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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.
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.
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. Generative AI Impact : Generative AI will have a big role in cyber security, especially in areas like email protection and fighting socialengineering attacks.
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.
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