security. This is because the manufacturing industry had 23% of the total cyberattacks in 2021. And vulnerability exploitation was the leading infection winner in the manufacturing industries, followed by phishing attacks.

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

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

9. When it comes to cyber attacks, no one is immune, not even government agencies. 3% of total cyberattacks targeted government organizations.

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

The retail and wholesale industry had 7% of the total cyberattack in 2021. As you can see from these cybersecurity statistics, no industry is safe from cybersecurity threats.

Therefore, you should make a reasonable budget for cybersecurity spending to hire talented cybersecurity professionals, adopt zero-trust mode, and train your employees on cybersecurity best practices.

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

Cyber ​​attack statistics

11. By 2023, Cisco analysts estimate that DDoS attacks will increase to 15.4 million. That’s more than double the 7.9 million attacks in 2018.

The following cybersecurity statistics from the X-Force Threat Intelligence Index will blow your mind:

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

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

14. Credential harvesting attacks accounted for 7% of total cyber attack incidents in 2021

15. Phishing, seen in 41% of cyber attacks, emerged as the top infection winner in 2021. And other top threat winners included vulnerability exploitation, 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 average total cost of a data breach in the industry. The average total cost of a healthcare data breach is $9.23 million.

18. 44% of data breaches involve customer personally identifiable information (PII).

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 that use high-standard encryption have a 29% lower total cost of a data breach than companies that have low or no encryption.

US data breach statistics

21. With an average attack costing $8.6 million, the US 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, which has more internet and tech companies than any other US state, suffers the most data breaches in the country.

25. The United States suffers the most data breaches worldwide.

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

To protect your small business from cyber threats, you should spread cybersecurity awareness throughout your organization, implement a strong password policy, strengthen email security, increase Wi-Fi security, purchase latest cybersecurity tools and secure your payment processor.

Even if you’ve eliminated poor cybersecurity practices, nasty cyber incidents can still occur due to human error. Therefore, you need to buy a good cyber liability insurance.

conclusion

Now that you know the latest cyber security statistics. The next step is to strengthen your cyber security to prevent/minimize any incident of security breach, malware attack, phishing attack or any other type of cyber attack.

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