The cybersecurity industry is ever-changing, with business owners facing a raft of new challenges and threats every day. However, not every business leader knows what cybersecurity involves. Many aren’t even sure what threats they face and how devastating they can be.
If you want to be a well-informed business owner, your first step is to regularly check in with the latest cybersecurity stats. To that end, the statistics in this article will shed some light on how crucial the cybersecurity industry is.
Most Organizations Will Depend on Managed Service Providers
By 2025, at least 60% of organizations will depend on and work with a managed service provider. While the global managed services market was valued at $179.33 billion in 2011, SkyQuest Technology Consulting believes it will be worth at least $393.72 billion by 2028.
It’s easy to see that the managed services market is growing quickly. Businesses want to improve efficiency, strengthen cybersecurity measures, and optimize their IT operations. Managed service providers offering 24/7 monitoring can help them do just that. Most providers handle everything from business storage systems and servers to networks and other IT infrastructure.
Millions of Ransomware Attacks Reported Annually
Many business owners assume their business will never get on the radar of any cyber criminals. However, the following statistics provide a sobering dose of reality. In 2022, organizations detected 493.33 million ransomware attacks. While it’s a significant drop from 623.25 million the year before, that’s still hundreds of millions too many.
Cybercriminals typically target organizations that gather large amounts of critical data. In many cases, those organizations simply pay the ransom to restore their data and keep their reputation. This can result in ransomware attacks not being reported.
Phishing Remains the Most Common Form of Cyber Attack
Cybercriminals attack businesses and individuals in multiple ways. Data breaches, ransomware, malware, and spoofing, are among the most common. However, phishing attacks are the most common of all. At least 300,000 individuals were affected by phishing in 2022 alone. Healthcare, education, finance, and manufacturing are the most frequently targeted industries.
Phishing attacks involve deceptive techniques that trick people into revealing sensitive information. Email is often the preferred method, with cybercriminals impersonating trusted businesses and contacts. Once they have a victim, they access data and perform malicious activities. Phishing attacks can also result in identity theft, so it’s important to ensure you understand all the latest attack vectors.
There are Thousands of DDoS Attacks Daily
Distributed denial of service (DDoS) attacks involve flooding a network, service, or website with traffic to disrupt its standard functioning. These attacks lead to costly downtime for businesses and organizations.
In 2022 alone, Microsoft reported more than half a million DDoS attacks, averaging 1,435 per day. No business is exempt, with even Google Services being affected in 2017.
Millions of Websites are Infected with Malware
Most internet users assume the websites they visit are safe. Sadly, that’s not the case. At least 18.5 million websites are infected with malware – a form of software designed to damage and disrupt computer systems.
According to a 2022 Cost of a Data Breach Report published by IBM, ransomware takes around 237 days to identify and an additional 89 days to contain. During this time, the software may gain access to IT systems, disrupting services and stealing data.
The internet can be a scary place, especially if your business has inadequate IT support. No organization is 100% protected from malware, DDoS attacks, phishing attacks, and ransomware. However, managed service providers can offer the protection and peace of mind your business needs.
