Cybersecurity Spending Surges Like a New Trendy Dance
When the COVID‑19 pandemic swept across the globe, it didn’t just shuffle our lives into remote work and Zoom dinners—it also opened the floor for cyber‑criminals to crash the party. With people staying inside and surfing the web more than ever, the digital playground became ripe for hunting.
Why Folks Are Now Aware of the Digital Danger
It’s easy to see why users grew wary: data breaches, phishing lures, and ransomware attacks stepped up their game. A study by LearnBonds found that 68 % of both public and private organisations plan to pad their cyber‑defenses thanks to the pandemic.
The Bottom Line: Money is Rushing to Cybersecurity
Back in 2017, global spending on cybersecurity tools topped $34 billion. Forecasts expected it to hit $42 billion by 2020—a trend that looks set to sprint past that mark now.
- Automation → 55 % of big firms are boosting investments.
- Smart Analytics → 53 % prioritize this next.
- Hybrid or Multi‑Cloud → 49 % are leaning in.
- Artificial Intelligence → 46 % round out the top four.
Internet of Things, 5G, and Edge Computing: A Pause in the Frenzy
Those tech trio—IoT, 5G, and edge computing—are seeing a slowdown in spend. Yet, telecom companies eye them as stepping stones, especially for the surge in remote work. Jack Dorsey even told his 5,000‑strong team that any of them could keep working from home if that’s what they want.
When Cyberbudget Grows, Other Areas Shrink
The data tell a clear story: boosting cyber shields means squeezing other budget lines.
- Augmented and Virtual Reality – Only 32 % plan to increase spending.
- Blockchain – Just 30 % are looking to invest more.
- Edge Computing – A modest 27 % plan to lift their budgets.
Artificial Intelligence: Rising, Then Bending the Curve
AI has been a true star across manufacturing, retail, banking, and lending, turbo‑charging decisions from days to minutes. However, this year 23 % of major firms intend to trim AI spend, and 18 % plan to dial down blockchain investments.
Despite those cuts, 59 % of IT vendors still cheer for an explosion in AI spend—guess the future’s still looking bright for the smart minds behind the curtain.
