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2024 Gartner® Magic Quadrant™ for Enterprise Backup and Recovery Software Solutions

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EXECUTIVE SUMMARY

Global cyber resilience survey 2024

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.

Notable survey results

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.

Additional areas of concern

69% said their organization had paid a ransom in the last year.

77% said their company had a ‘do not pay’ policy.

42% said their org could identify sensitive data and meet data privacy laws.

58% lack the IT and Security capabilities to do both.

A lack of data access control measures undermines Zero Trust Security.

48% haven’t deployed MFA, leaving critical data vulnerable.

So you think you're resilient. But are you?

Respondents' ransom payouts last year in USD

$1 - $249,999

0%

$250,000 - $499,999

0%

$500,000 - $999,999

0%

$1M - $2.99M

0%

$3M - $9.99M

0%

$10M - $25M

0.33%

Nearly all see rising cyber threats

96% said the threat of cyberattacks to their industry would increase or had increased this year, with 59% saying it had or will increase by over 50% compared to 2023.

Top 7 industries and sectors most at risk *

40 %

IT & Technology

27 %

Banking & Wealth Management

27 %

Financial Services
(including insurance companies)

24 %

Telecommunications & Media
(including streaming services)

23 %

Government & Public Services

21 %

Utilities
(including water, electricity, gas, and other energy services companies)

21 %

Manufacturing

* Respondents were asked to select their Top 7, so the percentage figures total over 100% for this dataset.

Belief that attacks or threats are likely AI based

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.