Businesses are prioritising investment in cybersecurity despite the overall IT budget cuts amid the Covid-19 pandemic, according to a Kaspersky report on ‘Investment adjustment: aligning IT budgets with changing security priorities’.
The share of cybersecurity in IT spending has grown from 23 per cent in 2019 to 26 per cent in 2020 for small and medium businesses (SMBs). For enterprises, cybersecurity’s share in spending has increased to 29 per cent in 2020 from 26 per cent last year.
“Cybersecurity remains a priority for investment among businesses. This is despite overall IT budgets decreasing in both segments amid the Covid-19 pandemic, and cybersecurity cuts affecting the most economically hit SMBs,” the report said.
“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,” it further said.