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Industries boost cybersecurity investments

Cyber Risk Management
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November 21, 2019

Cyber risks and costs are rising – no matter your industry.

Most companies across industries and regions are upping their estimates of cyber losses.


Industries boost cybersecurity investments as cyberthreats grow The 3 top cyberattack vulnerabilities across most industries The highest concern are cybercriminals at 82% in the media and entertainment industry. Followed by Malicious insiders at 68% in the energy industry. Finally, it’s hactivists (those who use hacking to advance political or social change) at 49% in industrial manufacturing. The ranges across all surveyed industries was 60-82% for cybercriminals; 45% - 68% for malicious insiders and 45% - 49% for hactivists. Losses from cyberattacks by industry Financial with $12.8 billion average revenue suffered a $7.2 million average loss Technology with $8.4 billion average revenue suffered a $5.2 million average loss Energy wit $8.9 billion average revenue suffered a $5.1 million average loss Life sciences with $6.9 billion average revenue suffered a $4.9 million average loss Media with $5.1 billion average revenue suffered a $3.6 million average loss Industrial manufacturing with $9.4 billion average revenue suffered a $3.5 million average loss Consumer with $6.6 billion average revenue suffered a $3.3 million average loss Travel, hospitality, transport with $8.4 billion average revenue suffered a $2.9 million average loss All losses are rounded. Growth in cybersecurity investments All surveyed industries upped their game over the last fiscal year, and cybersecurity budgets are expected to rise, led by: Industrial manufacturing at 40% Financial at 40% Technology at 35% About the survey: Survey respondents by industry Travel, hospitality, transport 8% Energy 7% Consumer and retail 8% Technology 38% Life sciences and healthcare 16% Industrial manufacturing 16% Financial 11% Survey Source: In April – May 2019, ESI ThoughtLab surveyed 467 firms across 17 countries to gain insight into their latest cybersecurity perspectives, plans and practices.
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