In the wake of budget cuts and economic uncertainties, recent findings from Forrester highlight a promising trend: cybersecurity budgets are on the rise once again. However, this positive shift comes with its own set of challenges as companies struggle with the increasing complexity of cybersecurity threats that continuously test their defenses. While increased funding demonstrates a heightened commitment to cybersecurity, the battle against these threats remains fierce.
According to a recent report, a staggering 71% of businesses are now grappling with three or more security incidents, marking a substantial 51% surge compared to 2022. Despite a significant uptick in security budgets — rising by an average of 20% in large enterprises and 5% in mid-sized counterparts — security teams are confronting many challenges such as rising security incidents and talent shortages that are impeding their ability to effectively combat these escalating threats.