In a survey of U.S. technology and healthcare executives nationwide, Silicon Valley Bank found that companies believe cyber attacks are a serious threat to both their data and their business continuity.
Highlights
- 98% are maintaining or increasing resources devoted to cyber security
- 50% are increasing their cyber security resources, preparing for when, not if, cyber attacks occur
- Just 35% are completely or very confident in the security of their company information, and only 16% feel the same about their business partners
2. Highlights
Cybersecurity is seen as a serious threat across all industries: 93% of respondents
indicate that cybersecurity is a priority
Almost half (46%) indicate that media has affected their perceptions of cybersecurity
Most respondents are relatively confident regarding the security of information they
possess but less confident about their partners such as vendors and customers
Nearly half say resources devoted to cybersecurity have increased this year
Small and mid-size tech companies are now focusing more on measures to respond
to inevitable cyber attacks — monitoring, preventive policies, training and staffing —
than on preventive infrastructure
Over half of companies say cybersecurity is a key offering or component of product
offering
Over half of respondents storing information privately, and show lower appetite for
storing information in public cloud
Software is most confident about using the public cloud
Software firms are equally concerned about business interruption as IP loss, while
hardware and cleantech companies are more concerned with IP loss
2
3. Most tech and healthcare companies believe cyber attack is
a serious threat to their data and overall business
3Pulse Survey: Cyber Security Results
“Way too much
resource must be
spent managing and
defending, which
prevents time better
spent on innovation
and growth. Very sad
state for the
technology
community”.
CEO, Big Data
Company
Source: Silicon Valley Bank
4. Only 35% of companies are completely/very confident regarding
the security of their own information and are less so when it
comes to protective measures of business partners
Pulse Survey: Cyber Security Results 4
“I believe it will be an
ever-increasing
concern and
challenge. We are
particularly concerned
about foreign states
who attempt to hack
into our businesses.”
- CEO, Consumer
Electronics Company
Source: Silicon Valley Bank
5. Nearly half of respondents say resources devoted to the
problem have increased
Pulse Survey: Cyber Security Results 5
“It's a constant battle
that won't go away
and we are now
spending more to
protect ourselves from
when we are hacked
than to try and keep
from being hacked.”
- CEO, Financial
Technology Company
Source: Silicon Valley Bank
6. Most common resource investments focus on active
response to cyber attacks vs. infrastructure enhancements
6Pulse Survey: Cyber Security Results
“Cybersecurity is a
losing battle if a
sophisticated hacker
wants your data. The
best you can do is
minimize
vulnerabilities,
educate the executive
team to care,
implement and
monitor policy.”
- CEO, Financial
Technology Company
Source: Silicon Valley Bank
7. 7
Over half of companies (56%) say cybersecurity is at least a
component of their offering
Pulse Survey: Cyber Security Results
“Cybersecurity is an
important issue, and
needs to be integrated
into every aspect of
the running of the
company. Companies
need to take…disaster
recovery, risk
assessments as well
as regular audits
seriously.”
- CEO, Enterprise
Applications Startup
Source: Silicon Valley Bank
8. Media attention has affected clients’ perceptions of
cybersecurity
Pulse Survey: Cyber Security Results 8
“Although there is a lot
of useless media
hype, cybersecurity is
important and should
never be ignored. For
the foreseeable
future, cyber attacks
will be a daily constant
for any company with
an Internet presence.”
- CEO, Hardware
/Cleantech Startup
Source: Silicon Valley Bank
9. Company information is more likely to be stored privately or
using some combination of a private/public cloud
Pulse Survey: Cyber Security Results 9
“Data security is and
always will be an
important part of
technology
infrastructure. The
cloud is not a silver
bullet.”
CEO, IT Services
Startup
Source: Silicon Valley Bank
11. Most sectors are devoting more resources to cybersecurity;
this is more pronounced among software clients
11Pulse Survey: Cyber Security Results
Source: Silicon Valley Bank
12. Software companies more likely than hardware/cleantech or
healthcare to consider a cyber attack a serious threat in
terms of business interruption (58% vs. 47% and 41%)
Pulse Survey: Cyber Security Results 12
Source: Silicon Valley Bank
13. 13Pulse Survey: Cyber Security Results
Cleantech/hardware companies more likely than software or
healthcare to consider a cyber attack to their data/IP a serious
threat (69% vs. 58% and 60%)
Source: Silicon Valley Bank
14. Software clients are more confident in security of their own
information and less confident in security measures of their
partners
Pulse Survey: Cyber Security Results 14
Source: Silicon Valley Bank
15. All subsectors have been influenced by the media to some
degree; this is more pronounced among software companies
Pulse Survey: Cyber Security Results 15
Source: Silicon Valley Bank
16. Software companies are more likely to store company data in
the cloud
16Pulse Survey: Cyber Security Results
Source: Silicon Valley Bank
17. Over half of companies (56%) say cybersecurity is at least a
component of their offering
Pulse Survey: Cyber Security Results 17
Source: Silicon Valley Bank