Statistics on Data Loss in 2024

Data loss continues to be a real headache for many companies around the world. Not only does it cause operational problems, but also financial ones, and big ones at that. In 2024, the average cost of a data breach was $4.88 million, representing a 10% increase over the previous year. Which country is the most expensive for such an incident? The United States, with an average of $9.36 million per breach, followed closely by the Middle East, with $8.75 million.

And what are the most common causes? Mainly hardware failures (44%), although the human factor also plays an important role (32%). In addition, there are cases of software corruption (14%) and virus or malware attacks (7%). A frightening fact: when a security breach involves stolen credentials, it takes an average of 292 days to detect and contain it. That's almost a year... and a very expensive year.

The impact of these incidents goes beyond money. Fifty-one percent of companies that suffer a serious data loss fail to survive more than two years. And what's worse: if they lose access to their data for more than 10 days, 93% end up going bankrupt in less than a year. Yes, it's that serious.

Impact of Data Loss on SMEs: Alarming Figures

A recent report by Rival Data Security confirms this trend: in 2024, each breach cost, on average, the aforementioned $4.88 million, 10% more than in 2023. Looking ahead, the projections are even more worrying: by 2025, cybercrime is expected to cause losses of $10.5 trillion per year, compared to $3 trillion in 2015. In other words, in just a decade, the impact would have more than tripled.

The hardest-hit sector? Healthcare. In 2024, it recorded the most expensive data breaches, with an average of $9.77 million per incident. This is a critical area where every second and every piece of data counts.

The latest statistics on data loss paint a complicated picture, especially for small and medium-sized enterprises (SMEs). On average, a breach cost them $2.98 million, a figure that is unsustainable for many. In fact, 6 out of 10 SMEs had to close their doors within six months of an attack.

The problem is not only the damage, but also how long it takes them to realize it. On average, organizations take 204 days to detect a data breach, and then need another 73 days to fully resolve it. In other words, they spend months in a critical situation without knowing it.

But it's not all bad news. Companies that are already using artificial intelligence and automation have managed to significantly reduce costs: on average, they saved $2.22 million compared to those that have not yet implemented these tools. Clearly, investing in smart technology is not a luxury, but a necessity.

In the last five years, ransomware attacks have not only grown by 13%, but each attack has cost companies an average of $1.85 million. Furthermore, if the attack involved public cloud systems, the blow was even harder: $5.17 million per incident, on average.

And what about so-called mega-breaches? In 2024, a single one of these (involving between 50 and 60 million compromised records) cost $375 million. That's $43 million more than the previous year.

The most common cause of all these breaches? Human error. That's right, things like clicking on a fake email (phishing) were responsible for approximately 68% of all data breaches in 2024. A single click can cost millions.

Read more: What is Phishing? Protect Yourself from Digital Deception

General Statistics on Data Loss in Businesses

1. USD 1,410 per minute: That's how much small businesses lose, on average, every time their systems are down. Every minute counts!
   
   
2. 206 days of invisibility: That's the average time that passes before a company realizes it has suffered a data breach. More than six months with an undetected breach.
   
   
3. USD 4.24 million per breach: That has been the average cost of a data breach in recent years. A huge impact for any organization.
   
   
4. 1,862 breaches in 2021: That's how many were recorded that year, representing 754 more than in 2020. The problem continues to grow.

Main causes of data loss:

1. Hardware failures: 40%

2. Human error: 29%

3. Malware: 35% of cases involved malicious software

Frequency of the problem: Approximately 1 in 4 companies has suffered a data breach in recent years.

Devastating consequences:

1. 93% of companies that lose their data for an extended period end up going bankrupt.

2. After a ransomware attack, 22% of small businesses are forced to close.

Alarming lack of protection: 21% of business files have no security measures in place. It's like leaving the door open... and inviting thieves in!

Read more: Cloud Backup

How many accounts were affected by data loss?

Data loss has only increased, and this is reflected in the number of user accounts compromised worldwide. See how they rose quarter by quarter:

1. Q1 2023: 4.2 billion accounts exposed
   
   
2. Q2 2023: 4.5 billion
   
   
3. Q3 2023: 4.8 billion
   
   
4. Q4 2023: 5 billion
   
   
5. Q1 2024: 5.2 billion
   
   
6. Q2 2024: 5.5 billion
   
   
7. Q3 2024: 5.8 billion 

In summary: every quarter, millions more users are left vulnerable. This trend shows no signs of slowing down.

How much does data loss really cost? (by country or region)

In 2024, the average cost of data loss varied greatly by region. Here are some of the most affected countries and what each incident costs them, on average:

1. United States: $9.36 million

2. Middle East: $8.75 million

3. Benelux: $5.90 million

4. Germany: $5.31 million

5. Italy: $4.73 million

6. Canada: $4.66 million

7. United Kingdom: $4.53 million

8. Japan: $4.19 million

9. France: $4.17 million

10. Latin America: $4.16 million

11. South Korea: $3.62 million

12. ASEAN: 3.23 million

13. Australia: 2.78 million

14. South Africa: 2.78 million

15. India: 2.35 million

16. Brazil: 1.36 million

As you can see, no region is safe, but the financial impact can be especially hard on countries where businesses are not as prepared.

