April 30th, 2021 Read Time: 6 minutes
Justin Sheil is the Content Marketing Manager at Electric. He has 5+ years experience writing about a wide range of technology topics. As part of his role at Electric, he currently functions as the head of the company’s Research & Insights division.
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The shift to large-scale remote work in the wake of the pandemic fundamentally changed the way that businesses operate. One could argue that one of the most crucial aspects was adjusting cybersecurity protocols to accommodate new attack vectors that the pandemic catalyzed.
Why is this important for businesses? It’s estimated that 25% of Americans won’t shop at companies after a data breach. As a result, 60% of small businesses will permanently close after a data breach. Find those statistics shocking? Well we’ve compiled a list of 30+ of the most compelling cyber security statistics you need to know.
The Electric Research and Insights division surveyed cybersecurity industry professionals to discover the impact the pandemic is having on cybersecurity and remote work practices at their respective organizations.
The research took place to assess how these professionals are dealing with cybersecurity challenges 9+ months into the pandemic. The research produced the Electric 2021 Cybersecurity Report and you can find a snapshot of the findings below.
1. 96% of Cybersecurity professionals (from their respective organizations) have made at least some changes to their security strategy as a result of more people working from home during the pandemic.
2. 76% of Cybersecurity professionals (from their respective organizations) are more concerned with social engineering attacks as a result of the pandemic.
3. 93% of IT Professionals are at least taking some additional precautions to mitigate against supply chain attacks, IP Theft, Advanced Persistent Threats, cyberespionage, or IoT as an attack vector as a result of the pandemic.
4. 71% of IT Professionals say someone at their company succumbed to a social engineering attack since the beginning of the Covid-19 Pandemic.
Cybersecurity crimes can cost your business millions of dollars. As more people are using company devices outside of the traditional office and more tools are being used to make remote work easier, the importance of protecting your business from cyber crimes has never been more paramount. These cybersecurity crime statistics prove that it’s worth taking every precaution to protect yourself in 2021.
5. Cybercrime is predicted to inflict damages totaling $6 trillion USD globally in 202. (Source)
6. Number of Fraud, Identity Theft reports in 2020 were 4.72 million. (Source)
7. 56% of Americans don’t know what steps to take in the event of a data breach. (Source)
8. According to the IBM X-Force Threat Intelligence Index Report,ransomware was the top threat, comprising 23% of attacks. (Source)
9. 65% of US Organizations experienced a successful phishing attack last year, according to the 2020 State of Phish Annual Report. (Source)
10. The average cost of a malware attack on a company is $2.4 million. (Source)
11. On a global level, CyberSecurity spending is expected to exceed $1 trillion. (Source)
Many small business owners take cybersecurity lightly, as they suspect cyber criminals will only attack the bigger businesses. However, these cybersecurity statistics for small businesses will prove that it’s worth investing time and money in protecting against cyber threats in 2021.
12. 28% of Cybersecurity Breaches involve small businesses. (Source)
13. 43% of SMB owners have no cybersecurity defense plan in place at all, according to a 2020 BillGuard survey. (Source)
14. According to a 2020 BillGuard survey, 65% of SMB owners report managing their cybersecurity in-house, but less than 10% say they have a dedicated IT staff member. (Source)
15. For small businesses, the top threat action was phishing. (Source)
Cybersecurity data breaches happen more often than you think, and through many different tactics. Hackers are constantly thinking up new ways to exploit security loopholes and access sensitive information. In 2021, you will want to make sure your business does not become one of these cybersecurity data breach statistics.
17. The average time it takes to identify and contain a breach is 280 days. (Source)
18. 86% of Cybersecurity Breaches are financially motivated. (Source)
19. 37% of Breaches steal or use credentials. (Source)
20. 35% of attacks leveraged vulnerabilities. (Source)
21. 30% of data breaches involve internal actors. (Source)
22. 22% of breaches involved phishing. (Source)
Big businesses have to be the most vigilant when it comes to cybersecurity, because a single breach can cost them millions of dollars. See how enterprise businesses prioritize cybersecurity and take action to protect their high-revenue operations.
23. 72% of breaches involved large business victims. (Source)
24. The average cost of a breach at enterprises of more than 25,000 employees is $5.52 million. (Source)
Preparing your workforce for cyber threats is one of the best ways to prevent losing money and data to an attack. There are multiple ways to train your employees, from outsourcing security training courses to providing eBooks with strategies. Making sure your staff is knowledgeable about cybersecurity and how to prevent common attacks is imperative to prevent a data breach from occurring.
25. In a survey conducted by Statista—to find employee cybersecurity training frequency in organizations in the United States (2018)—they found that 29% of respondents shared that their organization provided cybersecurity training once per year. (Source)
26. According to Mimecast’s security awareness training statistics, only 45% of organizations provide employees with formal security awareness training that is mandatory for all employees. (Source)
With new threats emerging daily, the demand for cybersecurity professionals is at an all time high. If you’re considering a career in the field, check out these cybersecurity employment statistics to see if it’s the right fit for you.
27. According to the Bureau of Labor Statistics, the rate of growth for jobs in information security is projected at 37% from 2012–2022.
28. There will be 3.5 million unfilled cybersecurity jobs globally by 2021, according to Cybersecurity Ventures’ prediction. (Source)
29. In the U.S., the national salary average of a CyberSecurity job is$112,974 (Source)
30. Application Development Security and Cloud Security are the fastest-growing skill areas in cybersecurity, with projected 5-year growth of 164% and 115%. (Source)
As the world continues to navigate the complexities of a distributed workforce, Electric is here to support your organization. Electriccan work closely to help you push security policies and configurations that adhere to industry best practices across your entire company. Our commitment to architecting IT infrastructure security starts at the core of your business. That's why we unify security at the device, application, and network levels.