Canalys: More data breaches in 2020 than previous 15 years despite 10% growth in cybersecurity spending

VentureBeat

Chris O'Brien

As cyberattacks increase, it’s hard not to wonder if enterprises are fighting a losing battle. According to a new report by Canalys, companies are spending record sums on cybersecurity, and yet the number of successful attacks is higher than ever.

Canalys’ report noted that “more records were compromised in just 12 months than in the previous 15 years combined.” These are being driven in particular by ransomware attacks that have become more severe, in some cases disrupting hospitals. These attacks have also caused some companies to shut down and others to put emergency response plans in place to avoid being shuttered.

This carnage is happening despite the fact that cybersecurity investment grew 10% in 2020 to $53 billion.

So what’s going on?...

Get the Morning Update

Thanks for subscribing!