Broker Check

Business Cyber Security Spending in 2021

January 04, 2021

A global survey of 3,249 business and technology executives by PWC reported on the Cyber Security Intelligence website found the most likely expected threats in 2021 are to the Internet of Things and cloud services. About 40% of executives plan to increase resilience testing so they can stay in business following an attack.

55% of respondents are increasing spending on cyber security in 2021, although 64% expect lower revenue. However, 25% of firms will spend less and 13% will stay the same.

51% of executives plan to add full time security personnel. Hires will mostly be for cloud solutions, security intelligence and data analysis.

With cyber threats increasing, improved security should be a priority.