Infosecurity Europe has announced that over two-thirds of IT security decision-makers are reporting an increase in cybersecurity budgets for 2024. The findings come as Infosecurity Europe opens registration for its 2024 event, with cyber investment being a significant talking point as organizations address security spend.
According to the research, 69% of surveyed IT decision-makers have seen or expect to see their cybersecurity budgets increase between 10-100% in 2024. Additionally, almost one in five (19%) of those surveyed anticipate budgets increasing between 30-49% over the coming year.
Cloud security and incident response are expected to see the highest injection of funds, followed by MSSP outsourcing, antivirus, education and training, managed detection, and patching. The increase in cybersecurity budgets reflects the escalating concerns regarding online threats and data breaches.
Mun Valiji, CISO at Trainline and Infosecurity Europe’s Advisory Council member, commented on the budgetary spend on cybersecurity, noting that security budgets are benefiting from much-needed increases due to the fast-changing threat landscape and tightening regulatory pressures.
For those planning to increase cybersecurity budgets in 2024, cloud security and incident response will see the biggest injection of funds. Other areas where additional investment will be spent include MSSP outsourcing, antivirus, identity security management, education and training, managed detection, and patching.
The research also highlighted that 15% of IT decision-makers reported a decrease in their security budgets for 2024, while a minor 4% saw no change in their budget. The findings are indicative of some of the themes and discussions lined up for Infosecurity Europe 2024, which will take place from June 4th to June 6th at ExCeL London.
The event will provide opportunities for cybersecurity professionals and members of the infosec community to exchange ideas, build resilience, and work together to protect our shared future. Attendees can expect to hear from industry experts, participate in networking programs, gain new perspectives and strategies, and explore the latest products and technological innovations in the field of cybersecurity.
Registration for Infosecurity Europe 2024 is now open, offering a platform for CISOs and cybersecurity professionals to glean insights on maximizing budgets amidst turbulent times. The event aims to foster innovation, collaboration, and resilience within the cybersecurity industry.