Cybersecurity: Landscape, impact and what comes next
May 2023
As cyberattacks increase, so does the importance of maintaining a robust cybersecurity stack. But what's next on the horizon?
Key takeaways
With more than 1,800 data breaches across the U.S. in 2022, 63% more than a pre-pandemic year (source: Identity Theft Resource Center report), cybersecurity controls and cybersecurity companies are under increasing pressure to do more.
But BofA Global Research believes that factors such as an uncertain economic outlook, challenges with the Zero Trust framework, artificial intelligence risks and an ever-changing landscape of data solutions, could only reinforce the critical importance in maintaining a robust cybersecurity stack as the increasing velocity of cyberattacks may intensify.
Recently, BofA Global Research analysts spoke with Chief Information Security Officers (CISOs) and distributors across a broad range of industries about cybersecurity budgets, spending patterns and trends for 2023.
Read our full analysis for a more in-depth look at these trends.