Publication date: 06 Sep 2023
Over 74% of Indian Enterprises Hit by Ransomware in 2022
Almost 60% of enterprises in the Asia/Pacific (including Japan) region experienced ransomware attacks in 2022.
INDIA, 07 September, 2023 – According to International Data Corporation’s Future Enterprise Resiliency & Spending Survey, Wave 2 (April 2023), a staggering 74% of Indian enterprises and 59% in Asia/Pacific (including Japan) experienced ransomware attacks in 2022. Meanwhile, 53% of these enterprises in India made ransom payments up to US$500 thousand, with disruptions ranging from a day to weeks. Computer Emergency Response Team of India (CERT-In) data further underscores this, showing 14.02 lakh (1,402,000) cyber incidents in 2021 and 13.9 lakh (1,390,000) in 2022.
The dynamic and intricate cyber threat landscape in India is perpetually evolving due to a myriad of factors including geopolitical tensions, accelerated digitalization, and the ever-increasing sophistication of cyber criminals and external state-sponsored hackers.
According to IDC's Future of Trust India Survey, January 2023, improving financial management and transparency, privacy measures, and integrated risk management process came out to be the top drivers amongst IT decision makers to improve the practice of trust in their organizations. Here are some highlights from IDC's Future of Trust India Survey:
1. More than 85% of the Indian enterprises stated that security education and awareness is important to reduce the risk profile of an organization.
2. 62% of the Indian enterprises stated that they would prefer to leverage AI and analytics in cybersecurity processes such as threat detection, risk assessments, insights extraction from unstructured data and so on.
3. More than 45% of the Indian enterprises mentioned that they are looking at implementing KPI's to measure progress against compliance focused goals and investments.
4. Almost 36% of the Indian enterprises mentioned that they prefer to use cloud-based threat intelligence solutions and almost 58% mentioned that the greatest challenge they face with their current threat detection and response solutions are with respect to cost for tools, maintenance, and personnel.
5. Approximately 61% of enterprises are considering the adoption of zero-trust network solutions to enhance identity and access management, particularly in response to heightened risks posed by AI bots.
“Staying competitive demands strategic partnerships and continuous innovation. Our industry is experiencing a pivotal transition towards vendor consolidation, addressing the challenges posed by multi-vendor complexities. Indian enterprises are actively pursuing streamlined management and integration to elevate their security infrastructure's efficiency and effectiveness. This journey, guided by the fusion of global data and localized insights, strengthens the very fabric of our collective security,“ says Sakshi Grover, Research Manager, Asia/Pacific Security and Services IDC India.
This IDC report, The State of Cyber Resilience in India (Doc #AP50372823), details the state of the security market in India and provides a snapshot of cybersecurity market trends, cyber-risks pertaining to India, and how enterprises can evolve and be cyber-resilient amid the dynamic and increasing threat landscape. It also reveals some insights that can provide guidance to business leaders on specific technologies such as threat intelligence, secure access service edge (SASE), the convergence of operational technology and information technology, identity and access management (IAM), and achieving trust in a threat-prone ecosystem.
For more information about IDC's tracker products and research services, contact Sakshi Grover at email@example.com. For media inquiries, contact Michael de la Cruz at firstname.lastname@example.org or Miguel Carreon at email@example.com. You can also follow IDC India’s Twitter and LinkedIn pages for regular updates.
International Data Corporation (IDC) is the premier global provider of market intelligence, advisory services, and events for the information technology, telecommunications, and consumer technology markets. With more than 1,300 analysts worldwide, IDC offers global, regional, and local expertise on technology, IT benchmarking and sourcing, and industry opportunities and trends in over 110 countries. IDC's analysis and insight helps IT professionals, business executives, and the investment community to make fact-based technology decisions and to achieve their key business objectives. Founded in 1964, IDC is a wholly owned subsidiary of International Data Group (IDG), the world's leading tech media, data, and marketing services company. To learn more about IDC, please visit www.idc.com. Follow IDC on Twitter at @IDC and LinkedIn. Subscribe to the IDC Blog for industry news and insights.
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