Those sectors seeing an increase in security budgets are financial services, technology, sales and marketing, and legal. Those seeing declines are health care, business services, consumer goods and services, and manufacturing. These may be the organizations most affected by inflation and not only reducing internet budgets but overall spending, the report said.
Cooling Headcount growth
The growth of the security population is also slowing. Although still in the double digits, the workforce is expected to grow by 12% this year, down from 16% last year and 31% in 2022. Put another way, 52% of CISOs plan to add more headcount this year, down slightly from 55% of respondents in 2023 who said they would add staff, and down significantly from 68% in 2022.
In the past 12 months, the report said, it was difficult for CISOs to add staff even if there was a need. “Teams are being asked to do more with less, and CISOs are finding it difficult to budget for recruiting and hiring. This puts a lot of pressure not only on CISOs, but also on their teams.”
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