October 18, 2024 at 03:19PM
Global information security spending is expected to hit $215 billion by 2024. However, a survey reveals 44% of CISOs experienced data breaches despite their tools. The main concern is hybrid cloud infrastructure, with 84% prioritizing visibility into encrypted traffic, while 60% plan to consolidate existing tools for better management.
### Meeting Takeaways:
1. **Global Spending on Information Security**:
– Projected to reach **$215 billion by the end of 2024**.
– Despite high spending, **44% of CISOs reported missing a data breach** in the past year due to existing tools.
2. **Key Concerns Identified**:
– **Hybrid cloud infrastructure and data-in-transit** are major blind spots; **80%** of CISOs expressed this as a top concern.
– **93% of malware** has historically hidden in data-in-motion.
– **84%** of CISOs prioritize gaining visibility into encrypted traffic for the upcoming year.
3. **Strategic Insights from Industry Leaders**:
– **Chaim Mazal, CSO at Gigamon**, emphasized the need to differentiate between acceptable and unacceptable risk, highlighting the necessity of visibility into data-in-motion to secure hybrid cloud infrastructures.
4. **Observability Focus**:
– **82% of CISOs** prioritize deep observability in hybrid cloud environments.
– **85%** wish to gain insights into packet-level and application metadata.
– **81%** foresee hybrid cloud infrastructure as a **budgeting priority for 2025**.
5. **Connection Between Security and Observability**:
– **Stephen Elliott from IDC** discussed the intrinsic connection between security and observability, stressing the importance of network-derived intelligence to inform security operations and prioritize responses.
6. **Tool Optimization**:
– **75% of CISOs** feel overwhelmed by the number of tools and alerts.
– **60%** plan to focus on consolidating and optimizing existing tools for hybrid cloud data and infrastructure as a priority for 2025.
These takeaways reflect the urgent need for improved visibility, consolidation of tools, and a shift in strategic priorities among CISOs to enhance security measures in an increasingly complex landscape.