Cybersecurity Cost Globally

Cost of a cyber attack. A 2018 report by ibm showed a global average cost of a data breach as 3 86 million dollars. Every year cybercrime damages will cost the world 6 trillion by 2021.

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The average cost of cybersecurity breaches among large organizations has increased by over 11 in 2017.

Cybersecurity cost globally. The government cybersecurity market is expected to grow at a cagr of over 15 over the. Several cybersecurity reports suggest that the fastest rising crime worldwide is cyberattacks. Overall the average annual cost to organizations has been ballooning for all types of cyberattacks. Worldwide spending on cybersecurity is forecasted to reach 133 7 billion in 2022.

This represents the greatest transfer of economic wealth in history risks the incentives for innovation and investment and will be more profitable than the global trade of all major illegal drugs combined. This represents the greatest transfer of economic wealth in history risks the incentives for innovation and investment and will be more profitable than the global trade of all major illegal drugs combined. The global cybersecurity market is predicted to grow from 167 1b in 2019 to 248 26b by 2023 attaining a 10 4 cagr according to statista. For example a single malware attack in 2018 costed more than 2 6 million while ransomware costs rose the most between 2017 2018 from 533 000 to 646 000 a 21 increase.

The growth of cybercrime will cost the global economy more than 2 trillion by 2019 according to the better business bureau s 2017 state of cybersecurity among small businesses in north america report. In august of 2016 cybersecurity ventures predicted that cybercrime will cost the world 6 trillion annually by 2021 up from 3 trillion in 2015. Organizations spend more than ever to deal with the costs and consequences of more sophisticated attacks the average cost of cybercrime for an organization increased us 1 4 million to us 13 0 million. For 2019 cybercrime related costs are predicted to surpass 2 trillion globally.

The 2019 report lists a global average cost of 3 92 million per breach. Last year cybersecurity ventures predicted that cybercrime will cost the world 6 trillion annually by 2021 up from 3 trillion in 2015. Worldwide security spending on identity access.