Overview of Ransomware incidents, APT (Advanced Persistent Threat) market, and Could-based Security market

As the proportion of remote work due to COVID-19 increases, cybersecurity threats are also increasing due to the changing working environment. In particular, according to a recent announcement by the U.S. FBI, about 3,000 to 4,000 cybersecurity-related reports have been received every day since COVID-19. These numbers are 3 to 4 times higher than that of 1,000 cases before the Pandemic. Most of the reports mainly target the COVID-19 situation, and attacks that take advantage of the remote working environment, which have higher security vulnerabilities than inside the company, account for a large part. Likewise in Korea, cases of ransomware attacks and the amount of damage have been steadily increasing since 2016.

<Source: Korea Ransomware Computer Emergency Response Team Coordination Center>

According to statistics released in the first half of 2020 by market research firm Radicati Group, the adoption rate of APT (Advanced Persistent Threat) attack defense solutions including ransomware is increasing as concerns over targeted attacks increase. Accordingly, global APT defense solution revenue is expected to increase from $5.1 billion in 2020 to $10.5 billion in 2024.

<Source: Radicati Group, APT Projection Market Revenue Forecast, 2020–2024>

Another thing to note is that the’SECaaS’ market, which provides security services based on the cloud, is expanding in earnest. According to Gartner, a global market research firm, the global SECaaS market is projected to grow at an annual average rate of about 20%, from $1.38 billion in 2020 to $1.76 billion in 2022. Therefore, recently, more and more companies have developed cloud-based ransomware-responsive products in the form of SECaaS and provide them in the form of subscription-type communication services so that users can easily access and use them.

<Source: Gartner, Cloud-based security market forecast in 2020>