Security will continue to be one of the most important concerns for companies in 2022. According to Neustar International Security Council (NISC), companies’ security budgets will further increase in the coming year.

NISC, a research department of security and analytics specialist Neustar, says more than four out of five companies will increase their security budgets shortly. Nearly a quarter is said to increase their budget between 31 and 50 percent. Around 41 percent are expected to do so between 11 and 30 percent.

Narrowing the skill gap

The narrowing of ‘skill gaps’ in the field of security is frequently named as a budget purpose. Furthermore, money will be spent on hiring specialists and purchasing solutions from suppliers. About 71 percent of the respondents indicate that they expect to become more dependent on these suppliers. About half say they will use their funds to recruit their own security personnel.

Cyber insurance widely accepted

Companies are also seriously considering other ways to protect themselves against cyber attacks. Cyber insurance is frequently named. According to the researchers, insurance against cyber attacks is increasingly popular and accepted. Almost half of the respondents have taken out such insurance. Almost every respondent considers it a worthwhile investment.

DDoS attacks

The study also shows that companies are particularly interested in defending against DDoS attacks. A large proportion of respondents is said to have been the victim of a DDoS attack at some point in the past year. The number of DDoS attacks on companies reportedly increased by 50 percent.