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Voice of the Enterprise Security Customer: Global Energy and Utilities Security Trends
Growth Opportunities Garnered from a Survey of Cybersecurity Decision-Makers
12-Feb-2025
Global
Customer Research
MH52-01-00-00-00
AE_2025_1289
Frost & Sullivan conducted a Voice of Customer survey of 2,448 cybersecurity decision-makers and influencers in organizations with at least 250 employees in 2023 to understand their cybersecurity operations, organizational management, technology investment, threat awareness, and other factors influencing decisions for new cybersecurity investments. The respondents were from seven countries (Australia, Brazil, France, Germany, Japan, the United Kingdom, and the United States) chosen as a representation of global trends.
Specifically for the energy and utilities sector, the focus of this analysis, 146 respondents—primarily director-level or above and part of information technology or cybersecurity teams—provided insights and opinions on topics including cybersecurity budgets, program priorities, common tools and technologies, and persistent challenges.
Research Scope:
- Explore energy and utilities organizations’ cybersecurity posture and operations, showcasing the current state of cybersecurity hygiene in infrastructure, policies, and processes.
- Depict the size and structure of cybersecurity budgets, projecting financial insights and the distribution of the budget across technologies such as network security, endpoint security, threat intelligence, and additional security systems.
- Describe cybersecurity solutions used, giving an overview of the tools and technologies employed for safeguarding the digital assets of an organization and touching upon specific solutions and their functions.
Author: Adrian Drozd
Objectives
Methodology and Respondent Profile
Key Findings
Overall Influence on Cybersecurity Purchases and Upgrades
Survey Respondent Demographics
Cybersecurity Operations
Cybersecurity Resourcing
Key Findings
Cybersecurity Budget
Cybersecurity Budget Year-over-Year Changes
Cybersecurity Budget Allocation in 2023
Average Cybersecurity Budget by Country
Russo-Ukrainian War’s Influence on Cybersecurity Budgets
Key Findings
Cybersecurity Strategy Drivers
Cybersecurity Strategy Challenges
Risk Awareness in Preparing for Potential Cyber Attacks
Successful Cyberattacks in the Past 12 Months
Current Cybersecurity Concerns
Previous Successful Cybersecurity Attacks
Impact of Previous Successful Cybersecurity Attacks
Organizational Risk Awareness
Key Findings
Cybersecurity Program Priorities
Main Objectives of Cybersecurity Solutions
Application Security Solutions
Cloud Security Solutions
Data Security Solutions
Endpoint Security Solutions
Identity Security Solutions
Network Security Solutions
Security Operations Solutions
Security Services
Strategic Insights
Growth Opportunities Fuel the Growth Pipeline Engine™
Why Is It Increasingly Difficult to Grow?
The Strategic Imperative 8™
Benefits and Impacts of Growth Opportunities
Next Steps
List of Exhibits
List of Exhibits (continued)
Legal Disclaimer
List of Figures
- Cybersecurity Operations, Global, 2023
- Number of Full-Time Cybersecurity Employees, Global, 2023
- Cybersecurity Staffing Prediction, Global, 2023
- Percentage of IT Budget Allocated to Cybersecurity, Global, 2023
- Cybersecurity Budget, Global, 2023
- Cybersecurity Budget Changes, Global, 2023
- Cybersecurity Budget Allocations, Global, 2023
- Russo-Ukrainian War Influence on Cybersecurity Budget, Global, 2023
- Cybersecurity Strategy Drivers, Global, 2023
- Ability to Prevent New Cyber Threats and Attacks, Global, 2023
- Probability of a Successful Cyberattack, Global, 2023
- Number of Successful Cyberattacks in the Past Year, Global, 2023
- Top Cybersecurity Concerns, Global, 2023
- Cyberattack Vectors in the Past Year, Global, 2023
- Impact of Successful Cyberattacks in Past Year, Global, 2023
- Board of Directors Risk Awareness, Global, 2023
- Cybersecurity Priorities, Global, 2023
- Main Objectives of Security Solutions, Global, 2023
- Application Security Solution Assessment, Global, 2023
- Cloud Security Solution Assessment, Global, 2023
- Data Security Solution Assessment, Global, 2023
- Endpoint Security Solution Assessment, Global, 2023
- Identity Security Solution Assessment, Global, 2023
- Network Security Solution Assessment, Global, 2023
- Security Operations Solution Assessment, Global, 2023
- Security Services Assessment, Global, 2023
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