Axitea analyses the security investments of Italian companies

Cybersecurity remains a priority for Italian companies and security budgets are increasing according to Axitea research

There is a slight increase in the budget that Italian companies will assign to cybersecurity during 2022: this is the figure that emerges from a recent Axitea research conducted on organisations in our country and covering the two-year period 2021/22. The figures notably show a probable 10% increase in the security investments declared by 19% of the large companies surveyed.

Axitea’s analysis of Italian companies’ security investments has brought to light how companies are placing increasing emphasis on cybersecurity. At the level of external factors, this trend was ushered in with the pandemic, which fostered the adoption of the hybrid work mode implemented by most employees. This situation triggered an increase in risks from possible cyber attacks – such as fraud, phishing, identity theft and loss of information, as well as the likelihood of service interruptions.

The survey clearly shows that 78% of Italian companies will keep their IT security budget stable, 19% will increase it, while only 3% plan to reduce it. This trend is also reflected in the Cybersecurity & Data Protection Observatory report by Osservatori.net: around 60% of large Italian companies increased their cybersecurity budgets in 2021, reaching a total value of EUR 1.55 billion.”

“The steady increase in cyber attacks is there for all to see, and Italian companies are taking note of this by paying more and more attention to cybersecurity,” explains Marco Bavazzano, CEO of Axitea. “By now it is clear to all business managers just how much of a strategic element security is for the business. It is no longer just an ancillary element, and this is also clear from our data.”