After surveying over 700 senior IT and cybersecurity leaders, Artic Wolf's State of Cybersecurity: 2023 Trends Report revealed that risk management remained a concern. The top three concerns of 2023 are all directly related to managing risk and preventing a future breach through humans, solutions and insurance.

The report provides security executives and practitioners a look into the current and future state of the cybersecurity landscape.

Key findings from the report include:

• Over half (55%) of respondents surveyed claimed their organization suffered a ransomware attack last year, with almost three-quarters (74%) of those companies claiming to have paid some form of ransom. Ransomware was the most common form of breach.
• Half (50%) of organizations surveyed said that they suffered a data breach last year, but the majority (72%) chose not to disclose the information out of fear of damage to company reputation, concerns over career consequences, worries over potential follow up breaches, fear of the impact to the organization’s cyber insurance premiums or because they were not legally obligated to.
• 38% of respondents surveyed believe their cloud resources are secured properly, highlighting cloud security as the biggest area of concern, followed by vulnerabilities and patching (25%).
• More than half (57%) of organizations surveyed said that their cybersecurity budget will increase this year, with 15% of these organizations expecting their budgets to balloon by 50% or more compared to 2022.
• 68% of organizations surveyed identified staffing related issues as the number one threat to achieving their objectives.