Over half (52 percent) of organizations have suffered a data breach in the past two years globally, an increase from 49 percent in 2022 and 39 percent in 2021, a new report said on Wednesday.
According to the State of Security, 2023 report by software firm Splunk, about 62 percent of respondents said that their business-critical applications have suffered from unplanned downtime due to a cybersecurity incident on at least a monthly basis, an increase from 54 percent in 2022.
“In the organizations, we’ve worked with, resilience has been strongest with a collaborative approach in everything, from software development and infrastructure monitoring to business continuity planning. This approach brings everyone to the table, including security leaders with IT and business leaders, so they all can focus on protecting the organization,” said Ryan Kovar, Distinguished Security Strategist for Splunk and Leader of SURGe.
Moreover, in India, about 42 percent of organizations report being overwhelmed by the number of data breach attacks versus 23 percent in the rest of the world.
Nearly 48 percent of Indian organizations say their security stack is too complex, compared to 28 percent in the rest of the world.
The report also mentioned that the organizations in India more often report having been breached in the last two years by 59 percent versus 45 percent of respondents elsewhere in the broad Asia-Pacific region.
The report further stated that while enterprises face major cybersecurity obstacles, many organizations are taking steps to address these challenges.
Around 95 percent of the respondents say their security budgets will increase over the next two years, with 56 percent saying their budgets are increasing “significantly”.
Nearly 81 percent of organizations say they are converging aspects of their security and IT operations together.
About 95 percent of respondents say they have increased their focus on third-party risk assessments.
