Cybercrime is a booming business, inflicting damage to numerous organizations. In 2021, data breach costs rose from $3.86 million to $4.24 million — the highest average total cost in 17 years. Cyberattacks are a costly business, resulting in profit-sapping downtime, lost revenues, brand damage, stock price losses and regulatory fines.

The Acronis Cyber Readiness Report, which surveyed 3,600 IT managers and remote workers across 18 countries around the world in order to evaluate their cyber readiness during the second year of the pandemic, found that 30% of companies are attacked at least once a day, and that 81% of all respondents reported encountering a cyberattack at least once a week during the past year. Meanwhile, various researchers concluded that downtime costs can range from $10,000 per hour to as much as $260,000 per hour.