For four years straight, cyber-attacks were the most common and most impactful causes of business outages across organisations, according to the latest Veeam Software’s Data Protection Trends Report.
“Ransomware continues to be the biggest threat to business continuity,” said Dave Russell, VP of Enterprise Strategy at Veeam. “It’s the number one cause of outages today, and protecting against it is hampering digital transformation efforts. Furthermore, although companies are increasing their spending on protection, less than a third of companies believe they can recover quickly from a small attack.”
Organisations need modernised backup strategies since other outages remain threats, such as infrastructure /networking, storage hardware, application software, public cloud resources, and server hardware.
Veeam Data Protection Trends Report 2024:
The same study revealed that 76% of organisations experienced ransomware attacks at least once in the past 12 months. However, only 13% said they can successfully orchestrate recovery during a DR situation.
The survey also revealed that protecting against cyber threats and addressing environmental, social, and governmental goals are the top inhibitors of IT modernisation and digital transformation initiatives.
Only 32% of organisations believe they can recover from a minor attack (50 servers), crisis, or outage within a week.
On a positive note, the report foresees a growth on data protection budgets by 6.6% this year. Most organisations (92%) expect to spend more on data protection in 2024.
Cyber vigilance
“The findings in this year’s Veeam Data Protection Trends Report highlight the need for continued cyber vigilance and the importance of every organisation to ensure they have the right protection and recovery capabilities,” added Russell.