Data protection, which has been suggested to be a barrier to the adoption of cloud services, is another area of focus in Veeam’s research. The report also found that data protection budget increases are accelerating, expected to grow by 6.6% in 2024. Overall, 92% of organisations 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.
“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 in this year’s Veeam Data Protection Trends Report highlight 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.”
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