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Although there remains some ambiguity over whether ransomware was employed, the Play ransomware gang later claimed responsibility , alleging that sensitive data, such as payroll records, contracts, tax documents, and customer financial information, was exfiltrated. of revenue in the food and beverage industry by 2027.
By 2027, 75% of employees are expected to acquire or modify technology outside of ITs control, up from 41% in 2022. Ransomware Still Reigns Supreme Ransomware attacks continue to plague organizations globally, and 2024 will be no different. This will be a key area to watch with generative AI expanding its attack surface.
What is the impact of ransomware on organizations? Furthermore, it’s estimated that this sum will increase to nearly $24 trillion by 2027. Based on Ransomlooker, a free Cybernews tool for monitoring the dark web and other hidden areas of the internet, 64% of organizations have already suffered from a ransomware attack.
The cybersecurity market was valued at over $149 billion in 2019 and is projected to reach over $304 billion by 2027, growing at a CAGR of 9.4% from 2020 to 2027. Cybersecurity is big business, reflecting the fact that many of today’s enterprise organizations value data security and invest in it accordingly. This huge size.
A fourth one is slated for release next year, and a fifth one, announced last week, should be available in 2027. Furthermore, only 28% correctly said full CRA compliance begins in 2027. National Institute of Standards and Technology (NIST) last year released three quantum-resistant algorithm standards that are ready to be adopted.
billion by 2027 with a compound annual growth rate (CAGR) of 12.5%. Increasing Ransomware Attacks. Ransomware continues to be one of the biggest and most pressing threats to cybersecurity at the moment. As such, the cost of cybercrime is set to increase with the global cybersecurity market estimated to reach $403.01
Ransomware Attacks: In 2023, a whopping 72.7% of organizations faced ransomware. every year until 2027, pointing to rapid progress and investment in AI-based security. With cyber crimes on the rise and attacks like phishing and ransomware becoming more common, we need to stay alert. million, up 15% in three years.
billion during 2020-2027, with a compound annual growth rate of 16.1%. The exponential surge in the application security market over the forecast period is mainly driven by the increase in the cyber-attacks like phishing and ransomware which have caused severe data and financial losses over the past years. . billion by the end of 2027.
According to Market Data Forecast : “The global patch management market size is forecasted to grow to USD 1.084 billion by 2027 from USD 652 million in 2022, growing at a CAGR of 10.7% between 2022 to 2027.” Generates new MSP revenue streams.
By 2027, the IoT in Healthcare market is expected to reach $290 billion , up from just $60 billion in 2019. Attackers can access sensitive files, patient records, health records, or disrupt critical facilities ability to function via ransomware attacks. How to secure healthcare IoT.
billion by 2027. By preventing attacks, Ponemon reports that organizations realize they save on average anywhere from about $400,000 in the case of a thwarted ransomware attempt to $1.37 Still, these RFPs are primary drivers behind a $167.1 billion global cybersecurity market that’s projected to grow to $326.4
Many organizations have reported that healthcare ransomware attacks have resulted in longer lengths of stays in hospital and delays in procedures and tests that have resulted in poor outcomes including an increase in patient mortality. were reported as victims of ransomware attacks in 80 different incidents. billion by 2027.
By 2027, 75% of employees are expected to acquire or modify technology outside of ITs control, up from 41% in 2022. Ransomware Still Reigns Supreme Ransomware attacks continue to plague organizations globally, and 2025 will be no different. This will be a key area to watch with generative AI expanding its attack surface.
Ransomware attacks will become even more sophisticated and intense in 2024, with more originating via unmanaged or bring-your-own devices, and human operated ransomware attacks. Many attackers will shift their approach from double to triple extortion activities after ransomware attacks.
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