If you were considering increasing your investment into your information security in 2018, you certainly aren’t alone. Gartner released a report that indicated a considerable rise in plans to invest in key security considerations.
Closer analysis of these considerations shows that businesses around the world are paying attention to essential security requirements that have seen relatively smaller portions of budgetary spending in the past, as well as increasing their security investments as a whole. For example, while identity access management sees the smallest amount invested, it is anticipated that there will be an increase in spending of 9.7 percent between 2017 and 2018.
In addition, spending on network security, security services, and infrastructure protection is expected to rise by 6.7 percent, 11 percent, and 7.7 percent, respectively.
Why? Simply put, 2017 was a rough year, in terms of security breaches and other attacks. Worldwide events, like WannaCry and NotPetya, have shown the importance of comprehensive network security preparations. Another recent reinforcement of this lesson came when the Equifax breach came to light. Businesses of all sizes have taken notice and are planning ways to reinforce data security.
However, if these projections prove accurate, it may still not be enough.
With technology becoming more and more critical to business operations with every week that goes by, cybersecurity is only going to become more important–important enough that an overall spending increase of 8% might not be enough of an investment. After all, technology is becoming a factor in more and more elements of life, which gives a botnet more ammunition–and that’s just one example.
Fortunately, many businesses are also planning on outsourcing their security needs to experienced and trusted professionals. Spending on that is expected to increase by 11%. Will some of this increase be due to your investment?