- 76% of IT decision-makers in the U.S. and Europe have experienced device theft incidents in the past two years.
- The average global data breach costs $4.88 million, a 10% increase from 2023.
- Security locks are highlighted as a cost-effective solution to mitigate data breach risks.
A recent survey conducted by Vanson Bourne on behalf of Kensington reveals that a staggering 76% of IT decision-makers across the U.S. and Europe have faced device theft in the past two years. Such incidents have led to considerable financial and operational disruptions for businesses.
The study, which gathered insights from 1,000 IT decision-makers, highlights that 30% of businesses reported higher insurance costs due to frequent device thefts. Meanwhile, 33% encountered legal or regulatory challenges owing to compromised data, and 30% faced financial losses from replacing stolen devices. Additionally, 32% of organizations experienced a dip in employee productivity.
Data breaches remain a critical concern, with 46% of participants reporting breaches directly linked to unsecured devices. According to the IBM Cost of a Data Breach Report 2024, the global average cost of such breaches has surged to $4.88 million USD, reflecting a 10% rise from the previous year.
The study underscores the effectiveness of security locks in reducing breach risks. Among organizations that suffered data breaches, 60% did not employ security locks, compared to 38% who did, indicating the protective value of these devices.
With the shift towards flexible working models, devices are increasingly vulnerable to theft and unauthorized access outside traditional office settings. Consequently, 97% of survey respondents recognize the importance of physical security locks in preventing device theft and securing sensitive information.
Kensington, a division of ACCO Brands (ACCO, Financial), continues to be a leader in providing innovative security solutions to safeguard digital assets in ever-evolving work environments.
