Cybersecurity is now a 'priority business investment', claims IDC

Customer data management and systems integration were also highlighted as key areas

Cybersecurity is now a 'primary business investment', according to IDC's Future Enterprise Resiliency and Spending (FERS) report.

The analyst explained that enterprises are now taking cybersecurity procurement more seriously in an effort to try and stave off a business-threatening event.

More than just incident response IDC has found that companies are now transforming their business models from linear-based value chains to integrated ecosystems leveraging shared data and insights, applications, and operations.

Offering advice on best practice, the analysts added that organisations need to adapt to disruptive trends by forming partnerships that "extend beyond their respective industries" to generate value, build resiliency, foster innovation, and anticipate threats and opportunities.

"We are still in a version 1.0 phase of IT investment for the future of industry ecosystems," said IDC Future of Industry Ecosystems & Product Innovation Strategies research VP, Jeffrey Hojlo.

IDC also found that the future of industry ecosystems technology investments are still at an early stage, highlighting customer data management and systems integration as other key areas for investment.

"As digital transformation initiatives mature to include a varied set of external partners and expertise, organisations will expand investment beyond cybersecurity to address requirements for innovation, data monetization, and sustainability through cloud-based applications, analytics, customer data management, and technologies."

While cybersecurity was identified as the top investment area across all regions, IDC found that the results varied.

Though 46 per cent of North America respondents identified cybersecurity as a priority, driven by high levels of investment in cloud applications and infrastructure, only 28 per cent of respondents in EMEA identified cybersecurity as a top investment area.

Moreover, lagging behind were investments in artificial intelligence and machine learning (AI/ML).

In North America, only 13 per cent of respondents identified AI/ML as an investment priority; survey results in EMEA (19 per cent) were similar.

Investments in blockchain and edge-based cloud technologies were also relatively low priorities across all regions.