Large corporations improving cybersecurity maturity, more work to do

01/07/2024 | Wavestone

New research from IT service management company Wavestone reveals the latest trends in cybersecurity.

In the face of a tense geopolitical environment, businesses are expected to encounter cyber threats from various malicious actors. The new Cyber Benchmark 2024 report, which involved assessing nearly 200 security measures over five years from more than 150 organisations and close to 7 million users, has revealed that while there is progress, there is still a considerable distance to cover, particularly for large corporations. Among the findings, the overall maturity score of large corporations increased to 53%, up from 52% compared to last year. More broadly, cybersecurity budgets accounted for 6,6% of the IT budget across all sectors.

While advancements in cloud and data security have been made, concerns persist around third-party supply chains and industrial systems. Additionally, smaller companies (those with annual revenue below $1bn in sales) remain more vulnerable to ransomware attacks than larger businesses. The impending NIS2 directive is anticipated to significantly impact cybersecurity strategies across Europe, necessitating substantial investments to meet the expected requirements.

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Cyber risk, cybersecurity, infosec, hacking, threat

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