According to Gartner, IT purchases from companies could drop by 8% in 2020 globally (see the full study on gartner.com). Other studies foresee even more drastic cost cuts, with IT included in those measures to limit financial loss. What will be the impact on cybersecurity budgets when attacks have highly increased since the beginning of the pandemic and when CISOs dread going back to the office?
To know more, CESIN questioned its members and the result is not as bad as it sounds, even if we must be careful. Indeed, two thirds of the respondents (on 163 people) believe cybersecurity budgets will not be lowered and could even increase (hypothetically). Just 17% think budgets will decrease of 20% maximum, and less than 16% assume there could be cost cuts of 20% or more.
Let’s hope these forecasts tell the truth. When the attack scope cannot stop becoming bigger in a world that keeps getting more digital, it would be reckless to reduce cybersecurity experts’ spending limit when they cannot have too much money to face the challenges to come.