In 2021, experts predicted a 12% bump in global cybersecurity spending to around $150 billion. In 2022, experts predict that spending will either hold steady or rise. By 2025, the cumulative spending could be as high as $1.75 trillion.
These numbers reflect just how important it is to take precautions, particularly as remote work becomes the norm. They also mean that IT budgets will need to be restructured all over the world. We’ll look at the details behind the trends and how you can better allocate your cybersecurity budget to help maximize your spending.
Expectations in 2022
Gartner, a tech research and advisory firm, estimated that spending on information security will total $172 billion in 2022. This spike is putting pressure on security teams to deliver more for every dollar invested.
The problem is that between the infinite ways to attack a network (including social engineering) and the number of hackers, there is no such thing as infallible security. For organizations to truly prepare, there needs to be real collaboration between IT leaders and CEOs. This includes honest conversation about what security spending will look like but also a breakdown of what exactly the security will provide.
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