20+ Data privacy statistics you need to know in 2024

In today's digital world, the increasing reliance on the internet has created problems regarding the protection of shared personal data. Data breaches and data theft have become widespread and threaten internet users. Data privacy is an issue that both consumers and companies should emphasize and raise awareness of.

Ensuring data privacy will not only ensure the safety of your customers but also protect your company's reputation and increase your brand awareness. In this article, we have prepared 20+ personal data privacy statistics. You will learn and effectively implement the measures you must take to protect your customers' data, thanks to data breach statistics. Let's move on to our article with the definition:

Importance of data privacy

Compliance with data privacy standards is a legal obligation for companies. Companies that do not take the necessary measures to comply with data privacy standards are subject to heavy fines. In addition, businesses that provide data privacy to their customers as they should will gain their customers' trust. Some of the benefits of data privacy for your company and your customers are as follows:

Importance of data privacy

20+ Eye-opening data privacy statistics

The transparency you offer to your customers in the data processing process will show the value you give them and increase customer loyalty. With 20+ consumer data privacy statistics, you will learn everything you need about the subject. Our healthcare data privacy statistics will help you understand the topic in detail. Now, let’s move on to our statistics:

1. Company owners will prioritize data privacy if customer loyalty increases.

Growing concerns about data breaches have brought new data protection methods. Statistics published by Termly show the relationship between data protection and customer trust.  91.1% of business owners would emphasize data privacy if they knew it would boost customer trust and loyalty.

Showing customers that their data is effectively protected provides companies with the opportunity to increase customer satisfaction and loyalty. Therefore, you should pay attention to data privacy to ensure that your customers trust you and stay ahead of your competitors in the industry.

2. According to 81% of respondents, data collection by companies has more risks than benefits.

The Pew Research Center found that the vast majority of internet users do not trust companies and the government to protect their data. 81% of respondents believe there are more risks than advantages associated with data collection by companies. Moreover, 66% feel the same way regarding data collection by the government.

People are becoming increasingly aware of the importance of protecting personal data. Therefore, they prefer companies that pay attention to data protection and privacy. Taking the necessary measures to protect personal data will increase your company's sales.

3. Companies in the United States and the United Kingdom are concerned about being targeted by privacy law enforcement.

Not taking the necessary measures to ensure data privacy carries a significant risk for companies. According to Statista, 25% of US and UK companies expressed serious concerns about their company being the target of privacy law enforcement. An additional 35% expressed concern over cybersecurity incidents and data breaches.

Providing data privacy helps companies protect their reputations and build customer trust. In addition, it can prevent major financial sanctions. Therefore, data privacy is an issue that companies should focus on. Taking necessary precautions against data breaches will protect companies and customers against negative consequences.

4. The cost of a data breach has increased over the last three years.

If you are curious about the average data breach cost last year, you should look at the statistics published by IBM. The average data breach cost in 2023 was 4.45 million dollars globally, representing a 15% increase over the previous three years.

As you can see from this statistic, the cost of a data breach has increased over the last three years and has become a serious expense for companies. Companies can avoid these costs by taking the necessary measures to protect personal data.

5. Data protection procedures have become part of the daily life of internet users.

Data privacy policies and the measures taken in this regard have become indispensable in individuals' daily internet use. Privacy Pillar found that 25% of Americans are asked to consent to a data privacy policy daily. Among the reasons for this is the desire of companies to avoid data breach sanctions.

You can also see from this statistic that consumers and organizations are becoming more aware of data privacy and protection. The awareness of companies and consumers on this issue is vital in ensuring the security of personal data and protecting the reputation of companies.

6. Most company owners recognize the need to improve their data protection methods.

Complying with legal procedures to ensure data privacy is essential for companies to avoid criminal penalties and protect their customers. According to KPMG, 62% of business leaders believe that their companies should do more to strengthen existing data protection practices.

In many businesses, the measures taken to ensure data security are insufficient, and this jeopardizes the personal data of customers. Using authentication methods and educating employees on data privacy are some measures businesses will take in this regard.

7. More than half of the people surveyed experienced cyber-attacks last year.

The rate of exposure to cyber-attacks is much higher than thought. 53% of Netwrix survey respondents suffered a cyberattack within the past year. This statistic indicates that the measures taken to ensure data security must be increased and effectively implemented.

Measures taken for data privacy not only protect the personal data of your customers but also protect your company's reputation and prevent you from experiencing financial damage. Therefore, measures such as multi-factor authentication to ensure data security will be vital for your company.

8. It is possible to collect data for marketing while protecting personal data.

Businesses should consider the security of information when using potential customers' personal information for marketing purposes. Termly found that a significant 94.1% of companies think it is possible to achieve a balance between collecting data for marketing purposes and protecting customer privacy.

Ensuring the data privacy of their customers enables companies to avoid criminal sanctions and protects their reputations. Companies that collect and process their customers' sensitive data transparently and prioritize privacy when collecting data will achieve customer satisfaction. Therefore, you should improve your methods of implementing data privacy.

9. Most internet users think companies are not transparent about data usage.

The research conducted by Tableau Public makes it clear that companies that do not ensure data security will lose customers. 63% of internet users think most businesses aren't transparent about how their data is used. Furthermore, due to privacy concerns, 48% of consumers no longer shop with a company.

The fact that almost half of the respondents stated that they would not shop from brands that don't ensure data security is alarming for companies. Ensuring consumers’ data security and protecting their sensitive information, such as their social security numbers, is a big reason that potential customers choose you.

10. 79% of Americans don't trust companies to admit their mistakes about misusing personal information.

The Pew Research Center's research provides an eye-opening statistic on data privacy. According to 79% of Americans, they have little to no confidence that businesses will own up to their mistakes and accept responsibility if they misuse personal data.

