The increase in cyber attacks seen throughout 2014 has led to a drop in confidence for many businesses, who are worried about how their firm would cope if they were to fall victim to such an incident.
This is according to a new report by research and marketing firm CyberEdge, which found that even though spending on cyber defences is growing, many professionals have resigned themselves to a data breach.
More than half of respondents (52 per cent) anticipate their firm will be the victim of a successful cyber attack in the next 12 months. This is up from 39 per cent in 2013.
One reason for this may be the large number of attacks witnessed in 2014, and the high media profile given to the worst breaches. CyberEdge's research found 71 per cent of firms suffered a data breach last year, with 22 per cent of respondents coming under attack at least six times.
This is a significant rise from the previous year, when 63 per cent of companies reported a breach and just 16 per cent saw more than five incidents.
Breaches at firms such as Home Depot, JP Morgan Chase and Sony Pictures all made headlines in 2014, with the latter gathering much attention because of the apparent political motivations and the impact it had on the wider industry.
Steve Piper, chief executive of CyberEdge, commented: "Who would have thought that we would see a time when a simple movie would spur attacks that forced an entire industry to publicly address the way it thinks about privacy, piracy, and the geopolitical implications of the product it produces."
The threats that are of the greatest concern to businesses include phishing/spear-phishing, malware, and zero-day attacks, the survey found. On the other hand, issues such as denial of services, drive-by downloads and watering hole attacks were found to be the least worrying to enterprises.
In order to cope with the growing threat level, budgets for security defences are expected to increase in 2015. Some 62 per cent of companies said they anticipate greater spending in this area, compared with 48 per cent that forecast a rise last year.
On average, organisations will devote between six and ten per cent of their IT budgets to combating cyber threats. One in five organisations will spend at least 16 per cent in this area.
Mr Piper said: "For the first time in our research, a majority of participants predict their networks will become compromised in 2015. These are indeed dangerous times, but there is still cause for optimism as organisations take active steps to prepare for the unexpected."
Investing in the right security solutions will be one way to tackle this dip in confidence and improve the safety of valuable business data. Innovations from Encode, supported by IBM QRadar, can give businesses the peace of mind they need that their business is protected.
With tools that provide a single platform for detecting and analysing threats, and full visibility into all network activity, firms using the solution stand well-placed to react swiftly and effectively to any potential threats.