From 2021 to 2024, the share of financial institutions worldwide experiencing ransomware attacks has increased significantly. In 2024, roughly 65 percent of financial organizations worldwide reported experiencing a ransomware attack, compared to 64 percent in 2023 and 34 percent in 2021.

A 2024 survey of cybersecurity professionals of organizations worldwide revealed that 32 percent of the organizations suffered ransomware attacks because of exploited vulnerabilities. Credential compromise was the second-most common cause of successful ransomware attacks, while malicious e-mail ranked third.

These latest ransomware statistics show how much damage is caused by attacks and the emerging trends you need to be aware of.

On average, ** percent of organizations worldwide were victims of a ransomware attack between January and February 2024, according to a survey conducted among cybersecurity leaders of worldwide organizations. France ranked first by the ransomware rate in companies, with ** percent reporting having encountered such an attack in the last 12 months. Companies in South Africa, Italy, and Austria followed, with up to ** percent of the organizations experiencing ransomware attacks.

Here are the most important ransomware statistics you need to know about the attacks, demands, payments and consequences that can occur.

Introduction

Notable Ransomware Statistics: Even in the year 2024, ransomware is ranked among the most disruptive and expensive types of cybercrime. This is software that keeps people from accessing their gadgets until they pay an amount, and it keeps getting better with time, while looking for people to pay or companies.

Data as of 2024 indicated that there was an upward trend in the prevalence and economic losses caused by ransomware attacks throughout the world. Emerged are some notable ransomware statistics to consider in the year 2024.

Between the second and third quarters of 2024, the software development sector experienced the highest quarterly increase in the number of ransomware attack, rising by 16.7 percent. Hospitals and healthcare system followed, with a 12.8 percent increase. In contrast, IT services and IT consulting recorded a decline of 9.3 percent in ransomware activity.

While every industry is affected by ransomware attacks, the truth is that some industries are more susceptible than others. This is the full breakdown of the top 15 sectors most targeted by malware.

A 2024 survey of cybersecurity professionals of worldwide organizations revealed that the ***************************** had the highest number of vulnerabilities exploited in ransomware attacks. The survey showed that the second-most common root cause of ransomware attacks was *********************** across all sectors, followed by ****************.

On average, 37% of organisations globally were victims of a ransomware attack between January and February 2021. The top 15 countries that were affected the most were...

Different types of ransomware are more common than others and more likely to affect your cybersecurity. The top 5 most common types of ransomware strains are...

In the third quarter of 2024, Healthcare was the industry in the United States most impacted by ransomware attacks, with 18.6 percent of annual attacks targeting the industry. Consumer services ranked second, with 14.4 percent of the attacks, followed by the public sector, with 11.3 percent.

The following ransomware statistics detail which industries get attacked the most and which countries are most likely to be targeted.

The main goal of any ransomware attacker is to hold people to ransom by not releasing their data until they get paid. But is it actually a good idea to pay the ransom? Here’s what the ransomware statistics tell us about organisations that paid up.

Market Summary of Cyber Security Consulting Market:

• Global Cyber Security Consulting market size 2023 was XX Million. Cyber Security Consulting Industry compound annual growth rate (CAGR) will be XX% from 2024 till 2031. • The Cyber Threats and cyberattacks are driving the cyber-Security consulting the market's rapid growth along with Increase in the need for security in BFSI Sector. • The COVID-19 had presented obstacles for enterprises as they adjust to a work environment where telecommuting has turned into the new normal. Businesses were moving more quickly towards digital transformation, and cybersecurity is becoming a top priority • The dominating segment is the IT and Telecom. Mobile phones, smart IoT devices, data traffic subscribers, and SIM connections have all increased astronomically in the world. Because of this, network operators can now offer a significantly wider range of services, which requires them to handle more data security. • North America is the dominating region in this market due to the prevalence of large and mid-sized organization’s is rising, which is increasing the number of hosted servers and the frequency of cyberattacks.

Market Dynamics of Cyber Security Consulting Market:

Key Drivers of Cyber Security Consulting Market

Cyber Threats and cyberattacks are driving the cyber-Security consulting the market's rapid growth.

