In today’s interconnected world, cybersecurity is more crucial than ever. Understanding cyber risks’ current state is essential for individuals and organizations as we approach 2024. The top ten cybersecurity figures for this year are as follows:
Global Cybercrime Costs
The global cost of cybercrime is predicted to reach $10.5 trillion by 2025, up from $8.4 trillion in 2023. This number highlights the significant economic impact of cyber attacks and the necessity of effective cybersecurity measures.
Ransomware Attacks
By the end of 2024, ransomware assaults are predicted to happen every 11 seconds, indicating that the threat is still genuine. Since ransomware may affect businesses of any size, being ready for it should be a top concern.
Breach of Data
The average cost of a data breach increased by 12% from 2020 to $4.35 million in 2024. This statistic demonstrates the financial strain that data breaches may place on organizations.
Phishing Attacks
Phishing is the most common cause of data breaches, with over 36% of cases coming from this source. Even with greater awareness, phishing is still a powerful technique in the hands of hackers.
Cloud Security
Since 94% of businesses use cloud services, securing cloud environments is more critical than ever. Still, about 70% of companies claim their cloud security procedures need to be improved.
IoT Devices
By 2025, 30 billion Internet of Things (IoT) devices will be worldwide. Sadly, 65% of businesses find it challenging to keep these devices safe, which makes them easy targets for hackers.
Insider Threats
Insider threats cause 34% of data breaches, and the average incidence costs businesses $11.45 million annually. This emphasizes the importance of thorough security rules and staff training.
Artificial Intelligence in Cybersecurity
80% of firms are either using or considering AI and machine learning in their cybersecurity plans. Artificial Intelligence is becoming indispensable for promptly recognizing and addressing cyber threats.
Cybersecurity Skills Gap
There will still be a skills deficit in cybersecurity, with 3.5 million open opportunities by 2024. Due to a lack of competent workers, firms are more open to attacks.
Compliance and Regulations
With the introduction of new data protection laws, 78% of companies report that keeping up with regulatory requirements is a significant challenge. Failure to comply may incur heavy fines and legal consequences.
Conclusion
Staying informed about the latest cybersecurity trends and statistics is essential for safeguarding your business in 2024 and beyond. All-Tech Communications (ATC) provides complete cybersecurity solutions customized to meet your company’s specific requirements. Our knowledgeable staff keeps up with new threats to offer strong protection for your priceless equipment and data. Get in touch with us right now to find out how we can improve your cybersecurity posture and guarantee your company’s safe and effective operation.