IT Budgets in 2020
Cybersecurity will Remain a Priority Despite Reduced IT Budgets, Research Shows
Cybersecurity remains a priority for investment among businesses, according to a Kaspersky report. Its share of IT spending has grown from 23% in 2019 to 26% in 2020 for SMBs, and from 26% to 29% for enterprises. 71% of organisations also expect their cybersecurity budget to grow further in the next three years. This is despite overall IT budgets decreasing in both segments amid the COVID-19 pandemic, and cybersecurity cuts affecting the most economically hit SMBs. External conditions and events can influence IT priorities for businesses. As a result of the COVID-19 lockdown, organisations have had to adjust plans to meet changing business needs – from emergency digitalisation to cost optimisation. The Kaspersky report, based on a survey of more than 5,000 IT and cybersecurity practitioner...
