Global cybercrime estimated cost 2029

The global indicator 'Estimated Cost of Cybercrime' in the cybersecurity market was forecast to continuously increase between 2024 and 2029 by in total 6.4 trillion U.S. dollars (+69.41 percent). After the eleventh consecutive increasing year, the indicator is estimated to reach 15.63 trillion U.S. dollars and therefore a new peak in 2029. Notably, the indicator 'Estimated Cost of Cybercrime' of the cybersecurity market was continuously increasing over the past years.

Ransomware and manufacturing industry

Cyberattacks remain a significant challenge for organizations worldwide, sectors such as manufacturing, finance, and insurance were the most affected by these attacks. Among the various types of cyber threats, ransomware was the most frequently detected, accounting for around 70 percent of all incidents. The manufacturing industry, in particular, faced the highest number of ransomware attacks, making it the most targeted sector globally.

Cybersecurity awareness and investments

Organizations worldwide became increasingly aware of the dangers posed by cyberattacks, approximately 40 percent of internet users became familiar terms such as with "ransomware." In response to these threats, companies invested more in cybersecurity. In 2024, the average annual increase in IT security budgets was expected to reach 5.7 percent. In fact, for companies worldwide, enhancing the cyber resilience of their cybersecurity teams was the top spending priority in 2023.

Estimated cost of cybercrime worldwide 2018-2029 (in trillion U.S. dollars)

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Supplementary notes

Data provided by Statista Market Insights are estimates.

Definition:
Cybersecurity refers to the process that provides and maintains confidentiality, integrity, availability, and privacy. This includes measures to prevent and respond to all incidents of cybercrime, such as digital attacks and disruptions, to protect computer systems, networks, programs, and data (e.g., personal assets, important files, as well as industrial and governmental information).

Cybersecurity is becoming increasingly important, as companies, governments, and individuals are more and more reliant on IT systems, which are vulnerable to malicious actions. This digital transformation has made security a priority for organizations of every size.

Structure:

The Cybersecurity market includes revenues generated by its two key products, cyber solutions and security services.

Cyber solutions refer to a range of products or services designed for the specific cybersecurity requirements of organizations, effectively aligned with their risk landscape and security strategies.
Security services refer to an overarching processing or a wide range of services that enhance an organization’s protection and security strategy against common cybercrimes, such as phishing, malware, or ransomware.

Additional information:

The Cybersecurity market comprises revenues, revenue change, average spend per employee, the number of recorded cyberattacks, the estimated cost of cybercrime, as well as a list of the key players in the market and their consolidated revenues. Market values represent revenues that are generated by primary vendors, either directly or through distribution channels (manufacturer prices, excluding VAT). Reported market revenues include consumer spending (B2C), business spending (B2B), and government spending (B2G). Detailed definitions of each market can be found on the corresponding market pages. Key players in the market include Microsoft, Accenture, and Palo Alto Networks.

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