Companies should take all necessary measures to ensure the data privacy of their customers and protect their personal data. In this way, the reputation of companies will be positively influenced and preferred by potential customers. Fulfilling your company's responsibilities for data protection will protect both the company and your customers.

11. 94% of business respondents said their customers would not buy from them if their data weren't protected.

The statistic published by Enzuzo expresses the importance of data privacy for today's consumers. 94% of business respondents claimed their clients would not buy from them if their data were insecure. Ensuring data privacy is one of the factors affecting consumers' shopping decisions.

Taking the necessary measures to ensure data privacy not only enables you to fulfill your legal obligations in this regard but also ensures customer satisfaction. Thanks to the positive feedback you receive from your customers, your sales will increase, and your company will grow.

12. 30% of US consumers are unwilling to share personal information.

Increased cyber-attacks and frequent data breaches make internet users reluctant to share data. KPMG's research provides you with valuable data in this regard. They found that 30% of consumers in the United States are unwilling to share their personal data for any purpose.

Data sharing is essential for companies to direct their marketing activities better and use their budgets effectively. For this reason, you can increase your sales by making customers feel safe about protecting their data. Taking the necessary data privacy precautions will keep you and your customers safe.

13. Companies are increasingly taking precautions for data privacy.

Statista's useful statistics show that the importance companies attach to data privacy and protection is undeniable. According to Statista’s survey, seven out of ten companies have selected an internal manager or owner to lead and implement data privacy measures.

The devastating consequences of data privacy violations force companies to take necessary precautions in this regard. You should always prioritize data protection and take the necessary steps to maintain customers' trust and give potential customers a reason to prefer your company.

14. Most business owners say that data privacy is critical for their business.

Protecting their customers and ensuring transparency in data processing should be a priority for companies. Cisco found that 95% of respondents stated that data privacy is a critical part of their business. Companies that want to comply with data protection laws and ensure customer loyalty put data privacy at the center of their operations.

Organizations paying attention to protecting their customer's personal data and digital footprints keep them safe from potential breaches and data theft. Companies that are committed to ensuring the data security of their customers will increase their sales and be successful as they will gain the trust of their customers.

15. 34% of smartphone owners are concerned about their personal data privacy.

Smartphones and social media have become a huge part of people's lives worldwide. However, this situation also raises concerns about the privacy of personal data. Digital Information World revealed that 34% of smartphone owners are concerned about how their personal information may be used without their consent.

People commonly share their data on various social media platforms. Therefore, social media companies should take the necessary measures to protect this international data. Thus, possible data breaches will be prevented, and the security of personal data will be ensured.

16. One in two customers expect quick solutions to potential data breaches.

Organizations' steps to ensure data privacy directly affect consumers' trust. Privacy Pillar's statistics prove this. 50% of customers trust firms that respond quickly to security breaches and cyberattacks. Furthermore, 52% trust organizations that do not request information unrelated to their products.

Responding quickly to cyber-attacks and data breaches and taking the necessary measures will increase customer loyalty to your company. In addition, companies that do not try to obtain information unrelated to their products from their customers will also build trust and gain customers. By following these steps on data privacy, you can show that you value your customers and create brand awareness.

17. Nearly 80 percent of company owners said they experienced no negative impact from privacy requirements.

Data privacy requirements are as crucial for companies as they are for consumers. Termly's statistics show what company owners think about data privacy requirements. According to them, 78.1% of business owners stated that they felt no negative impact from privacy requirements.

Data privacy laws and government regulations are implemented to prevent data loss and security incidents such as identity theft resulting from cyber-attacks. They also protect companies from fines by ensuring they comply with data standards. Therefore, you should take the necessary measures to guarantee the security of the data you process in your company.

18. 79% of Americans express concern about how businesses use personal information.

The Pew Research Center has released a statistic that reflects consumers' concerns about data protection. 79% of Americans worry about how businesses use personal data, and 64% say they are concerned about the government. This statistic shows that keeping your customers' data secure will influence their shopping decisions.

Due to widespread awareness of data privacy and the sanctions of data protection laws, companies are obliged to comply with data protection policies. Companies that comply with data protection standards avoid data breach costs and build trust with customers.

19. More than half of the consumers would lose trust in a company after a data breach.

Security Magazine revealed a statistic revealing the link between the privacy of personal data and customers' trust in companies. According to their valuable survey, 66% of customers would lose trust in the organization following a data breach or misuse.

If customers know that their personal information is secure, they can share their user data for marketing purposes without any concerns. This enables companies to use their marketing budgets more effectively and reach their target audience. Practices to protect the privacy of personal data will benefit companies in the long run.

20. AI saves money in ensuring data privacy.

Today, artificial intelligence (AI) stands out in every sector and makes people's work easier. In addition, companies can save money by using AI in data privacy and other areas. IBM proved that organizations that use security AI and automation save an average of 1.76 million dollars compared to those that do not.

Companies investing in new technologies to ensure data privacy will move them forward and save time and labor. In addition, using artificial intelligence in this area will make it much easier for companies to comply with data privacy laws.

How to protect the data privacy

Businesses that do not take the necessary measures to protect their customers' data privacy will be fined for non-compliance with personal data protection regulations. This situation will cause financial damage to businesses and lead to the loss of customers. Therefore, necessary measures should be taken to ensure data privacy. Some of these methods are as follows:

Wrapping it up

Every organization that wants to ensure customer satisfaction and achieve customer loyalty should consider its customers' data privacy. In this article, we have compiled 20+ data privacy statistics to inform you about the topic. The statistics will teach you why data privacy is important and discuss the measures you need to take in this regard.

Now that you know what you need to know about data privacy, you are ready to reassure your customers about protecting their personal data!