08 Jan Top 5 Cybersecurity Facts, Figures, Predictions, And Statistics For 2021 To 2025
What you need to know about the trillion dollar cyber economy over the next 5 years
– Steve Morgan, Editor-in-Chief
Northport, N.Y. – Jan. 8, 2021
Cybercrime Magazine extrapolates the top 5 market data points from our research in order to summarize the cybersecurity industry through 2025.
Although the numbers listed below have been featured and quoted (with attribution to us as the source) by hundreds of major media outlets, vendors, academia, governments, associations, event producers, and industry experts — the material is all original research which first appeared in reports published by Cybersecurity Ventures.
1. Global cybercrime damage predicted to hit $10.5 trillion annually by 2025.
If it were measured as a country, then cybercrime — which is predicted to inflict damages totaling $6 trillion USD globally in 2021 — would be the world’s third-largest economy after the U.S. and China.
Cybersecurity Ventures expects global cybercrime costs to grow by 15 percent per year over the next five years, reaching $10.5 trillion USD annually by 2025, up from $3 trillion USD in 2015. This represents the greatest transfer of economic wealth in history, risks the incentives for innovation and investment, is exponentially larger than the damage inflicted from natural disasters in a year, and will be more profitable than the global trade of all major illegal drugs combined.
Cybercrime costs include damage and destruction of data, stolen money, lost productivity, theft of intellectual property, theft of personal and financial data, embezzlement, fraud, post-attack disruption to the normal course of business, forensic investigation, restoration and deletion of hacked data and systems, and reputational harm.
2. Cybersecurity spending will exceed $1 trillion from 2017 to 2021.
The cybersecurity market is continuing its stratospheric growth and hurtling towards the trillion-dollar mark that we originally predicted in 2017.
In 2004, the global cybersecurity market was worth $3.5 billion — and in 2017 it was expected to be worth more than $120 billion. The cybersecurity market grew by roughly 35X over 13 years entering our most recent prediction cycle.
We expect similar growth over the next five years.
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3. The world will have 3.5 million unfilled cybersecurity jobs by the end of 2021.
Every IT position is also a cybersecurity position now. Every IT worker, every technology worker, needs to be involved with protecting and defending apps, data, devices, infrastructure and people.
There will be 3.5 million unfilled cybersecurity jobs globally in 2021 — enough to fill 50 NFL stadiums — according to Cybersecurity Ventures. This is up from Cisco’s previous estimation of 1 million cybersecurity openings in 2014.
Surging cybercrime will result in a similarly large number of unfilled positions over the next 5 years.
4. Ransomware damage costs are predicted to grow more than 57X from 2015 to 2021.
Global ransomware damage costs are predicted to reach $20 billion in 2021, up from $325 million in 2015.
Ransomware attacks on healthcare organizations — often called the No. 1 cyber-attacked industry — will quadruple from 2019 to 2021.
Cybersecurity Ventures expects that a business will fall victim to a ransomware attack every 11 seconds by 2021, up from every 14 seconds in 2019. This makes ransomware the fastest growing type of cybercrime.
The frequency of ransomware attacks on governments, businesses, and consumers will continue to rise over the next 5 years.
5. The human attack surface will reach 6 billion people by 2022.
As the world goes digital, humans have moved ahead of machines as the top target for cybercriminals.
Cybersecurity Ventures predicts there will be 6 billion internet users by 2022 (75 percent of the projected world population of 8 billion) — and more than 7.5 billion internet users by 2030 (90 percent of the projected world population of 8.5 million, 6 years of age and older). The hackers smell blood now, not silicon.
Stay tuned for a mid-year update with more cybersecurity market research from the editors at Cybersecurity Ventures.