top of page

How much cybercrime costs US business in 2024 and 4 other trends to pay attention to

person's hands typing on a laptop, floating image of a secure login in front of it

As we shift into a new year with many new possibilities for the evolving world of technology, it is more important than ever for organizations to stay ahead of emerging threats and trends in cybersecurity in order to safeguard their digital assets. Cyber criminals are becoming more creative and diverse in the ways that they conduct their work, leading businesses to take additional precautions to avoid threats and attacks.

Keep reading below to learn more about cybersecurity in 2024 through a few key statistics and trends that we have gathered. 

Cybersecurity Statistics for 2024

These statistics provide insights into the evolving landscape of cybersecurity for this year and beyond. The numbers show just how crucial it is for organizations to take a proactive approach to cybersecurity, utilizing advancing technologies to protect their data and systems. 

1. Worldwide cybercrime costs are estimated to hit $10.5 trillion annually by 2025: Cyber attacks can prove to be very costly for businesses, both big and small. This high yearly cost shows how important it is to invest in advanced cybersecurity measures. 

2. The global average cost of a data breach in 2023 was USD 4.45 million, a 15% increase over 3 years: A data breach can be difficult to come back from, especially for small businesses. That is why it is critical to take steps to prevent cyber attacks before they can cost an organization millions of dollars.

3. Globally, 72.7% of all organizations fell prey to a ransomware attack in 2023: Cyber attacks like these are only going to become more prominent as technology continues to advance. Staying ahead of cybersecurity trends and technologies may allow organizations to decrease the chance for ransomware. 

4. 94% of malware is delivered over email: Email phishing is a common way for cyber criminals to gain access to personal information. It is important to recognize clear signs of phishing and take steps to protect your data online. 

5. 75% of security professionals have observed an increase in cyberattacks over the past year: The number of cyberattacks that businesses face is increasing each year. Let’s look at some of the cybersecurity trends for 2024 to prepare for this unfortunate growth.

Cybersecurity Trends for 2024

1. Artificial Intelligence & Machine Learning

Artificial Intelligence (AI) and Machine Learning (ML) have continued to evolve quickly as they transform the world around us. These technologies are now predicted to have a more prominent role in the cybersecurity landscape. AI’s data analysis and predictive analytics allow for early-stage identification and prediction of cyber threats, while ML algorithms improve defensive measures after responding to new threats. 

2. Zero Trust Security Measures

Rooted in the principle of “never trust, always verify,” Zero Trust has become a fundamental factor in cybersecurity strategies. When utilizing Zero Trust, any access request, regardless of location or network, is treated as a potential threat and will require verification. Incorporating this model into core business functions increases the effectiveness of identifying internal threats and helps protect important organizational assets.

3. Increased Ransomware Attacks

Ransomware remains a persistent and evolving threat that affects organizations of all sizes. A resurgence of ransomware attacks is predicted for 2024, characterized by increased sophistication and scale. Organizations must prioritize ransomware preparedness, implementing robust backup and recovery measures, and adopting a multi-layered defense approach to thwart attacks.

4. IoT Security

Internet of Things (IoT) devices continue to grow and evolve in 2024, however the same can be said for possible security challenges. Organizations will grapple with securing IoT devices and networks, implementing stringent access controls, encryption protocols, and device management strategies to mitigate risks and safeguard sensitive data.

5. Remote Work & Cybersecurity

As remote work becomes increasingly prevalent even years after the pandemic, organizations must prioritize cybersecurity to protect their digital assets, safeguard sensitive data, and mitigate cyber threats across networks. By implementing robust endpoint security, secure remote access mechanisms, cloud security measures, employee training, and incident response protocols, organizations can fortify their remote work environments 

As we navigate the complex terrain of cybersecurity in 2024, organizations must remain vigilant, adaptive, and proactive in addressing emerging threats and trends. With a comprehensive cybersecurity strategy in place, organizations can navigate the shifts in cybersecurity and take necessary actions to protect their systems. 



bottom of page