This is part of an ongoing 2021 predictions series. We’ve asked top cyber experts to contribute their insights and expertise to provide a look ahead at what the new year may bring to cybersecurity.
Danny Allan, CTO, Veeam: IT spending will rebound after 2020 – security and hardware will be at the top of the list.
“Despite the economic turbulence brought on by the pandemic in 2020, we’ll see a five to 10 percent increase in general IT spend in the New Year. Allocations will likely focus most on security, general system modernizations (backup, applications, cloud migrations, etc.) and refreshing hardware. In addition, organizations will take a look at what was on “hold” in 2020 to address IT spend that happens on an annual recurring basis. For example, hardware should be refreshed every three years, and if the pandemic halted an organization’s attention to hardware, it’s fair to say that will make its way to the top of the list in 2021.
This year, we will also be in the unique position to see an extra boost in IT spend and allocations following the U.S. presidential election. Elections tend to show historic slow-downs in how dollars are allocated, due to the uncertainly of the results and the eventual candidate who will occupy the White House. After November, we’ll see dollars funneled in ways that reflect the outcome – similar to how other IT spend will stabilize as we see a true downturn on the pandemic or progress in a vaccine and a return to ‘normal.’”