The Rising Cost of Cyberattacks: Trends and Impacts across Industries
Cybersecurity incidents have escalated sharply since 2020, exposing organizations to mounting financial and operational risks. This study quantifies multi-year trends in five major attack classes, calculates the compound annual growth rate (CAGR) of breaches, and evaluates how targeted security spe...
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| Format: | Article |
| Language: | English |
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Ital Publication
2025-06-01
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| Series: | HighTech and Innovation Journal |
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| Online Access: | https://hightechjournal.org/index.php/HIJ/article/view/1175 |
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| author | Saif Al-Deen H. Hassan Ali Abulridha Rasheed Alaa Abdulshaheed Mousa Zahraa Abed Hussein Bhavna Ambudkar |
| author_facet | Saif Al-Deen H. Hassan Ali Abulridha Rasheed Alaa Abdulshaheed Mousa Zahraa Abed Hussein Bhavna Ambudkar |
| author_sort | Saif Al-Deen H. Hassan |
| collection | DOAJ |
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Cybersecurity incidents have escalated sharply since 2020, exposing organizations to mounting financial and operational risks. This study quantifies multi-year trends in five major attack classes, calculates the compound annual growth rate (CAGR) of breaches, and evaluates how targeted security spending mitigates losses across eight industries. Secondary data were extracted from authoritative sources (IBM, ENISA, and Ponemon). Descriptive statistics charted incident growth; Pearson correlation assessed the linkage between phishing volume and breach frequency; ordinary least-squares regression measured the effect of network, infrastructure, and identity-access investments on breach counts. Breaches rose at a 28.3% CAGR from 2020 to 2023. Healthcare incurred the highest mean cost per incident (USD 10.9 million in 2023). Phishing volume strongly correlates with breaches (r = 0.97, p < 0.05), while greater outlays on network and infrastructure security were significantly associated with lower breach rates (β = –0.18 and –0.22, respectively; p < 0.05). Unlike prior sector-specific studies, our cross-industry analysis blends global data with inferential modelling, producing actionable benchmarks that help decision-makers allocate limited cybersecurity budgets where they reduce risk most.
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| format | Article |
| id | doaj-art-c47ab3b0fae440eeb13d6bb23efdaf6f |
| institution | Kabale University |
| issn | 2723-9535 |
| language | English |
| publishDate | 2025-06-01 |
| publisher | Ital Publication |
| record_format | Article |
| series | HighTech and Innovation Journal |
| spelling | doaj-art-c47ab3b0fae440eeb13d6bb23efdaf6f2025-08-20T03:42:23ZengItal PublicationHighTech and Innovation Journal2723-95352025-06-016210.28991/HIJ-2025-06-02-011The Rising Cost of Cyberattacks: Trends and Impacts across IndustriesSaif Al-Deen H. Hassan0https://orcid.org/0009-0003-3389-3052Ali Abulridha Rasheed1Alaa Abdulshaheed Mousa2https://orcid.org/0009-0006-8643-7060Zahraa Abed Hussein3https://orcid.org/0009-0001-3945-390XBhavna Ambudkar4https://orcid.org/0000-0001-9744-836XDepartment Business Administrator, College of Administration and Economics, University of Misan, MaysanElectronic Computing Center, University of Misan, MaysanCollege of Dentistry, University of Misan, MaysanAl-Manara College for Medical Sciences, MaysanSymbiosis Institute of Technology, Electronic Computing Center, Pune, Maharashtra Cybersecurity incidents have escalated sharply since 2020, exposing organizations to mounting financial and operational risks. This study quantifies multi-year trends in five major attack classes, calculates the compound annual growth rate (CAGR) of breaches, and evaluates how targeted security spending mitigates losses across eight industries. Secondary data were extracted from authoritative sources (IBM, ENISA, and Ponemon). Descriptive statistics charted incident growth; Pearson correlation assessed the linkage between phishing volume and breach frequency; ordinary least-squares regression measured the effect of network, infrastructure, and identity-access investments on breach counts. Breaches rose at a 28.3% CAGR from 2020 to 2023. Healthcare incurred the highest mean cost per incident (USD 10.9 million in 2023). Phishing volume strongly correlates with breaches (r = 0.97, p < 0.05), while greater outlays on network and infrastructure security were significantly associated with lower breach rates (β = –0.18 and –0.22, respectively; p < 0.05). Unlike prior sector-specific studies, our cross-industry analysis blends global data with inferential modelling, producing actionable benchmarks that help decision-makers allocate limited cybersecurity budgets where they reduce risk most. https://hightechjournal.org/index.php/HIJ/article/view/1175CybersecurityData BreachesHealthcarePhishing AttacksNetwork Security |
| spellingShingle | Saif Al-Deen H. Hassan Ali Abulridha Rasheed Alaa Abdulshaheed Mousa Zahraa Abed Hussein Bhavna Ambudkar The Rising Cost of Cyberattacks: Trends and Impacts across Industries HighTech and Innovation Journal Cybersecurity Data Breaches Healthcare Phishing Attacks Network Security |
| title | The Rising Cost of Cyberattacks: Trends and Impacts across Industries |
| title_full | The Rising Cost of Cyberattacks: Trends and Impacts across Industries |
| title_fullStr | The Rising Cost of Cyberattacks: Trends and Impacts across Industries |
| title_full_unstemmed | The Rising Cost of Cyberattacks: Trends and Impacts across Industries |
| title_short | The Rising Cost of Cyberattacks: Trends and Impacts across Industries |
| title_sort | rising cost of cyberattacks trends and impacts across industries |
| topic | Cybersecurity Data Breaches Healthcare Phishing Attacks Network Security |
| url | https://hightechjournal.org/index.php/HIJ/article/view/1175 |
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