Some 23% of US technology executives say their company has suffered a security breach in the past 12 months and they plan to spend more on IT security in the next year, according to the Technology Industry Business Outlook survey from the advisory firm KPMG.
The survey shows that three-fourths of technology executives expect their companies to spend 1 to 5 percent of their revenue on IT security over the next 12 months.
Security and risk management are the biggest challenges for businesses adopting mobile technologies, the cloud and the Internet of Things.
As the revenues are expected to increase, six out of 10 tech business leaders expect their companies to hire more employees in the next 12 months.
The average consolidated total cost of a data breach has risen 23% since 2013 to $3.8 million, as hotforsecurity.com had previously reported.
The KPMG survey was conducted in the US in April and reflects the responses of 111 primarily C-level and senior executives in the tech industry. 54% of respondents are in companies with revenues of $1 billion or more and 46% work in firms with revenues in the $100 million to less than $1 billion range.