Cybersecurity compliance statistics

Table of Contents

    John Minnix

    September 6, 2023

    76 Cybersecurity Compliance Statistics for 2024

    The team at Bright Defense compiled a comprehensive list of up-to-date statistics about cybersecurity compliance in 2023. In this article, you’ll find insightful statistics about:

    • Cybersecurity Compliance and Governance Statistics
    • SOC 2 Compliance
    • CMMC Compliance

    Without further ado, let’s see the stats!

    Cybersecurity Compliance and Governance Statistics

    cybersecurity compliance stats

    The global cybersecurity compliance and governance market is huge and growing rapidly. Let’s explore some statistics on the market:

    1. Cyberattacks and breaches will cost the global economy $10.5 trillion annually by 2025. (Cybercrime Magazine)
    2. The average cost per data breach for businesses with fewer than 500 employees is $3.31 million in 2023. (IBM)
    3. In 2020, there were over 700,000 cyber attacks against small businesses with total damages of $2.8 billion. (Allianceswla.org)
    4. IT teams dealt with an average of 52 attacks in 2022. (Rubrik)
    5. 61% of attacks affected SaaS applications, the most targeted platform (Rubrik)
    6. The total addressable cybersecurity market is $1.5 trillion to $2 trillion annually. (McKinsey)
    7. 91% of companies plan to implement continuous compliance in the next five years. (Drata)
    8. 52% of companies reported compliance certification as a top 3 priority for maintaining security. (Vanta)
    9. The cost of business disruption, productivity losses, revenue losses, and fines is 2.71 times the cost of compliance. (HelpSystems)
    10. The average cost of a data breach was $4.45 million in 2023, an increase of 15% over the previous three years. (IBM)
    11. 48% of global organizations observed a ransomware attempt against them. (Rubrik)
    12. Phishing is the to attack tactic with 56% of malicious actors using phishing to launch ransomware. (Fortinet)
    13. 80% of organizations had at least one employee fall victim to a phishing attempt. (Fortinet)
    14. 15% of global organizations experienced an encryption event that required data restoration. (Rubrik)
    15. 82% of breaches involved data stored in the cloud. (IBM)
    16. 75% of respondents think they should improve their cybersecurity. (Vanta)
    17. 58% of organizations say employees ignore their cybersecurity policies. (TechBeacon)
    18. 61% of respondents expect to increase their compliance expenditure over the next two years (Accenture)
    19. 69% of companies say regulatory compliance is the primary security spending driver. (TechBeacon)
    20. The total addressable governance, risk, and compliance (GRC) market is $50 to $100 billion. (McKinsey)
    21. 44% of organizations say that risk assessment and audit are the biggest cloud compliance challenges. (TechBeacon)
    22. The global enterprise governance, risk, and compliance (eGRC) market was valued at $47.22 billion in 2022. It is projected to grow at a compound annual growth rate of 13.8% through 2030. (Grand View Research)
    23. The small to medium enterprise market is expected to have the highest growth rate of any segment in the eGRC space through 2030. (Grand View Research)
    24. 20% of startups have no security roadmap. (Vanta)
    25. 27% of startups are not managing compliance. (Vanta)
    26. 51% of small businesses have no cybersecurity measures in place. (Allianceswla.org)
    27. 29% of companies have no visibility over third-party cyber risks. (TechBeacon)
    28. 43% of cyberattacks are aimed at small to medium businesses, while only 14% of SMBs are prepared to defend themselves. (TechTarget)
    29. North America accounted for 31.6% of global eGRC revenue in 2022. (Grand View Research)
    30. 66% of companies say that compliance mandates are driving spending. (Varonis)
    31. 41% of companies report an increasing compliance budget, while 17% report budget cuts. 42% of companies expect the same compliance budget in 2023 as in previous years. (Clausematch)
    32. 9 out of 10 respondents expect compliance-related costs to increase by up to 30% over the next two years. (Accenture)
    33. 61% of small businesses were the target of a cyberattack in 2021. (Allianceswla.org)
    34. 46% of all cyber breaches are with businesses with fewer than 1,000 employees. (Allianceswla.org)
    35. Global spending on cybersecurity training will reach $10 billion in 2027. (TechTarget)
    36. The top compliance priorities for 2023 are investing in compliance technology (10%), communicating policies to staff and driving adherence to policies (9%), adapting compliance policies to global laws (9%), and managing risk and vendors (9%), and strengthening cybersecurity (8%). (Clausematch)
    37. 70% of leaders say that improved security and compliance positively impact their business thanks to stronger customer trust and improved reputation. (Vanta)
    38. 41% of companies report that their lack of continuous compliance slows down sales cycles. (Drata)
    39. 41% of those surveyed say closing deals depends on maintaining security. (Vanta)
    40. 57% of respondents are asked to prove their security measures by prospective clients. (Vanta)
    41. 55% of companies have experienced a SaaS security incident. (Security Magazine)
    42. 84% of companies use breached SaaS applications. (The Hacker News)
    43. According to the “SaaS Security Survey Report”, only 7% of companies responded saying they monitor their entire SaaS stack, with 68% saying they monitor less than half. (The Hacker News)
    44. 65% of companies are planning to invest or are open to investing in compliance technology in 2023. (Clausematch)
    45. 66% percent of respondents to a 2022 survey said they expect the cost of compliance staff to increase. (Thomson Reuters)
    46. 62% of organizations feel they are understaffed in terms of cybersecurity professionals. (TechTarget)
    47. There are over 50,000 Chief Compliance Officers employed in the United States. (Zippia)
    48. 93% of respondents agree or strongly agree that technologies like cloud and AI are making compliance easier by automating tasks and eliminating errors. (Accenture)
    49. 48% of respondents are using analytics and big data to improve their compliance function. (Accenture)
    50. 44% of companies require cybersecurity as part of their requests for proposal process. (TheSSLStore.com)
    51. 50% of employees are not aware of their company’s cybersecurity policies and procedures. (TheSSLstore.com)
    52. 40% of companies use only spreadsheets and word-processing applications to manage compliance. (NorthRow).
    53. 75% of organizations spend more than 1,000 hours per year on compliance. (Drata)
    54. Only 17% of small businesses carry cyber liability insurance. (Allianceswla.org)
    55. In 2020, there were over 700,000 cyber attacks against small business with total damages of $2.8 billion. (Allianceswla.org)
    56. The biggest barriers to achieving compliance in 2023 are manual processes, disconnected technologies and legacy systems, limited headcount, and budget restrictions. (Clausematch)
    57. 43% of startups reported security and compliance as a barrier to starting their business. (Vanta)
    58. 74% of MSPs say their clients struggle to meet regulatory compliance requirements. (Kaseya)
    59. 73% of companies have no dedicated security person. (Vanta)
    60. 75% of small to medium businesses could not continue operating if hit by ransomware. (Allianceswla.org)
    61. 87% of companies with a reactive approach to compliance face negative consequences. (Drata)
    62. Legal and compliance department investment in tools for governance, risk, and compliance will increase by 50% by 2026. (Gartner)

