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Flat or falling budgets in Cybersecurity ?

Peter • Saturday, September 7, 2024 • 1 min read (151)

The point

Chief Information Security Officers (CISOs) are experiencing a slowdown in budget growth, with over a third reporting flat or reduced spending in 2024, according to a survey by IANS Research.
Despite an overall increase in security budgets of 8% this year, this is significantly lower than the growth rates of 16% and 17% seen in 2021 and 2022, respectively.

The survey indicates that staffing levels are also stagnating, with many CISOs not hiring amid a continuing talent shortage in the cybersecurity field.