IT Security Budgets Soar as Orgs Battle Rising Threats

Median IT security budgets have more than tripled—to $5.3 million in 2022 from $1.4 million in 2018—leading to a significant increase in the cost of combating cybersecurity threats over the past five years. These were the results of a Hiscox survey, which also revealed nearly a quarter (23%) of IT security budgets are now dedicated..

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