Rising Cyber Threats Propel Companies in Asia Pacific to Boost Cybersecurity Investments, Reveals Kaspersky Study

A Kaspersky-commissioned study reveals that over 77% of companies in the Asia Pacific region experienced cybersecurity incidents in the last two years, prompting a surge in cybersecurity investments. With a shortage of IT security staff and tools cited as primary challenges, companies plan to address gaps through outsourcing, third-party services, and automation in the coming months. The study emphasizes the need for proactive cybersecurity measures to combat the evolving threat landscape.

5 December 2023 – A recent study commissioned by cybersecurity firm Kaspersky highlights a substantial increase in cybersecurity investments by company leaders in response to a significant rise in cyberattacks. The data indicates that over three-quarters (77%) of companies in the Asia Pacific (APAC) region experienced at least one cyber incident in the last two years, with 87% of these incidents categorized as ‘serious.’

Key Findings from the Study:

  • Impact of Cyber Incidents: The study, based on responses from 234 IT security professionals in APAC, reveals that a lack of necessary tools for threat detection (20%) and a shortage of qualified IT security staff (24%) were cited as the main reasons for cyber incidents within companies.
  • Addressing Cybersecurity Gaps: To address these cybersecurity gaps, 32% of respondents expressed a desire for more external specialists, while 57% revealed plans to invest in outsourcing cybersecurity within the next 12 to 18 months.
  • Industry Investment Trends: Industries such as critical infrastructure, energy, and oil & gas are most likely to invest in third-party professional services. Approximately 34% of organizations plan to invest in third-party professional services, and an equal percentage aim to outsource their cybersecurity to Managed Service Providers/Managed Security Service Providers (MSP/MSSP).
  • Automation in Cybersecurity: Over the next 12 months, 51% of businesses in the APAC region plan to implement software for automating cybersecurity processes, emphasizing the growing reliance on automation to enhance security.

Expert Insights and Recommendations: Adrian Hia, Managing Director for Asia Pacific at Kaspersky, acknowledged the persistent shortage of local cybersecurity professionals in the region. He emphasized ongoing efforts to build partnerships with educational institutions, governments, and non-government organizations to address this talent gap.

Ivan Vassunov, VP, Corporate Products at Kaspersky, commented on the significance of automation and outsourcing in cybersecurity tasks. He highlighted the expertise and options provided by cybersecurity vendors, Managed Service Providers, and Managed Security Service Providers to effectively manage cybersecurity for organizations of any size.

Kaspersky’s Recommendations for Coping with Cybersecurity Challenges:

  • Utilize expertise from managed security providers.
  • Implement professional services to optimize IT security infrastructure.
  • Consider part-time or outsourced IT administrators for effective management of cybersecurity products.
  • Invest in cybersecurity training for IT security specialists to stay updated on the evolving threat landscape.

As cyber threats continue to evolve, the study underscores the imperative for companies to proactively invest in cybersecurity measures, leveraging external expertise and automation to bolster their defenses.

Author: Terry KS

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