More than two-thirds (69%) of Australian MSPs and resellers forecast that their customers will increase their investment in cybersecurity in the new financial year – with 51% citing that GenAI will unlock new opportunities for work.
That’s according to a survey of 84 respondents conducted by WatchGuard Technologies at the recent Leader Expo events in Sydney and Melbourne.
When asked to nominate where spending would be directed in the new financial year, firewalls topped the list in cyber investment with 63% – indicating strong demand for high-performance firewall appliances.
In addition, 51% indicated robust demand for network security monitoring tools, with 41% forecasting that remote employee security would still command investment with many Australian businesses now operating a hybrid workplace environment.
“This data shows security budgets will be directed to areas that can deliver significant and measurable benefits,” said Anthony Daniel, Regional Director – Australia, New Zealand and Pacific Islands, WatchGuard Technologies. “While paying attention to emerging technologies such as AI, security teams are not turning their backs on the fundamentals needed to create an effective security structure capable of protecting their key IT assets.”
Asked to name the cybersecurity threats their customers will face during the next 12 months, 75% of survey respondents pointed to data breaches and data loss. Other threats included identity-based threats (45%), ransomware (38%), a lack of relevant technical skills to counter cybersecurity threats (36%) and the ongoing popularity of generative AI (31%).
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