53% of cyber resilient organizations are committing significant investment to advanced threat detection.

The average security budget is $24 million.

SaaS security is a top priority for 86% of organisations, with 76% increasing their budgets this year.

91% of respondents said they expect their middle market's organisation's cybersecurity budget to increase in the year ahead.

1 in every 8 IT dollars is allocated to cybersecurity.

Security budgets are projected to grow by just 4.3%, the smallest increase since 2021.

More than a fifth of financial organisations will be boosting budgets by up to 10%

63% of financial services firms will increase cyber security investment over the next year.

21% of C-suite leaders say their organisation currently invests more than 10% of their IT budget in cybersecurity. This number is expected to roughly double to 38% next year

More than a third of UK SMEs (38%) invest less than £100 a year in cybersecurity .

The 2024 Cisco AI Readiness Index reveals that IT budget allocations are anticipated to nearly double in the coming year as companies work to safely deploy AI technology

An overwhelming 99% of respondents anticipate reallocating resources from privacy budgets to AI initiatives in the future.

32% of SMBs lack the budget to hire more cyber staff.

Only 36% of respondents said their organisation has a dedicated AI fund.

UK organisations are significantly increasing their cybersecurity budgets, with an average predicted rise of 31% in the next 12 months. This is more than double the 15% that Gartner had forecast.

20% of CISOs spend between $100,000 and $200,000 annually on compliance.

54.2% of respondents to the CISO Society survey feel that they have the talent to meet future regulatory requirements.

Despite the increase in budgets and the perception of adequate resources, nearly half of UK cybersecurity leaders, 47%, struggle to engage at the board level.

More than half of respondents admitted they lack sufficient data to accurately assess their organisation’s IT spending.

Nearly 2 in 5 organisations are counting on cost savings from AI-driven efficiencies to pay for the technology.