Ransomware is pervasive and represents a serious concern for both business and IT leadership teams moving forward. ESG
recently completed its annual technology spending intentions research survey of 651 senior IT decision makers at
midmarket (i.e., 100 to 999 employees) and enterprise (i.e., 1,000 or more employees) organizations across North America
and Western Europe.1 According to Figure 1, while 40% of organizations haven’t suffered a ransomware attack (or prefer
not to say), the majority of firms indicated that they have dealt with ransomware in 2019. In fact, 60% reported
experiencing a ransomware attack at some point over the twelve-month period, with 29% reporting that attacks happened
on a weekly basis (or even more frequently). Alarmingly, 13% faced ransomware threats daily! Organizations reporting a
cybersecurity skills shortage were much more likely (67% versus 54%) to have been targeted by ransomware over the last
12 months. ESG’s 2020 technology spending intentions research also indicates that 62% of organizations will increase
cybersecurity spending in 2020, and it’s safe to assume that, in many cases, ransomware concerns helped to at least
influence these security investment positions.
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