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Cybersecurity dominates concerns among the C-suite, small businesses and the nation
- Cybersecurity has become a boardroom topic of the utmost importance in many organizations around the world.
- The 2024 Allianz Risk Barometer named cyber events the top global business risk.
- According to Gartner, global information security spending is expected to grow 15% by 2025.
- Cybersecurity expenditure is increasing due to a variety of factors including a widespread threat environment, cloud technology adoption and cybersecurity skills gaps.
- Small businesses' cloud adoption and use of remote work has made them attractive targets as cybercriminals look to exploit vulnerabilities.
- Generative AI tools have introduced a new dimension to the cybersecurity landscape with attackers increasingly using large language models and generative AI.
- Gartner predicts that by 2027, 17% of total cyberattacks and data leaks will involve generative AI.
- Organizations are ramping up their cybersecurity investments in response to the growing complexity and scale of cyber risk.
- The market share of cloud-native security solutions is expected to grow significantly, driven by the growing number of businesses moving operations to the cloud.
- The shortage of cybersecurity talent is driving force behind the increased spending as the demand for security services is expected to continue.
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