The growing threat landscape, which includes data breaches and ransomware assaults, is a major factor in the rise of cybersecurity consulting services. The Internet is becoming more and more popular across all industries as a result of digitization and technical improvements. The likelihood of cyberattacks rises with increased Internet usage. Cyberattacks are a major global threat that result in the loss of personal, corporate, and governmental data. Businesses are always under pressure to make sure their digital assets are safe from internet attacks, and cybersecurity threats are getting more complex. Consulting on cybersecurity is essential for protecting your company from possible dangers and lowering the likelihood of cyberattacks.Hence, These consulting services give companies the knowledge and resources they need to spot security flaws, create strong defences against online attacks, and keep their systems safe. Organisations can discover potential vulnerabilities and threats to their digital assets, such as sensitive information, financial data, and intellectual property, by conducting cybersecurity risk assessments, which is a crucial procedure. For Instance, The cybersecurity company Kaspersky issued a warning, stating that similar cyberthreats are likely to come India's way. The country saw over 200,000 ransomware attacks in 2023. Large ransomware gangs like Fonix and LockBit attacked companies in India and throughout the world in industries like manufacturing, retail, healthcare, agriculture, and media. (Source:https://www.businesstoday.in/technology/news/story/new-ransomware-attacks-still-keeping-indian-cyberspace-at-risk-kaspersky-424512-2024-04-05) Cybersecurity experts detect risks to a company's computer systems and networks, analyse security concerns, determine risk, and put remedies into place. In an IT environment that is evolving quickly, they create layers of protection and deal with a variety of issues while evaluating security systems. Ransomware, phishing, and hacking are examples of cybersecurity threats that have grown in sophistication along with technology. Attacks on servers known as total distributed denial of service (DDoS) cause disruptions to user access. Thus, it is essential to identify cyber threats and use strong cyber security consulting to guard against such breaches in order to implement a system with more robust security features.

Increase in the need for security in BFSI Sector, drives the market for Cyber Security Consulting Market.

Following demonetization, digital payments have become more popular than ever before, underscoring the necessity of security policies and programmes for India's banking, financial services, and insurance (BFSI) industry. While financial institutions worldwide are concentrating on improving their programmes to prevent cyber threats, BFSI institutions continue to fail to recognise the significance and consequences of cyb...

Impact of ransomware incidents on the business or organization over the last 12 months, by North American Industry Classification System (NAICS), business employment size, type of business, business activity and majority ownership, third quarter of 2024.

Here are the leading causes of ransomware attacks today.

Hardware-Based Ransomware Blocker Market Outlook

According to our latest research, the global hardware-based ransomware blocker market size reached USD 1.24 billion in 2024, reflecting a robust demand for advanced cybersecurity solutions. The market is expected to grow at a CAGR of 14.2% during the forecast period, reaching USD 3.45 billion by 2033. This impressive growth is primarily driven by the increasing sophistication and frequency of ransomware attacks, which are compelling organizations across various sectors to adopt hardware-based security mechanisms for enhanced protection and operational resilience.

A key growth factor for the hardware-based ransomware blocker market is the escalating threat landscape, where ransomware attacks have become both more frequent and more damaging. With cybercriminals employing increasingly complex techniques to bypass traditional software defenses, organizations are turning to hardware-based solutions that offer a more robust and tamper-resistant layer of security. These devices operate independently of the host operating system, making them less susceptible to software vulnerabilities and direct malware attacks. The growing awareness among enterprises about the limitations of conventional endpoint security has accelerated the adoption of hardware-based ransomware blockers, particularly in sectors managing critical infrastructure and sensitive data.

Another significant driver is the rising regulatory pressure and compliance requirements imposed by governments and industry bodies. As data breaches and ransomware incidents lead to severe financial and reputational damages, regulatory frameworks such as GDPR, HIPAA, and others are mandating stricter data protection measures. Hardware-based ransomware blockers are increasingly recognized as essential components for achieving compliance, especially in highly regulated industries like healthcare, BFSI, and government. The need to safeguard confidential information and ensure business continuity is pushing organizations to invest in advanced, hardware-level cybersecurity solutions, further fueling market growth.

The proliferation of connected devices and the expansion of digital transformation initiatives across sectors are also propelling the hardware-based ransomware blocker market. As enterprises embrace cloud computing, IoT, and hybrid work environments, the attack surface for ransomware grows exponentially. Hardware-based solutions provide a crucial line of defense, securing endpoints and critical systems against unauthorized access and ransomware payloads. This trend is particularly pronounced in industries with distributed operations, such as manufacturing, logistics, and healthcare, where the risk of ransomware-induced downtime can have catastrophic consequences. The integration of AI and machine learning capabilities into hardware blockers is also enhancing their effectiveness, enabling real-time threat detection and response.

From a regional perspective, North America continues to dominate the global hardware-based ransomware blocker market, accounting for over 38% of total revenue in 2024. The region’s leadership is attributed to the high incidence of ransomware attacks, significant IT infrastructure investments, and stringent regulatory standards. Europe follows closely, driven by robust data protection laws and a growing focus on critical infrastructure security. The Asia Pacific region is witnessing the fastest growth, with a projected CAGR of 16.8% through 2033, fueled by rapid digitalization, increasing cyber threats, and rising awareness among enterprises and governments. These regional dynamics underscore the global imperative for advanced ransomware protection solutions.

Component Analysis

The hardware-based ransomware blocker market by component is segmented into standalone devices, integrated solutions, and accessories. Standalone devices represent a significant share of the market, as they offer dedicated, out-of-band protection against