As businesses gear up for 2018, cybersecurity is top of mind, with the macOS High Sierra “root access” bug and the Equifax data breach still making headlines. Businesses are likely going to spend more on IT security next year, but what will they be spending that money on and how should they go about IT security budgeting?
According to a survey from Gartner released in August, worldwide spending on information security products and services will reach $86.4 billion in 2017, which would be an increase of 7 percent over 2016. Next year, IT security spending expected is expected to grow to $93 billion.
Gartner and other cybersecurity analysts think that application security testing, data loss prevention and advanced threat protection are going to be among the key investments that companies make in 2018. Meanwhile, as businesses prepare to deploy new technologies to protect their networks and IT environments next year, Trend Micro offers best practices for cybersecurity budgeting, including avoiding using too many vendors, auditing existing solutions and developing deeper relationships with partners.