A recent study by Kaspersky, a global cybersecurity and digital privacy company, reveals that 15% of companies worldwide have faced cyber incidents due to inadequate investment in cybersecurity over the past two years. Critical infrastructure, oil & gas, and energy organizations experienced the highest number of incidents, mainly attributed to improper budget allocation.
Additionally, 20% of companies globally admit to lacking the budget for sufficient cybersecurity measures, with 13% of cyber incidents affecting the telecommunications sector due to budget constraints. The study indicates that 78% of respondents believe they can keep up with or stay ahead of new threats, but 21% struggle due to insufficient funds.
To enhance cybersecurity, companies plan to invest in threat detection software, training programs, endpoint protection software, additional IT professionals, and SaaS cloud solutions in the next 1-1.5 years. Kaspersky emphasizes implementing cybersecurity products with Advanced Anomaly Control for optimal budget utilization.