Infosecurity Europe has revealed that cybersecurity budgets of organisations have seen or are expected to see an increase between 10-100% in 2024.
Infosecurity Europe, the most influential security event running at ExCeL London from 4-6 June 2024, has announced findings from research into the cybersecurity budgets of organisations.
The research revealed that 69% of surveyed IT decision-makers have seen, or will see, their cybersecurity budgets increase.1
Almost one in five of those surveyed are seeing or expect to see budgets increase between 30-49% over the coming year.
“We continue to see pragmatic budgetary spend on cybersecurity under mounting macroeconomic pressures. The fast-changing threat landscape and tightening regulatory pressures have in the main seen security budgets benefiting from much-needed increases which is positively received”, said Mun Valiji, CISO, Trainline, Infosecurity Europe’s Advisory Council member.
Cloud security and incident response to receive the most investment
For IT leaders who plan to increase cybersecurity budgets in 2024, cloud security and incident and response will see the biggest increase. Of those surveyed, 47% noted that between 1-20% of the investment will be spent in those areas.
As well as this, 46% said 1-20% of their spending will go towards MSSP outsourcing and antivirus, and 44% are willing to invest between 1-20% of their budget on education and training.
The research found that email security and threat exposure management were at the bottom of the priority list. This could be due to the budget injection in MSSPs and the potential to outsource these issues.
The increase in cybersecurity budgets reflects escalating concerns regarding online threats and data breaches, signifying the need to be secure against cyberattacks.
Infosecurity Europe 2024: Maximising budgets in turbulent times
In June 2024, Infosecurity Europe is set to host a panel focusing on maximising budgets amidst this unstable period.
The event will serve as a crucial forum for CISOs and cybersecurity experts to acquire valuable perspectives on crafting compelling business justifications to augment their budget allocations.
Participants will have the opportunity to delve into innovative approaches geared towards enhancing their security spending. This includes assessing current systems through audits, maximising the value derived from existing resources, and prioritising investments in personnel over acquiring new systems.
Nicole Mills, Exhibition Director at Infosecurity Group, added: “The conference provides a springboard for industry leaders, experts, and vendors to join heads and join forces, to collaborate and share experiences and knowledge. Peers come together to debate and discuss critical topics, to find solutions to problems and put solid cybersecurity strategies in place.”
Registration for Infosecurity Europe 2024 is now open, with the findings from this research being indicative of some of the themes and discussions lined up for this year’s conference.
Click here to register for Infosecurity Europe 2024 now.
References
- ‘+10% to +14%’, ‘+15% to +19%’, ‘+20% to +29%’, ‘+30% to +49%’, ‘+50% to +74%’, ‘+75% to +99%’ and ‘+100% or more’ answers combined
