The average cost of a data breach in 2021 was sitting at $4.24 million US dollars. In 2022 this increased by 2.6% to $4.35 million US dollars according to data breach statistics. The average cost of data breaches for critical infrastructure has increased to $4.82 million US dollars.
The cyber security sector has come under increasing pressures to implement, update and maintain their cybersecurity measures that are in place in an environment of every increasing risk in cyberspace.
In this post we will look at 2023 Data Breach Statistics by Industry.
2023 Data Breach Statistics By Industry
Critical infrastructure organizations account for 28% of targets by malicious ransomware attacks. Some of these sectors include healthcare, financial services, government organizations and more.
We will look at 3 main sectors, with those being healthcare, Financial sector and SME’s.
Healthcare Statistics
- In terms of healthcare insurance claims, the source of the issue had to do with malicious data breaches which stands at 18% and accidental data breaches at 29%.
- The average cost of a data breach in the healthcare sector increased by nearly 1 million USD reaching 10.10 million USD.
- The cost of healthcare breaches are the most expensive industry for 12 years straight. They have increased by 41.6% since 2020.
- A survey was conducted showed that about 70% of healthcare organizations saw increased hospital stays and delay in procedures due to the ransomware attacks (Click Here To Read More).
- 8% of data breache claims of healthcrare businesses were triggered by ransomware attacks.
Finance Statistics
- The insurance sector dealt with major losses and claims triggered through malicious data breaches
- Having the second highest costs when it comes to ransomware attacks, averaging at 5.97 million USD.
- The financial industry saw a rise of in ransoms from 5.72 million USD in 2021 to 5.97 million USD in 2022. This represents an increase of 0.25 million USD or 4.4%.
- 137 breaches took place in 2018 which exposed 1.7 million accounts (Click Here To Read More).
SME Statistics
- In 2016 95% of breached records originated from 3 industries. Those industries were government, retail and technology.
- 22% of cyber insurance claims for malicious data breaches (22%) were faced by manufacturing organizations.
- Insurance claims for malicious data breaches sit at 30% for malicious data breaches and accidental data breaches at 8% for retail and wholesale businesses
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