Ransomware Main Cause for Business Outages; Veeam Data Protection Report 2024

Veeam recently released insights from the company’s 5th annual Veeam Data Protection Trends Report 2024

While companies say they will spend more trying to fend off cyber-attacks, the survey found IT leaders are feeling even less protected and more concerned about their ability to recover and restore mission-critical data.

Respondents shared that cyber-attacks remain the top cause of outages and that while organizations are putting more emphasis on utilizing the cloud for major recoveries, only a small percentage believe they’d be able to recover from even a small crisis in under a week.

Highlights of the Veeam Data Protection Trends Report 2024:

  • Cyber-Attacks are the #1 Cause of Outages: For the fourth straight year, cyber-attacks were listed as the most common and most impactful causes of business outages across organizations.
  • Ransomware Continues to be a ‘When’ Not an ‘If’: 76% of organizations were attacked at least once in the past 12 months. While this number is down from 85% in 2023, 26% reported being attacked at least four times this past year. So according to the report, more organizations were hit quarterly than those who believe they were not attacked at all. Recovery is still a major concern, as only 13% said they can successfully orchestrate recovery during a DR situation.
  • Digital Transformation is Being Hampered by Cyber-Attacks: The survey ranked protecting against cyber threats and addressing environmental, social, and governmental goals as the biggest inhibitors to IT modernization and digital transformation initiatives.
  • Only 32% of organizations believe they can recover from a small attack, crisis or outage within a week: While most organizations consider cyber resiliency a foundational aspect of their broader business continuity or disaster recovery (BC/DR) strategy, BC/DR preparedness is not yet “passing” most SLA expectations. When asked how long IT would need to recover 50 servers, only 32% believed their IT staffs could recover the servers within five business days.
  • Data Protection Budget Increases are Accelerating: Data protection budgets are expected to grow by 6.6% in 2024. This is the second straight year the survey revealed that data protection spending growth will outpace IT spending growth.[i] Overall, 92% of organizations expect to spend more on data protection in 2024 to continue to prepare against cyber-attacks as well as the changing production landscape that requires different approaches to data protection.
  • Data Protection and IT Security are becoming more integrated: Two out of five (41%) consider some aspect of mobility in cloud scenarios as most important characteristic of a modern solution, including the ability to move a workload from one cloud to another and the standardization of protection between on-premises workloads and IaaS/SaaS.

“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 spend on protection, less than a third of companies believe they can recover quickly from a small attack.

The findings highlighted on the need for continued cyber vigilance, and the importance of every organization to ensure they have the right protection and recovery capabilities. It’s why “Veeam’s mission in 2024 is to keep businesses running.”

Other notable insights from the report include:

  • Most Organizations Are Using Containers But Not Backing Them All Up: Container usage continues to rise, with 59% of enterprises running them in production, and another 37% either rolling them out or planning to. Unfortunately, only 25% of organizations use a backup solution that is purpose-built for containers, while the rest of organizations back up only some of the underlying components – e.g., storage repositories or the database contents.
  • 2024 Will See Significant Job Changes Outside the Organization: The fact that 47% of respondents expressed an intent to seek a new job outside of their current organization within the next twelve months represents both a challenge and an opportunity for data protection initiatives.
  • Hybrid Production Architectures are Forcing Reconsideration of ‘Backup’: For the second straight year, the two most important considerations for “enterprise backup” solutions are reliability and the protection of cloud-hosted workloads (IaaS and SaaS). This is problematic for organizations relying on older datacenter-centric data protection solutions.

(Image courtesy: www.vpnmentor.com)

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