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Only 2% of IT Budget Spent on Cybersecurity Last Year, Says Report

April 01, 2019

Only 2% of IT Budget Spent on Cybersecurity Last Year, Says Report
Even as the organizations across the globe are realizing the importance of protecting their employees and customers, digital assets, and networks, they spent only 2% of their IT budget on cybersecurity in 2018, Canalys said.

The technology market analyst firm said that total cybersecurity investment in 2018 stood at 37 billion USD which is 9% higher than 2017’s 34 billion USD. It also said that online security spend is projected to hit 42 billion USD-mark by 2020.

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