IT Companies In Asia Pacific Will Increase The IT Security Budget By Up To 14 Percent

The IT security budget in Asia Pacific will increase some tofu going forward (photo: Kaspersky)

JAKARTA - The PWC study states that growing business interest in cybersecurity caused by growing use of digital technology and the growing threat landscape has resulted in a surge in spending in IT security.

To explore more about how businesses plan a budget for this scope and what their strategy is for further investment, Kaspersky conducted 3,230 interviews in 26 countries of the company with more than 50 employees.

The results show that the IT budget for cybersecurity will increase again over the next three years for MSMEs and companies to handle various incidents.

The average cybersecurity budget in 2022 is USD 3.75 million (IDR 56.8 billion) for companies with USD 12.5 million (IDR189 billion) allocated to IT in general. Meanwhile, in the MSME sector, they invested USD 150 thousand (IDR 2.3 billion) for IT security from the TI budget averaged USD 375 thousand (IDR 5.6 billion).

In Asia Pacific (APAC) itself, MSMEs and companies in the region claim to increase their online defense budget by 3% higher than the global average of 14%.

Kaspersky found several reasons respondents in Asia Pacific wanted to increase cybersecurity spending, including IT's infrastructure complexity (62%), and the need to raise the level of security specialist expertise (56%).

"Improving the budget for cybersecurity is the right step to build the company's defenses against cyberattacks and protect their assets from threats that may occur in 2023," Chris Connell, Managing Director for Asia Pacific in Kaspersky said in a statement received in Jakarta.

Connell also revealed that additional budgeting is expected to help local companies in Asia Pacific in overcoming most of IT's security-related issues.