61% of cyber resilient leaders have allocated a cybersecurity budget to new initiatives from the beginning, compared to 46% overall.

SaaS security is a top priority for 86% of organisations, with 76% increasing their budgets this year.

91% of respondents said they expect their middle market's organisation's cybersecurity budget to increase in the year ahead.

63% of financial services firms will increase cyber security investment over the next year.

1 in every 8 IT dollars is allocated to cybersecurity.

More than a fifth of financial organisations will be boosting budgets by up to 10%

21% of C-suite leaders say their organisation currently invests more than 10% of their IT budget in cybersecurity. This number is expected to roughly double to 38% next year

Security budgets are projected to grow by just 4.3%, the smallest increase since 2021.

More than a third of UK SMEs (38%) invest less than £100 a year in cybersecurity .

An overwhelming 99% of respondents anticipate reallocating resources from privacy budgets to AI initiatives in the future.

The 2024 Cisco AI Readiness Index reveals that IT budget allocations are anticipated to nearly double in the coming year as companies work to safely deploy AI technology

32% of SMBs lack the budget to hire more cyber staff.

50% of CISOs said that, on an annual basis, they spend more than $200,000 worth of capital and dedicated staff resources to achieve and maintain compliance across their organisation.

30% of CISOs spend less than $100,000 annually on compliance.

18% of CISOs claimed they were unable to support a business initiative due to budget cuts in the past year, and 64% said that lack of support led to a cyberattack.

10% saw a decrease in their privacy budget in the past 12 months.

84% of UK senior security decision makers felt that their organisation had made more than enough budget available to become compliant with DORA.

7 out of 10 surveyed companies with a high degree of security platformisation report their cybersecurity investments have helped business outcomes.

The majority of UK organisations, three-quarters, anticipate their cybersecurity budgets will grow.

38.3% of CISOs cited cost as a challenge in implementing new or updated compliance frameworks.