According to an Atlas VPN investigation, 37% of investment advisors believe that cybersecurity is a top priority investment for firms in 2020.
Most business advisors agree that one of the biggest risk factors for tech companies is data breaches, ransomware, or DDoS attacks.
Hence, 37% of participants named cybersecurity as one of the top priorities in their firm in 2020.
Rachel Welch, chief operating officer of Atlas VPN, coments: “In the past year, not a week went by without a significant data breach in healthcare, technology, or financial sector. Companies now understand the scope of damage a data breach causes to their firm. Not only do they waste a lot of time recovering deleted or stolen data, but the reputation loss is permanent.”
FBI estimates that in 2019, cyberattacks cost businesses $3,5-billion. Companies filled out 467 361 individual complaints in total regarding hacker invasions.
For companies that will increase their cybersecurity spending in 2020, even 83% of these will focus on cloud security. Also, 47% are planning significant increases in cloud security investments.
Threat intelligence and data privacy are trailing closely behind, with over 80% of executives naming them as the primary security focus in their firm. Even 40% of businesses will spend significantly more on data privacy in 2020 than the year before.