The Cost of a Data Breach Report equips IT, Risk Management and security leaders with quantifiable evidence to help them better manage their security investments, risk profile and strategic decision-making processes. The 2023 edition represents this report’s 18th consecutive year.
The average cost of a data breach reached an all-time high in 2023 of USD 4.45 million. This represents a 2.3% increase from the 2022 cost of USD 4.35 million. Taking a long-term view, the average cost has increased 15.3% from USD 3.86 million in the 2020 report.
Security AI and automation were shown to be important investments for reducing costs and minimizing time to identify and contain breaches.
82% is the percentage of breaches that involved data stored in the cloud—public, private or multiple environments.
Only one-third of companies discovered a data breach through their own security teams, highlighting a need for better threat detection.