As IoT devices, remote work and digitized business processes continue to expand, the need to protect them becomes increasingly more important.
According to Gartner, global cyber spend is forecasted to reach over $170B this year. Let’s discuss the factors that are contributing to the increase in global cybersecurity spending in 2022.
What Factors Are Driving Cyber Spending?
There are several factors companies indicated as the main reasons for their security spending; best practices, hybrid/remote workforce, etc. However, compliance/regulations or mandates were at the top of the list.
Due to increased awareness and the evolution of more complex cyber threats, organizations are having to adhere to the ever-growing compliance and regulatory requirements.
Cybersecurity Must Meet with Government Regulations
For companies supporting Department of Defense (DoD) contracts, NIST 800-171 and CMMC compliance regulations must be met in order for contractors to maintain their contracts and secure new business. But, on the other hand, there can be hefty fines and legal liability if these laws are not followed.
SSE Can Help You Prioritize Your Cybersecurity Budget
The threat of data breaches and hacked servers aren’t going away any time soon, but our defenses against them are getting stronger. Ensure your organization’s digital security by partnering with the experts at SSE for all of your cybersecurity needs.
Contact us today to schedule a consultation and learn more about how we help small businesses facing compliance challenges with regulations or mandates.
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