State of Security 2022 Report Reveals Increase in Cyberattacks While Security Talent Remains Scarce

Rhea-AI Summary

Splunk Inc. (NASDAQ: SPLK) released its State of Security 2022 report, revealing alarming cybersecurity trends. The survey, involving over 1,200 security leaders, found that 65% encountered increased cyberattacks, with 49% experiencing data breaches in the past two years. Ransomware attacks affected 79%, causing operational disruptions, where 54% reported monthly unplanned outages. Talent shortages are also a pressing issue, with 85% struggling to recruit and retain qualified staff. Despite these challenges, 67% of organizations are investing in advanced security technologies.

Positive

• 67% of organizations are investing in technologies for advanced analytics and security operations automation.

Negative

• 65% of organizations have seen an increase in attempted cyberattacks.
• 49% of organizations experienced a data breach in the past two years, up from 39% the previous year.
• 79% of respondents faced ransomware attacks, with 35% losing access to data and systems.
• 54% reported business-critical applications experiencing unplanned outages due to cybersecurity incidents monthly.
• 76% of teams had to take on unprepared responsibilities, with 70% considering leaving due to increased workload.
• 85% of respondents found it harder to recruit and retain talent over the past 12 months.

Global Research Shows Nearly Two-Thirds of Organizations Have Seen an Uptick in Cyberattacks and Roughly Half Experienced a Breach

SAN FRANCISCO--(BUSINESS WIRE)-- Splunk Inc. (NASDAQ: SPLK), the data platform leader for security and observability, in collaboration with Enterprise Strategy Group, today released the State of Security 2022, an annual global research report that examines the security issues facing the modern enterprise. More than 1,200 security leaders participated in the survey, revealing they’ve seen an increase in cyberattacks while their teams are facing widening talent gaps.

According to the report, 65% of respondents say they have seen an increase in attempted cyberattacks. In addition, many have been directly impacted by data breaches and costly ransomware attacks, which have left security teams exhausted:

• Nearly half (49%) of organizations say they have suffered a data breach over the past two years, an increase from 39% a year earlier.
• 79% of respondents say they’ve encountered ransomware attacks, and 35% admit that one or more of those attacks led them to lose access to data and systems.
• 59% of security teams say they had to devote significant time and resources to remediation, an increase from 42% a year ago.
• 54% of respondents report that their business-critical applications have suffered from unplanned outages related to cybersecurity incidents on at least a monthly basis, with a median of 12 outages per year.
  • The median time to recover from unplanned downtime tied to cybersecurity incidents is 14 hours. Respondents estimated the cost of this downtime averaged about $200,000 per hour.
• 64% of security professionals have stated that it's challenging to keep up with new security requirements, up from 49% a year ago.

“This survey has revealed that organizations are deeply concerned about supply chain attacks, especially after the SolarWinds hacks of 2020 and the Log4Shell incident in late 2021,” said Ryan Kovar, Distinguished Security Strategist, Splunk. “Ninety percent of organizations reported that they have increased their focus on third-party risk assessments as a result of those high-profile attacks. In my 20 years in IT security, I’ve never seen software supply chain threats given this level of visibility. Unfortunately, this will only increase the already intense pressure security teams face.”

As cybercriminals become more persistent and workloads increase, many organizations have been impacted by the Great Resignation and the additional security challenges of remote work. These factors have exacerbated the already ongoing talent shortage within the cybersecurity industry:

• 76% of respondents say their team members have been forced to take on responsibilities they are not ready for, and 70% say that the resulting increase in their workload has led them to consider looking for a new role.
  • 85% of respondents say it has gotten harder to recruit and retain talent over the past 12 months.
• 53% of respondents say they can’t hire enough staff and 58% cite an inability to find talent with the right skills.
  • 68% of respondents report that talent shortages directly led to the failure of one or more projects/initiatives.
• 73% of respondents say that workers have resigned, citing burnout.

Organizations from around the world face similar security challenges, but many struggle to secure proper investment into their cybersecurity programs and face cybersecurity skills shortages:

• Respondents in Canada report that their organizations are increasing their investment in cybersecurity at a slower rate than their counterparts globally. While 37% of respondents say that their organization will increase investments significantly in the next 12-24 months, 52% of their peers in other countries say the same.
• Over half (53%) of German organizations reported that the struggle to recruit and retain security talent caused multiple project delays in the past 12 months, compared to 43% across other countries.
• Cybersecurity skills shortages appear to be particularly challenging in Singapore, with 44% of respondents reporting challenges related to both hiring and retention, versus 22% of the peers globally reporting this to be the case.

“Our latest State of Security report has revealed the challenges security professionals face, but there are steps we can take to alleviate these issues,” said Jane Wong, Vice President of Security Products, Splunk. “One positive sign is that over two-thirds (67%) of organizations are actively investing in technologies designed for advanced analytics and security operations automation. Automation is critical to help reduce the time it takes to respond to attacks, and these technologies should focus on assisting our human analysts, not replacing them. This can mean fewer tools, not more. For example, a platform approach can make it easier for security teams to take action on complex threats, while the basic stuff is remediated at machine speed. The result should be less sense of being overwhelmed — and less analyst burnout, but also reduced dwell time if the organization has been breached.”

For more insights and recommendations from the State of Security 2022, please visit: www.splunk.com/en_us/campaigns/state-of-security.html

Methodology

The global survey was conducted from mid-January through mid-February 2022 and in partnership with the Enterprise Strategy Group. The 1,227 respondents, IT and security leaders and practitioners who spend more than half their time on security issues, were drawn from eleven regions: Australia, Canada, France, Germany, India, Japan, the Netherlands, New Zealand, Singapore, the United Kingdom and the United States.

About Splunk Inc.

Splunk Inc. (NASDAQ: SPLK) helps organizations around the world turn data into doing. Splunk technology is designed to investigate, monitor, analyze and act on data at any scale.

Splunk, Splunk>, Data-to-Everything, D2E and Turn Data Into Doing are trademarks and registered trademarks of Splunk Inc. in the United States and other countries. All other brand names, product names, or trademarks belong to their respective owners. © 2022 Splunk Inc. All rights reserved.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220412005412/en/

Media Contact

Emil Hanscom

Splunk Inc.

press@splunk.com

Investor Contact

Ken Tinsley

Splunk Inc.

ir@splunk.com

Source: Splunk Inc.

FAQ

What did the State of Security 2022 report reveal about cyberattacks affecting Splunk Inc.?

The report disclosed that 65% of organizations have faced an increase in cyberattacks.

How many organizations reported data breaches in the State of Security 2022 survey?

49% of organizations reported experiencing a data breach in the past two years.

What impact did ransomware attacks have according to the State of Security 2022 report?

The report indicated that 79% of organizations encountered ransomware attacks, leading to data loss in 35% of cases.

What was the response of organizations regarding talent shortages in security teams?

The survey found that 85% of respondents reported difficulties in recruiting and retaining security talent.

What percentage of organizations are investing in advanced analytics and security operations automation?

67% of organizations are actively investing in these technologies according to the report.