How much does cybercrime really cost the world?

Cybercrime isn't just growing... it's skyrocketing. In 2024, it is estimated to have cost the world around $9.22 trillion. Yes, trillion with a “t”! That's 13.13% more than in 2023.

And the worst part? The projections don't look good: by the end of 2025, that figure is expected to reach $10.29 trillion, which would be another jump of 11.61%. In short: with each passing year, protecting yourself is cheaper than not doing so.

Read more: Adidas Confirms Data Breach Following Cyberattack

Which sectors and companies lost the most accounts in leaks?

When it comes to data leaks, some sectors have been hit much harder than others. Here is a summary of some of the most significant and worrying cases:

1. Data brokering: A leak involving national public data ended up exposing no less than 2.9 billion accounts. Yes, billions.

2. Telecommunications (AT&T): This incident exposed the data of 109 million accounts.

3. Healthcare (Change Healthcare): One of the most sensitive sectors in terms of privacy suffered the leak of 100 million records.

4. Entertainment and ticket sales (Ticketmaster): 560 million user accounts were compromised.

5. Banking (Banco Santander): This bank had a breach that exposed 30 million accounts.

6. Technology (Dell): In this case, 49 million customer accounts were compromised.

7. E-commerce (PandaBuy): This online store suffered a leak of 1.3 million accounts.

8. Cloud services (Snowflake): Data from 165 million accounts belonging to multiple customers was exposed.

9. Retail (Advance Auto Parts): The auto parts company recorded a leak that affected 2.3 million users.

10. Government (US Immigration Services): Although on a smaller scale, this case involved 100,000 confidential records.

The largest data loss cases in history

When it comes to massive data breaches, there are some cases that have really left their mark... and not exactly in a good way.

As of January 2024, the largest breach on record occurred in March 2020. It involved Cam4, a webcam site that exposed 10.8 billion records. Yes, billions of pieces of data were exposed.

The second largest case involved Yahoo in 2013. At first, they said that about 1 billion accounts had been affected, but after further investigation, the actual number was much worse: 3 billion compromised accounts. Almost their entire user base.

Another massive incident occurred in March 2018, when Aadhaar, India's national identification system, leaked the personal information of more than 1.1 billion people. Virtually the entire population of the country was exposed.

In total, experts estimate that nearly 2.9 billion personal records have been compromised in these major breaches. These figures remind us how important it is to protect the information we share.

Main causes of data loss in 2024

Although we do everything possible to protect information, data loss continues to occur... and a lot. These were the most common causes last year:

1. Hardware failures (44%): Problems with hard drives, power outages, or power surges continue to be the most frequent culprits.

2. Human error (32%): Sometimes, a simple click in the wrong place can result in the deletion or overwriting of important files.

3. Software problems (14%): Poorly executed updates, system errors, or conflicts between programs also cause unexpected losses.

4. Malware and ransomware (7%): Although less frequent, virus attacks and data hijacking continue to wreak havoc.

5. Natural disasters (3%): Floods, fires, or earthquakes are not the first things that come to mind, but when they occur, they can destroy everything in their path.

    

How do companies back up their data today?

To avoid unpleasant surprises, many companies have adopted different ways of backing up their information. These are the most common:

1. Cloud backup (59%): This is the most popular option. Basically, data is stored on third-party servers that are available online, allowing access from anywhere and any device. Ideal for companies with remote teams or those looking for flexibility.

2. Hybrid backup (52%): Combines the best of both worlds: cloud and local storage. This provides an extra layer of security in case one of the options fails.

3. On-premises backup (22%): Although no longer as common as before, some companies still store their data on physical devices such as hard drives, their own servers, or USB drives. It's quick and straightforward, but less useful in the event of disasters or theft.

Read more: What is a hybrid cloud backup and how does it work?

Conclusion

Data loss isn't just something that happens in movies or to large companies. It can happen to anyone, from small family businesses to independent professionals. And when it does happen, the impact is real: loss of income, angry customers, and even legal problems.

That's why, in this article, we review key statistics that make it clear how often these situations occur and how important it is to be prepared. Understanding the risks is the first step, but what really makes a difference is taking action.

That's where TecnetProtect comes in, a solution designed to help you prevent data loss, detect threats, and keep your information secure. Not only does it automatically and securely back up your data (in the cloud or locally), but it also monitors the use of information within your organization to detect anomalous behavior, prevent confidential data leaks, and protect you against unauthorized access.

With its proactive approach, TecnetProtect allows you to set up smart policies that control how and where information moves, block suspicious activity, and prevent leaks before they become a crisis. This includes everything from ransomware protection to monitoring the use of external devices and access to sensitive files. Because taking care of your data shouldn't be an option. It should be part of your daily routine.