Optiv Report Shows Nearly 60% Increase in Security Budgets as Most Organizations Report Cyber Breaches and Incidents

Optiv’s press release highlights findings from its 2024 Threat and Risk Management Report: budgets up 59% year-over-year (among organizations with more than 5,000 employees, 63% averaged $26M), 61% experienced a breach/cyber incident in the past two years (55% had four or more), persistent tool sprawl, and top 2024 investments in internal assessments (60%), IAM (58%) and additional tools (51%); it also notes 73% SOAR adoption and growing AI/ML use (44% prevention), while calling out gaps such as only 36% using formal budgeting and inconsistent CSIRPs, with insights aimed at improving governance, risk management and resilience.