Counting the Cost: $9.2 Trillion Annual Impact of Cybercrime Looms

According to a new Statista Market Insights report, cybercrime is rising at an unprecedented pace. Approximately one-third of the United States’ GDP or about 24 times Apple’s annual revenue in 2023 will be incurred as a result of cyberattacks, according to a new survey from Statista Market Insights. A similar study from Statista Market Insights found that cybercrime costs have risen by 245% between 2018 and 2020, increasing from $860 billion to $2.95 trillion. 

With the spread of the pandemic, the cost of health care has more than doubled to $5.49 trillion in 2021 and is expected to increase by $1 trillion annually in 2023 to $8.15 trillion. In addition to impacting businesses and governments, cybercrime has become one of the world’s largest illegal economies, as well as the everyday people of the world. Cyberattacks are known for causing financial losses such as ransom payments, loss of productivity, system downtime and data theft, among others. 

Contributing factors

In terms of attack surfaces, IoT devices are providing cybercriminals with an increasingly large attack surface, increasing the number of potential victims and supplying them with a more relevant attack surface over time. There is no reason for Mac users to be excluded from this. There was an increase of 50% in new Mac malware families in 2023 in Jamf’s report. 

The number of instances of malware that can be found within each of these

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