News Room Media Inquiry
Two-thirds of organizations point to cyber-risk concerns as main drivers for implementing a Zero Trust strategy
MINNEAPOLIS − May 30, 2024 − The Entrust Cybersecurity Institute today released survey findings on the state of Zero Trust adoption and encryption in 2024. Entrust’s 18th annual study conducted by the Ponemon Institute reveals that the risk of a cyber breach is the No. 1 global driver for Zero Trust strategy implementation.
“With the rise of costly breaches and AI-generated deepfakes, synthetic identity fraud, ransomware gangs, and cyber warfare, the threat landscape is intensifying at an alarming rate," said Samantha Mabey, Director Solutions Marketing at Entrust. “This means that implementing a Zero Trust security practice is an urgent business imperative – and the security of organizations' and their customers’ data, networks, and identities depends on it.”
The 2024 State of Zero Trust & Encryption Study surveyed 4,052 IT and IT security practitioners across the U.S., UK, Canada, Germany, Australia and New Zealand, Japan, Singapore, and the Middle East. The survey shows that people are now more motivated to invest in security to prevent data breaches, rather than just to follow regulations. While in the past compliance was the main reason for security investments, 41% of respondents now prioritize security investments to reduce the risks of data breaches or other security incidents. This marks a significant change in attitudes toward why organizations invest in security.
Key findings from the 2024 State of Zero Trust & Encryption Study include:
- Rising rates of cyber breaches are influencing opinions about Zero Trust: Two-thirds of organizations list cyber-risk concerns as the most important drivers for implementing a Zero Trust strategy. The pattern is even more pronounced in the U.S., with 50% of organizations citing cyber breach risk and 29% reporting the expanding attack surface for a combined total of 79%.
- Senior leadership support for Zero Trust is increasing, but skills and budget aren’t keeping pace: Despite 59% of organizations reporting significant senior leadership support for Zero Trust, a lack of skills and budget are still cited as the biggest roadblocks to implementing these frameworks, highlighting a discrepancy between support and resource allocation.
- Zero Trust adoption is exploding, but lagging in the West: While 61% of organizations have begun their own Zero Trust journey, only 48% of U.S. organizations have, raising a concern that Western entities know they have a problem but are unable to adopt Zero Trust, leaving them vulnerable to cyber threats.
- Good cyber hygiene alone can’t safeguard against all threats: 46% of respondents cited hackers exposing sensitive or confidential data as their top security concern, followed by system or process malfunctions and unmanaged certificates. For the first time in the past eight years, organizations did not rank employee mistakes as a top security threat.
- People, skills, and ownership remain painful hurdles for organizations to achieve effective credential management: 50% of respondents identified a shortage of skilled personnel, 47% highlighted the absence of clear ownership, and 46% pointed to inadequate staffing as the primary reasons for the challenges associated with credential management.
Resources:
- Read the report Executive Summary: https://www.entrust.com/cybersecurity-institute/reports/2024-state-of-zero-trust-exec-summary
- Download the full report: 2024 State of Zero Trust & Encryption Study
- Visit the Entrust Cybersecurity Institute website to see more great content: www.entrust.com/cybersecurity-institute.
Methodology:
The 2024 State of Zero Trust & Encryption Study, based on research by the Ponemon Institute, captures how organizations are leveraging Zero Trust, credential management, and HSMs to prepare for and prevent cyberattacks. In this study, 4,052 IT professionals were surveyed across multiple industry sectors in nine countries/regions: the United States, the United Kingdom, Canada, Germany, Australia and New Zealand, Japan, Singapore, the United Arab Emirates, and Saudi Arabia.
About Entrust:
Entrustは、強力なID、安全な支払い、保護されたデータを実現することで世界の安全に寄与しています。 当社は、安全な企業、政府、彼らがサービスを提供する人々、およびそれらに関連するデータとトランザクションの将来に不可欠な、幅広く比類のないソリューションを提供しています。 当社の専門家は150か国以上の顧客にサービスを提供しており、グローバルパートナーのネットワークを備えているため、世界でも特に信頼されている組織が信頼を寄せるのも不思議ではありません。Learn more at www.entrust.com.
