Every business in every industry is susceptible to cyberattacks, but some industries are at higher risk than others. According to a study by data collection company SOAX, the healthcare industry is the most vulnerable sector in the United States.

The study, which analyzed data from the Identity Theft Resource Center on data violation cases between 2020 and 2023, ranked industries based on the number of incidents reported in 2023. The findings reveal a significant rise in cyberattacks across various sectors (see chart below for the list of Top 10).

Healthcare suffers the most by cyber attacks

As stated. healthcare is the most targeted industry, according to the study, experiencing a 136% increase in data violation cases from 2022 to 2023. With 809 reported incidents in 2023, compared to 343 in the previous year, the sector also suffered the highest number of victims – 56 million individuals.

Financial services followed closely behind, with a 177% surge in cyberattacks. The industry experienced 744 data violation cases in 2023, impacting a 61 million victims, compared to just 269 cases in 2022.

The alarming rise in cyberattacks underscores the urgent need for businesses to prioritize cybersecurity measures, according to SOAX, which also listed cyberattack trends in other major sectors. The professional services industry ranked third with 308 cases in 2023, impacting 30 million victims, representing a 38% increase from the previous year.

No industry is safe from cyberattacks

“The study has identified a concerning sharp rise in cyber incidents across all U.S. industries in 2023, which is particularly alarming, especially within the healthcare and financial services industries. These sectors store vast amounts of sensitive information, making them lucrative targets for cybercriminals,” according Stepan Solovev, CEO and co-founder at SOAX,

Manufacturing and education rounded out the top five most vulnerable industries. Manufacturing reported 259 data breaches impacting 5 million victims, while the education sector witnessed a troubling 73% increase in incidents, with 173 cases affecting 4 million individuals.

Solovev added that these sectors and all industries must continue to invest in cybersecurity, including thorough and consistent employee training to ensure that staff stay vigilant against cyber threats.

Industries suffering the least from cyber attacks

The study also identified the industries that experienced the least impact from cybercriminal activities. The human resources and staffing sector is cited by SOAX as the least affected, with just 10 reported data violation incidents in 2023, which affected 239,000 individuals.

Also experiencing a relatively small number of cyber attacks is the social services sector, which saw 15 instances of data breaches in 2023 -- affecting the fewest number of victims -- 193,000 individuals.

 

[caption id="attachment_141958" align="alignnone" width="750"] Data violation cases and victims due to cyberattacks in the U.S. 2023, by industry[/caption]