Average cost of industrial data breaches soars

In 2024, the average cost of a data breach skyrocketed to $4.88 million, up from $4.45 million in 2023, showing a 10 percent spike and the highest increase since the pandemic. Some industries though have seen even bigger increases. Data from a Stocklytics survey of 604 organizations across 17 industries and in 16 countries between March 2023 and February 2024 shows the industrial sector has seen the biggest data breach cost growth in the past year. In 2024, the average data breach cost reported by companies in this sector amounted to $5.56 million, the third-highest figure behind the healthcare and… [Continue Reading]