IT security trends: What experts expect for 2024
Why IT security is an ongoing task with increasing spending
The year 2023 has to an end. Many IT managers are now taking stock of security and preparing for the 2024. Unfortunately, the outlook is anything but rosy.
Panic and alarm don't help anyone. However, given the enormous sums that security incidents cost, according to the market research company Cybersecurity Ventures, it is not always easy to remain calm. For the current year, the analysts estimate the global costs of cyber attacks at a whopping eight trillion US dollars. With an annual growth in the damages caused of 15 percent assumed by Cybersecurity Ventures, this figure will reach more than 10.5 trillion dollars in 2025.
Why IT security is an ongoing task with increasing spending
Spending on IT security is also steadily increasing. According to the Bitkom association, more than nine billion euros will be invested in the defense against cyber attacks in Germany for the first time in 2023. In 2024, it is already expected to be more than ten billion euros and in 2025 even around 11.6 billion euros. 'Any company can be the victim of cyber attacks,' comments Bitkom Chief Executive Officer Udo Littke. It is therefore "a good signal" if companies ramp up their spending on IT security.