    SOC 2 Compliance Statistics

    1. 7% of companies with less than $1M in funding have achieved SOC 2, while 45% of companies with over $100 million in funding have achieved SOC 2. (Hackernoon)
    2. UnderDefense estimates that the total cost of SOC 2 Type 1 preparation and certification is $91,000 for companies with less than 50 employees and $186,000 for companies with 50 to 250 employees. (UnderDefense)
    3. StrongDM estimates that the average total cost of a SOC 2 Type 1 audit in both time and expense is $147,000. (StrongDM)

    CMMC Compliance Statistics

    1. The Cybersecurity Maturity Model Certification (CMMC) affects an estimated 300,000 companies. (Washington Technology)
    2. 80,000 companies will require third-party CMMC assessments in order to win Department of Defense contracts. (Federal News Network)
    3. The average cost of CMMC Level 1 compliance is between $3,000 and $5,000, while Level 5 reaches as much as $482,874. (Cuicktrac.com)

    HIPAA Compliance Statistics

    1. 99% of healthcare organizations say HIPAA compliance is important to their business. (Compliancy Group)
    2. Approximately 95% of the US population had their medical information disclosed between 2009 and 2021. (UpGuard)
    3. Complaints about violations of HIPAA increased 39% from 2017 to 2021. (Fierce Healthcare)
    4. Organizations were forced to take corrective action or pay penalties in 83% of cases of HIPAA violations in 2021. (Fierce Healthcare)
    5. As of May 31st, 2023, total HIPAA fines total $135,223,772. (HHS.gov)
    6. 60% of respondents in the healthcare industry were not confident they would pass a HIPAA audit. (Compliancy Group)
    7. 75% of surveyed healthcare services say their cybersecurity infrastructure is unprepared for cyber threats. (UpGuard)
    8. Only 34% of respondents had fully documented their HIPAA Compliance. (Compliancy Group)

    Bright Defense Delivers Compliance Solutions!

    If you are struggling with cybersecurity compliance challenges, Bright Defense can help. Our mission is to protect you from cybersecurity threats through continuous compliance.

    Our monthly engagement model delivers a robust cybersecurity program that allows you to meet compliance frameworks, including SOC 2, HIPAA, and CMMC. Once compliance certification is achieved, we constantly enhance your security program to keep up with the evolving threat landscape and compliance standards. Our compliance automation toolset gives you complete visibility into your compliance status while saving you time and money.

    Ready to get started? Contact Bright Defense today!

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