In a 2023 global survey of over 3,400 IT and SecOps decision-makers1, 93% said the threat of ransomware attacks to their industry had increased this year. Even more alarming, 45% said their organization had been the victim of a ransomware attack in the prior six months.

In a separate report by ESG2, more than half of organizations said they paid a ransom to regain access to data, applications, or systems. Plus, the average ransom payment in 2023 is $1.54 million, nearly double the 2022 figure.

Yet even organizations that pay a ransom discover that doing so doesn’t guarantee data recovery.