CISOs in Crisis: Shrinking Teams and Budgets Amid Global Market Jitters
The majority of CISOs are experiencing flat or declining team sizes due to reduced budget growth. With global market volatility and cautious spending, security teams are feeling the pinch. Meanwhile, security budgets as a percentage of IT spending have dropped, as core IT spending rebounds with AI and cloud investments.
Hot Take:
Who knew that balancing a security budget could be a game of financial Jenga? Just when you think you’ve got it all stacked up nicely, AI and cloud investments come along and yank out a crucial block. Watch out, or the whole thing might topple over faster than you can say “cybersecurity breach!”
Key Points:
- Healthcare, professional services, and retail saw the lowest security budget increases.
- Financial services, insurance, and tech are spending more on security.
- Security budget as a percentage of IT spending dipped from 11.9% to 10.9% this year.
- Global market volatility and geopolitical tensions are causing budget constraints.
- Majority of CISOs report flat or declining security team sizes.
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