Skip to main content

Global Data Breach Costs will Reach $2.1 Trillion by 2019

As more business communication infrastructure moves online, it eventually becomes the target of someone that will attempt to negatively impact that enterprise. Computer crime is a growing threat to corporations and individuals who are increasingly dependent upon the Global Networked Economy.

Mobile devices with internet access amplifies that commercial dependency, and the greater potential for harm.

The growth of at-risk online commercial database access via the public internet will increase the cost of data breaches to $2.1 trillion globally by 2019 -- that's almost four times the estimated cost of these IT security breaches in 2015, according to the latest market study by Juniper Research.

That being said, their latest findings indicate that the majority of these new security breaches will likely come from criminal access to existing IT data centers and associated network infrastructure.

While new threats targeting mobile devices and the Internet of Things (IoT) are being reported, the number of virus infected devices is minimal in comparison to more traditional computing devices.

The study also highlights the increasing sophistication of cyber crime, with the emergence of cyber crime products -- such as the availability of malware creation software for purchase -- over the past year, as well as the reported decline in casual activist hacks.


Hacktivism has become more successful and less prolific, according to the Juniper assessment. In future, they expect fewer attacks overall, but more successful ones.

"Currently, we aren't seeing much dangerous mobile or IoT malware because it's not profitable," said James Moar, research analyst at Juniper Research.

He believes the kind of cyber threats we'll see will continue to be people locked-out of their device until they pay the hacker ransom to regain access, or where the device is hijacked as part of a hacker botnet.

At this time, with the absence of a direct payout from IoT security breaches, there apparently is little motive for online criminals to develop the required hacking tools. Of course, that situation could change over time.

Other key findings from the market study include:

  • Nearly 60 percent of anticipated data breaches worldwide in 2015 will occur in North America, but this proportion will decrease over time as other countries become both richer and more vulnerable.
  • The average cost of a data breach in 2020 will exceed $150 million by 2020, as more business infrastructure gets connected to the public internet.

Popular posts from this blog

2022 Tech Trends Outlook: What Happens Next?

This year may very well be another period of unprecedented challenges and opportunities. In 2022, several highly anticipated technology-related advancements will NOT happen, according to the predictions by ABI Research. Their analysts identify many trends that will shape the technology market and some others that, although attracting huge amounts of pundit speculation and commentary, are less likely to advance rapidly over the next twelve months. "The fallout from COVID-19 prevention measures, the process of transitioning from pandemic to endemic disease, and global political tensions weigh heavily on the coming year's fortunes," said Stuart Carlaw, chief research officer at ABI Research . What Won’t Happen in 2022? Despite all the headlines and investments, the metaverse will not arrive in 2022 or, for that matter, within the typical 5-year forecast window. The metaverse is still more of a buzzword and vision than a fully-fledged end goal with a clearly defined arrival d

Digital Transformation for the Oil and Gas Sector

The savvy CEOs of multinational organizations will accelerate their investment in digital transformation projects in 2022, and beyond, to improve their competitiveness. Every industry leader that is forward-looking will act swiftly to grasp the upside opportunity. Global oil & gas companies face a myriad of operational, commercial, and existential security threats. According to the latest worldwide market study by ABI Research, oil & gas firms apply digitalization to combat these threats and will spend $15.6 billion on digital technologies by 2030. Oil & Gas Digital Apps Market Development Investments in digitalization can help to analyze a supply pipeline’s condition, prepare for fluctuations in the changing prices for oil and gas, as well as aid action plans to create more sustainable operations and transfer to producing renewable energy sources. "Safety and Security are top priorities for oil & gas operators. Data analytics allied with IoT platforms have become

How Ride-Sharing Apps Changed Local Transport

Building on significant advances in disruptive mobile app technology, ride-sharing services have emerged to become a popular means of urban mobility. This is unsurprising given the advantages of ride-sharing options over traditional transport modes, such as buses and more expensive taxis. Innovative ride-sharing platforms enable app users to customize their journeys according to real-time phenomena, such as nearby traffic conditions, time of day, and rider demand. However, this is not to say that ride-sharing services are perfect. The popularity of ride-sharing has resulted in some additional traffic congestion in major cities already struggling to control this issue, while the widespread disruption caused by the pandemic affected most stakeholders within the local transportation value chain. Ride-Sharing App Market Development According to the latest worldwide market study by Juniper Research, ride-sharing spending by consumers globally will exceed $937 billion by 2026 -- that's c