In a report, called “The Future of Cybercrime & Security: Financial and Corporate Threats & Mitigation,” Juniper Research estimated that the cost of data breaches for businesses would spike to $2.1 trillion globally by 2019.
The research, released Tuesday, addressed major cybercrime threats to businesses and consumers, as well as how they will evolve over time.
According to a release from Juniper, the $2.1 trillion figure was nearly four times greater than the estimated cost of breaches in 2015. Furthermore, the firm predicts that by 2020 the average cost of a data breach will top $150 million “as more business infrastructure gets connected,” the release said.
Juniper also predicted that, in 2015, almost 60 percent of breaches anticipated globally will happen in North America. And moving forward, organizations worldwide will see fewer hacktivism attacks overall, though the attacks executed would be more successful.