A quick dive into the cyber security trends and statistics facing companies this year

We’ve all heard the saying, “The best defense is a good offense.” This quote has been used throughout history and largely referred to by sports analysts when commentating on games.

This motto is also the strategic offensive principle of war. It derived from the idea that if you’re relentlessly attacking your opponent, then they’ll have no choice but to be preoccupied with defending themselves. 

And with the advancement of technology and cybercriminals, the state of our cyberspace feels like it’s at constant war, which is why 97% of businesses are starting to understand the need for offensive tactics, such as penetration testing, to defend their environments and data.

Regardless, many companies are still struggling with finding a qualified pentesting partner or knowing how to keep their companies secure. 30% of companies reported they’re struggling with finding funding and convincing the decision makers that investing their budget into cybersecurity will make or break their businesses.  

One in eight of businesses have been or will be destroyed by a data breach. And once a company suffers a data breach, 60% of them will be forced into bankruptcy within six months. 

Furthermore, one of the most chilling parts of these statistics is that 20% of all companies will suffer a cybersecurity attack in the next year. When we look at cloud environments, these numbers have a huge impact. Currently, 94% of all existing enterprises use a cloud service to store the bulk of their high-value data. So when we consider the cloud computing market is projected to be worth $832 billion by 2025, storing over 100 zettabytes of data, the threat of a cyber attack is growing exponentially

And unfortunately, one potential consequence of being hacked is becoming a victim of ransomware. There are over 4,000 ransomware attacks per day. This is a 300% increase from 2015. Moreover, the average cost of a ransomware attack in 2021 was $1.85 million– almost double the cost from 2020. 

In order for your business to succeed in the modern era, knowing your financial numbers is not enough. You must also know your cybersecurity risk scores. As our technology advances rapidly, our security efforts must advance just as fast. So, take the time to find trusted security partners and make sure your company is secure from cyber threats before it is too late.

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