Security Budgets Continue To Grow In 2023 Despite Macroeconomic Conditions

Despite the much anticipated but slow-to-arrive recession, security and risk decision-makers continue to increase spending on cybersecurity-related initiatives as we hit the midpoint of 2023. According to Forrester’s Budget Planning Survey, 2023, 83% of global technology decision-makers expect their enterprises to increase spending in information and IT security and risk over the next 12 months. Most respondents expected this budget to increase between 1% and 10%. Cloud security, application security, and threat intelligence were among the domains where technology decision-makers who work in information or IT security at enterprises most frequently expected spending to increase.