Here’s a shocking revelation about cybersecurity and it’s dangerous!

A recent survey by global consultancy firm PricewaterhouseCoopers (PwC) along with CIO and CSO stated that the number of cybersecurity violation cases has unexpectedly increased by 117% this year. The report further added that companies are investing heftily to reduce the count of such incidents and to improve their respective business performances.

While informing about the dreadful surge in such case, the report said, "The average number of information security incidents detected by respondents increased by 117% over the previous year, up from 2,895 last year to 6,284 this year."

The global market, however, reported lesser numbers with an amplification of just 39% during the same period – July 2014 to June 2015.

Indian companies, all thanks to the cybersecurityrisks, have also increased as much as 71% of their budgets to tackle such bugs.

With India hosting numerous startups, most of the recently introduced companies are now adopting cloud-based security models to curb cyber menaces.

Sivarama Krishnan, PwC India leader of Cybersecurity, said, "Organisations in India are looking towards innovative cybersecurity solutions, and we have seen a 25% compounded annual growth rate (CAGR) in security budgets over the past five years, which support this trend."

The report also said that over 71% respondents in the survey acknowledged the use of cloud-based security tools such as analytics, advanced authentication and identity and access management.

"Not only are leaders adopting innovative solutions, but even fundamental security technologies and practices have seen wider acceptance, and organisations have evolved to master the basics," Krishnan added.

The survey also pointed out that owing the increase in such incidents of cybersecurity, losses also surged by 135% over the previous year. The average cost per incident has gone up by nearly 8%, the report said.

The survey, which has beenconducted in India, is based on response of more than 480 C-level executives from across 17 industry sectors.
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