EXECUTIVE SUMMARY
This year’s third annual global survey, commissioned by Cohesity and conducted by Censuswide, gathered responses from 3,139 IT and Security Operations (SecOps) decision-makers (split 50/50 between the two groups). The survey polled public and private organizations in the United States, the United Kingdom, Australia, France, Germany, Japan, Singapore, and Malaysia in June 2024.
Survey results from this year show that organizations overestimate their cyber resilience capabilities and maturity—often overlooking deficiencies in data recovery speed or capabilities. In fact, only 2% of respondents indicated they could recover their data and restore business processes within 24 hours if a cyberattack occurred. The data also show that the majority of organizations are willing to pay a ransom. Three in 4 (75%) said their company would pay over $1 million to recover data and restore business processes and 22% of those said their company would pay over $3 million.
77% said their company had a ‘do not pay’ policy.
58% lack the IT and Security capabilities to do both.
48% haven’t deployed MFA, leaving critical data vulnerable.
Respondents' ransom payouts last year in USD
$1 - $249,999
$250,000 - $499,999
$500,000 - $999,999
$1M - $2.99M
$3M - $9.99M
$10M - $25M
IT & Technology
Banking & Wealth Management
Financial Services
(including insurance companies)
Telecommunications & Media
(including streaming services)
Government & Public Services
Utilities
(including water, electricity, gas, and other energy services companies)
Manufacturing
* Respondents were asked to select their Top 7, so the percentage figures total over 100% for this dataset.
According to respondents, organizations must now contend with AI-based cyberattacks or cyber threats, with 80% saying they had responded to what they believe to be AI-based attacks or threats within the last 12 months.