Cost of cyberattacks in 2023 and targeted companies
Worldwide, ransomware attacks have risen from one in 13 companies in 2022 to one in 10 in 2023, an increase of 33% in one year.
According to "Check Point Research, 2023", a website specializing in cyber security, there are almost 60 000 hacking attempts per company per year worldwide, or 1 158 attempted intrusions per company per week. This upward trend is a source of concern for the insurance market.
Weekly average cyber-attacks by company and sector of activity in 2023
| Sector | Weekly average attacks | 2022-2023 evolution |
|---|---|---|
| Education/Research | 2 046 | -12% |
| Government/Military | 1 598 | -4% |
| Healthcare | 1 500 | 3% |
| Communication | 1 493 | 8% |
| IT service providers | 1 286 | -6% |
| Finance/Banking | 1 162 | 3% |
| Services | 1 111 | 1% |
| Trade (retail/wholesale) | 1 062 | 22% |
| Leisure/Hospitality | 956 | 1% |
| Industry | 919 | -3% |
| Consulting | 837 | 21% |
| Systems integrators | 802 | -11% |
| Transport | 748 | -0,30% |
| Insurance/Legal | 740 | -23% |
| Software suppliers | 652 | -13% |
| Equipment suppliers | 506 | 13% |
Source: Check Point Research, 2023
The table above reveals a correlation between the nature of the data processed and the number of attacks sustained, with education, healthcare, finance, services, IT and government and military institutions found to be the most sensitive.
Due to the large amount of sensitive information they handle, the education, research, government/military and healthcare sectors top the list.
Percentage of companies targeted by ransomware attacks worldwide: 2018-2023
In the five years from 2018 to 2023, the percentage of companies targeted by attempted ransomware attacks rose from 4% to 10%.
| Year | Percentage of target companies |
|---|---|
| 2018 | 4% |
| 2019 | 7% |
| 2020 | 5% |
| 2021 | 8% |
| 2022 | 7% |
| 2023 | 10% |
Source: Check Point Research, 2023
In 2023 alone, cyber threats were estimated to have caused global economic losses of 8 000 billion USD. According to 2025 forecasts by «eSentire», an IT security services company, the cost of these threats is set to rise by 11% to 10 500 billion USD.
Average cost of a cyber-attack: 2017-2023
The average cost of a cyber-attack continues to rise from 3.62 million USD in 2017 to 4.45 million USD in 2023. This acceleration is due to the rise in the number of threats, the sophistication of attacks, and the growing cost of the financial consequences of cyberattacks.
Average cost of a cyberattack by region/country in 2023
The United States tops the ranking in average cost of a cyberattack, with a figure of 9.48 million USD in 2023. The Middle East takes second place with 8.07 million USD, followed by Canada with 5.13 million USD.
Germany and Japan have relatively lower average costs (between 4.67 and 4.52 million USD).
| Region/country | Average cost of a cyber attack in million USD |
|---|---|
| United States | 9.48 |
| Middle East | 8.07 |
| Canada | 5.13 |
| Germany | 4.67 |
| Japan | 4.52 |
| United Kingdom | 4.21 |
| France | 4.08 |
| Italy | 3.86 |
| Latin America | 3.69 |
| South Korea | 3.48 |
| Southeast Asia | 3.05 |
| South Africa | 2.79 |
| Australia | 2.7 |
| India | 2.18 |
| Scandinavia | 1.91 |
| Brazil | 1.22 |
Source: IBM Security, Cost of a data breach report 2023
Read also | The cyber insurance market
