73% of organizations increase cybersecurity spending in 2017: 4 things to know

At the start of 2016, 58 percent of organizations anticipated their IT security spending would increase by the end of the year, according to a Thales report. In 2017, this number has grown to 73 percent.

Here's what you need to know.

  • The top two spending priorities are network (62 percent) and endpoint (56 percent) protection. The least common spending priority organizations reported was data-at-rest encryption (46 percent).
  • When asked to rank the effectiveness of solutions protecting sensitive data, however, respondents ranked data-at-rest (75.7 percent) as more effective than endpoint protection (69.3 percent).
  • The top ranked reason for spending on data security is meeting compliance requirements (44 percent), followed by a focus on best practices (38 percent) and protecting reputation (36 percent).
  • The top barriers to adopting data security solutions included system complexity (50.4 percent) and lack of trained staff to manage the system (36 percent).

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