2024 Cybersecurity Trends Report:
Obstacles and Opportunities
2024 Cybersecurity Trends Report
As we progress through 2024, the cybersecurity industry finds itself at an intersection of obstacle and opportunity. But what exactly are the prospects and pitfalls the sector faces this year and beyond?
To help separate the signal from the noise, Infosecurity Group collected data from 200 cybersecurity professionals across a wide variety of sectors, regarding:
- Changes to budget levels
- Areas where budget increases will be allocated
- Threats driving cyber spending
- Impact of AI
- Regulatory challenges
- Building a ‘cyber aware’ culture
This report collates and summarises the findings with respect to the current state of cybersecurity in 2024. For additional context, it contains perspectives and analysis from respected security leaders.
Key findings
Cyber budgets keep rising
Financial backing is in ready supply for the cybersecurity sector. Almost 70% of security leaders reported that their budgets have risen, or will rise, in 2024 – with 20% expecting to see a significant increase of between 30-50%.
Threats evolving rapidly
Generative AI, ransomware and social engineering are the threats most likely to keep CISOs up at night, with over a third of our survey respondents saying these issues were driving investment in cybersecurity.
Double-edged AI sword
54% responded that their organisations planned to integrate AI as part of their cybersecurity strategy in the next 12 months. However, 50% also feared that AI will lead to more attacks.
Regulatory compliance needs to accelerate
Regulations and legislation are not slowing down in the cybersecurity sector. However, only two regulations – Sarbanes-Oxley (SOX) Act and the EU Cybersecurity Act – had a compliance rate of over 50% in our survey respondents.
Board members take a reactive approach
30% of security leaders agreed that it would take until after becoming a victim of an attack for board members to want to gain expertise in cybersecurity – at the cost of potential financial penalties and reputational damage.
Read the full report now to access unmissable insights into the cybersecurity landscape
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