Increased Investment in Security for Critical Infrastructure to Skyrocket by 83% According to ABI Research by 2027
The national cybersecurity strategy, released in March, emphasises the importance of further investments in security for various industries. This strategy, aimed at bolstering cyber defences, encourages increased budgets for cybersecurity measures to implement the strategies outlined.
ABI Research, a renowned source in the field, predicts that critical infrastructure sectors will at least double their security investments between 2022 and 2027. This anticipated increase in spending is expected to outpace the 12% compound annual growth rate of global security investments overall, according to ABI Research.
The compound annual growth rate of global security investments, as per ABI Research, stands at 12%. This growth rate is significant, but the predicted increase in cybersecurity spending in critical infrastructure sectors is expected to be even more substantial during the five-year period.
The Biden administration encourages critical infrastructure industries to adopt secure-by-design principles. These principles aim to ensure that systems in critical infrastructure are designed to fail safely and recover quickly, reducing the impact of potential cyber threats.
ABI Research's forecasts also point towards the countries with the highest increases in cybersecurity spending for critical infrastructure between 2022 and 2027. These include the United States, China, the United Kingdom, Germany, and Japan.
This focus on increased cybersecurity spending in critical infrastructure sectors is a necessary step towards ensuring the security and resilience of these vital systems in the face of growing cyber threats. As the world becomes increasingly interconnected, the importance of robust cyber defences cannot be overstated.
