Cyber Security: Where are businesses are investing?
Cyber threats continue to escalate in the UK, with the summer of 2024 showing the worst period ever for commercial attacks. Therefore, it’s important to protect your business and decide which measures are worth investing in.
Earlier in 2024, Beaming commissioned a study* of 500 business leaders across the UK, and in this article, we share the key cyber security investments they are making to protect their businesses.
Top Cyber Concerns for UK Businesses
Data breaches remain the primary concern for UK business leaders. The potential reputational damage, financial loss, and legal repercussions associated with data breaches have driven a heightened focus on data protection.
Key Investment Areas
To mitigate these risks, businesses are investing in a range of cyber security solutions and strategies:
Cybersecurity Training:
-A well-trained workforce is the first line of defence against cyber threats. It has never been more important to equip people with the knowledge, skills, and awareness necessary to protect business systems, networks, and data, given the high prevalence of phishing, insider attacks, and social engineering.
-The number of businesses providing cybersecurity training has soared from 11% in 2019 to 48% in 2023.
Network Perimeter Firewalls:
-Firewalls play a crucial role in securing a computer network by acting as a barrier between a trusted internal network and untrusted external networks, such as the Internet.
-The adoption of network perimeter firewalls has increased significantly, with 62% of businesses expected to be using this technology by the end of 2024.
Managed Private Networks:
-These networks, usually set up and maintained by a specialist service provider, provide secure remote access to company systems, protecting sensitive information from interception and unauthorised access.
-The adoption of managed private networks has grown from 8% in 2019 to 53% in 2023 and is projected to reach 63% in the near future.
Unified Threat Management (UTM) Devices:
-UTM devices simplify security management and improve protection by integrating multiple security functions into a single platform.
-The adoption of UTM devices has skyrocketed from 1% in 2019 to 40% in 2023.
Site-to-Site VPN Technology:
-VPNs enable secure communication between different network locations.
-The use of site-to-site VPN technology has increased from 5% in 2019 to 40% in 2023.
Protect Your Business with Beaming
Beaming works with customers across the UK who trust us to keep their data safe and their systems secure. We don’t take that responsibility lightly. Contact us to find out more.
*Study carried out by Censuswide in 2024