- Zero trust security could reduce global cyber losses by up to 31%, equating to $465 billion annually.
- North America experiences four times more cyber incidents than Europe, though European events are 41% preventable.
- Companies with over $1 billion in revenue could prevent 60% of cyber attacks through zero trust implementation.
Zscaler (ZS, Financial), a leading cloud security company, has released a report indicating that implementing zero trust security architecture can significantly reduce cyber losses. Based on data from Marsh McLennan's Cyber Risk Intelligence Center, the study estimates that zero trust could slash cyber losses by up to 31%, potentially preventing $465 billion in global economic damage annually.
The report highlights significant regional differences, noting that North America experienced nearly four times more cyber incidents than Europe over the past eight years. However, the findings suggest that European incidents are more preventable through zero trust measures, with a 41% potential mitigation rate compared to 31% in North America.
Companies with annual revenues exceeding $1 billion stand to gain the most from zero trust, with 60% of cyber attacks deemed preventable. The research also points to a startling 126% increase in ransomware incidents over the past year, underscoring the escalating need for robust cybersecurity measures.
Zscaler's Risk360, part of their Zero Trust Exchange platform, assists organizations in assessing cyber risks and streamlining insurance processes by leveraging data from over 50 million devices. This comprehensive risk quantification can help enterprises secure more favorable insurance terms, thereby offering a competitive advantage in the cybersecurity landscape.
