The potential risk in brand value of a data breach to the world’s 100 most valuable brands could amount to as much as $223 billion, according to a cybersecurity and brand value impact report jointly put out by Infosys and Interbrand.
To quantify the risk, the study identified brand factors such as presence, affinity, and trust as the most impacted when a company suffers a data breach and then factored the brand value at risk in the event of a breach. The study also found that industries such as technology, financial services and automotive might suffer a higher overall brand value at risk from data breaches, whereas luxury brands and consumer goods face greater value at risk as a percentage of their net income.
The report also quantified the brand value risk different industries face because of a data breach. For instance, brand value risk of technology sector was up at $ 29 billion which is 53% of the sector's net income in 2020; financial services $2.6 billion, some 52% of last year's net income; automotive $4. 2 billion, 77% of net income; consumer goods $ 5 billion, 114% of net income and luxury's brand value risk was estimated at $2.4 billion, some 115% of the sector's net income in 2020.
Published - March 09, 2021 10:56 pm IST
