Cybersecurity budgets set to increase in the next year

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A new survey from Kaspersky finds 85 percent of IT decision makers in North America say their cybersecurity budget will increase anywhere up to 50 percent in the next 12 months.

The survey, carried out in October 2021 and targeting 600 IT decision makers in the US and Canada, finds 28 percent of respondents say their company annually invests anywhere from $25K-$50k in cybersecurity.

Investing in cyber insurance is a growing trend too and the top three criteria businesses would be willing to meet in order to obtain insurance are security controls (70 percent), compliance (52 percent) and education (44 percent).

The study also looks at who business employees hold most responsible for allowing a cyberattack to happen. Vendors are the top choice (25 percent) with the internal IT team as a close second (23 percent). However, should a cyberattack occur, 41 percent of respondents say they would ask their cybersecurity vendor for more recommendations on what their organization could and should do to avoid future attacks.

"As cybersecurity continues to garner more attention for the volume and complexities of attacks, it is important for vendors to have a directional understanding of how businesses plan ahead for their cybersecurity needs," says Rob Cataldo, managing director of Kaspersky North America. "Armed with this research, vendors will now be more informed when approaching potential clients and can speak more relevantly to their cybersecurity priorities in the year ahead."

You can read more and get the full report on the Kaspersky blog.

Photo Credit: Number1411/Shutterstock

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