Research

Security Priorities Study 2024

Annual CSO research conducted to gain a better understanding of security’s role within the business and the various security projects organizations are researching and investing in now and in the coming year.

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75%

of security decision-makers say that understanding which security tools and solutions fit within their company is becoming more complex

67%

of organizations are aware of what caused data security incidents they have experienced over the past 12 months.

72%

of security decision-makers say that their role has expanded to include additional responsibilities over the past 12 months

Key findings

Security priorities drive steady budget growth

Most security decision-makers (98%) expect their overall security budget to increase or remain the same in the next 12 months in order to achieve their outlined security priorities. In the upcoming year, respondents hope to strengthen protection of their sensitive data, improve corporate resiliency, secure cloud data and systems, and enhance security awareness through end-user training. However, security decision-makers may need to be slightly more realistic or outsource some of their functions, as too many competing priorities is the #2 challenge inhibiting security goal achievement.

Supporting initiatives through roles and engagement

To ensure security initiatives are acted upon, organizations are investing in leadership. The majority have a CISO, CSO or top security executive, with half of these individuals reporting directly to the CEO. This clear line to the top shows the strong attention business leaders are giving security, and this is further supported by the fact that 92% of security executives have engagement with their Board of Directors. Specifically, 39% say they meet multiple times a month with their board, up from 26% last year. These meetings prove successful as security execs say the engagement helps improve security initiatives.

AI security tools and enhancements are expected

Up from 52% in 2023, 59% of security decision-makers are more likely to consider a security solution that uses AI. While security buyers are willing to pay a premium for this, the majority expect AI enhancements as part of their existing security solutions without additional charges. Vendors may be able to get away with a fee as 98% of security decision-makers saw benefits from their AI-enabled security solutions, up from 72% last year. Despite the significant value, vendors still need to consider the factors that impact AI security vendor selection which are business value, security incident reputation, and cost/pricing.