Spending on cybersecurity for different industries

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  Here are some of the top spending industries and their average annual cybersecurity spending per employee, based on a report by Deloitte¹:


- Financial Utility: **$4375**

- Service Providers: **$3266**

- Banking: **$2688**

- Consumer/Financial (nonbanking): **$2348**

- Insurance: **$1984**


The global cybersecurity market size was valued at **USD 153.65 billion** in 2022 and is projected to grow to **USD 424.97 billion** by 2030, exhibiting a CAGR of **13.8%** during the forecast period⁵. The COVID-19 pandemic has accelerated the need for digital transformation and increased the exposure to cyber threats, making cybersecurity a priority for businesses of all sizes and sectors. Some of the fastest-growing segments of cybersecurity spending include cloud security, data security, identity access management, and integrated risk management³⁴.


Source: Conversation with Bing, 18/09/2023

(1) Cybersecurity Spending By Industry (and Stats, Projections). https://www.solminion.com/blog/cybersecurity-spending-by-industry-and-stats-projections.

(2) undefined. https://www.fortunebusinessinsights.com/industry-reports/cyber-security-market-101165.

(3) Cybersecurity spending worldwide 2022 | Statista. https://www.statista.com/statistics/991304/worldwide-cybersecurity-spending/.

(4) Global Cybersecurity Spending To Exceed $1.75 Trillion From 2021-2025. https://cybersecurityventures.com/cybersecurity-spending-2021-2025/.

(5) . https://bing.com/search?q=cybersecurity+spending+by+industry.

(6) undefined. https://www.fortinet.com/resources/cyberglossary/cybersecurity-statistics.

_____--

According to the research from different sources the top 10 industries facing most cyber threats in 2020 were:


- Finance and insurance

- Manufacturing

- Energy

- Retail

- Professional services

- Government

- Health care

- Media and information communications

- Transportation

- Education


These industries were targeted by various types of cyberattacks, such as ransomware, server access, phishing, web application, and DDoS attacks. The impact of COVID-19 on the digital transformation and online services of these industries also increased their vulnerability and attractiveness for cybercriminals. You can find more details and statistics about these cyber threats in the links provided by my web search tool.


Source: Conversation with Bing, 9/18/2023

(1) Threat Actors’ Most Targeted Industries in 2020: Finance, Manufacturing .... https://securityintelligence.com/posts/threat-actors-targeted-industries-2020-finance-manufacturing-energy/.

(2) . https://bing.com/search?q=top+10+type+of+industries+facing+most+cyber+threats.

(3) Most Common Cyber Security Threats In 2023 – Forbes Advisor. https://www.forbes.com/advisor/business/common-cyber-security-threats/.

(4) The Top Ten Industries Under Cyber Attack | CSO Online. https://www.csoonline.com/article/570837/the-top-ten-industries-under-cyber-attack.html.

(5) Global distribution of cyber attacks in top industries 2022 - Statista. https://www.statista.com/statistics/1315805/cyber-attacks-top-industries-worldwide/.

(6) . https://www.mckinsey.com/capabilities/risk-and-resilience/our-insights/cybersecurity/cybersecurity-trends-looking-over-the-horizon.

(7) . https://www.gartner.com/en/articles/7-top-trends-in-cybersecurity-for-2022.

(8) . https://umbrella.cisco.com/blog/top-cybersecurity-threats-2022.

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