Cybersecurity threats are a gigantic business chance for all organizations. Small and medium-sized organizations (SMBs) — including fiberglass rod manufacturers — are particularly defenseless against cyber-related attacks.
Small and medium-sized makers (SMMs) are frequently observed as a simple passage point — a “delicate” target — into more prominent organizations and government offices. One of the initial steps while organizing how to deal with your business risk is to assemble data about the dangerous environment.
Cyber Security Facts
The 20 most important (probably shocking) cyber security stats enumerated below focus on what fiberglass tent pole manufacturers need to know about the “what” and “so what” of cyber security. As a result, they can start planning their “now what” actions.
A recent survey shows that 10% of breached small businesses shut down in 2019. (National Cybersecurity Alliance)
77 percent of manufacturing companies think cybersecurity as a major priority. (Kaspersky Labs)
32 percent of Managed Service Providers (MSPs) describe Construction and Manufacturing most targeted by ransomware. (datto)
According to a recent SBA survey, 88% of small business owners felt their business was vulnerable to a cyber attack. (SBA)
Ransomware is the No. 1 threat to SMBs with 1 in 5 reporting that they have fallen victim to a ransomware attack. (Datto)
From Q2 of 2019 to Q3 of 2019, the average ransomware payment increased 13% to $41,198. (Coveware)
Cybersecurity Ventures’ damage cost projections are based on historical cybercrime figures including recent year-over-year growth. Cybercrime will cost the world $6 trillion annually by 2021. (Cybersecurity Ventures)
It is predicted by 2021 a business will fall victim to a cybersecurity attack every 11 seconds. (Cybersecurity Ventures)
Predictions state global spending on cybersecurity products and services will exceed $1 trillion cumulatively over the five-year period from 2017 to 2021. (Cybersecurity Ventures)
The average cost concerning data breach is about 3.92 million USD as of 2019. (Security Intelligence)
About 20% of malicious domains are very new and used within about one week after they are registered. (Cisco)
Roughly 60% of malicious domains are associated with spam campaigns. (Cisco)
Microsoft Office formats such as Word, PowerPoint, and Excel make up the most prevalent group of malicious file extensions at 38% of the total. (Cisco)
A forecasted 74 percent of companies have in excess of 1,000 stale sensitive files. (Varonis)
An estimated 41% of companies have more than 1,000 sensitive files, including credit card numbers and health records left unprotected. (Varonis)
An estimated 21% of all files are not protected in any way. (Varonis)
Data breaches exposed 4.1 billion records in the first half of 2019. (RiskBased)
An average of 44% of those alerts is not investigated among organizations that receive daily security alerts. (Cisco)
63% of Managed Service Providers (MSPs) predict ransomware will target social media accounts. (datto)
Extensive use of encryption was found to reduce the total cost of a data breach by $360,000. (SecurityIntelligence)
Various other statistics encapsulate the “what” and “so what” regarding why Small and medium-size companies should consider implementing a cyber security practice.