Data breaches are the biggest concern in cybersecurity. The budgets will increase this year and the forecast shows that global IT security spending will exceed $1 trillion. The forecast suggests that hackers will target shadow IT resources of organizations which will be around thirty percent. Organizations should focus on fixing vulnerabilities, as known ones will be targeted more. Organizations are expected to strengthen their cybersecurity by undertaking security assessments. Bigger budgets are being allocated to CISOs to tackle the constant changing security threats. Cybercriminals will escalate attacks this year and it is necessary to brush up on cybersecurity protocols. Five-year expenditure forecasts indicate higher spending by government institutions, manufacturing and finance industries than any other sectors. Organizations will be faced with tighter regulations imposed by governments and regulatory agencies. Due to the increase in cyberattacks, more organizations are changing their operations and taking cybersecurity into account.
