40+ Data Privacy Statistics for 2024
In an age where data is often referred to as the new oil, safeguarding personal information has become an essential facet of our digital lives. With a sprawling digital ecosystem and a constant exchange of data, the concept of privacy is continually redefined.
In this article, we present data privacy statistics that provide insight into how businesses and consumers handle this sensitive issue. This comprehensive review discusses data breaches, artificial intelligence and privacy concerns, and the alarming extent of data tracking by apps. Now that we have taken a moment to reflect on data privacy, buckle up and prepare for a retrospective!
Editor’s Picks
- 63% of consumers globally believe companies aren't transparent about their personal data use, and about 48% have ceased purchasing from companies due to privacy concerns.
- According to only 20% of consumers, companies that publicize their consumer privacy interests are trusted; meaning consumers want action rather than just statements.
- As per a survey conducted in France, the UK, Germany, and the US, consumers are most concerned about their financial/banking information (78%), followed by security data (75%) and identity data (70%). Medical data (61%) and contact data (57%) follow the priority list.
- Companies that do not ask for information unrelated to their product are trusted by 52% of consumers, while companies that respond quickly to hacks and breaches are trusted by 50%.
- Alarmingly, the University of Maryland researchers discovered that internet-connected computers are attacked by hackers every 39 seconds on average.
- Every day, 1 in 4 Americans are asked to agree to a privacy policy.
Consumer Trust and Data Privacy
- 61% of individuals who are active about their privacy are under the age of 45.
- 62% of Americans believe companies collecting their data is necessary for everyday life. In regards to the government, 63% said the same.
- According to CISCO 2022 Consumer Privacy Survey, 79% of respondents stated that it is too hard for them to understand how companies use their data.
- On the other hand, 76% of respondents won't buy from a company they don't trust with their data, and 81% believe that how an organization treats personal data indicates how it views and respects its customers.
- 39% of consumers prefer clear information from companies about data use, while 43% believe that lack of transparency makes it difficult to protect their data effectively.
- 58% of consumers read privacy notices before accepting them, and 46% of home listening device owners turn off their devices regularly to safeguard their privacy.
- In 51% of consumers, switching to "private" or "incognito" mode in their browser is a way to hide their online activities.
- 60% of consumers say they'd spend more money with a brand they trust with their personal information.
- According to Norton 2022 Cyber Safety Report, 26% of adults enabled multi-factor authentication on select accounts/devices.
Data Privacy and AI
- 40% of consumers see AI as a beneficial tool for improving their lives, while 72% believe organizations must use AI ethically and responsibly. (CISCO)
- A noteworthy 92% of respondents feel their organization needs to reassure customers that their data is used only for legitimate purposes when AI is involved (CISCO)
- Giving consumers opt-out options where AI is used was recommended as a top approach by 36% of survey respondents. (CISCO)
Suggested Reading: Is AI Cybersecurity's Greatest Asset or Threat?
Taking the Opposite Road - A Corporate Perspective
According to CISCO Data Privacy Benchmark Study 2023:
- 95% of respondents recognize privacy as a business necessity, up from 90% last year.
- 94% believe their customers won't buy from them if data isn't properly protected, an increase from 90% in the previous year.
- Encouragingly, 36% of organizations report a return on privacy investments that's at least twice their spending, suggesting that privacy protection can be a sound financial investment.
- 80% of companies store sensitive data in the cloud.
- MFA is used by 69% of companies. Cloud backups are used by 63%, while encryption is used by 62%.
Suggested Reading: Identity and Access Management (IAM) Best Practices for Cloud Security
- It is estimated that the average organization gets 1.8 times more value from data privacy than it spends. Thirty-six percent (36%) of organizations are getting returns at least twice their spending, with many getting returns of three to five times their investment.
Data Localization and Trust
- An overwhelming majority (88%) of consumers believe their data is safer when stored within their country or region.
- Despite this, 90% of respondents also believe a global provider can better protect their data than local providers.
- Trustworthy data handling could yield financial benefits for companies, with 60% of consumers willing to spend more with brands they trust.
Data Breaches: An Unwanted Reality
- There were 1,774 data breaches in 2022 with 422 million people affected by an average of 4.8 daily breaches.
- A concerning 33% of global consumers have experienced a data breach.
- 44% of data breaches include customer names, email addresses, and passwords
- In 2022, the average cost of a data breach was a staggering $4.35 million worldwide.
- When comparing breaches with and without remote work, the average cost of a breach with remote work was an additional $1.07 million.
- 11% of companies took up to 6 months, and a further 5% took a year to inform consumers about a data breach.
The Legal Landscape and Consumer Actions
- Globally, 71% of countries have data privacy legislation in place, with only 15% lacking any such legal framework.
- In the US, 66% of consumers advocate for GDPR-like privacy laws.
- Notably, 64% of consumers clear their cookies and browser histories as a privacy protection measure.
- Approximately $12 billion worth of personal information is protected under the California Consumer Privacy Act each year.
A Hidden Threat - Apps
- There are 55.2% of apps on Google Play that share user data.
- 72.6% of iOS apps track private user data, while 44% of free iOS apps collect user data.
- A free app is four times more likely to track user data than a paid app.
- Just 18% of US social media users feel Facebook protects their data and privacy.
- More than 80% of US voters support the American Data Privacy and Protection Act measures, emphasizing user consent and stricter regulations for minors' data collection.
- The average number of user data points tracked by social media and food delivery apps is 20. The average number of data points collected by shopping apps is 18, while the average number of data points collected by dating apps is 16.
Wrap-up
In the face of these statistics, it's clear that data privacy is a pivotal issue for both consumers and businesses. While awareness about privacy is increasing, there's still a significant gap between perception and practice. Despite technological advancements, data breaches remain a real threat, underlining the importance of robust privacy legislation and ethical business practices. A collective commitment to transparency, ethical data use, and proactive protection measures can help bridge the gap and build a more secure digital landscape.
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