Security News > 2023 > July > Average cost of a data breach reaches $4.45 million in 2023

IBM released its annual Cost of a Data Breach Report, showing the global average cost of a data breach reached $4.45 million in 2023 - an all-time high for the report and a 15% increase over the last 3 years.

Data breaches disclosed by the attacker cost nearly $1 million more on average compared to studied organizations that identified the breach themselves.

According to the 2023 report, studied organizations that fully deploy security AI and automation saw 108-day shorter breach lifecycles on average compared to organizations not deploying these technologies - and experienced significantly lower incident costs.

The average costs of a studied breach in healthcare reached nearly $11 million in 2023 - a 53% price increase since 2020.

Studied organizations across all industries with a high level of DevSecOps saw a global average cost of a data breach nearly $1.7 million lower than those studied with a low level/no use of a DevSecOps approach.

Critical infrastructure organizations studied experienced a 4.5% jump in the average costs of a breach compared to last year - increasing from $4.82 million to $5.04 million - $590K higher than the global average.

News URL

https://www.helpnetsecurity.com/2023/07/24/ibm-cost-data-breach-report-2023/