Cybersecurity is in the news almost daily and Investment in cybersecurity, by established corporations or venture capital is rising. The stature and business significance of cybersecurity operations within organisations continues its rise to a strategic management issue in every organisation. A dearth of skills shortage continues to impede the progress of a successful cyber defense strategy that can be put in place, this is driving most organizations to increasingly look for outside help be entering into consulting and managed security services contracts.
Rapid Increase in the Investment in Cybersecurity
- According to Gartner, worldwide spending on cybersecurity increased by 7% as compared to last year and will reach $86.4 billion in 2017.
- Spending on both cybersecurity services and products is expected to keep growing into 2018, reaching $93 billion by the end of the year.
- An Enterprise Strategy Group (ESG) survey found that for 39% of organizations, improving cybersecurity is the most important business initiative driving IT spending in 2017 and that 69% of organizations are increasing their cybersecurity budgets in this year alone.
- 81% of cybersecurity professionals agree that improving security analytics and operations is a high priority at their organizations.
- Cybersecurity startup funding hit an all-time quarterly high in terms of number of deals in the first quarter of 2017, up 26% from the previous quarterly high. The trend held through the second quarter, which saw just one fewer deal (145 total) compared to the previous quarter.
- The amount of disclosed equity funding to cybersecurity companies has also recently broken records, reaching an all-time quarterly high of $1.6 billion in the second quarter of 2017, according to CB Insights.