Companies Are Freaked Out About Cybersecurity And Plan To Spend A Lot More On It This Year


hackers computerWikimedia CommonsThe recent hacks have made a direct impact on IT security spending.

Reports of security breaches reached new heights in 2014, following the iCloud and Sony hacks. Many consider the Sony hack to be the worst cyberattack in US corporate history.


And it looks as if these attacks are having a direct impact on the amount companies are spending on computer security.

According to a survey by Piper Jaffray, security was ranked as the top spending priority for CIOs this year, with a whopping 75% of the respondents saying they would increase spending in 2015.

Security was the top concern last year, too, but only 59% had indicated they would increase spending in it. That's a huge jump.

"CIOs clearly have heightened concerns from the many security breaches that occurred in 2014, resulting in an inflection in overall security spending," the report said.


Security was also cited as the primary reason (35% of the response) companies would hesitate to move to the cloud, preferring to run everything in their own data centers instead.

Piper Jaffray's survey asked only 112 CIOs across eight different industries, so the results should be taken with a grain of salt. Still, security seems to be a huge concern for everyone in tech, as some of the top venture capitalists in Silicon Valley also picked it as one of their biggest investment areas this year.

As Steve Herrod of General Catalyst told us, "It's clear the current approaches to security aren't cutting it, which is why the security space is one of my biggest personal focus areas."

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