Infosecurity Europe has announced that over two-thirds of IT security decision-makers are reporting an increase in cybersecurity budgets for 2024. According to a recent survey, 69% of IT decision-makers have seen or will see their cybersecurity budgets increase between 10-100% this year. Additionally, almost one in five respondents expect budgets to increase between 30-49%.
Cloud security and incident response are expected to receive the highest injection of funds, followed by MSSP outsourcing, antivirus, education and training, managed detection, and patching. The increase in cybersecurity budgets reflects the growing concerns regarding online threats and data breaches.
Mun Valiji, CISO at Trainline and member of Infosecurity Europe’s Advisory Council, commented on the budgetary spend on cybersecurity, noting the positive impact of increased budgets in light of evolving threats and regulatory pressures.
For those planning to increase their cybersecurity budget in 2024, investments will be focused on areas such as cloud security, incident response, MSSP outsourcing, antivirus, education and training, managed detection, and patching. However, email security and threat exposure management seem to be lower on the priority list for additional investment.
The research also revealed that 15% of IT decision-makers have reported a decrease in their security budgets for 2024, while 4% expect no change. The findings from the survey will be discussed at Infosecurity Europe 2024, which will take place from June 4-6 at ExCeL London.
Attendees can expect a range of sessions and networking opportunities at the event, including keynote speeches, roundtable discussions, presentations on strategic business challenges, and hands-on learning experiences. The conference aims to provide a platform for cybersecurity professionals to collaborate, share insights, and enhance their security posture in the face of evolving cyber threats.