Ransomware is a prevalent and pervasive threat, and attacks continue to grow in sophistication and volume. The only way for organizations to protect themselves and their digital assets is to have a comprehensive security strategy that includes prevention, detection, and response measures. An effective strategy can only be built on a solid understanding of the current state of ransomware and the impact that ransomware has on businesses around the world.

We've put together a list of 14 ransomware stats to help you better understand the threat and how it's changing. From its prevalence in key market sectors to its global reach, these statistics provide a snapshot of the ransomware landscape.

14 Ransomware Statistics To Know in 2023

Ransomware Attacks Are On The Rise

1. Approximately 37% of global organizations were the victim of a ransomware attack in 2021.
2. Ransomware attacks rose nearly 13% year over year – representing an increase as significant as the last five years combined. 
3. The FBI received 2,084 ransomware reports in the first six months of 2021, a 62% year-over-year increase. 
4. It is estimated that an organization suffered a ransomware attack every 11 seconds in 2021, according to Cybersecurity Ventures, and it is expected there will be a new attack on a consumer or business every two seconds by 2031.
5. New ransomware variants doubled in the first six months of 2022.
6. 82% of breaches in the DBIR involved the human element. 

How Ransomware Attacks Impact the Bottom Line

1. Ransomware will cost its victims around $265 billion (USD) annually by 2031, Cybersecurity Ventures predicts, as perpetrators progressively refine their malware payloads and related extortion activities.
2. $4.54 million is the average cost of a ransomware attack, not including the cost of the ransom itself. 
3. In 2021, the average ransom demand in cases we handled increased 144% over 2020.
4. On top of that, there was an 85% increase in the number of victims who had their names and other details posted publicly. 
   
5. Surging ransomware losses pushed premiums for cyber insurance policies up by 92 percent during 2021, according to recent reports.

How Prepared are Companies for Ransomware Attacks

1. Despite the statistics above, 96% of organizations still believe they are at least moderately prepared for a ransomware attack. 
2. Organizations took 49 days longer to identify and contain a ransomware attack compared to other types of breaches.
3. 84% of organizations have reported more than one security breach. 

When it comes to ransomware preparedness, this gap between perception and reality underscores the importance of incorporating an "always-on" mentality when it comes to preventing, detecting, and defending against ransomware.

6 Ways to Improve Ransomware Readiness

The below steps can help organizations build and maintain a comprehensive ransomware strategy that can protect against these threats:

1. Utilize a multi-layered security approach incorporating endpoint, network, and cloud security solutions.
2. Regularly back up data to ensure any lost or corrupted files can be recovered quickly and easily.
3. Perform regular vulnerability scans and patch management to reduce the attack surface area.
4. Develop and implement a comprehensive incident response plan in the event of an attack.
5. Monitor file integrity activity to detect changes made by malicious actors that may indicate the presence of ransomware.
6. Develop and implement user security training to ensure employees are aware of ransomware tactics and prevention steps.

By leveraging these best practices, organizations can ensure they are prepared in the event of a ransomware attack – and will be better equipped to keep their data safe. Doing so requires an understanding of the ransomware threat landscape and a commitment to staying ahead of the curve. By taking proactive steps now, organizations can significantly reduce their chances of falling victim to ransomware in 2023 and beyond.

Are you looking for new tools to help improve your team's ransomware readiness? We can help. The RangeForce platform was built to help organizations detect, analyze, and respond to some of the most prevalent ransomware variants used in recent attacks.