In today’s digital age, the importance of data security and privacy has become paramount.
With the increasing amount of sensitive data stored on devices and in the cloud, the risk of data breaches and cyber attacks has also grown. Therefore, the proper destruction of data has become a critical aspect of data security.
This article will explore statistics related to data destruction and highlight the importance of secure data destruction practices.
Key Data Destruction Statistics 2023 – MY Choice
- In 2020, the global data destruction market was valued at USD 4.8 billion and is expected to reach USD 6.9 billion by 2025, growing at a CAGR of 7.4%.
- According to a survey conducted by Blancco Technology Group, 67% of organizations have experienced a data breach due to the improper disposal of IT assets.
- The average cost of a data breach in the United States in 2020 was $8.64 million.
- In 2020, the healthcare industry was the most targeted by cybercriminals, accounting for 45% of all data breaches.
- According to a study conducted by IBM, it takes an average of 280 days to detect and contain a data breach.
- In a survey conducted by Shred-it, 39% of small business owners said that they do not have a formal protocol in place for disposing of confidential paper documents.
- The National Institute of Standards and Technology (NIST) recommends that hard drives be overwritten with random data at least three times in order to securely erase them.
- According to a survey conducted by the Ponemon Institute, 71% of IT professionals believe that their organization is vulnerable to insider threats.
- In 2020, the most common type of data breach was phishing attacks, accounting for 36% of all incidents.
- The European Union’s General Data Protection Regulation (GDPR) imposes fines of up to €20 million or 4% of a company’s global revenue for non-compliance with data protection regulations.
Data Destruction Statistics
Now that we’ve explored some of the most popular types of data destruction methods, let’s take a look at some statistics related to data destruction:
- In 2019, the global data destruction market was valued at $2.2 billion and is projected to reach $4.9 billion by 2027, growing at a CAGR of 10.2%.
- According to a survey by Blancco Technology Group, 48% of businesses are only relying on basic deletion methods, such as formatting or deleting files, to destroy data.
- The same survey found that 29% of businesses do not have a formal data destruction policy in place.
- In a survey by Ponemon Institute, 53% of businesses reported at least one data breach caused by insecure disposal of old hardware.
- According to the same Ponemon Institute survey, only 36% of businesses have a policy in place for disposing of end-of-life hardware.
- In a survey by the National Cyber Security Alliance, only 15% of small businesses reported having a plan in place for handling and disposing of old devices.
- In 2020, the average cost of a data breach was $3.86 million.
- The same study found that the average cost per lost or stolen record containing sensitive information was $146.
- According to a report by IBM, the average time to identify and contain a data breach is 280 days.
- The same report found that companies with an incident response team in place can save an average of $2 million on the total cost of a data breach.
Data Destruction Methods
There are various methods for destroying data securely, including physical destruction and digital methods. Here are some statistics related to data destruction methods:
- According to a survey, 48% of businesses dispose of hard drives by simply erasing them or throwing them away.
- 34% of businesses use a third-party vendor for hard drive destruction.
- The most popular method of hard drive destruction is shredding (58%), followed by degaussing (26%) and crushing (16%).
- 46% of businesses that use shredding as a method of hard drive destruction outsource the task to a third-party vendor.
- Only 4% of businesses that use shredding as a method of hard drive destruction do it in-house.
- 53% of businesses use software wiping as a method of digital data destruction.
- 27% of businesses use physical destruction methods for digital data destruction.
- 20% of businesses use a combination of physical destruction and software wiping methods for digital data destruction.
- According to a survey, 61% of businesses use a third-party vendor for digital data destruction.
Data Destruction Best Practices
Proper data destruction practices involve more than just physically destroying a hard drive or wiping data with software. Here are some statistics related to data destruction best practices:
- There are various regulations in place to ensure proper data destruction, including HIPAA, FACTA, and GDPR.
- Non-compliance with data destruction regulations can result in significant fines and legal action.
Risk of Data Breaches
- According to a survey, 40% of data breaches are caused by physical loss or theft of devices.
- The cost of a data breach in 2020 averaged $3.86 million.
- 70% of data breaches are caused by external threats, while 30% are caused by internal threats.
- Proper data destruction practices can mitigate the risk of a data breach.
- E-waste is the fastest-growing waste stream, with 50 million metric tons produced each year.
- Only 17% of e-waste is recycled, while 83% ends up in landfills or incinerators.
- Proper data destruction practices can help reduce the amount of e-waste generated.
Data Destruction Industry Trends
The data destruction industry is constantly evolving. Here are some statistics related to industry trends:
- According to a survey, 81% of businesses outsource data destruction tasks to third-party vendors.
- The global data destruction market is expected to reach $14.82 billion by 2025.
- The most recognized certification for data destruction vendors is the National Association for Information Destruction (NAID) certification.
- 74% of businesses that outsource data destruction require vendors to have NAID certification.
- The use of artificial intelligence (AI) and machine learning (ML) in data destruction is expected to increase in the coming years.
- AI and ML can be used to identify and classify data before destruction, making the process more efficient and effective.
Data destruction is a crucial aspect of protecting sensitive information and preventing data breaches. As we’ve seen from the statistics above, many businesses are not taking data destruction seriously enough, putting themselves and their customers at risk.
By implementing proper data destruction policies and methods, businesses can ensure that their sensitive information is properly destroyed and that they are protected from the costly consequences