Study Highlights Prevalence of Device Theft and the Impacts on Businesses in U.S. and Europe

Survey of 1,000 IT Decision Makers Finds that Security Locks are Cost-Effective Solutions for Securing Devices and Mitigating Potential Data Breaches

BURLINGAME, Calif.--(BUSINESS WIRE)--A recent survey of IT decision-makers in the U.S. and Europe found that 76% have been impacted by incidents of device theft in the past two years. The study, which was conducted by market research firm, Vanson Bourne, on the behalf of Kensington, a worldwide leader of desktop computing and mobility solutions for IT, business, and home office professionals, highlighted the impacts on the business operations caused by the device thefts and resulting data breaches.

The study, which surveyed 1,000 IT decision-makers representing a variety of industries, revealed that device thefts resulted in significant financial and productivity impacts on their organizations:

• 30% reported increased insurance costs due to repeated device theft;
• 33% were subjected to legal or regulatory consequences due to compromised data;
• 30% suffered financial losses due to the need to replace devices;
• 32% reported disruption to employee productivity.

Data breaches emerged as the top concern in the study with 46% of the participants reporting they have experienced a data breach as a direct consequence of an unsecured device. According to the IBM Cost of a Data Breach Report 2024, the global average cost of a data breach is $4.88 million USD, up 10% from 2023. In organizations that reported experiencing a data breach or loss of sensitive data in their organizations due to an unsecured device, 60% of the organizations were not using security locks, compared to 38% who were.

While the study found that data breaches resulting from stolen or unsecured devices, such as laptops, desktops, tablets, and external storage devices, were the most concerning vulnerabilities to senior IT decision-makers, data loss resulting from insufficient digital security measures was also of concern:

• 43% expressed concern about unauthorized access to company data on devices;
• 23% worry about visual hacking (i.e. sensitive information being viewed in public spaces);
• 22% stated concern about the loss of sensitive data due to insecure home networks.

Nearly all survey participants (97%) recognize the critical role physical security locks play in helping to prevent the theft of devices and the unauthorized access that often results. With the adoption of flexible working models by organizations of all sizes, devices are increasingly exposed to theft and accidental exposure as workspaces have moved from controlled office environments to home offices and public spaces.

The whitepaper detailing the results of the study, titled “Secure Your Device, Protect Your Data,” and information about Kensington’s extensive portfolio of security solutions is available on the Kensington website.

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About Kensington

Kensington is a leading provider of desktop and mobile device accessories, trusted by IT, educators, business, and home office professionals around the world for more than 40 years. Kensington strives to anticipate the needs and challenges of the ever-evolving workplace and craft professional-tier award-winning solutions for organizations committed to providing peak professionals the tools they need to thrive. The company prides itself as the professionals’ choice, and on its core values surrounding design, quality and support.

In office and mobile environments, Kensington’s extensive portfolio of award-winning products provide trusted security, desktop productivity innovations, professional video conferencing, and ergonomic well-being.

Headquartered in Burlingame, California, Kensington is the inventor and a worldwide leader in laptop security locks. Kensington is a division of ACCO Brands, the Home of Great Brands Built by Great People, which designs, manufactures and markets consumer and end-user products that help people work, learn and play. In addition to Kensington^®, ACCO Brands’ widely recognized brands include AT-A-GLANCE^®, Five Star^®, Leitz^®, Mead^®, PowerA^®, Swingline^®, Tilibra and many others. More information about ACCO Brands Corporation (NYSE:ACCO) can be found at www.accobrands.com.

Kensington^® is a trademark of ACCO Brands. All other registered and unregistered trademarks are the property of their respective owners.

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