State of Pentesting Report: 92% Increase In IT Security Budgets Despite Economic Headwinds

Pentera has released the findings of its second annual industry survey: The State of Pentesting 2023. Pentera undertook this research to understand the current state of security validation practices and investment in enterprises.

Pentera surveyed 300 CIOs, CISOs and security executives from enterprises across Europe and the USA. The report provides insights on current IT and security budgets, cyber security validation practices, and how cyber exposure is being managed, while showing differences between the regions and enterprise sizes.  

Report highlights include:

  • Despite large investments in Defense-in-Depth strategies, 88% of organizations have suffered recent attacks – On average, companies have almost 44 security solutions in place, indicating a defense-in-depth strategy, where multiple security solutions are layered to best protect critical assets. However, despite the large number of security solutions implemented, 88% of organizations have admitted to being compromised by a cyber attack over the past two years. 
  • Cybersecurity budgets aren’t impacted by the financial slowdown – Despite the recent global economic slowdown, cybersecurity budgets are not expected to be impacted in 2023. 92% of organizations are reporting a raise of their IT security budgets, and 86% are reporting a raise of budget for pentesting specifically. 
  • The drivers for  pentesting have evolved beyond regulations – While the need for pentesting originated with regulatory requirements, the top-of-mind motivations for pentesting today are security validation, threat potential damage impact assessment and cyber insurance. With only 22% of respondents citing compliance as their primary motivation for the practice, regulatory or executive mandates are still impactful, but not the primary rationale driving pentesting.   

The results of the report will be presented by Aviv Cohen at Pentera’s XPOSURE Summit on March 1, 2023. The summit focuses on actionable methodologies for developing and executing successful Exposure Management strategies. Register online here.

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