It is estimated that businesses spent $170 billion on cybersecurity in 2022, and the global cybersecurity market will be valued at $403 billion by 2027 – with a compound annual growth rate of 12.5%.

Yet, hackers still manage to compromise corporate data and systems with relative ease, on a regular basis. This is due to a general lack in cybersecurity awareness and poor practices by most companies – and very little thereof by private individuals.

The covid pandemic and continued remote workforce post-covid had a major impact on cybersecurity. According to international law firm Reed Smith, online scams spiked by more than 400% in March 2020 compared to previous months. Google revealed that it blocked more than 18 million malware and phishing e-mails related to covid, every day.

Cybersecurity statistics are important to highlight the risks we face, and cybersecurity insights are vital to communicate common security mistakes, such as leaving data unprotected and using weak passwords, which cause vulnerability to breaches.

It is crucial for private individuals to have device and software protection installed, and for businesses to implement training processes that build awareness, prevention and best practices into their corporate culture – as companies may also be liable for the damage caused by the loss or theft of third-party data.

Major Hacking Events & Data Breaches

Organisations suffer costly losses of data due to hacking – including financial records, customer details, and operational records and data.

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