Cybersecurity Spending Surge: Companies Boost Budgets by 9% to Outpace Hackers in 2024!
Kaspersky’s latest report reveals companies are beefing up their cybersecurity budgets by 9% over the next two years. As cyber threats grow, both large corporations and SMBs are investing more to avoid financial disasters. It’s like buying extra armor in a video game—essential if you want to survive the next level!
Hot Take:
Who knew that the best way to combat cybercriminals was to throw money at them? As organizations dig deeper into their pockets to shield themselves from digital doom, it seems like hackers are inadvertently boosting the economy. Maybe we should start thanking them for the budget increases and job security in cybersecurity!
Key Points:
- Companies are expected to boost their cybersecurity budgets by 9% over the next two years.
- Large corporations spent $57 million on IT security in 2024, with $41.8 million earmarked for cybersecurity.
- Small and medium-sized businesses spent only $0.2 million on IT security from a $1.6 million budget.
- Cyberattacks cost large enterprises over $6.2 million in 2024 despite having in-house cybersecurity talent.
- Cyber insurance is increasingly recognized by CTOs and CIOs as crucial for financial protection against cyber incidents.
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