The majority of businesses increased cybersecurity budget

Businesses said budgets rose to adapt to next-gen security capabilities.

A study showed that 73% of Singaporean businesses polled said their cybersecurity budget grew to adopt next-gen security capabilities, secure talent, and increase online commerce.

In a statement, global security leader, Palo Alto Networks, said 85% of local businesses in Singapore shared that cybersecurity is a top priority as it is being discussed at a board level.

To address cyberthreat gaps, businesses in Singapore are implementing cloud security adoption (45%), securing loT and OT (41%), and endpoint protection (39%).

Across the ASEAN region, Al integration is the top technology businesses across ASEAN are adopting, particularly those in the Telco/Tech/Communications industries.

"This reflects the approach of organisations in Singapore, where 41% are looking into Al integration (including machine learning, predictive analytics, voice recognition, and sentiment analytics) in the next one to two years," read the statement.

The April 2023 online poll included 500 corporate IT decision-makers and business leaders across five key industries in SEA: Services (Banking, Financial), Government/Public Sector/ Essential Services, Telco/Tech/Communications, Retail/Hotel/F&B, Transport and Logistics, and Manufacturing. Of the 500, 100 each were from Singapore, Malaysia, Indonesia, the Philippines, and Thailand.

Follow the link for more news on

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!