Ransomware is a type of malicious software that encrypts target systems and locks users out of their own data. Attackers then demand a ransom payment to restore access, often threatening to publish stolen data online if victims refuse to pay.
Ransomware has become increasingly popular among criminals in recent years – and increasingly costly for the organisations that fall victim to it.
The impact of ransomware
As of 2025, nearly 63% of businesses worldwide have been affected by ransomware attacks – a figure that has remained above 50% every single year since 2018. Q4 2024 alone saw a record-breaking 1,827 incidents globally.
The global cost of ransomware is estimated to reach $57 billion in 2025 – around $156 million every single day. Analysts project that figure will exceed $20 billion per month by 2031.
No sector is safe, but some face disproportionate risk. For instance:
- Two-thirds of healthcare organisations were hit in 2024.
- Attacks on utilities are surging by at least 42% year-on-year.
- Over two-thirds of attacks between 2024 and 2025 targeted businesses with fewer than 500 employees.
Ransomware has evolved from opportunistic nuisance to a calculated, industrialised threat – one that is as likely to hit a small business as a national infrastructure provider.