Cybersecurity Fears Drive Increase in 2018 IT Budgets

June 10, 2018 Mark Brunelli

Cybersecurity concerns are the top reason why a majority of businesses are spending more on IT this year, according to the results of a new survey. 

Milford, Mass.-based IT research firm Enterprise Strategy Group (ESG) surveyed 651 IT decision makers at midmarket and enterprise companies representing more than 20 industries and found that 53% are spending more on IT in 2018. And 44% cited "strengthening cybersecurity" as the number one reason.

Another 41% said they would spend as much this year as last. Only 6% said they expect to decrease spending.
 


 

Businesses are spending more on cybersecurity to deal with the onslaught of ransomware attacks they face, among other things. A whopping 62% of respondents work at organizations that have experienced a ransomware attack in the last year, and just over a third are facing attacks frequently—daily,  weekly or monthly.
 


 

The ESG survey also found that 81% of company executives are either concerned or highly concerned about the prospect of a successful ransomware attack. 

Ready to learn more? Get expert advice on how to staff the most difficult-to-fill IT positions. 

This article was originally published here.

Previous Article
IT Skills Shortage: How Bad Is It?
IT Skills Shortage: How Bad Is It?

IT decision makers in the U.S. and Western Europe are struggling to fill important positions within their o...

Next Article
New Podcast Investigates History's Most Notorious Data Breaches
New Podcast Investigates History's Most Notorious Data Breaches

Season one takes an in-depth look at the biggest hack in history: The Yahoo data breach left three billion ...