Over 62% of respondents, up from 54% in 2022, reported that their business-critical applications had experienced unanticipated downtime due to a cybersecurity event at least monthly, according to Splunk’s State of Security 2023 study.

“With a collaborative approach in everything from software development and infrastructure monitoring to business continuity planning, resilience has been strongest in the organisations we’ve worked with. This strategy brings everyone to the table, including IT and business leaders as well as security leaders, so they can all concentrate on safeguarding the organization,” Ryan Kovar, Senior Security Strategist at Splunk and Leader of SURGe, made this statement.

Additionally, compared to 23% of organisations worldwide, roughly 42% of Indian organisations report being overrun by data breach attacks.

Only 24% of Indian businesses are prepared to fend against cybersecurity attacks, as per the study.

Compared to 28% of organisations worldwide, nearly 48% of Indian organisations claim their security stack is too complex.

According to the survey, 59% of organisations in India and 45% of respondents from the rest of the Asia-Pacific area reportedly had their security cyber walls penetrated in the past two years.

The report further stated that while enterprises face major cybersecurity obstacles, many organisations are taking steps to address these challenges.

Over the next two years, 95% of respondents expect their security budgets to rise, with 56% stating that company budgets are already increasing “substantially.”

Almost 81% of organisations claim to be combining specific components of their IT and security operations.

Around 95% of the respondents also stated that they are putting more emphasis on third-party risk assessments.

The post 52% of businesses experienced data breaches in past two years appeared first on International Finance.