ransome ransomware costs are projected to reach $20 billion in 2020 – spending in the cybersecurity industry reached $40.8 billion in 2019 but has actually gone done in 2021

Ransomware has come to be a customary instrument in the arsenal of cybercriminals who routinely attack individuals and organizations. Under such circumstances, their victims experience financial damage either by ending up paying the ransom or by bearing the price of recovering from attacks. It’s now fairly obvious that becoming a ransomware target is no longer an “if”, but rather a “when” presumption. In a piece I wrote at the end of last year, I examined the biggest ransomware payments of 2019. To keep the tradition going, I’ve also tracked this year’s publicized cyberattacks so, at this time, I will review the highest ransomware payouts of 2020.

Ransomware statistics and trends in 2020

• 51% of businesses were targeted by ransomware (source).
• There was a +40% surge in global ransomware, reaching 199.7 million hits (source).
• By the end of 2020, ransomware costs are projected to reach $20 billion for all businesses (source).
• The average ransomware payment demand was $233,817 in Q3 2020 (source).
• 1 in 5 SMBs and 4 in 5 MSPs were targeted by ransomware attacks (source).

src: https://heimdalsecurity.com/blog/ransomware-payouts-of-2020/