target audience: TECH SUPPLIER Publication date: Dec 2023 - Document type: IDC Survey Spotlight - Doc Document number: # AP51453623
How Are Enterprises in Asia/Pacific Planning to Change Their Budget for Security Products and Services in 2024 Compared with What It Spent in 2023?
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Abstract
This IDC Survey Spotlight unveils pivotal insights derived from IDC's Future Enterprise Resiliency and Spending Survey, Wave 9, conducted in October 2023. The escalating frequency of cyberattacks and the growing web of regulations, spanning state, sectoral, and federal levels, have significantly elevated the risk of noncompliance. Internally, these attacks disrupt operations, leading to data breaches and presenting formidable challenges for organizations striving to adhere to both internal policies and external regulatory mandates.
Furthermore, cybercriminals are increasingly employing AI-based tactics, such as generative AI (GenAI)-based pretexting and identity theft, in their attacks on enterprises. As organizations seek to enhance their cybersecurity measures with solutions such as threat detection and response, user and entity behavior analytics (UEBA), identity and access management (IAM), machine learning security operations (MLSecOps), there is also a notable shift in spending patterns toward governance, risk, and compliance (GRC).
This evolving landscape prompts the crucial question: Is GRC the new paradigm for securing enterprises? This report sheds light on enterprises in the Asia/Pacific region contemplating adjustments to their budgets for security products and services in 2024 compared with their allocations in 2023.