Approximately 45 percent of small and medium-sized businesses (SMBs) commit less than the average spend of $205,000 annually to IT security, and 50 percent of enterprises commit less than the average spend of $8 million annually to IT security, according to research compiled using data from the Kaspersky IT Security Calculator. Comparatively, industry analyst Gartner indicated that global information security spending is expected to exceed $124 billion in 2019, with 9 percent year-over-year growth.
Budgets for SMBs were reviewed "more actively" (46 percent) than budgets for enterprises (38 percent) this year, Kaspersky's research revealed. In addition, Kaspersky's research showed that SMBs often face challenges related to HR demands to hire experts who understand relevant cybersecurity risks and identify security methods for various business services.
A Closer Look at the Kaspersky IT Security Calculator
The Kaspersky IT Security Calculator is a free web tool that enables IT security managers to view the average budget for cybersecurity in their region and industry. It also allows IT security managers to compare budgets within their organization.
Furthermore, IT security managers can use the Kaspersky IT Security Calculator to compare their budget with competitors', Kaspersky noted. This ensures that IT security managers can understand their organization's position in the global marketplace.
Top Cybersecurity Technology Buying Trends in 2019
Optiv, a Top 200 MSSP for 2019, and cybersecurity intelligence firm Momentum Cyber cited the following as the top five cybersecurity technology buying trends in its "2019 Security Technology Spend Insights Report":
- Identity management.
- Vulnerability management.
- Email security.
- Data protection.
- Cloud security.
Meanwhile, the global remotely managed security services market is projected to expand at a compound annual growth rate of 14 percent between 2017 and 2021, according to industry analyst AMI-Partners. North America also is expected to remain the largest market for remotely managed security services in the years to come.