Jan 21, 2020
7 Ransomware Statistics MSPs Should Know
As ransomware continues to expand and evolve across the world, it’s imperative to understand the growing threat.
Recently, we released our annual State of the Channel Ransomware Report featuring a wealth of statistics from our research with managed service providers around the world. In our report, we pulled data from over 1,400 Datto Partners to understand how they and their clients are impacted by ransomware on a daily basis. This information provides some insight into the trends with year-over-year data, frequency, targets, impact, and recommendations for improving the chances of recovery and continuity in the face of the growing cybersecurity threat.
Let's take a look at some of the key statistics and information from the report.
- Ransomware remains the most prominent malware threat. In 2019, 85 percent of MSPs report ransomware as the most common malware threat to small to medium-sized businesses (SMBs).
- When it comes to the ransomware threat, there is a disconnect between MSPs and SMBs. 89 percent of MSPs are “very concerned” about the ransomware threat and 28 percent report their SMB clients feel the same.
- One in five SMBs report that they have fallen victim to a ransomware attack. (On average, SMBs who don’t outsource their IT services report facing more ransomware attacks.)
- MSPs report their clients fell victim to ransomware despite having antivirus software, email filters, pop-up blockers, and endpoint detection and response platforms. These solutions alone are no match for ransomware and other cybersecurity threats. Instead, it’s important to take a multilayered approach to ransomware with a business continuity and disaster recovery (BCDR) solution at the forefront.
- When it comes to ransomware attacks, MSPs report the cost of downtime is 23 times greater than the ransom amount requested. According to our research, the average ransom demand is $5,900 compared to the average cost of downtime coming in at a staggering $141,000.
- 92% of MSPs report that clients with BCDR solutions in place are less likely to experience significant downtime during a ransomware attack. 4 in 5 MSPs report that victimized clients with BCDR in place recovered from the attack in 24 hours, or less.
- SMBs aren’t the only businesses being targeted by hackers. 4 in 5 MSPs agree that their own businesses are being increasingly targeted by ransomware attacks.
To learn more about the current state of ransomware in the global channel, check out Datto’s State of the Channel Ransomware Report. In this report, you’ll find new data on ransomware attack frequency across SMBs and MSPs, ransomware defense measures MSPs are implementing, popular ransomware recovery methods, and more.